Bazaars and Trade Integration in CAREC Countries

This paper based on survey work as well as an examination of trade statistics is the first to have studied the economic and trade effects of bazaars in central Asia in a detailed way. It presents a wealth of information and statistics relating to c...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	BASKET OF GOODS BENCHMARK BENCHMARKS BILL BUSINESS CLIMATE CENTRAL PLANNING COMMODITIES COMMODITY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVE EDGE CONSUMER GOODS CONSUMER PROTECTION CONSUMERS CONSUMPTION GOODS COST OF IMPORTS CROSS-BORDER COOPERATION CUSTOMS CUSTOMS PROCEDURES CUSTOMS REGULATIONS CUSTOMS TERRITORY DEVELOPED COUNTRIES DEVELOPING COUNTRIES DOMESTIC CONSUMPTION DOMESTIC DEMAND DOMESTIC MARKETS DOMESTIC PRODUCERS ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXPECTED VALUES EXPENDITURE EXPENDITURES EXPORT PRODUCTS EXPORTERS EXPORTS FAIR FINISHED PRODUCTS FIXED COSTS FOREIGN CAPITAL FOREIGN EXCHANGE FOREIGN EXCHANGE EARNINGS FOREIGN GOODS FOREIGN SALES FOREIGN TRADE FOREIGN TRADE OPERATIONS GDP GDP PER CAPITA GOLD GROSS NATIONAL INCOME GROWTH IN TRADE HOTELS IMPORT IMPORTS IMPORTS OF CONSUMPTION INCOME EFFECTS INCOME GROUPS INCOME LEVELS INCOME TAX INCOMES INSURANCE INTERNATIONAL TRADE INVESTMENT EXPENDITURE MARKET ECONOMIES MARKET ECONOMY MARKETING MARKETPLACE MARKETPLACES MERCHANDISING NATIONAL INCOME OIL EXPORTS POSITIVE EXTERNALITIES POVERTY ALLEVIATION POVERTY REDUCTION PRICE OF OIL PRIVATIZATION PROPERTY RIGHTS PROTECTIONIST PUBLIC POLICY PURCHASING PURCHASING POWER RAPID EXPANSION RAPID GROWTH RE-EXPORTS REAL CONSUMPTION RECESSION REEXPORT RENT SEEKING REPUTATION RETAIL RETAIL STORES RETAIL TRADE SALE SALES MARGINS SELLING PRICE SHARE IN TRADE SHOPS SIDE EFFECTS SLOWDOWN SPECIAL PROCEDURES STATISTICAL ANALYSIS SUPPLIER SUPPLIERS SUPPLY RESPONSE SURPLUS TARIFF RATES TAX TAX CODES TAX REGIME TAX REVENUES TOTAL EXPORTS TOTAL IMPORTS TOTAL SALES TRADE BARRIERS TRADE CLASSIFICATION TRADE DATA TRADE IN GOODS TRADE INTEGRATION TRADE POLICY TRADE REGIME TRADE STATISTICS TRADEMARK TRADES TRADING ACTIVITIES TRADING PARTNERS TRANSPORTATION COSTS TURNOVER TURNOVERS UNEMPLOYMENT VALUE ADDED WAGES WAREHOUSES WEALTH WHOLESALE TRADE WHOLESALERS WORLD DEVELOPMENT INDICATORS WORLD ECONOMIES
Online Access:	http://documents.worldbank.org/curated/en/2009/05/11102940/bazaars-trade-integration-central-asia-regional-economic-cooperation-carec-countries http://hdl.handle.net/10986/18609

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Summary:	This paper based on survey work as well as an examination of trade statistics is the first to have studied the economic and trade effects of bazaars in central Asia in a detailed way. It presents a wealth of information and statistics relating to critical income generating activities and seeks to uncover the vital role played by bazaars in supporting economic growth. The analysis conducted in this work is of policy interest: rather than treating bazaars as unorganized and undesirable features of a modern market economy, national authorities should foster the development of bazaars in view of the growth, employment-generation and poverty-fighting characteristics of the operations of bazaars. Indeed, without well-functioning bazaars, the cost of trade would be considerably greater, the prices of goods higher and availability more restricted, trade volumes considerably lower, and the powerful welfare-raising effects from re-exports (in which bazaars play a critical role) as well as trade itself would be greatly muted. The populations would be much the poorer. The remainder of this report is organized as follows: section one provides birds' eye-view of networks of bazaars: their structure and weight in local economies as well as their involvement in domestic and foreign trade activities. Section two provides estimates of trade mediated by bazaars based on both mirror, i.e., Central Asian's (CA's) trading partners' trade statistics and national statistics of Kazakhstan and Kyrgyzstan. Section three presents conclusions and outlines policy implications of empirical findings.

Bazaars and Trade Integration in CAREC Countries

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