Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report
This Country Economic Memorandum is aimed at helping the authorities in the Kyrgyz Republic identify factors explaining the apparent divergence between policies and outcomes, with a view to determining priorities for reform in the coming period. The main messages of the report are: 1) Kyrgyz policym...
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| Format: | Country Economic Memorandum |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/01/5633352/kyrgyz-republic-country-economic-memorandum-enhancing-prospects-growth-trade-vol-1-2-main-report http://hdl.handle.net/10986/8508 |
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okr-10986-8508 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ACTUAL COSTS AGRICULTURE BANK LENDING BANKING SECTOR BANKING SYSTEM BROKERS CERTIFICATES CLEARANCE COLLATERAL COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS CREDIT LINES CURRENCY DEBT DIRECT INVESTMENT DISCOURAGED WORKERS DOMESTIC TRADE ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RECOVERY ECONOMIC RESOURCES ECONOMIC STRUCTURE ECONOMIC WELFARE ELECTRONIC DATA INTERCHANGE EMPLOYMENT ENDOWMENTS EXCHANGE RATE EXPENDITURE EXPORT GROWTH EXPORTS EXPOSURE FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FISCAL POLICY FREE TRADE GDP GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INFLATION INFLATION RATES INSURANCE INTEREST RATES INTERNATIONAL TRADE LABOR COSTS LABOR PRODUCTIVITY LEGISLATION LINKAGES LIVESTOCK PRODUCTS LIVING STANDARDS LOCAL ENTERPRISES MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC PERFORMANCE MACROECONOMIC STABILITY MARGINS MULTILATERAL TRADE MULTIPLIERS NOW ACCOUNTS ORGANIZATIONAL STRUCTURES POVERTY LINE PRIVATIZATION PRODUCERS PRODUCTION COSTS PRODUCTION PATTERNS PRODUCTIVITY PRODUCTIVITY GROWTH QUANTITATIVE ANALYSIS REAL GDP REAL INTEREST RATES REAL SECTOR REGULATORY FRAMEWORK SAM SECURITIES SECURITIES TRADING SETTLEMENT SUBSTITUTION TAXATION TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE FINANCE TRADE FLOWS TRADE LIBERALIZATION TRANSACTION COSTS TRANSITION ECONOMIES TRANSPORT VALUATION VALUE ADDED WAGE DIFFERENTIALS WAGES WTO |
| spellingShingle |
ACCOUNTING ACTUAL COSTS AGRICULTURE BANK LENDING BANKING SECTOR BANKING SYSTEM BROKERS CERTIFICATES CLEARANCE COLLATERAL COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS CREDIT LINES CURRENCY DEBT DIRECT INVESTMENT DISCOURAGED WORKERS DOMESTIC TRADE ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RECOVERY ECONOMIC RESOURCES ECONOMIC STRUCTURE ECONOMIC WELFARE ELECTRONIC DATA INTERCHANGE EMPLOYMENT ENDOWMENTS EXCHANGE RATE EXPENDITURE EXPORT GROWTH EXPORTS EXPOSURE FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FISCAL POLICY FREE TRADE GDP GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INFLATION INFLATION RATES INSURANCE INTEREST RATES INTERNATIONAL TRADE LABOR COSTS LABOR PRODUCTIVITY LEGISLATION LINKAGES LIVESTOCK PRODUCTS LIVING STANDARDS LOCAL ENTERPRISES MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC PERFORMANCE MACROECONOMIC STABILITY MARGINS MULTILATERAL TRADE MULTIPLIERS NOW ACCOUNTS ORGANIZATIONAL STRUCTURES POVERTY LINE PRIVATIZATION PRODUCERS PRODUCTION COSTS PRODUCTION PATTERNS PRODUCTIVITY PRODUCTIVITY GROWTH QUANTITATIVE ANALYSIS REAL GDP REAL INTEREST RATES REAL SECTOR REGULATORY FRAMEWORK SAM SECURITIES SECURITIES TRADING SETTLEMENT SUBSTITUTION TAXATION TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE FINANCE TRADE FLOWS TRADE LIBERALIZATION TRANSACTION COSTS TRANSITION ECONOMIES TRANSPORT VALUATION VALUE ADDED WAGE DIFFERENTIALS WAGES WTO World Bank Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report |
| geographic_facet |
Europe and Central Asia Asia Central Asia Commonwealth of Independent States Eastern Europe Kyrgyz Republic |
| description |
This Country Economic Memorandum is aimed at helping the authorities in the Kyrgyz Republic identify factors explaining the apparent divergence between policies and outcomes, with a view to determining priorities for reform in the coming period. The main messages of the report are: 1) Kyrgyz policymakers should take advantage of the currently favorable nexus of a stable macro-environment, relatively strong gold production and international prices, and fast-growing neighboring markets, to address lingering policy and institutional deficiencies that limit the efficient restructuring of the economy away from its dependence on primary agriculture, mining and hydro-power. Action is needed to provide for more rapid progress with poverty reduction, and to mitigate the impact on the economy of an expected major decline in gold production by the end of the decade. Detailed quantitative analysis reveals a significant unrealized growth potential in agriculture and livestock products, agro processing and light manufacturing, based on prevailing inter-sectoral linkages in the Kyrgyz economy. 2) The prospects for successfully changing the growth pattern and trajectory, depend fundamentally on accelerated investment and export diversification. The contribution of foreign direct investments (FDI) to non-gold real sector investment has been minuscule over the past decade, limiting opportunities for much needed technology transfer and access to global value chains. The weaknesses of the export sector are reflected in the steady erosion of the Kyrgyz share of traditional regional markets. The report proposes a strategy for economic-cum-export diversification that requires simultaneous actions to address external, and domestic trade policy issues. Poor infrastructure, limited competitive pressures and low-level corruption, however, combine to raise trading costs to often prohibitively high levels. Safeguard measures remain a potential problem, and technical barriers to trade are pervasive in the CIS countries and elsewhere, although their impact on Kyrgyz exports has apparently been modest to date. Over the past few years, the government has adopted a range of measures aimed at reducing administrative barriers and strengthening the commercial legal system through a highly participatory reform process. In the end, however, it is firms not countries that are on the front line of international competition and business development. Favorable national circumstances, such as supportive macroeconomic conditions, friendly investment climates, and market-expanding trade agreements, contribute to competitiveness, but they do not guarantee success. |
| format |
Economic & Sector Work :: Country Economic Memorandum |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report |
| title_short |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report |
| title_full |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report |
| title_fullStr |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report |
| title_full_unstemmed |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report |
| title_sort |
kyrgyz republic : country economic memorandum - enhancing the prospects for growth and trade, volume 1, main report |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/01/5633352/kyrgyz-republic-country-economic-memorandum-enhancing-prospects-growth-trade-vol-1-2-main-report http://hdl.handle.net/10986/8508 |
| _version_ |
1764404832070795264 |
| spelling |
okr-10986-85082021-04-23T14:02:38Z Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 1, Main Report World Bank ACCOUNTING ACTUAL COSTS AGRICULTURE BANK LENDING BANKING SECTOR BANKING SYSTEM BROKERS CERTIFICATES CLEARANCE COLLATERAL COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS CREDIT LINES CURRENCY DEBT DIRECT INVESTMENT DISCOURAGED WORKERS DOMESTIC TRADE ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RECOVERY ECONOMIC RESOURCES ECONOMIC STRUCTURE ECONOMIC WELFARE ELECTRONIC DATA INTERCHANGE EMPLOYMENT ENDOWMENTS EXCHANGE RATE EXPENDITURE EXPORT GROWTH EXPORTS EXPOSURE FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEMS FISCAL POLICY FREE TRADE GDP GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH RATE HUMAN CAPITAL IMPORTS INCOME INFLATION INFLATION RATES INSURANCE INTEREST RATES INTERNATIONAL TRADE LABOR COSTS LABOR PRODUCTIVITY LEGISLATION LINKAGES LIVESTOCK PRODUCTS LIVING STANDARDS LOCAL ENTERPRISES MACROECONOMIC CONDITIONS MACROECONOMIC MANAGEMENT MACROECONOMIC PERFORMANCE MACROECONOMIC STABILITY MARGINS MULTILATERAL TRADE MULTIPLIERS NOW ACCOUNTS ORGANIZATIONAL STRUCTURES POVERTY LINE PRIVATIZATION PRODUCERS PRODUCTION COSTS PRODUCTION PATTERNS PRODUCTIVITY PRODUCTIVITY GROWTH QUANTITATIVE ANALYSIS REAL GDP REAL INTEREST RATES REAL SECTOR REGULATORY FRAMEWORK SAM SECURITIES SECURITIES TRADING SETTLEMENT SUBSTITUTION TAXATION TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRADE FINANCE TRADE FLOWS TRADE LIBERALIZATION TRANSACTION COSTS TRANSITION ECONOMIES TRANSPORT VALUATION VALUE ADDED WAGE DIFFERENTIALS WAGES WTO This Country Economic Memorandum is aimed at helping the authorities in the Kyrgyz Republic identify factors explaining the apparent divergence between policies and outcomes, with a view to determining priorities for reform in the coming period. The main messages of the report are: 1) Kyrgyz policymakers should take advantage of the currently favorable nexus of a stable macro-environment, relatively strong gold production and international prices, and fast-growing neighboring markets, to address lingering policy and institutional deficiencies that limit the efficient restructuring of the economy away from its dependence on primary agriculture, mining and hydro-power. Action is needed to provide for more rapid progress with poverty reduction, and to mitigate the impact on the economy of an expected major decline in gold production by the end of the decade. Detailed quantitative analysis reveals a significant unrealized growth potential in agriculture and livestock products, agro processing and light manufacturing, based on prevailing inter-sectoral linkages in the Kyrgyz economy. 2) The prospects for successfully changing the growth pattern and trajectory, depend fundamentally on accelerated investment and export diversification. The contribution of foreign direct investments (FDI) to non-gold real sector investment has been minuscule over the past decade, limiting opportunities for much needed technology transfer and access to global value chains. The weaknesses of the export sector are reflected in the steady erosion of the Kyrgyz share of traditional regional markets. The report proposes a strategy for economic-cum-export diversification that requires simultaneous actions to address external, and domestic trade policy issues. Poor infrastructure, limited competitive pressures and low-level corruption, however, combine to raise trading costs to often prohibitively high levels. Safeguard measures remain a potential problem, and technical barriers to trade are pervasive in the CIS countries and elsewhere, although their impact on Kyrgyz exports has apparently been modest to date. Over the past few years, the government has adopted a range of measures aimed at reducing administrative barriers and strengthening the commercial legal system through a highly participatory reform process. In the end, however, it is firms not countries that are on the front line of international competition and business development. Favorable national circumstances, such as supportive macroeconomic conditions, friendly investment climates, and market-expanding trade agreements, contribute to competitiveness, but they do not guarantee success. 2012-06-20T14:40:36Z 2012-06-20T14:40:36Z 2005-01 http://documents.worldbank.org/curated/en/2005/01/5633352/kyrgyz-republic-country-economic-memorandum-enhancing-prospects-growth-trade-vol-1-2-main-report http://hdl.handle.net/10986/8508 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Europe and Central Asia Asia Central Asia Commonwealth of Independent States Eastern Europe Kyrgyz Republic |