Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes
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/2005/01/5633363/kyrgyz-republic-country-economic-memorandum-enhancing-prospects-growth-trade-vol-2-2-annexes http://hdl.handle.net/10986/8509 |
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okr-10986-85092021-04-23T14:02:38Z Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes World Bank AGRICULTURE BANK LENDING COAL COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS COST EFFECTIVENESS CUSTOMS DAIRY INDUSTRY DEMAND FOR FOOD DIVERSIFICATION DOMESTIC MARKET ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXCHANGE RATE EXPORT MARKETS EXPORT PROMOTION EXPORT VALUE EXPORT VOLUME EXPORTS FINANCIAL CRISIS GDP IMPORTS INCOME INTEREST RATES INTERMEDIATE GOODS INTERNATIONAL COMPETITIVENESS LABOR COSTS LIBERALIZATION MARKET SEGMENTATION MARKET SHARE MEAT MEAT PRODUCTS MERCHANDISE MERCHANDISE EXPORTS METALS MILK NET EXPORTS OIL OPPORTUNITY COST OPPORTUNITY COSTS SALES SUGAR TRADE BALANCE TRADE BARRIERS TRADE DEFICITS TRADE DIVERSION TRADE FINANCE TRADE PERFORMANCE TURNOVER VALUE ADDED WORLD TRADE 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. 2012-06-20T14:46:32Z 2012-06-20T14:46:32Z 2005-01 http://documents.worldbank.org/curated/en/2005/01/5633363/kyrgyz-republic-country-economic-memorandum-enhancing-prospects-growth-trade-vol-2-2-annexes http://hdl.handle.net/10986/8509 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 |
| 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 |
AGRICULTURE BANK LENDING COAL COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS COST EFFECTIVENESS CUSTOMS DAIRY INDUSTRY DEMAND FOR FOOD DIVERSIFICATION DOMESTIC MARKET ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXCHANGE RATE EXPORT MARKETS EXPORT PROMOTION EXPORT VALUE EXPORT VOLUME EXPORTS FINANCIAL CRISIS GDP IMPORTS INCOME INTEREST RATES INTERMEDIATE GOODS INTERNATIONAL COMPETITIVENESS LABOR COSTS LIBERALIZATION MARKET SEGMENTATION MARKET SHARE MEAT MEAT PRODUCTS MERCHANDISE MERCHANDISE EXPORTS METALS MILK NET EXPORTS OIL OPPORTUNITY COST OPPORTUNITY COSTS SALES SUGAR TRADE BALANCE TRADE BARRIERS TRADE DEFICITS TRADE DIVERSION TRADE FINANCE TRADE PERFORMANCE TURNOVER VALUE ADDED WORLD TRADE |
| spellingShingle |
AGRICULTURE BANK LENDING COAL COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS COST EFFECTIVENESS CUSTOMS DAIRY INDUSTRY DEMAND FOR FOOD DIVERSIFICATION DOMESTIC MARKET ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXCHANGE RATE EXPORT MARKETS EXPORT PROMOTION EXPORT VALUE EXPORT VOLUME EXPORTS FINANCIAL CRISIS GDP IMPORTS INCOME INTEREST RATES INTERMEDIATE GOODS INTERNATIONAL COMPETITIVENESS LABOR COSTS LIBERALIZATION MARKET SEGMENTATION MARKET SHARE MEAT MEAT PRODUCTS MERCHANDISE MERCHANDISE EXPORTS METALS MILK NET EXPORTS OIL OPPORTUNITY COST OPPORTUNITY COSTS SALES SUGAR TRADE BALANCE TRADE BARRIERS TRADE DEFICITS TRADE DIVERSION TRADE FINANCE TRADE PERFORMANCE TURNOVER VALUE ADDED WORLD TRADE World Bank Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes |
| 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 2, Annexes |
| title_short |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes |
| title_full |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes |
| title_fullStr |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes |
| title_full_unstemmed |
Kyrgyz Republic : Country Economic Memorandum - Enhancing the Prospects for Growth and Trade, Volume 2, Annexes |
| title_sort |
kyrgyz republic : country economic memorandum - enhancing the prospects for growth and trade, volume 2, annexes |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/01/5633363/kyrgyz-republic-country-economic-memorandum-enhancing-prospects-growth-trade-vol-2-2-annexes http://hdl.handle.net/10986/8509 |
| _version_ |
1764404835863494656 |