Published: 29 January 2014 г.
In Central Asia, trade and financial openness could become a critical anchor for improvement in economic institutions, says the report
The 2013 EBRD Transition Report, which analyses the state of transition in the EBRD region of operations, is being presented in Kazakhstan’s largest cities by EBRD economists.
The presentation in Almaty is taking place today at 17:00 local time, and the event in Astana will take place on January 30th at 15:00.
The report will be presented by senior economists at the EBRD, Mr Alexander Plekhanov and Dr Agris Preimanis. The Bank will also be represented by EBRD Director for Central Asia, Mr Masaru Honma, and Senior Political Counsellor, Mr Mahir Babayev.
The EBRD argues in its Transition Report 2013 that emerging countries are in danger of forever trailing the living standards of more advanced market economies, but, report says, that they can still break through obstacles that stand in the way of greater prosperity.
“The evidence suggests not only that time is on the side of reform, but that the return of reform can be promoted and accelerated, particularly if international integration, domestic leadership and broader social movements work hand in hand,” the Chief Economist of the EBRD, Erik Berglof, writes in the foreword to the report.
“In Central Asia, trade and financial openness could become a critical anchor for improvement in economic institutions and associated increase in economic growth in the region,” adds Mr Berglof.
Commenting specifically on Kazakhstan, Deputy Chief Economist of the EBRD, Jeromin Zettelmeyer, says: “Economic growth in Kazakhstan remained robust, edging up to 6.0 per cent in 2013 from 5.0 per cent in 2012. Economic growth is being supported by resilient investment dynamics, strong consumer spending, and growing oil extraction.”
The report reveals how successful
economic and political institution building can reinforce each other and concludes that support for market-based reform and private sector-led growth can strengthen democratic progress.
In addition, the report places a strong emphasis on the role that both traditional and new media as well as civil society can play in supporting reforms by increasing the transparency of public decision-making and encouraging public officials to become more accountable. Drawing on new data, the Transition Report also explains the importance of social inclusiveness in the reform process. “Reforms that benefit only a minority will sooner or later lose support,” it says.