Output Decline in Transition: The Case of Kazakhstan
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Summary:
This paper presents a detailed analysis of the output decline in Kazakhstan in the early years of the transition. The decline is documented at the aggregate and sectoral levels, and the quality of the available data is reviewed. A growth accounting framework quantifies the productivity slowdown in Kazakhstan and illustrates how excessive capital accumulation under central planning has contributed to the output decline. In addition, strong evidence is found that disorganization and inherited sectoral misallocation have played a significant role. Credit contractions and reductions in aggregate demand may have had an effect, but clear patterns of causality cannot be established.
Series:
Working Paper No. 1998/045
Subject:
Agricultural sector Commodities Economic sectors Industrial sector Labor Production Total factor productivity
English
Publication Date:
April 1, 1998
ISBN/ISSN:
9781451974393/1018-5941
Stock No:
WPIEA0451998
Pages:
78
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