International Conference on Eurasian Economies
11-13 October 2012 – Almaty, KAZAKHSTAN
Paper detail
Paper ID : 424
Status : Paper published
Language : Turkish
Topic : Growth and Development
Presenter: Prof. Dr. Ayşen Hiç Gencer
Session : 1B Büyüme ve Gelişme I
The Relationships between Competitiveness and Economic Growth: A Study on the Countries of Central Asia and Caucasus
Rekabet Gücü ve Ekonomik Büyüme İlişkileri: Orta Asya ve Kafkasya Geçiş Ekonomileri Üzerine Bir İnceleme
- Prof. Dr. Cevat Gerni (Istanbul Beykent University, Türkiye)
- Prof. Dr. Selahattin Sarı (Doğuş University, Türkiye)
- Prof. Dr. Ayşen Hiç Gencer (Istanbul Beykent University, Türkiye)
- Assoc. Prof. Dr. Ziya Çağlar Yurttançıkmaz (Atatürk University, Türkiye)
Abstract
The relationships among input, production and market suddenly broke down after the collapse of the USSR in 1991. The reflections of this disintegration are deeply felt in the Central Asian and in the Caucasian economies, which lack the traditions of being a government. The imbalances in the supply and demand, such as shutting down of factories due to breakdown of production relations and the resulting severe rise in the unemployment rate, caused a transition recession. As well-known in the literature, the main reason behind this is the interdependency of the production structures in these newly independent former Soviet countries. Large industrial establishments were left alone due to lack of sufficient raw materials and other inputs, due to lack of new technologies, and/or due to political void resulting from the transition period. In the newly established economic and political system, all of these countries, namely Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan, try to realize their economic growth and development by specializing in the production of goods in which they have an economic advantage in terms of competitiveness. In this study, the effects of competitiveness on economic growth is investigated for these 7 countries during the 1995-2010 period using panel data analysis based on the Lafay index. In the light of the results of this research, policy recommendations are attempted in order to determine the sectors in which these countries are more competitive and hence to suggest ways of increasing their economic growth rate.
JEL codes: F14, F43, F59
Gerni, Cevat, Sarı, Selahattin, Gencer, Ayşen Hiç, Yurttançıkmaz, Ziya Çağlar (2012). "The Relationships between Competitiveness and Economic Growth: A Study on the Countries of Central Asia and Caucasus" in Proceedings of International Conference of Eurasian Economies 2012, pp.140-150, Almaty, KAZAKHSTAN.
DOI: https://doi.org/10.36880/C03.00424
Session 1B: Büyüme ve Gelişme I
