Output Decline in Transition: The Case of Kazakhstan

April 1, 1998

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Output Decline in Transition: The Case of Kazakhstan, (USA: International Monetary Fund, 1998) accessed November 12, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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.

Subject: Agricultural sector, Commodities, Economic sectors, Industrial sector, Labor, Production, Total factor productivity

Keywords: Agricultural sector, Baltics, Clearing operation, Economic system, Enterprise, Industrial sector, Kazakh economy, Kazakhstan, Output decline, Price liberalization, Total factor productivity, Transition economies, WP

Publication Details

Pages:

78
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1998/045
Stock No:

WPIEA0451998
ISBN:

9781451974393
ISSN:

1018-5941

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