The role of the developed and developing economies in the Central Asian countries’ economic growth
Keywords:
Central Asia, PRC, Russia, economic growth, risks, institutions, strategy.
Abstract
The current state of economic development of the countries of Central Asia is controversive. Their GDP grows faster than the global GDP, but their economies from the other hand are extremely ineffective in distribution of wealth, the use of gained resources. In order to overcome this, multiple mechanisms are created, namely the development banks and institutions, BRI, EAEU etc. These institutions represent the interests of the major regional players. The article concentrates on the interests of Asian countries and Russia, giving a glance on the mechanisms these countries use and their real power in the region. The author conducted statistical analysis, used dilogical approach to the gains and losses of the economies of Central Asia in the context of their cooperation with major players – PRC, Russia, Japan and others. The risks of such cooperation were revealed too, firstly, the risks for economic growth, but including the risks of social character. The results of the study demonstrate that the current situation is far from positive, as every positive influence is controversed by negative. In this regard, the major finding s include this controversy, the recommendations for easing the issues of economic cooperation, the practical proof of the tightening grip of PRC on the region and the weakening influence of Russia in Central Asia.
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AEI. (2021). China Global Investment Tracker. Available at: https://www.aei.org/china-global-investment-tracker/
Bajpal, A. (2012). The “Rise Of Asia” Thesis: strategic constraints and theoretical deficits. World Affairs: The Journal of International Issues, 16(2), 12–37. https://www.jstor.org/stable/48504921
Batsaikhan, U., & Dabrowski, M. (2017). Central Asia — twenty-five years after the breakup of the USSR, Russian Journal of Economics, 3(3), 296-320, DOI: 10.1016/j.ruje.2017.09.005.
Campi, A. (2020). Mongolia’s response to increasing U.S.-China-Russia rivalry in Asia. Asia Pacific Bulletin, No. 521. Available at: https://www.eastwestcenter.org/publications/mongolia%E2%80%99s-response-increasing-us-china-russia-rivalry-in-asia
Carec. (2020). What is CAREC? Available at: https://www.carecprogram.org/?page_id=31
Carnegie. (2020). China in Central Asia: COVID-19 and Beyond. Available at: https://carnegieendowment.org/2020/09/08/china-in-central-asia-covid-19-and-beyond-event-7413
Contessi, N.P. (2020). In the Shadow of the Belt and Road. Eurasian Corridors on the North-South Axis. Available at: https://reconasia.csis.org/shadow-belt-and-road/
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Egorycheva, E.A. (2019). Central Asia as an area of China’s and Russia’s interests. RUDN Journal of Economics, 27(4), 732–742. DOI: 10.22363/2313-2329-2019-27-4-732-742
Emerson, M., & Vinokurov, E. (2009). Optimisation of Central Asian and Eurasian Inter-Continental Land Transport Corridors. MPRA Paper No. 20916. Available at: https://mpra.ub.uni-muenchen.de/20916/
Fumagalli, M. (2012). South Korea’s Engagement in Central Asia from the End of the Cold War to the “New Asia Initiative”. The Journal of Northeast Asian History, 9(2), 69-97.
Her, E. (1997). Еhe “great game”: Mongolia between Russia and china. The Mongolian Journal of International Affairs, № 4.
Hwang, B. (2021). A New Horizon in South Korea-Central Asia Relations: The ROK Joins the “Great Game”. Korea Economic Institute. Available at: http://keia.org/sites/default/files/publications/kei_koreacompass_template_balbinahwang.pdf
Juraev, S. (2014). Comparing the EU and Russia engagements in Central Asia. L'Europe en Formation, 374, 77-93. https://doi.org/10.3917/eufor.374.0077
Karymshakov, K. & Sulaimanova, B. (2021). The impact of infrastructure on trade in Central Asia. Asia Europe Journal, 19. DOI: 10.1007/s10308-021-00613-7
Kashin V., & Korolev A. (2018). China’s Foreign Aid to Central Asia States. World economy and international relations, 62(3), pp. 78-85. DOI: 10.20542/0131-2227-2018-62-3-78-85
Kazantsev, A, Medvedeva, S, & Safranchuk, I. (2021). Between Russia and China: Central Asia in Greater Eurasia. Journal of Eurasian Studies, 12(1), 57-71. DOI: 10.1177/1879366521998242
Korhonen, P. (1994). The Theory of the Flying Geese Pattern of Development and Its Interpretations. Journal of Peace Research, 31(1), 93–108.
Latham & Watkins Data Privacy & Security Practice (2021). China Issues New Regulations to Protect the Critical Information Infrastructure, Number 2892. Available at: https://www.lw.com/thoughtLeadership/China-Issues-New-Regulations-to-Protect-the-Critical-Information-Infrastructure
Lim, D., & Vreeland, J. (2013). Regional Organizations and International Politics: Japanese Influence over the Asian Development Bank and the UN Security Council. World Politics, 65(1), 34-72. doi: 10.1017/S004388711200024X
Mariani, B. (2013). China’s role and interests in Central Asia. Saferworld. Available at: https://www.files.ethz.ch/isn/172938/chinas-role-and-interests-in-central-asia.pdf
Meng, S., Yan, J. & Cao, X. (2019). Heterogeneity in top management teams and outward foreign direct investment: evidence from Chinese listed companies. Front. Bus. Res. China, 13, 16. https://doi.org/10.1186/s11782-019-0063-0
Mihr, A. (2020). Webs of corruption: trafficking and terrorism in central Asia. International Affairs, 96(1), pages 252–253, https://doi.org/10.1093/ia/iiz266
Mirkasimov, B., and Ahunov, M. (2017). Labor markets and informality: the case of Central Asia. Mpra. Available at: https://mpra.ub.uni-muenchen.de/78751/1/MPRA_paper_78751.pdf
Özcan, G.B. (2021). Chinese Business in Central Asia: How Crony Capitalism is Eroding Justice. Foreign Policy Research Institute. Available at: https://www.fpri.org/article/2021/03/chinese-business-in-central-asia-how-crony-capitalism-is-eroding-justice/
Pomfret, R. (2010). Exploiting Energy and Mineral Resources in Central Asia, Azerbaijan and Mongolia. Comparative Economic Studies, 53(2010-16). DOI: 10.1057/ces.2010.24
Pradhan, R. (2017). China’s Rise in Central Asia: The new silk road economic belt. World Affairs: The Journal of International Issues, 21(3), 50–61. https://www.jstor.org/stable/48531352
Raimondi, P.P. (2019). Central Asia Oil and Gas Industry - The External Powers’ Energy Interests in Kazakhstan, Turkmenistan and Uzbekistan. FEEM Working Paper No. 6.2019, DOI 10.2139/ssrn.3386053
Rakhimov, M. (2014). Central Asia and Japan: Bilateral and multilateral relations. Journal of Eurasian Studies, 5(1), pages 77-87. DOI: 10.1016/j.euras.2013.09.002
Rumer, E.B. (2006). China, Russia and the Balance of Power in Central Asia. Strategic Forum, 223. Available at: https://www.files.ethz.ch/isn/46312/SF223.pdf
Shah, J. (2019). Asian Economic Dynamics and Power Shifts. Advances in Economics and Business, 7(1), 31-38. DOI: 10.13189/aeb.2019.070104
The Green Finance & Development Center. (2021). Chinese BRI Investment 2013-2020. Available at: https://greenfdc.org/wp-content/uploads/2021/02/China-Investments-in-the-Belt-and-Road-Initiative-2013-2020-.png
Vinokurov, E., Balas, P., Emerson, M., Havlik, P., Pereboyev, V., Rovenskaya, E., Stepanova, A., Kofner, J., & Kabat, P. (2016). Development of Transport and Infrastructure in Eurasia IIASA project “Challenges and Opportunities of Economic Integration within a Wider European and Eurasian Space”. Workshop Report. International Institute for Applied Systems Analysis. Available at: http://pure.iiasa.ac.at/id/eprint/13965/1/Development%20of%20Transport%20and%20Infrastructure%20in%20Eurasia.pdf
Wilson, J. l. (2021). Russia and China in Central Asia: Deepening Tensions in the Relationship. ACTA VIA SERICA, 6(1), 55–90. DOI: 10.22679/avs.2021.6.1.003
Worldbank. (2020). GDP (current US$). Available at: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD
Published
2021-12-30
How to Cite
Jumayev, F. (2021). The role of the developed and developing economies in the Central Asian countries’ economic growth. Amazonia Investiga, 10(48), 181-188. https://doi.org/10.34069/AI/2021.48.12.19
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