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Crowding-out (or -in) effect in transition economies: Kyrgyzstan case

Cunus GANİEV

Purpose: The crowding-out and crowding-in effects have been at the core of arguments among economists regarding the influence of government spending on private investment. This study aims to examine the crowding-out (or -in) effect of public spending on private investment in the transition economy of Kyrgyzstan. Design/methodology/approach: The empirical model is an autoregressive distributed lag (ARDL) and the vector autoregression approach (VAR). Monthly data from 2005 to 2013 of the private investment, government expenditures, remittances from abroad and broad money data were used in the em ...Более

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Microbial communities in pesticide-contaminated soils in Kyrgyzstan and bioremediation possibilities

Tinatin DOOLOTKELDİEVA | Mahabat KONURBAYEVA | Saykal BOBUŞOVA

In Kyrgyzstan, many former storehouses and dump sites for obsolete pesticides exist. In 2009/2010, an inventory and assessment of these sites including risks of environmental hazard has been conducted by FAO and the World Bank. Monitoring revealed high concentration of pesticides listed as persistent organic pollutants (POPs). The purpose of this research was to study the microbial structural complexes of the pesticide-contaminated soils in these dumping zones, and to search for and select microorganism’s destructors with cytochrome P450 genes for pesticide degradation. Culture-dependent and c ...Более

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Causal link between financial development and economic growth: the case of transition countries

Zamira ÖSKÖNBAYEVA

The financial market is an important element of any market economy. The study of the impact of financial development on the country The main objective of this study is to investigate the causal relationship between financial development, trade openness and economic growth. The empirical analysis of this study consists on panel data of 9 transition countries (Ukraine, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova and Tajikistan) over the period 1998 to 2015. In order to investigate the causal link between financial development and economic growth a three-stage Panel Gr ...Более

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Development of the Banking System in Kyrgyzstan: An Historical Review and Current Challenges = Kırgızistan'da Bankacılık Sisteminin Gelişimi: Tarihsel İnceleme ve Güncel Sorunlar

Dastan ASEİNOV | Kamalbek KARIMŞAKOV

Banking in transition economies differs from developing and developed economies with market system. This study aims to review development of the banking system in Kyrgyzstan since independence. The period under consideration is divided into five stages, each of which has a main distinctive aspect. Despite considerable achievements in last fifteen years the banking system still remains vulnerable to external shocks. Moreover, insufficient institutional infrastructure is one of the fundamental factors retarding further development of the banking system.

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