Analyze Uzbekistans economy Term Paper Example | Topics and Well Written Essays - 1500 words

Analyze Uzbekistans economy - Term Paper ExampleUzbekistans economy has been through its share of the initial down when it was formed. It relieved its independency in 1991, and since that time, Uzbekistan has undergone economic transformations to strive to become factor in the global economy. The collapse of the Soviet Union and the birth of Uzbekistan had left the body politic exposed because of the inestimable downfall of the network of trade and suppliers. The country only had raw materials and semi processed goods available for exports, making them luxuriouslyly vulnerable to the world economy and hence creating a dependency on the worlds commodity prices. Uzbekistan at that time had to take drastic steps to induce polices and reforms that would influx market base aspects. However, the governance of Uzbekistan under Karimov had different set of economic ideas. He introduced policies that had the sole intention of creating control over the economy and these policies played no heed towards producing and implementing morphologic reforms. The economic liberation of the country in the beginning was very much controlled and the government was very cautious in its moves. The economic policies have somehow ensured a slow regression of privatization keeping more of government control in the state. The ineffectiveness of the economic forums brought the Uzbekistans economy as rendering and deterring factors for the foreign investments. The country then was too reluctant to listen to the economic advice on reforms by the World Bank, the IMF and various economic institutions. This led to abrupt increase in high levels of corruption and showcased the world about the extreme bureaucratic inefficiency to develop business initiatives.The core issue post independence was the soaring state control and tyrannical style of economic power. The following will shed more light on Uzbekistans post independence economic woes Privatization has been very slow and