theme 8 Flashcards
What was the primary aim of the communist system in the Soviet Union?
To promote social justice and well-being of the people through public ownership and centralized economy.
What economic system did Uzbekistan operate under during the Soviet period?
A centrally planned economy with no ownership of natural resources or land.
What was the outcome of the Soviet economic policies in Uzbekistan regarding agricultural productivity?
Uzbekistan was about 40 percent behind the Soviet Union in labor productivity and twice as much in agricultural productivity.
What was the share of ready products in Uzbekistan’s industry during the Soviet period?
Only 50% of industrial products were ready products.
What were the two different forms of market relations identified in the economic development?
- Chaotic, coherent activity of manufacturers and consumers without prior agreement.
- Market economy governed by the state and regulated by economic laws.
What are the features of a market economy?
- Commodity producers are economically free.
- People are property owners of their products.
- Producers compete freely in the market.
- Consumers dictate demand.
- Community members are classified by income.
What are the five principles of the ‘Uzbek model’ of economic reform?
- De-ideologization of the economy.
- The state as the main reformer.
- Supremacy of law.
- Strong social policy.
- Gradual transition to a market economy.
What does de-ideologization of the economy entail?
The economy should develop according to its inherent laws without ideological pressure.
Who is considered the main reformer during the transition to a market economy in Uzbekistan?
The state.
What is the significance of the supremacy of law in a law-based state?
It establishes undivided dominance of law in all spheres of life, requiring all to obey the law.
What role does strong social policy play in Uzbekistan’s economic transformation?
It serves as a guarantee for economic transformation and stability.
What was the focus of social policy at the initial stage of market reforms?
Preventing a decrease in the consumption level of vital food products.
What is market infrastructure?
A complex of institutions, organizations, and enterprises that promote market relations.
What significant financial institutions were established in Uzbekistan post-independence?
- Republican Real Estate Exchange
- Commodity Exchange
- Tashkent Stock Exchange
What was the result of price liberalization in Uzbekistan?
It occurred without social shocks due to government support for vulnerable populations.
What was the goal of the Law of the Republic of Uzbekistan ‘On Restriction of Monopolistic Activities’?
To create a competitive environment in the economy.
What was the first step in economic reform in Uzbekistan?
Denationalization and privatization of property.
What was the outcome of the privatization process in Uzbekistan from 1992 to 1994?
About 54 thousand enterprises were denationalized, with significant portions becoming privately owned.
What role did the State Committee for Management of State Property and Privatization play in Uzbekistan’s reforms?
It organized and managed the privatization process.
What was the significance of the decrees adopted in January and March 1994?
They provided new impetus to the privatization process.
What was the GDP growth rate of Uzbekistan in 2016?
7.8%.
What was the inflation rate in Uzbekistan in 2016?
5.7%.
What is the projected GDP growth rate for Uzbekistan in 2025 according to the World Bank?
5.8%.
True or False: Uzbekistan’s economic growth rate has fluctuated between 6 to 7 percent annually over the last twenty years.
True.
