About the product
This publication examines economies of Kazakhstan and Uzbekistan through the discussion of the IMF model of the economic transition. The publication demonstrates the flaws in the IMF model by pointing out slower economic recovery of Kazakhstan and Uzbekistan than predicted. The paper explains how the IMF model can be improved by taking in account the impact of natural resource abundance for the transition. Often having detrimental effect on economies in transition, wealth of natural resources has delayed the needed reforms in mineral-rich Kazakhstan and cropland-rich Uzbekistan. Ultimately the publication presents conclusions and draws policy implications.