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.


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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Author Biography

Farrukh Jumayev, Kyung Hee University, Seoul, Republic of Korea.

PhD, Economics Department, Kyung Hee University, Seoul, Republic of Korea.


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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.