THE WORLD CRISIS AND THE RAW-MATERIAL ORIENTED TRANSITION ECONOMIES

Abstract

Uzbekistan is among the countries whose economy contains a certain share of raw-material
branches. It even displays the symptoms of Dutch disease, which means that it should follow in the
footsteps of those countries that have already overcome their backwardness through correct policies.
We have in mind China, Indonesia, Malaysia, and certain others.
The above does not mean that rich natural resources interfere with economic advance, however
they do create greater risks and call for more careful economic steerage.
In fact, the resource-rich states can and should keep the potentially negative impact of their relative
resource abundance on economic growth under control. Countries with an inefficient processing
sector should not rely solely on the market mechanism, otherwise their future can be described as deindustrialization
and slow economic growth.
This means that economic science and politics should address the numerous urgent tasks and
rely on corresponding research.