Bazaars and Trade Integration in CAREC Countries

This paper based on survey work as well as an examination of trade statistics is the first to have studied the economic and trade effects of bazaars in central Asia in a detailed way. It presents a wealth of information and statistics relating to critical income generating activities and seeks to uncover the vital role played by bazaars in supporting economic growth. The analysis conducted in this work is of policy interest: rather than treating bazaars as unorganized and undesirable features of a modern market economy, national authorities should foster the development of bazaars in view of the growth, employment-generation and poverty-fighting characteristics of the operations of bazaars. Indeed, without well-functioning bazaars, the cost of trade would be considerably greater, the prices of goods higher and availability more restricted, trade volumes considerably lower, and the powerful welfare-raising effects from re-exports (in which bazaars play a critical role) as well as trade itself would be greatly muted. The populations would be much the poorer. The remainder of this report is organized as follows: section one provides birds' eye-view of networks of bazaars: their structure and weight in local economies as well as their involvement in domestic and foreign trade activities. Section two provides estimates of trade mediated by bazaars based on both mirror, i.e., Central Asian's (CA's) trading partners' trade statistics and national statistics of Kazakhstan and Kyrgyzstan. Section three presents conclusions and outlines policy implications of empirical findings.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2009-05-13
Subjects:	BASKET OF GOODS, BENCHMARK, BENCHMARKS, BILL, BUSINESS CLIMATE, CENTRAL PLANNING, COMMODITIES, COMMODITY, COMMODITY PRICES, COMPARATIVE ADVANTAGE, COMPETITIVE EDGE, CONSUMER GOODS, CONSUMER PROTECTION, CONSUMERS, CONSUMPTION GOODS, COST OF IMPORTS, CROSS-BORDER COOPERATION, CUSTOMS, CUSTOMS PROCEDURES, CUSTOMS REGULATIONS, CUSTOMS TERRITORY, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DOMESTIC CONSUMPTION, DOMESTIC DEMAND, DOMESTIC MARKETS, DOMESTIC PRODUCERS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, EXPECTED VALUES, EXPENDITURE, EXPENDITURES, EXPORT PRODUCTS, EXPORTERS, EXPORTS, FAIR, FINISHED PRODUCTS, FIXED COSTS, FOREIGN CAPITAL, FOREIGN EXCHANGE, FOREIGN EXCHANGE EARNINGS, FOREIGN GOODS, FOREIGN SALES, FOREIGN TRADE, FOREIGN TRADE OPERATIONS, GDP, GDP PER CAPITA, GOLD, GROSS NATIONAL INCOME, GROWTH IN TRADE, HOTELS, IMPORT, IMPORTS, IMPORTS OF CONSUMPTION, INCOME EFFECTS, INCOME GROUPS, INCOME LEVELS, INCOME TAX, INCOMES, INSURANCE, INTERNATIONAL TRADE, INVESTMENT EXPENDITURE, MARKET ECONOMIES, MARKET ECONOMY, MARKETING, MARKETPLACE, MARKETPLACES, MERCHANDISING, NATIONAL INCOME, OIL EXPORTS, POSITIVE EXTERNALITIES, POVERTY ALLEVIATION, POVERTY REDUCTION, PRICE OF OIL, PRIVATIZATION, PROPERTY RIGHTS, PROTECTIONIST, PUBLIC POLICY, PURCHASING, PURCHASING POWER, RAPID EXPANSION, RAPID GROWTH, RE-EXPORTS, REAL CONSUMPTION, RECESSION, REEXPORT, RENT SEEKING, REPUTATION, RETAIL, RETAIL STORES, RETAIL TRADE, SALE, SALES MARGINS, SELLING PRICE, SHARE IN TRADE, SHOPS, SIDE EFFECTS, SLOWDOWN, SPECIAL PROCEDURES, STATISTICAL ANALYSIS, SUPPLIER, SUPPLIERS, SUPPLY RESPONSE, SURPLUS, TARIFF RATES, TAX, TAX CODES, TAX REGIME, TAX REVENUES, TOTAL EXPORTS, TOTAL IMPORTS, TOTAL SALES, TRADE BARRIERS, TRADE CLASSIFICATION, TRADE DATA, TRADE IN GOODS, TRADE INTEGRATION, TRADE POLICY, TRADE REGIME, TRADE STATISTICS, TRADEMARK, TRADES, TRADING ACTIVITIES, TRADING PARTNERS, TRANSPORTATION COSTS, TURNOVER, TURNOVERS, UNEMPLOYMENT, VALUE ADDED, WAGES, WAREHOUSES, WEALTH, WHOLESALE TRADE, WHOLESALERS, WORLD DEVELOPMENT INDICATORS, WORLD ECONOMIES,
Online Access:	http://documents.worldbank.org/curated/en/2009/05/11102940/bazaars-trade-integration-central-asia-regional-economic-cooperation-carec-countries https://hdl.handle.net/10986/18609
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