キルギス共和国における急進主義的構造改革と企業行動－制度分析－
Radical Structural Reforms and Enterprise Performance in the Kyrgyz Republic:An Institutional Approach

Summary/Abstract: During the initial phase of transition towards a market-based economic system after the collapse of the Soviet Union at the end of 1991, the Kyrgyz Republic enjoys a good reputation among several international financial organizations, including the IMF and the World Bank. For instance, this country is recognized to have been at the forefront in implementing stabilization and economic reforms among the FSU countries. However, a comparative analysis of transitional economies conducted by EBRD as of the middle of 1998 clearly shows that the advantageous position of the Kyrgyz Republic in the progress of systemic transformation mostly vanished in comparison with the other former Soviet republics. In particular, the delay in enterprise reform, namely in the sphere of improvement of the corporate governance and restructuring of industrial firms, is one of crucial problems which the Kyrgyz government now faces. It is a fact that the breakup of the centralized socialist economic system of the USSR became an important factor in hindering Kyrgyz industrial firms from overcoming the difficulties in restructuring the management system under the dynamic changes of macroeconomic conditions. But this factor is not sufficient to explain why enterprise reform has been so delayed in this country. Therefore, the article aims to scrutinize the process of structural reform of the Kyrgyz economy from an institutional point of view and to point out essential problems of enterprise behavior which the path of systemic transformation in this country involves.

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