The Transition from a Command to a Market Economy: Is Kazakhstan a Success Story in terms of Economic Performance?
Kazakhstan has made considerable progress in shifting from command to a market economy. The transition process towards a “market economy was expected to enhance the economic performance” of the country which in turn was anticipated to uplift the life of a common man. This study, therefore, aims“ to examine the impact of economic freedom on economic growth” of Kazakhstan. The results indicate that though the reform process of Kazakhstan is in a transition phase, yet economic freedom has contributed positively“ towards the economic growth” of the country.“The results also indicate that in sub-indicators of economic freedom, monetary freedom” and protection of property right have contributed to the growth of Kazakhstans economy while an increase in government size impedes the economic growth of the country."
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Transition, Market economy, Reforms, Economic Freedom
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(1) Shaukat Hussain
PhD Scholar,Department of International Relations,Preston University, Islamabad, Pakistan.
(2) Javed Iqbal
Associate Professor,School of Economics, Quaid-i-Azam University, Islamabad, Pakistan.
(3) Zulfaqar Ali Chughtai
Professor,Department of International Relations, Preston University, Islamabad, Pakistan.