First, describe the patterns of trade. What do they export and to whom? What do they import and from whom? Is this trade large compared to their GDP?
Second, try to explain these patterns of trade. What is the comparative advantage of your country? What factors do you think contribute to the comparative advantage?
Suggested sources: The Observatory of Economic Complexity (OEC) (Links to an external site.) , websites from Week 1’s assignment.
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1 Kyrgyzstan Economic Development geography and institutions Yinan tong ECN115B Prof: Matthew Curtis 2 Kyrgyzstan is a landlocked Central Asian Country bordering Uzbekistan, China, Tajikistan, and Kazakhstan. The country is popular for its beautiful mountainous landscape and various natural resources such as hydropower, gold, coal, oil, natural gas, and rare earth metals (Osmonbetov, 2020). Kyrgyzstan has a well-established transportation system, and traveling is fun and easy mainly due to the attractive sights along the way. Economically, it is a lowermiddle-income nation with a small economy dominated by agriculture, reliance on remittances from nationals working in foreign countries, and minerals extractions. The country has an ethnically mixed population of about six million people, with only one-third of the population living in urban areas. Kyrgyzstan gained independence on 31st August 1991 after separating from the Soviet Union and became a unitary multiparty republic with a single legislative chamber.
Kyrgyzstan’s mining industry has played a significant role in its economic development (Osmonbetov, 2020). The emergence of mining firms in the rural areas increased employment opportunities and well-paying jobs for the locals. The local employees’ high income increased the purchasing power, hence stimulating the local production of commodities and services, which significantly contributed to the country’s economic growth. Also, remittances from workers abroad have supported Kyrgyzstan’s economic growth (Kumar et al., 2017). Besides, the mining industry’s long-term projects attracted huge credits and foreign capital that facilitated new mines’ construction, which promoted infrastructure development in the country’s remote regions (Lee & Mah, 2020). Kyrgyzstan’s mountainous terrain created a favorable environment for agriculture which contributes nearly 20% to the Gross Domestic Product (GDP).
The government’s efforts to diversify the country’s economy through reforms have also played a key role in improving public-private partnerships, investment competitiveness, and trade. 3 References Kumar, R., Stauvermann, P., Patel, A., & Prasad, S. (2017). The Effect of Remittances on Economic Growth in Kyrgyzstan and Macedonia: Accounting for Financial Development. International Migration, 56(1), 95-126. https://doi.org/10.1111/imig.12372 Lee, E., & Mah, J. (2020). Industrial Policy, Industrialization and Economic Development of Kyrgyzstan. Asian Social Science, 16(9), 41. https://doi.org/10.5539/ass.v16n9p41 Osmonbetov, E. (2020). Availability and development of mineral reserves and resources in Kyrgyzstan. Gornyi Zhurnal, 74-77. https://doi.org/10.17580/gzh.2020.07.07
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