Paper/Speech Details of Conference Program for the 19th NISPAcee Annual Conference Program Overview General Session Author(s) Aziz Klebleyev Tallinn University of Technology Tallinn Estonia Title National savings as the determinant of growth: Case of Uzbekistan File Paper files are available only for conference participants, please login first. Presenter Abstract Introduction In the past century China, Korea, Japan, and other East Asian countries, despite the lack of major natural resources, were able to achieve exceptional growth rates. One of the most prominent theories used to explain their success is developmental state theory. There are different views on what particular policies the developmental state theory entails. They vary from simply ensuring of macroeconomic stability to heavy government intervention in trade and industrial policy (Akyuz & Gore, 1996; Johnson, 1982; World Bank, 1993). This paper accepts the argument that developmental state theory entails an active government role in mobilization and allocation of resources. It aims at detailing some the resource mobilization mechanism as well as the reasons why they are successful. In the second section of the paper I provide background on the developmental state theory. This section also examines the change in the perception of state’s role in the economic development. The third, fourth, fifth and sixths sections examine a case of Uzbekistan. The third section deals with various strategies used by the state to increase public savings directly, while the fourth section examines indirect methods of capital mobilization used by the government. The fifth section deals with the political and social conditions that resulted in little local resistance to the government efforts to raise public savings, while the sixth section analyzes how the increase in public savings effected the economic growth. Section seven concludes the paper.
