Commitment devices, opportunity windows, and institution building in Central Asia



recent years, such that investing in education and human capital increases the preferences for
property rights protection and more market-based institutional arrangements in order to ensure
that individuals can benefit from their human capital accumulation.

However, one should bear in mind that there is a second factor related to education which
can be linked to persistence of institutional settings. A large number of public and private
employees in Central Asia, still in key positions after the breakdown of the socialistic regime, were
educated under the socialistic system. It is obvious that a curriculum in socialistic book-keeping,
banking supervision, and legal treatment of property rights differed remarkably from what a
market-based economy demands. In this case persistence may simply arise from the complexity
of setting up market based institutions and policy makers’ lack of knowledge about how to
implement and to execute certain institutional arrangements. The accumulated knowledge of
these employees, therefore, does not assist them in executing their tasks and probably makes
redesigning institutions impossible.3

3 Openness, Commitment, and Economic Reforms

So far, preferences of individuals and politicians, alongside with the deficiencies in the education
system appear to be the major obstacles in the reform process in Central Asia, whereas the
3Vaclav Klaus (1990) summarised this as ”When we want to play chess, we must know how to play.”



More intriguing information

1. The Impact of Optimal Tariffs and Taxes on Agglomeration
2. AN EXPLORATION OF THE NEED FOR AND COST OF SELECTED TRADE FACILITATION MEASURES IN ASIA AND THE PACIFIC IN THE CONTEXT OF THE WTO NEGOTIATIONS
3. On s-additive robust representation of convex risk measures for unbounded financial positions in the presence of uncertainty about the market model
4. EDUCATIONAL ACTIVITIES IN TENNESSEE ON WATER USE AND CONTROL - AGRICULTURAL PHASES
5. The name is absent
6. Rent-Seeking in Noxious Weed Regulations: Evidence from US States
7. The name is absent
8. Fiscal Insurance and Debt Management in OECD Economies
9. Economie de l’entrepreneur faits et théories (The economics of entrepreneur facts and theories)
10. Trade and Empire, 1700-1870
11. Social Irresponsibility in Management
12. A novel selective 11b-hydroxysteroid dehydrogenase type 1 inhibitor prevents human adipogenesis
13. TWENTY-FIVE YEARS OF RESEARCH ON WOMEN FARMERS IN AFRICA: LESSONS AND IMPLICATIONS FOR AGRICULTURAL RESEARCH INSTITUTIONS; WITH AN ANNOTATED BIBLIOGRAPHY
14. The name is absent
15. APPLYING BIOSOLIDS: ISSUES FOR VIRGINIA AGRICULTURE
16. The quick and the dead: when reaction beats intention
17. Towards a Mirror System for the Development of Socially-Mediated Skills
18. CURRENT CHALLENGES FOR AGRICULTURAL POLICY
19. The name is absent
20. The name is absent