View article

While analysing in detail the agrarian transition that is taking place in two former Soviet Central Asian republics, Uzbekistan and Kyrgyzstan (concentrating on agrarian reform, deregulation and financial institutions), the crude classifications that are normally used as framework, such as ‘slow’ versus ‘fast’ reforms or ‘gradualism’ versus ‘shock‐therapy’ are seen as not very useful. These transitions are highly complex and diverse, and therefore any analysis and policy design must be based on a real understanding of the institutional setting of the agrarian sector. It is concluded that agrarian markets are not spontaneously appearing, and that there is an important role for the state to promote ‘the construction of markets’.