Informal Markets and Trade in Central Asia and the Caucasus

This edited book introduces new research on informal markets and trade in Central Asia and the Caucasus, based on field research in Armenia, Georgia, Kazakhstan, Kyrgyzstan, and China. It suggests that informality should be seen as a normative order due to the inability of states to measure commercial transactions, the personalized nature of small business operations, and the embedded nature of markets and bazaars within states.

Format: Hardback
Length: 158 pages
Publication date: 12 April 2022
Publisher: Taylor & Francis Ltd

This edited book presents groundbreaking research on informal markets and trade in Central Asia and the Caucasus. Drawing from extensive fieldwork in Armenia, Georgia, Kazakhstan, Kyrgyzstan, as well as Beijing, Guangzhou, Yiwu, and the Xinjiang Uyghur Autonomous Region in China, the nine chapters showcased in this volume shed light on the role of informal markets and trade in facilitating societal and state transformations in the region since the collapse of the Soviet Union and the emergence of successor states.

Firstly, the book emphasizes the challenges faced by states in measuring commercial transactions, highlighting the informal nature of many economic activities in Central Asia and the Caucasus. It suggests that informality should be viewed as a normative order rather than a mere anomaly, as it accommodates the unique characteristics of small business operations, which are deeply rooted in networking, social relations, oral agreements, and trust. Moreover, the book points out the prevalence of markets and bazaars within states where clientelism thrives, further reinforcing the significance of informal economic activities in the region.

Secondly, the book underscores the personal nature of small business operations in Central Asia and the Caucasus, emphasizing the importance of networking and social relations in fostering business relationships. It highlights the reliance on oral agreements and trust as key mechanisms for conducting business, which differ significantly from the formalized legal frameworks prevalent in more developed economies. This personalized approach to business transactions contributes to the resilience and adaptability of informal markets and trade in the region.

Thirdly, the book argues that informal markets and trade play a crucial role in shaping the political and social landscapes of Central Asia and the Caucasus. It suggests that these markets provide a platform for marginalized groups and individuals to voice their grievances, challenge dominant power structures, and advocate for social and economic change. By offering an alternative economic system that bypasses state regulations and bureaucracy, informal markets and trade have the potential to empower marginalized communities and promote greater social inclusion.

In conclusion, this edited book makes a substantial contribution to the study of trade and informal markets in Central Asia and the Caucasus. By presenting a comprehensive analysis of the role of informal markets and trade in the region's history, politics, and society, it offers valuable insights for academics, researchers, and advanced students of Sociology, History, Politics, Business, Economics, Social Anthropology, and Geography. The chapters in this book were originally published as a special issue of the journal, Central Asian Survey, and their insights and findings will undoubtedly inspire further research and discussion in the field.

Weight: 470g
Dimension: 246 x 174 (mm)
ISBN-13: 9781032195810