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: Paperback / softback
Length: 158 pages
Publication date: 29 January 2024
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 that markets and bazaars are often embedded within states where clientelism thrives, further contributing to the informal nature of economic transactions.

Secondly, the book explores the personal nature of small business operations in Central Asia and the Caucasus, emphasizing the importance of networking and social relations in fostering trust and cooperation. It highlights how informal markets and trade provide a platform for individuals to negotiate changes in state and society, challenging the dominant narratives of state-led development and economic transformation. The chapters showcase the diverse experiences of entrepreneurs, traders, and consumers in these markets, shedding light on the complexities and challenges they face in navigating the informal economy.

Thirdly, the book argues that informality should be considered a strategic advantage for polities in Central Asia and the Caucasus. It suggests that the inability or unwillingness of states to measure commercial transactions allows for greater flexibility and adaptability in economic activities. Moreover, the highly personalized nature of small business operations enables individuals to navigate complex social and political landscapes, fostering resilience and innovation in the face of economic uncertainty.

In conclusion, this edited book makes a substantial contribution to the study of trade and informal markets in Central Asia and the Caucasus. It provides a comprehensive and nuanced understanding of the role of informal markets and trade in shaping society and state in the region. The research presented in this volume will be valuable to academics, researchers, advanced students, and practitioners interested in 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 have been revised and updated for this edition.

Weight: 453g
Dimension: 246 x 174 (mm)
ISBN-13: 9781032195827