This edited book introduces new research on informal markets and trade in Central Asia and the Caucasus. The research presented in this volume is based on recent field research in Armenia, Georgia, Kazakhstan and Kyrgyzstan, as well as Beijing, Guangzhou, Yiwu and the Xinjiang Uyghur Autonomous Region in China. The nine chapters in this book illustrate how informal markets and trade in Central Asia and the Caucasus have provided space for millions of people across the region to negotiate changes in state and society in the three decades since the breakup of the Soviet Union and the emergence of successor states. Collectively, the book suggests that informality should be seen as a normative order for polities in Central Asia and the Caucasus for three reasons: (1) The inability – or unwillingness – of the states to measure commercial transactions. (2) The highly personalized nature of small business operations that rest on networking and social relations, oral agreements and trust. (3) Markets and bazaars being embedded within states in which clientelism frequently thrives. This book is a significant new contribution to the study of trade and informal markets in Central Asia and the Caucasus, and will be a great resource 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.

This study estimates the size of the informal economy, and the relative contribution of each underlying factor, for the Caucasus and Central Asia countries in 2008. Using a Multiple Indicator-Multiple Cause model, we find that a burdensome tax system, rigid labor market, low institutional quality, and excessive regulation in financial and products markets are determinant factors in explaining the size of the informal economy, which ranges from 26 percent of GDP in Kyrgyz Republic to around 35 percent of GDP in Armenia. Furthermore, the results show that higher levels of informality increase the levels of self employment and the percentage of currency held outside the banking system.

The Caucasus and Central Asia (CCA) countries are at an important juncture in their economic transition. Following significant economic progress during the 2000s, recent external shocks have revealed the underlying vulnerabilities of the current growth model. Lower commodity prices, weaker remittances, and slower growth in key trading partners reduced CCA growth, weakened external and fiscal balances, and raised public debt. the financial sector was also hit hard by large foreign exchange losses. while commodity prices have recovered somewhat since late 2014, to boost its economic potential, the region needs to find new growth drivers, diversify away from natural resources, remittances, and public spending, and generate much stronger private sector-led activity.

The book is about the economic practices of traders and businesspeople from the Caucasus and China who work in local bazaars in Tbilisi and Beijing. It describes their activities, their motivations, their socio-cultural backgrounds, their work environments, and their interactions with one another. Contributing to a broader debate on the nature and role of informal economic practices in the post-Soviet periphery and processes of “globalization from below”, the book aims at providing a thick description of the embeddedness of bazaar traders’ economic behaviors and strategies in local and global political, economic, and cultural contexts, markets and supply chains.

This book argues that American and European policies toward Central Asia and the Caucasus suffer from both conceptual and structural impediments. It traces the framework of Western policies to the 1975 Helsinki Final Act, which resulted in the stovepiping of relations into political, economic, and democracy categories – and in often uncoordinated or contradictory policies. While the authors embrace the goal of promoting human rights and democracy, they argue that the antagonistic methods adopted to advance this goal have proven counter-productive. They propose that Western governments work with the regional states rather than on or against them; and that instead of focusing directly on political systems, policies should focus on developing the quality of governance and help build institutions that will be building blocks of rule of law and democracy in the long term. The authors also argue that Western leaders have largely failed to grasp the significance of this region, relegated it to a subordinate status and thus damaging western interests. The development of sovereign, economically strong, and effectively self-governing states in the Caucasus and Central Asia is an important goal in its own right; the book stresses the importance of a region where the development and preservation of secular statehood could become a model for the entire Muslim world.

The Legends in Marketing series captures the essence of the most important contributions made in the field of marketing in the past hundred years. It reproduces the seminal works of the legends in the field, supplemented by interviews of these legends as well as by the opinions of other scholars and experts about their work. The series comprises of various sets, each focused on the multiple ways in which a legend has contributed to the field. This fourth set in the series, consisting of 9 volumes, is a tribute to Naresh K Malhotra. Known as a consistently outstanding researcher, refreshingly innovative teacher, and truly pioneering author, Professor Malhotra is listed in Marquis’ Who’s Who in America continuously since the 51st edition, 1997, and in Who’s Who in the World since 2000. This set includes: Volume 1: Research Methodology: Conjoint Analysis, Multidimensional Scaling, and Related Techniques Editor: James Agarwal Volume 2: Research Methodology: Research Design and Data Analysis Editor: Lan Wu Volume 3: Consumer Behavior: Information Processing and Decision Making Editor: Ashutosh R Patil Volume 4: Consumer Behavior: Attitude, Intention, and Choice Behavior Editor: Tracey M King Volume 5: Marketing Management and Policy Editor: Can Uslay Volume 6: International and Cross-cultural Marketing Editor: Francis M Ulgado Volume 7: Marketing of Services: Retailing and Health Care Editor: Charla Mathwick and Neale Martin Volume 8: Ethics, Quality of Life, and Pedagogy Editor: Gina L Miller Volume 9: Management Information Systems, Technology, and Marketing Editor: Sung S Kim and Alka V Citrin