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Institutional Permeability and Cross-Border Transmission: Evidence from Uzbekistan’s 2017 Liberalization
by Aaron Williams Lam Abstract While standard diffusion frameworks predict that liberalizing reforms generate positive spillovers in geographically proximate regions, borders are not frictionless membranes. Even observable connectivity may fail to translate into cross-border economic co-movement when institutional frictions govern whether interaction activates transmission. Using Uzbekistan’s 2017 exchange-rate unification as a natural experiment, this paper […]
