: / Strategies / Comprehensive Development Framework for the Kyrgyz Republic (2001)

Kyrgyzstan Review, 10 years ago

Appendix I. Glossary

Bio-diversity range of living organisms including ecological systems and ecological complexes they constitute.
Civil society - the aggregate of non-governmental structures, organizations and institutions that manifest interests and will of citizens, and which are protected by law from interference by state authorities and independently determine form of relations with the state. Civil society includes different permanent and temporary associations (professional, political, interest groups, other organizations with fixed or free membership). As a result of long development there is modern understanding of a civil society based on human values. Its main elements are: diversity and equality of ownership forms, freedom of labor and entrepreneurship, ideological diversity and freedom of information, firmness of human rights and freedoms, developed self-governance, family as a main social group. Civil society expresses dynamic and multisided range of viewpoints and values that exist in the society.
Current account a section of countrys balance of payments, which reflects volume of export and import of goods and services, income from investments and volume of transferred payments.
Decentralization - the process of delegating part of authorities and responsibilities from top state agencies to lower levels of government or to non-governmental institutions.
Economic and social effectiveness ratio between results obtained (effect) and costs incurred. Quantitative indicators of social and economic effectiveness enable to determine the size of the effect and to select the best options in addressing economic and other issues.
Forward transactions (contracts) an individually concluded non-standard contract, according to such contract, profit and losses are determined by the time of its execution. The most popular contracts are forward foreign exchange rate contracts and forward interest rate contracts. This type of financial contracts is closely linked to swap transactions and is one of the instruments of hedging foreign exchange and other financial deals.
Globalization - the aggregate of international processes that became possible due to internationalization of political, social, financial, scientific, technological, informational, ecological and other changes taking place in the world. This process makes boundaries of states more transparent and increases links between countries in the course of global development.
Human capital represents unique creative and innovative potential of an individual, and is the aggregate of productive qualities, obtained knowledge and skills of a worker, as well as motivation and energy used in production of economic, social and other benefits. Human capital is directly related to aggregate expenditures that went into development and reproduction of human potential, including knowledge of general educational and special nature, skills, accumulated experience, health status, etc. In this relation, spheres of activities which form human capital, (educational, scientific complex, first of all) are regarded as investment sectors of intangible production.
Illegal (shadow) economy unlawful economic activity of individuals and legal entities or concealment of legal economic activities in order to evade taxes and other mandatory payments.
Infrastructure - sectors, enterprises and organizations that create conditions for normal functioning of production and turnover of goods, support activities and development of people, enterprises, organizations and the country as a whole.
Investment policy an integral part of an economic policy pursued by the state and legal economic entities in the form of establishing structure and range of investments, determining priorities, usage, and sources.
Gini coefficient is a commonly used measure of inequality of income (or consumption expenditure). Coefficient characterizes the range of actual deviation of income from absolute equality or absolute inequality. With perfect equality, the Gini ratio would equal zero; with perfect inequality, it would equal one. Thus, the coefficient is established between 0 and 1. The closer this coefficient is to 1, the more uneven if distribution of income in a society.
Local community a group of rural or urban people unified by common interests in resolving issues of local importance through their representative and other bodies.
Local self-government - arrangement of activity of people for an independent, initiative decision-making process with regard to issues of local significance and undertaking responsibility for such decisions, based on peoples interests, its national, ethnic, historical and other peculiarities. Local self-governance is enforced by people through its representative bodies of power (councils, committees, etc.), relevant bodies of governance (local administrations), meetings, rallies of people, other territorial forms of democracy. In accordance with legislature local self-government agencies can have certain government powers and functions.
Macro-economic policy - actions of the government aimed at the regulation of the economy for the purposes of supporting its stable condition and ensuring its reliable functioning and development.
Monetary policy an economic policy, based on capacities of a monetary-lending system to affect functioning and development of an economy, assure market balance and reduce inflation.
Monitoring process of collecting and analyzing data related to performance of a project, and comparing the findings with expected results.
Net export value of domestic goods sold abroad (export) less import.
Program a set of political, legislative, social, economic, research and other organizational activities, tied with resources, terms, executors and sources of finance, aimed at addressing priority development tasks of the state and society, an instrument for regulation of economic and social relations.
Prudential norms a system of limits and restrictions, imposed on banks in order to ensure their stability and protect depositors interests.
Safe development - the aggregate of living conditions under which possibilities of development are not limited or threat is reduced to a minimum.
State governance execution of political and administrative power, carrying out economic and social regulation at all levels for the purpose of providing development of the country and the society. It includes formal institutions, mechanisms and procedures by which citizens can express their interests, enforce their legal rights, perform obligations and resolve contradictions.
Strategy - qualitative determination of long-term development directions related to the sphere, means and types of activities that ensure achievement of targets.
Sustainable human development a comprehensive approach to development in which the society plays the central role by means of integrating social, economic, environmental purposes. Sustainable human development is a development that protects the poor, guards the nature, supports women and creates job opportunities (Source National Strategy for Sustainable Human Development).
Swap transaction an exchange transaction in which conclusion of a deal for purchase or sale of securities, foreign exchange, etc. is accompanied by a conclusion of a reverse deal on the same or other conditions after certain period of time.
Syndicated credit a credit rendered by two or more creditors-syndicates (consortiums) of banks to one borrower; a syndicated credit is usually used when credit volume or risk is too large for one bank.
Transfer payments not ending in direct receipt of goods; a sort of economic transactions between agents or social payments from one agent to another without any compensation.