This chapter addresses the main causes and sources of sustainable economic growth in the region, emphasising the role of institutional changes—that is, regulatory reform—in the economic development of the region. Here, attention is drawn to the causes and sources of sustainable economic growth and economic liberalisation, which in Central Asia began in the early 1990s through the implementation of long-term structural transformations in the economy. Large-scale structural reforms were necessary to change the structure of the economy and create an institutional and regulatory framework in which new market participants would function effectively. This chapter also discusses policy measures aimed at privatising state assets and ensuring property rights, creating an environment conducive to business development by simplifying licencing and permit systems, eliminating costs and burdens for entering the market; liberalising trade and improving the investment climate; and modernising the financial sector in each Central Asian country. Each country has implemented such policies in various ways, at a different pace, and with distinct outcomes, all of which are illustrated in this chapter through analysis and numerical data.