REFLECTIONS ON MARKETS AND REGULATORY PRINCIPLES IN THE CITIES OF THE LOWER ZARAFSHAN VALLEY

Résumé

The market system that emerged in the Lower Zarafshan Valley between 1868 and 1920 was characterized by a complex commercial infrastructure consisting of caravanserais, tim, chorsu, and specialized marketplaces. During this period, the abundance and functional diversification of trade facilities reflected the diversification and stable development of the urban economy. Market administration operated through a structured system that included a rais, amlokdor, and tax collectors. In monetary circulation, accounting and credit exchange based on gold–coin–cash ratios further intensified commercial activity. Overall, this period is distinguished by the advanced infrastructure, strict administrative governance, and balanced economic relations of the Bukhara markets.