Economy Of Kazakhstan Research Articles

Var analysis and monetary transmission mechanism in Kazakhstan

We explore monetary policy transmission by estimating VAR impulse response functions to illustrate the Kazakhstan economy’s response to unexpected changes in policy.This article helps to evaluate the work of the main channels of the monetary policy transmission mechanism, namely, the work of the interest rate channel, exchange rate, and lending channel in the Republic of Kazakhstan, by the help of vector regression model (VAR). It was revealed that the main transmission channel in the study period from 2005 to 2019 in Kazakhstan was the exchange rate channel.The other two remaining channels of the monetary policy transmission mechanism (the bank lending channel and the interest rate channel) were of secondary importance.We find a significant exchange rate pass-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary policy reaction function shows the central bank striking a balance between real exchange rate stability and containing inflation. We discuss dollarization, administrative interventions, and other features complicating monetary policy transmission, review specific constraints and vulnerabilities, and conclude with observations on possible measures that could raise the effectiveness of monetary policy in Kazakhstan.

DIGITALIZATION IN THE DEVELOPMENT OF HUMAN CAPITAL AS A CONDITION FOR COMPETITIVENESS AND ECONOMIC GROWTH OF THE REPUBLIC OF KAZAKHSTAN

Currently, the economy of Kazakhstan is in the process of global changes in the economic and technological structures. The situation in the labor market and educational services calls for changes in the content of education in relation to the modern requirements. Discloses a digital transformation sector: the importance of the balance of the strategy and tactics of business and society, issues involving the human capital and society in modernizing the management of the economy in terms of globalization. In the article the human capital is considered as the driving force behind the development of innovation-based economy, capable of responding to the challenges of the world civilization. Without the human capital development of a country can neither achieve sustainable economic growth, nor to create a contingent of workers who will be willing to take require retraining of workers of the future places or to compete effectively in the global economy. According to the authors the important role it is necessary to take digital technologies. It is necessary to completely review the contents of all levels of education and training in the IT-industry, in the field of organization of management through the development of digital skills. Currently, the economy of the Republic of Kazakhstan is at the stage of global changes in the economic and technological structures. The situation on the labor market and educational services necessitates changes in the content of education in relation to modern requirements. The sector of digital transformation is revealed: the importance of balancing the strategy and tactics of business and society development, the issues of involving human capital and society in managing the modernization of the economy in the context of globalization.The formation of a multicomponent information and educational environment, information and digital technologies make it possible to build completely new communications, as well as new relationships among people, the restructuring of the entire economy and society, so that our life is better and “smarter”. The modern economy is called the economy of effective human capital, which emphasizes its main role in the development and growth of the economy. Human capital is seen as the driving force behind the development of an innovative economy that can respond to the challenges of world civilization.It makes up more than half of the national wealth of each of the developing countries and the main intensive factor in economic growth and social development. The level of skills demanded by the labor market is changing rapidly, which creates both new opportunities and new risks.Without the development of human capital, countries will not be able to achieve sustainable economic growth, nor create a contingent of workers who will be ready to occupy advanced jobs for the future, or compete effectively in the global economic arena.

ПРОБЛЕМЫ ФУНКЦИОНИРОВАНИЯ НЕФТЕГАЗОВОГО КОМПЛЕКСА В УСЛОВИЯХ ФОРС-МАЖОРНЫХ ОБСТОЯТЕЛЬСТВ

The widespread spread of the new disease, which has covered almost all countries of the world, has led to a decrease in their economic activity and, as a consequence, to a reduction in the consumption of hydrocarbon resources. This has significantly affected the economy of Kazakhstan and, in particular, the oil industry. Such an unfavorable development of the country’s economy is aggravated by the instability of world prices for hydrocarbon resources. This process is influenced by both political factors and the steady increase in supply over demand that has developed in recent times on world markets. Under the influence of such unfavorable factors on the efficiency of the oil and gas industry, the main directions for increasing it are the reduction of production costs and the increase in the output of marketable products in hydrocarbon processing.

DIGITALIZATION OF KAZAKHSTAN'S ECONOMY

The article is devoted to the problems of adapting the company's strategic management tools to the rapidly changing external environment caused by the intensive development of the digital economy. This article discusses the main trends in the digital business environment at the macro and micro levels, issues of improving the efficiency of using the company's internal potential, and features of competition based on the active use of information and communication technologies. In today's global environment, digitalization plays a key role, and in some cases a defining role, in the industrial development of countries. In a number of countries, the government has focused on the development of logistics as the main factor for stimulating industrial development. Digitalization has an impact on all sectors and will lead to changes in the structure of the economy of Kazakhstan as a whole by diversifying and unlocking the potential of non-commodity industries, stimulating startup activity and opening industries. The degree of influence of digital technologies in different sectors is heterogeneous, the largest value creation potential is expected in the framework of traditional branches of economy, including the commodity sector, but also opens new opportunities of value creation in e-Commerce, the it sector and the financial industry.

Trends in the Development of the External Environment of Entrepreneurship in the Republic of Kazakhstan

This article is devoted to the impact of the external environment on the development of entrepreneurship in Kazakhstan. The aim of the study is to identify current trends in the external environment of indirect effects on entrepreneurship based on the quantitative and qualitative analysis. The authors analyze strengths and weaknesses of small and medium enterprises, contribution of this sector to the development of the economy of Kazakhstan. The paper reveals advantages and disadvantages of the state and integration subsystem of the external environment of entrepreneurship, providing financial and non-financial support measures that are factors of sustainable economic development of Kazakhstan. The authors use the data of the Committee on Statistics of the Ministry of National Economy of the Republic of Kazakhstan, annual reports of “Damu Entrepreneurship Development Fund” JSC. Methods of scientific knowledge, comparison, analysis, and systematic approach are applied as the main research methods. The main result of the study is formulating modern trends in the state and development of the external environment of entrepreneurship in Kazakhstan. Unfavorable trends identified by the authors will help substantiate the main directions of increasing the efficiency of small and medium enterprises. Based on the quantitative and qualitative analysis of the state and integrated subsystem of the external environment of entrepreneurship, the authors draw conclusions about its impact on the state and development of small and medium enterprises.

Resonance in the economy of Kazakhstan with the introduction of Islamic finance

The relevance of the article is caused by the changes occurring in Kazakhstan related to the strategicdirection of the country’s development in order to be included in the top 30 most developed countriesin the world. Therefore, in order to achieve this high goal, it is necessary to successfully implement the“Digital Kazakhstan” program, but one should not forget about the spiritual direction of development,therefore the “Rouhani Zhangyru” program is being introduced in the country. An important problem isthe fact that it is the modernization of society and the country in the main directions that will help ensurethe global sustainable competitiveness of the country in the global space. In this regard, the issuesof diversification of financing of the real sector of the economy were considered, where efforts shouldbe directed towards the growth and strengthening of the positions of the private sector and small andmedium-sized businesses. However, in the digitalization age, large investments are required for the developmentof IT technologies in various key sectors of the country’s economy. The purpose of this articleis to consider alternative sources of financing in the market that will contribute to the competitivenessand sustainability of a country in a global world where there are chain reactions during crises. The resultsof the research are presented in the work. The statistical data on the production volume of the real sectorfrom 2013–2017 were considered, and based on the results of the study, a model of the mechanismfor the implementation of an alternative financing method was proposed, i.e. Islamic finance, which isbased on spiritual moral and ethical principles. And the work presents key changes in the economy thatwill be caused by a wide active introduction of Islamic finance.

Contemporary Scales of the Shadow Economy in Kazakhstan

The issues of the general reasons for the existence of the shadow economy and the factors that determined its enormous scale in the contemporary realities of the economic system of Kazakhstan are the subject of consideration of many researchers. However, the authors try to evaluate the results of development programs and the activity of bodies contributing to the modernization of economic policy aimed at structural changes in the policy of counteracting the shadow economy, which have been previously considered ambiguously.
 The main attention of the authors is given to the study of the phenomenon of ‘shadow economy’ as a special segment of a market economy, as well as to the development of practical recommendations for minimizing the disruptive mechanism’s consequences of shadow activity in the post-socialist period. The impact of the shadow economy on the financial and economic development and security of Kazakhstan are comprehensively studied for understanding the scales of the phenomenon.
 The authors analyze anthropological factors associated with the contradictory nature of man, economic factors inherent in the market economy and distortions in the state tax policy, insufficient saturation of the market with goods and services, imbalance between various spheres and sectors of the national economy, and low purchasing power of the population. The focus is made on legal factors that have arisen due to the imperfection of the legislative framework and coordination mechanism for combating economic crime, the insufficient activity of law enforcement agencies in the sphere of suppression of illegal and criminal economic activity.
 The main reasons for the permanent strengthening of shadow activity in the modern economy of Kazakhstan are identified in their direct interrelation with the features of the national model of economic reform. These reasons include: the insecurity of small and medium private property rights from the arbitrariness of the state, the illegal nature of privatization, the dominance of monopolies in the economy and the repressive nature of taxation, etc. These factors have generated not only the traditional shadow activity in Kazakhstan, but the other forms have appeared: labor activity without official registration; manipulations with securities issued by ‘quasi-private’ structures; forceful elimination of competition by regulatory and law enforcement agencies in favor of certain companies and the export of capital from the country according to offshore schemes and technologies, etc.
 The results of the study on the degree of influence of the features of reforming the Kazakhstani economy on the development of shadow activity make a certain contribution to the study of the phenomenon of the shadow economy in Economic Science.
 The situation with the spread of the pandemic has once again demonstrated the scale of the shadow economy, the level of corruption of power structures and the steady growth of shadow capital in the country.

On the Development Perspectives of the Kazakhstan Agro-sector

The development of the economy in Kazakhstan is associated with the production level and economic growth in the agricultural sector. This attracts the attention of countries willing to invest in the agro-industrial sector of the republic. At the same time, it should be understood that much depends on the conditions that have been developed in the production and export of agricultural products and provisions. The development of the agrarian economy of the republic is greatly influenced by the development of this sphere in the nearest partner countries in political, economic and trade relations, such as Russia, Belarus and China. Within the initiative to revive the Silk Road, the Celestial Empire has a significant impact on the development prospects of Kazakhstan, including agrarian economy as well.

APPLICATION OF IOT AND BIG DATA TECHNOLOGIES TO INCREASE THE PRODUCTIVITY OF AGRICULTURAL FACILITIES (GREENHOUSES)

The agricultural sector is the basis of the economy of Kazakhstan. Global climate change and growing water scarcity require new and improved agricultural approaches. The main task in this area is the production of products of the highest level and quality. The article discusses the characteristics of an automated irrigation system (AIS), designed to improve the productivity of agricultural objects. Such systems are aimed at obtaining quality products, improving the ecology of production and reducing the amount of resources spent. An automated system of ventilation, watering and lighting of plants allows to effectively use time, water and light in the greenhouse. The use of information and communication technologies in an agricultural facility plays an important role in obtaining information about plants. Explanations of the hardware (microcontroller and other devices) and software (mobile application) parts used in the implementation of the system are shown.

Evaluating the transition to green economy in Kazakhstan: A synthetic control approach

Evaluating the transition to green economy in Kazakhstan: A synthetic control approach

FEATURES OF REGULATION OF STATE INNOVATION PROGRAMS AND ANALYSIS OF THE MAIN TRENDS AND INDICATORS OF DEVELOPMENT OF THE INNOVATION SYSTEM

To date, the main task of social, economic and political modernization of any state has been the issue of transition to a knowledge-based economy through innovative, industrial and scientific development. The article defines the goals and objectives of the national innovation system. The tasks of organizing measures to increase innovation activity are set. At the same time, the analysis of the role of the innovation Fund in industrial and innovative development, the study of innovation activities, as well as the disclosure of goals, tasks, functions and benefits for the economy of innovative development. Territorial features of the development of the innovation system analyzed the problems of implementing the policy of industrial and innovative development of the country and ways to solve them considered; proposals for improving the organization of innovative development, financing the production of innovations studied. The announced directions in the implementation of the innovation policy of the National innovation Fund, venture financing of innovative projects, the creation and development of venture infrastructure in Kazakhstan, the transfer of advanced foreign technologies, Support for projects with high risk. The main directions of innovation policy outlined. In the course of innovative development of Kazakhstan's economy reflects the actions for increase of competitiveness of national economy within industrial-innovation policy of the Republic of Kazakhstan.

The content and role of human capital in the modern economy of Kazakhstan

The content and role of human capital in the modern economy of Kazakhstan

ENERGY SECURITY AND SUSTAINABILITY IN EURASIAN ECONOMIC UNION IN THE TERMS OF ECONOMIC GROWTH: THE CASE OF KAZAKHSTAN’S ENERGY SECTOR UP TO 2040 PERSPECTIVES

The economy of Kazakhstan is the first economy in Central Asia and the second among Eurasian Economic Union (EAEU) countries after Russia. On rates of hydrocarbon raw materials extraction Kazakhstan is included into first ten countries of the world. Kazakhstani economy is based on heavy industry, ferrous and non-ferrous metals, and oil and gas. And it allows Kazakhstan is being on the road of economic growth. With economic growth, the energy production and consumption are also increasing rapidly, resulting first of all, on harmful carbon emissions. Thus, the purpose of this research is to carry out a comparative assessment in the energy sector development and to submit forecast of its demand and its environmental impact in terms of Kazakhstani economic growth up to 2040. First scenario (Base Case) assumes conventional development pattern together with neither significant changes in the patterns of energy supply and demand nor extensively changed policies and measures. The second one (Mitigation) assumes a technological improvement, regulation and industrial development policies and additional policies which have been designed to promote energy efficiency and reduce emissions across the economy. The simulations are applied until the year 2040, while 2015 is set as the base year. The findings suggest in both scenarios Kazakhstan will continue to pursue its economic development driving energy demand and carbon emissions will also raise. However, under Mitigation Scenario, emission intensity will be lower insignificantly.

ORGANIZATIONAL AND ECONOMIC MECHANISMS OF ENERGY CONSERVATION AND ENERGY EFFICIENCY MANAGEMENT IN KAZAKHSTAN

The article considers the problem of low energy efficiency of the Kazakhstan economy and identifies opportunities for its improvement. The energy intensity indicator and the GDP structure by industry are analyzed relatively to developed countries and countries with similar climatic and territorial conditions. The legislation of recent years in the field of energy sector was studied, as well as a number of programs and strategies for energy conservation. The main problem points in the field of energy conservation and energy audit procedure are clarified by the authors. The prevalence of regulatory methods over economic ones in energy efficiency management in the country is reveled. The possibilities of using stimulating organizational and economic mechanisms for the development of energy saving as opposed to regulatory measures are considered. The use of a number of financial mechanisms to finance the transition of enterprises of Kazakhstan to the cost-effective energy conservation mode is justified.

Realities and prospects of using green technologies in Kazakhstan

The particular relevance of the study of issues related to global crises is determined by the fact that although they affect the whole of humanity as a whole, the least economically and socially protected layers of the population in the whole world suffer from their consequences. That is why the key concepts of a green economy are natural capital and the ecosystem services it provides. The main priorities of the green economy concept are to increase the well-being of society with minimal impact on the environment. The article discusses the theoretical aspects of the implementation of the concept of “green” economy in Kazakhstan. The main directions of the “green” economy are highlighted and the results of the transition to a green economy are analyzed. The main stages of development of green economy in Kazakhstan are described. The problems of Kazakhstan’s transition to a “green” course of economic development are studied and the need for innovative approaches in the development of green technologies in the country is substantiated.

Transformational Change in the Economy of Kazakhstan

The article describes the transformation processes in the economy of Kazakhstan and the policy of new industrialization. The key factors impeding the growth of competitiveness of the economy in the medium term are identified. It is concluded that structural transformation of the country’s poorly diversified economy should be based on the accelerated development of the manufacturing industry, the increase in noncommodity exports and the attraction of foreign direct investment in noncommodity sectors.

Оценка инновационной восприимчивости хозяйствующих субъектов в экономике Казахстана

Оценка инновационной восприимчивости хозяйствующих субъектов в экономике Казахстана

Assessment of the influence of FDI on the economic growth of the host country: evidence from Kazakhstan

The article examines the impact of FDI inflows on the economic growth of the host country, using the Kazakhstan economy as an example. The authors attempted to assess the impact of FDI using a multiple regression model. As a measure of economic growth, Kazakhstan’s GDP data for the period 2000-2017 was used. The simulation results didn’t reveal the negative impact of FDI on economic growth, but the analysis revealed that the presence of a positive relationship is not essential for assessing the growth of the national economy.

Pedagogical communication as an acmeological problem

Currently, the writing team develops the research topic «Conceptual approaches to the creation of acmeologically oriented system of training and retraining of professional education». As noted by some researchers, the economy of Kazakhstan observed two processes with the ability to permanent development and improvement. We can talk about acmeologyzation of the personality of a professional and acmeological process of its preparation, which is possible only in the case of acmeologically-educated teacher of professional education and acmeologically-oriented system of training and retraining. There is no such a system today. Foregoing leads to: the need for scientific research of fundamental bases of creation of this system; a high degree of relevance to the problem of creating acmeologically -oriented system of preparation of teacher of professional education; high level of novelty of the study – expected results of the study justify new conceptual approaches to preparation of vocational teachers; study of the problems of pedagogic acmeology as a science of teacher achievement in mastership has been attracting the attention of scientists for a long time.

Financing the Development of Human Capital and the Efficiency of the Economy of Kazakhstan: Analysis of the Relationship

Financing the Development of Human Capital and the Efficiency of the Economy of Kazakhstan: Analysis of the Relationship