The Impact of Oil Prices on the Macroeconomic Indicators of Kazakhstan and the Consequences for the Formation of Social Policy

Gulmira Moldabekova, Zhanarys Raimbekov, Arsen Tleppayev, Yuliya Tyurina, Raushan Yesbergen and Gulimai Amaniyazova
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Gulmira Moldabekova: Gumilyov Eurasian National University, Nur-Sultan, 010000, Kazakhstan
Zhanarys Raimbekov: Gumilyov Eurasian National University, Nur-Sultan, 010000, Kazakhstan
Arsen Tleppayev: Kazakh German University, Almaty, 050010, Kazakhstan,
Yuliya Tyurina: Financial University under the Government of the Russian Federation, Moscow, 49125993, Russian Federation,
Raushan Yesbergen: Academy of Public Administration under the President of the Republic of Kazakhstan, Aktobe, 020004, Kazakhstan,
Gulimai Amaniyazova: Yessenov University, Aktau, 130000, Kazakhstan.

International Journal of Energy Economics and Policy, 2022, vol. 12, issue 4, 447-454

Abstract: The article analyzes the impact of the dynamics of oil prices on the main macroeconomic indicators of the Kazakhstani economy and the consequences of the formation of national social policy. The article applies different hypotheses about the sensitivity of macroeconomic indicators of the economy of Kazakhstan to fluctuations of oil prices, and in addition, it specifies and evaluates a system of simultaneous equations that allows to test these hypotheses. Scenarios for the reaction of the Kazakhstani economy to exogenous shocks associated with a sharp change in the level of oil prices are considered, and some measures are proposed to reduce the negative consequences of fluctuations in oil prices for the Kazakhstani economy. Finally, the article discusses some of the results of understanding the challenges and realities in the field of social policy, which are generated by the model of economic growth.

Keywords: Crude Oil Prices; Stock Prices; Macroeconomics; Economic Development (search for similar items in EconPapers)
JEL-codes: A10 D04 Q40 Q47 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2022-04-48

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