SELECTION OF THE OPTIMAL WAY OF DEVELOPMENT FOR THE OIL DEPENDENT ECONOMY OF KAZAKHSTAN

Nurlan Aitkaliuly Nurseiit () and Ken Charman ()
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Nurlan Aitkaliuly Nurseiit: Kazakh-American University, Kazakhstan
Ken Charman: Kazakh British Technical University, Kazakhstan

Eurasian Journal of Economics and Finance, 2018, vol. 6, issue 1, 25-34

Abstract: The report describes the current problems in the country's economy, characteristic of Kazakhstan's economy. This is shown by the high dependence of the country's economy on natural resources and changes in prices for them. In the past, rapid development of natural resources, in particular hydrocarbons, allowed the country to maintain high growth rates. However, because of the expected low oil prices in the foreseeable future and the transition of hydrocarbon production to the stage of the plateau, this driver of growth has dried up. The article also discusses possible ways of finding new drivers of growth.

Keywords: Economic Growth; Oil Dependency; Kazakhstan; Hydrocarbons; Government Policy (search for similar items in EconPapers)
Date: 2018
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