New Approaches to the Construction of a Diversified Economy: the Experience of Kazakhstan

G. M. Aubakirova () and F. M. Isatayeva
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G. M. Aubakirova: Karaganda Technical University
F. M. Isatayeva: Karaganda Technical University

Studies on Russian Economic Development, 2021, vol. 32, issue 6, 712-718

Abstract: Abstract— The article discusses approaches to the formation of a new model of economic growth in Kazakhstan – an export-oriented economy with high added value. It is shown that the slowdown in transformation processes in industry is largely due to the inertia of structural export changes. The key factors that hinder the advancement of industrial enterprises to world markets are identified. The medium-term prospects for economic diversification are analyzed with an emphasis on the growth of its self-sufficiency and competitiveness of the nonresource sector. New measures of state regulation industrial and innovative activities of manufacturing enterprises in 2021–2025 are discussed, taking into account OECD standards and best overseas experience. The research results can be useful to countries with economies in transition.

Keywords: Kazakhstan; government regulation; diversification; manufacturing industry; business; nonresource sector (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1134/S1075700721060034

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