Foreign Direct Investment and Economic Development: An International Perspective

Serikkyzy Aissara (), Bakirbekova Aigul, Baktymbet Saule, Yelshibayev Rakymzhan and Baktymbet Assem
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Serikkyzy Aissara: School of Entrepreneurship and Innovation, Almaty Management University, Almaty, Republic of Kazakhstan
Bakirbekova Aigul: Department of Economics, Kh. Dosmukhamedov Atyrau University, Atyrau, Republic of Kazakhstan
Baktymbet Saule: Department of Economics and Management, Kazakh University of Technology and Business, Astana, Republic of Kazakhstan
Yelshibayev Rakymzhan: School of Economics and Management, Narxoz University, Almaty, Republic of Kazakhstan
Baktymbet Assem: Department of Economics and Management, Kazakh University of Technology and Business, Astana, Republic of Kazakhstan

Economics, 2024, vol. 12, issue 2, 97-111

Abstract: The present study examines the patterns of foreign direct investment (FDI) in Kazakhstan and draws comparisons with global trends. Based on statistical data spanning from 2000 to 2022, the study reveals that the growth of FDI in Kazakhstan has exhibited greater volatility and speed compared to developed nations. However, it is strongly associated with global FDI inflows and the growth of gross domestic product (GDP). This article aims to examine the patterns and determinants influencing FDI in Kazakhstan and to juxtapose these patterns with global trends. The main approach used in the study was systematic. The article’s contribution lies in its provision of novel insights into the dynamics of FDI in Kazakhstan and its correlation with economic growth. Furthermore, the article elucidates the various factors that contribute to the expansion of FDI in Kazakhstan, while also offering suggestions for the development of public policy in this domain. The article provides a comprehensive examination of FDI patterns in Kazakhstan, comparing them to global trends and identifying the factors that influence the dynamics of FDI. Furthermore, the article offers suggestions for expanding the economic base of Kazakhstan beyond its reliance on the oil and gas industry, enhancing focus on high-tech and innovative sectors, and enhancing the institutional framework.

Keywords: diversification; public policy; entrepreneurship; finance; factors of production (search for similar items in EconPapers)
JEL-codes: F21 F43 O11 O57 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:econom:v:12:y:2024:i:2:p:97-111:n:1002

DOI: 10.2478/eoik-2024-0012

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