The work is aimed at studying the trends of innovative development of the economy of Kazakhstan. The analysis of peculiarities of development of innovations in the market, the evaluation of the modernization of the national economy, presented the economic and institutional mechanisms to improve innovative and technological development of Kazakhstan based on the possible strategy of innovation development, methods for its stimulation and improvement.

This article considers the state of the oil market of the United States and China, as dominant countries on which the development of the world as a whole depends, as well as countries that have been significantly affected by the transformational processes of the oil market. For example, the US shale revolution caused serious imbalances for the world oil market, which led to a sharp decline in oil prices, but made the United States one of the world’s leaders in oil production, and China the world leader in oil import. In this regard, the article analyses the world oil market, namely,the potential and prospects of the oil market of the United States and China, and their impact on the transformation of the world oil market. Given that the dynamic of the oil market is constantly changing, and prices per barrel of oil are constantly fluctuating, the change in the energy policy of the leading oil powers, can significantly affect further growth and development not only for developing oil markets such as Kazakhstan, but also for the global market as a whole.

This article provides a discussion on the issues of Islamic finance development in Kazakhstan - an area which has not been critically addressed in the literature. As Islamic Finance has not been developed correctly for last 10 years in the country, the authors set a goal to study the past overview of the Islamic finance for identification obstacles that should be overcome for further development. Based on the analysis of the previous experience of application of Islamic financial law and instruments developed and proposed recommendations for implementation to the Islamic finance industry of Kazakhstan. There has been used the methods of applied research, scientific abstraction, system approach. The inference of the study result based on analysis the strengths and opportunities, weaknesses and threats of Islamic finance in order to minimize weaknesses and threats for the country economy and financial system. The results of the study can be used for the successful spread of Islamic Finance in Kazakhstan and for overcoming challenges. Furthermore, the results and the recommendations of the study can be applied by legislative and Executive authority for coordination strategic development program of Islamic Finance in Kazakhstan. Furthermore, developed recommendations during the study can be implemented in upgrade of Islamic finance low or could take a place in creation separate special low in field of Islamic finance in the country. The conclusion of the research illustrated that the problem of insufficient growth of Islamic finance is a more conservative system of Islamic finance, which was chosen in the country and there are number of restrictive barriers, prudential as well as social nature.

The study aims to decompose and model economic growth of Kazakhstan by production factors in order to justify the priorities of long-term economic policy. The latest researches made by the experts of international institutions draw the attention to high correlation between the dynamics of real GDP and total factor productivity (TFP) (WB and others). It is assumed that the contribution of the factor capital (investment) will not make a significant additional contribution to the further economic growth of Kazakhstan, which is associated with a decrease in the marginal return on capital. For a more in-depth study of this problem a review of modern theories and methodologies for calculating the contribution of production factors to economic growth was carried out. Research methods. The use of modern methodological approaches allowed to decompose Kazakhstan’s economic growth and to model the contribution of production factors and aggregate factor productivity to Kazakhstan’s economic growth. Several methods were used to assess the contribution of factors of production to the growth of Kazakhstan’s GDP: an analytical and production method, including taking into account the contribution of the factor “natural resources”. The analytical method is based on the structural model of GDP in the form of the sum of consumption of fixed capital and the number of employees. The production method is based on the Cobb-Douglas two-factor production function using the contribution of capital, labor and total factor productivity (TFP), which reflects all other implicit factors related to the conversion of capital and labor costs into manufactured products, such as technology, human capital and organizational and legal institutions. Results and conclusions of the study. The obtained results allow to develop adequate measures of macroeconomic and structural policies in order to improve the effectiveness of the fundamental factors of economic growth (labor, capital and natural resources) in the long term ensuring sustainable competitiveness of the economy of Kazakhstan.

The purpose of this study to determine the degree of influence of various economic indicators of the competitiveness of the pharmaceutical industry of Kazakhstan and define the growth factors in the conditions of the Common Market of the drug. The work revealed the factors affecting the production of the main pharmaceutical products of the Republic of Kazakhstan, from the very formation of the country’s independence. That is, the indicators for 1990-2018 are analyzed. The study was conducted using the methods of economic and mathematical modeling, statistical and comparative analysis. A detailed analysis of the development of the pharmaceutical industry was carried out, as well as the degree of influence of factors such as: GDP of the Republic of Kazakhstan, per capita GDP, population, wage, average monthly nominal wage of one employee, investment in fixed assets, investment in fixed assets, farm, was estimated. industries, commodity turnover in foreign currency (export), commodity circulation in foreign currency (import), industry in general, manufacturing industry in general, indices of industrial production pharm. industry and the number of operating enterprises and pharmaceutical production. products. The results of the study allow us to conclude which of these factors significantly strengthens the competitive position of the domestic pharmaceutical industry. These results are very important in making decisions and developing the pharmaceutical industry of Kazakhstan in the context of creating a Common Market of the drug within the EAEU.

The aim of the study was to analyze the intermediate results of the implementation of the State program of industrial and innovative development of the Republic of Kazakhstan, developed for the period 2015-2019. The research methodology consisted in the analysis of statistical information from open sources, factor and comparative analysis of data, on the basis of which the results of the program for the period 2015-2018 were shown. Based on the study, conclusions and recommendations were presented, including the following. Certain progress was noted in the development of the industry and the introduction of innovations, including in matters of informatization and digitalization in Kazakhstan. The country’s industrial development indicators over the past 5 years show positive dynamics in almost all regions and large cities, although there are flaws in the implementation of the program to increase the export potential of the country’s industrial enterprises, resulting in a decrease in exports. Unresolved issues are the development of manufacturing in the regions of the country, including uneven indicators in terms of investment in fixed assets in manufacturing in certain regions of the country. As a recommendation, enterprises should continue to adhere to the line for the development of the manufacturing industry and the move away from the raw material orientation in the economy. It should also be emphasized that innovative development involves not only the use of information technology, but also the introduction of innovations in organization and management, in methods of industrial and agricultural production.

The purpose of the study. The engineering industry of Kazakhstan is very complex and according to the SPIID Program [1] includes sectors such as automotive, oil and gas engineering, agricultural engineering, mining engineering, electrical engineering, within which state support is provided to these industries. Despite some positive dynamics in the development of the domestic engineering industry, unfortunately, there are still many problematic sides. The engineering industry is one of those industries that are experiencing a shortage of qualified personnel, the cause of which is the inconsistency of the curriculum with the production requirements, low status of specialties, low wages. If we talk about the automotive industry, and specifically about its production, then, unfortunately, today there is only a small node assembly of cars. To this end, based on a study of the global engineering market using the examples of countries such as the USA, the EU, and China, it seems appropriate to analyze the development of the engineering industry in Kazakhstan and develop recommendations for improving the competitiveness of the domestic engineering market. Research methods. The study used methods of observation, comparison, measurement, analysis, and deduction. Results and conclusions of the study. The main reasons for the non-profitability of domestic engineering products in comparison with foreign counterparts are its higher cost and low quality associated with the use of outdated production technologies in most enterprises of the republic, an excessively high share of imported components, materials, energy, etc. In addition, most of the products of domestic factories are outdated morally and are far inferior to their foreign counterparts in terms of technical and operational indicators.

The article examines the problems of food security as a component of the state’s economic security in the context of the globalization of the world economy. Proved the need for the formation and development of the system of import substitution of food products in Kazakhstan, which is objectively determined and is the most important factor in achieving food security. Only then the rational use of the enormous agricultural potential can remove almost all the issues of reliable provision of domestic food that will allow the country to occupy a worthy place in the global food and food market.

The aim of the study is to research current advances in improving the management of oil and gas enterprises in Kazakhstan on the basis of innovative approaches. To this end, a number of interrelated tasks have been proposed: increasing efficiency in the management of service, production, financial, social and environmental services. The following scientific research methods were used in the work: comparative analysis, system-functional, process, motivational and situational approaches to innovative management of oil and gas enterprises. The results of the research study are the provisions on problems in the efficiency of management of the oil and gas industry. The contradictions between large financial investments in the research sector of this industry and poor efficiency in the implementation of rationalization, inventive and innovative approaches to management are shown. The problems in the implementation of the vertical integration model in industry management, poor competitiveness of industry management in comparison with modern innovative foreign approaches in managing this sector of the economy. The article analyzes the theoretical and methodological approaches available in the scientific literature to the formation of an innovative economy, considers the role of using advanced processes at the present stage of economic development of society in order to achieve sustainable development; A comparative analysis of the innovation activity of Kazakhstani enterprises with the state in developed countries was conducted and a conclusion was drawn on the need to search and find innovative strategies in the management of oil and gas companies. Based on the study, the article concluded that it is necessary to use new technologies for the extraction and processing of promising oil and gas fields. In addition, it substantiates the conclusion that it is advisable to develop and modernize oil pipeline systems and the entire transport and logistics infrastructure of the republic’s oil and gas industry.