Preview

Economics: the strategy and practice

Advanced search
Vol 18, No 2 (2023)
View or download the full issue PDF (Russian)

DEMOGRAPHY, HUMAN RESOURCES AND THE LABOR MARKET 

7-22 538
Abstract

For the Kazakhstani labor market, as well as for all world countries, the issue of gender inequality is relevant. The purpose of this study is to analyze the current level of employment among men and women in the regions of the Republic of Kazakhstan. To achieve the goal of the study, the following tasks were set: to study the structure of employment in the regional aspect in terms of gender; to analyze the gap in the payment of average wages between men and women on the basis of the method of calculation proposed by the International Labor Organization; analyze the types of economic activity by the share of employed men and women and by the size of the average wage; consider the areas of economic activity with the highest wages. In the study and analysis of the factor of gender differences, a theoretical and empirical analysis was used. The analytical information from various sources of both local and international studies was studied. National statistics on demographics, socio-economic development and human development for the country as a whole, international and regional comparative statistics and indicators in the field of gender equality and women’s empowerment were studied. A conclusion is proposed about the existing dependence of the level of average wages of women and men on the type of economic employment in which they are involved. The results of this study will substantiate the current state of employment and wages among men and women in the Republic of Kazakhstan.

23-36 335
Abstract

Institutional and legal foundations are a key element in the system of state regulation of demographic processes in Kazakhstan. The purpose of the article is to identify the main factors influencing the process of natural reproduction of the population in our country and to assess the relevant institutional and legal framework. In the course of the study, the functional and structural methodology of the study of control systems was used, which is a set of methods that consider the objects of study as integral formations consisting of interconnected elements. Its tools make it possible to determine the structure and hierarchy of the institutional and legal foundations for regulating demographic and other processes, taking into account the forms of government and governance used. Then, on the basis of an institutional analysis of the content of regulatory legal documents, to assess their quality and the nature of the existing links between them, as well as to identify the problems that exist. The use of functional and structural methodology allowed us to establish that the process of natural reproduction of the population of Kazakhstan is mainly influenced by: a prosperous traditional family; an effective health care system; a sufficient level of wellbeing. As a result of the conducted research, the main trends and shortcomings of regulatory legal acts regulating the processes that affect the nature of the reproduction process of the population of our country were identified. Measures aimed at their elimination have been identified.

37-56 871
Abstract

The topic of the article is relevant due to the fact that the well-being of people and their physical and social health affect the level and quality of life of the population and the economic stability of society as a whole. The purpose of the research topic is to reflect the standard of living of the population in Kazakhstan and to reflect the main ways to solve problems. During the study, such methods were used as absolute and relative changes in indicators, a comparative analysis of indicators by region, a graphical method, deduction and induction, an economic and statistical method. Conclusions and recommendations based on the results of the research conducted by the authors are aimed at further development and improvement of the economic development of the country and regions in order to improve the standard of living of the population. According to the results of the conducted research, measures to improve the standard of living of the population are proposed, which include: increasing the income of the population as one of the main criteria; supporting and developing of the social sphere, reducing the level of poverty of the population; providing the population of countries with high-quality and affordable food and clothing, etc. The research topic is relevant and extensive, and therefore it seems impossible to reflect on the problems and ways of improving the standard of living of the population in one publication. In this regard, it is planned to further study and study the problems in various aspects. 

INNOVATION, INNOVATION AND TECHNOLOGICAL DEVELOPMENT, DIGITALIZATION 

57-73 387
Abstract

The purpose of this article is to explore the impact of digitalization in megacities on its socio-economic indicators using the example of Almaty city since it is one of the cities that meets the requirements of a megacity. Digitalization today is one of the factors in the development of both the economy and other areas. Digital transformation taking place in the world affects important industries and areas of all territories, but this is especially true for large cities. Since it ensures the vital activity of these cities, facilitating the life of the population and management processes. In this study, the index of digitalization of the metropolitan economy was calculated, which consists of three sub-indices. Further, a correlation-regression analysis was carried out between digitalization indicators and socio-economic indicators: average monthly salary, gross regional product (GRP), population and life expectancy. Four hypotheses were put forward, of which three were accepted, and one rejected. Economy digitalization has a significant impact on average monthly salary, GRP and population increase. Excel and SPSS programs were used for calculations. Data from the National Bureau of Statistics of the Republic of Kazakhstan from 2016 to 2021 was used. The results showed a positively strong and high correlation between digitalization and population size, average monthly salary and GRP. And a high negative correlation between life expectancy. The study’s results can be used in the development of megacities, where digitalization programs are being implemented to improve the results of the introduction of digital technologies in the socio-economic sphere.

74-93 361
Abstract

The article reveals the applied aspects of conducting a multivariate analysis, which makes it possible to identify the patterns of innovative development of raw materials (oil and gas) regions of Kazakhstan in conjunction with modernization transformations. A factor analysis of the initial signs of indicators for the period from 2008 to 2021 is carried out. All data were analyzed using IBM SPSS 23 software. The authors describe in detail the methodology of this study, providing the results of statistical analysis. As a result of the analysis, the factors are identified: «economic development of the region and agglomeration effects», «market potential and infrastructure», «structural factor of innovative development», «human factor of innovative development» and «investment factor of innovative development». It is concluded that the stimulation of innovation activity could be based on such measures of state policy as an increase in investment in fixed assets; growth of the gross regional product and the cost of product and process innovations; development of information and communication technologies in the regions; expanding lifelong learning programs; poverty reduction; an increase in the share of employees engaged in research and development; small business development; increasing investment in education and increasing the number of students in technical and STEM specialties. The results obtained also made it possible to conclude that the identified factors of innovative development of raw materials (oil and gas) regions of Kazakhstan are complete and that further research is needed in the context of studying the stated problem. 

94-106 361
Abstract

This article examines the relationship between innovation, education and economic growth in the Republic of Kazakhstan. Many empirical studies have proved a positive relationship between innovation and economic growth, that innovation has become a major component of global economic growth. Despite the acceleration of economic growth in various countries, including Kazakhstan, the relationship between economic growth and innovation in the country remains unclear. This study examined the impact of three factors: R&D, academic staff and innovation spending on economic growth in the Republic of Kazakhstan. The identified groups of indicators of economic development consist of sub-indicators. A regression analysis was done based on statistical data from 2009 to 2021. SPSS software was used for data processing. Three pairs of hypotheses were developed. The results of the first and third groups of hypotheses are similar only in those indicators that represent the total number of participants in innovative development, whose influence on economic development becomes strong. Thus, we can conclude that there is a strong relationship between GDP and indicators of educational and innovation factors. There is a relationship between the indicators of the academic staff in R&D and all enterprises that are involved in the process of development and implementation of innovations in Kazakhstan. The proposed hypotheses were accepted. Government agencies can use the results of this study in the development of innovation policy in the country.

107-122 307
Abstract

The article is devoted to studying the promotion of university educational services in the digital environment and developing recommendations for increasing the effectiveness of this area of their marketing activities. A review of the literature and the use of general and unique methods of scientific cognition made it possible to clarify the role of Internet tools in the communication patterns of a modern university and determine groups of external and internal target audiences. It has been established that the primary means of university digital media communication are the website and social networks. An analysis of the digital profiles of universities on websites made it possible to identify shortcomings related to both the content and the technical side: problems with updating and duplicating information, non-compliance with the sequence of stages of the sales funnel, restrictions on access to information, difficulty in navigation, and lack of mobile versions. Audit and content analysis of university social networks were conducted using quantitative and qualitative indicators. Quantitative analysis revealed the most significant demand for such platforms as Instagram and Facebook. The quality of using social networks as promotion tools is reduced due to the lack of corporate identity and poor consideration of the interests and needs of the target audience. The authors compiled SWOT-analysis of strengths and weaknesses, opportunities and threats of Internet resources of Kazakhstan universities and proposed stages, structure and content of the strategy for promoting university educational services in the digital environment.

SUSTAINABLE DEVELOPMENT AND ENVIRONMENTAL MANAGEMENT 

123-134 338
Abstract

Currently, the government of the Republic of Kazakhstan has made an important decision regarding constructing a nuclear power station in the country. In matters of nuclear policy implementation, the state often faces strong scepticism or distrust from the public. Therefore, it is necessary for the authorities to clarify to citizens the goals and importance of the initiative to build the plant and to understand public concerns and the acceptability of nuclear energy. This study examines public awareness and the transparency of government agencies in implementing state policy regarding constructing a nuclear power plant in the Republic of Kazakhstan. The aim of this research is to analyze the public recognition and readiness of the population to support the state’s energy policy, to analyze the population’s trust in government agencies implementing this policy, and the acceptability of building a nuclear power plant in the Republic of Kazakhstan. The study uses both quantitative and qualitative analysis methods, as well as surveys and SWOT analysis. In addition, the work presents informational materials from state institutions, news articles, and an analysis of international experience in the field of nuclear energy. The survey results showed that at the moment, the state needs to take measures to obtain broad public support for the development of nuclear energy, as the population has very different views on the benefits of operating a nuclear power plant. Additionally, the research identified gaps in informing the population about the country’s energy policy and low public trust in the authorities. Furthermore, a SWOT analysis revealed «weak» points and existing problems in implementing the energy policy. 

135-147 330
Abstract

The purpose of the study is to determine the prospects and difficulties of Kazakhstan’s energy transition, as well as to analyze the direction of development of the electric power sector to overcome the difficulties that have developed today. The global trends of transition to a carbon-free economy, the foundation for which was laid during the crisis of 2008, are currently being strengthened under the influence of two factors. Firstly, the fact of climate change as a result of anthropogenic impact is recognized by the world community. Secondly, the economic crisis caused by the COVID-19 pandemic has pushed many states, investors, as well as private companies to more actively implement decarbonization strategies. This is not only due to concern about increasing environmental problems. Decarbonization and energy transition can become an effective tool for stimulating economic development through the development of technology, attracting investment and creating new jobs. The analysis of the consequences of the considered trend for Kazakhstan is carried out. It is shown that the country’s strategic documents reflect a cautious approach based on plans to increase hydrocarbon exports. However, we believe that maintaining this approach is fraught with a number of economic and political risks. According to the results of the study, the importance of developing comprehensive strategic approaches aimed at leveling the identified risks is emphasized, and specific proposals for the implementation of a gradual energy transition in Kazakhstan are formulated. 

REGIONAL ECONOMY AND TERRITORIAL DEVELOPMENT 

148-159 386
Abstract

The purpose of the study is to determine the possibilities for diversifying the economy of the Ulytau region through the development of the tourism industry. Some regions of Kazakhstan are characterized by monoprofile regions, the problems of which are exacerbated during the crisis. A monoprofile characterizes the spatial organization of the economy of the Ulytau region as a consequence of the predominant orientation towards the development of non-ferrous metallurgy. As evidenced by the events of the world arena in recent years, excessive dependence on commodity markets in the long term, one way or another, creates a threat of inhibition and a deformation impact on the trajectory of the socio-economic development of the region. This condition determined the topic of this article and its theoretical and practical significance. The study uses a systematic approach. The methodological basis of the study is based on general scientific methods: analysis and synthesis of statistical data, logical method, method of comparative analysis, and methods for assessing the level of diversification of the regional economy. As a result of the study, a diagnosis of the state of diversification of the economy of the Ulytau region was carried out, and the tourism sector was defined as a direction for achieving the sustainability of the region’s economy due to the presence of rich tourism potential. Conclusions and suggestions based on the results of the study can be used in the development of regional programs and concepts for the development of the Ulytau region.

160-173 374
Abstract

This study examines the relationship between regional accessibility and economic potential in Kazakhstan based on empirical data processing. The study shows that transport infrastructure, measured by the length of roads and railways, is one of the decisive factors affecting regional accessibility. The structure of the study consists of four essential stages: data collection; identification of leading directions; correlation and regression analysis; substantiation of conclusions, and recommendations. The variables used in the comparative analysis are the operational length of railway lines, the length of public roads and the gross regional product. The correlation and regression analysis results revealed significant links between the length of railways and highways and the gross regional product (GRP) of the selected regions. The obtained models for South Kazakhstan, North Kazakhstan and Karaganda regions showed high positive relationships based on high values of R-squares. The study results showed that the variables included in these models strongly correlate with the overall regional changes in output and better explain their positive relationships. The study emphasizes the importance of taking into account regional differences in infrastructure development and economic indicators. As a result of the results obtained, conclusions should be drawn, and recommendations should be made policy makers can use that to promote balanced and inclusive regional development by reducing inequality.

174-186 385
Abstract

The purpose of this study is to determine the most important criteria for the selection of regional industrial projects. As part of the study, the authors conducted a review of modern literature on this topic and identified 19 criteria for the selection of regional industrial projects. To determine the most priority of these criteria, an expert survey was conducted using the ranking method. Entrepreneurs who have implemented several projects in the Zhambyl region, as well as employees of state bodies, representatives of the scientific sphere and employees of financial institutions were selected as experts. To summarize the data obtained as a result of the expert survey, descriptive statistics methods were used (indicators characterizing the degree of consistency of expert opinions, and coefficients of variation were calculated). According to the results of the study, the most important criteria for the selection of regional industrial projects were determined. After determining the criteria for the selection of regional industrial projects, an analysis was carried out on those projects that, a few years after the launch of the project, did not reach their design capacity. Analysis of the reasons for their stoppage or failure to reach the design capacity showed that the criteria identified by us as a result of this study are a priority. The results of this study may be of interest to both researchers and heads of regional government agencies when selecting projects for inclusion in the industrialization map of the region.

187-203 495
Abstract

The purpose of this study is to develop and test a methodology for comparative assessment of the economic potential of regions in the example of the regions of Kazakhstan. Based on the review of various approaches to the concept and structure of the economic potential (EP) of the region, the author’s approach to the definition, content and methodology of assessment is proposed in the article. The authors have processed statistical material for all regions of Kazakhstan for the period from 2000 to 2021 (according to some indicators, the analyzed periods vary). As a method of EP analysis, the authors propose to use a multidimensional comparative analysis, which allows for obtaining a comprehensive rating assessment of the region by the level of economic potential. The authors analyzed the economic potential of all regions of Kazakhstan on the basis of selected criteria of socio-economic indicators averaged over the studied period of time. The authors examined in detail the positions of the country’s regions on each component: investment, innovation, labor, industrial, social, and environmental potentials, as well as on the whole on the complex indicator of economic potential. According to the results of the rating assessment, Atyrau region, Almaty, and Astana, received the highest levels of economic potential, Mangistau and Almaty regions received low scores. The comparative analysis made it possible to identify the strengths and weaknesses of the regions of Kazakhstan to determine in which directions to develop and improve positions. The approach developed in the article to the comparative analysis of the economic potential of regions will allow classifying regions both by individual components of the EP and in general, to obtain a comprehensive assessment of the level of the EP. 

FINANCE AND MANAGEMENT ACCOUNTING, ACCOUNTING 

204-219 318
Abstract

While prior research on the Covid-19 effects on stock markets focused on developed countries, this study aims to examine the impact of Covid-19 on Iran’s emerging and developing market. The study sample comprised 245 companies listed on the Tehran Stock Exchange (TSE). This study uses panel-data regression models to evaluate the influence of the Covid-19 announcement on stock returns from February 12th to February 26th, 2020. The study results indicate that the announcement of the Coronavirus outbreak in Iran had not caused an abnormal return on the TSE. In examining the impact of this event on various industries, we have observed that other sectors did not show abnormal reactions through the news except for the three groups of banks, base metals, and pharmaceutical companies. Discussion and conclusion: the findings of this study suggest the poor market efficiency of TSE. Considering TSE is subject to macro-variables in the country, we have found that the metal industry in Iran converges with the global market of metals. Future research and implication: the investors should pay attention to international events affecting the metal industry, which brings new topics to focus on for future research. To investigate the long-term effect of this event on the capital market, future research is suggested to use models such as GARCH.

220-231 269
Abstract

The global concept of sustainable development of countries has predetermined the global trends of transition to carbon-free energy sources, among which renewable energy sources are the most promising. In this regard, the development of the theoretical foundations of the financial mechanism for the development of renewable energy is an urgent task of the financial policy and energy industry of the states. Due to the absence of limited literature data on the basic foundations of the financial mechanism for the development of renewable energy and its relationship with economic laws, the purpose of the study is the development of theoretical foundations of the financial mechanism for the development of renewable energy. To achieve this goal, data from scientific and educational literature of foreign authors and methods of dialectical logic and deduction were used. The article reviews, systematizes and analyzes the literature data on the relationship of the financial mechanism of economic processes with economic laws. The effect of objective economic laws of increasing needs, conformity of production relations to the level and character of development of productive forces, competition, value, supply and demand, and monetary circulation in the economic processes of the renewable energy sector has been determined. The obtained research results have theoretical value, as they were obtained for the first time and can be used for the development of renewable energy in transition economies countries, developed and developing countries, including Kazakhstan.



ISSN 1997-9967 (Print)
ISSN 2663-550X (Online)