Preview

Economics: the strategy and practice

Advanced search
Vol 18, No 3 (2023)
View or download the full issue PDF (Russian)

ECONOMY, ECONOMIC THEORY AND ECONOMIC GROWTH 

7-24 404
Abstract

The article deals with the problems of increasing the efficiency of enterprises of the agro-industrial complex, the feasibility and possibility of using the outsourcing model in the business organization, the advantages of increasing labor efficiency and forms of management using an outsourcing system for agro-industrial structures are studied. In the post-crisis period, the negative results and principles of agribusiness organization were considered as a new direction for ensuring the sustainable development of agriculture by revising the outsourcing service. At the same time, the problem of increasing the efficiency of the economy of the agro-industrial complex of Kazakhstan was formulated, and much attention was paid to the study of the regional direction and the introduction of outsourcing processes. The aim of the study is to analyze the organizational and economic essence of outsourcing and increase the efficiency of agricultural enterprises using this tool in rural business. When studying outsourcing relations in agricultural enterprises, such methods of research methodology as systemic and situational analysis were applied when introducing outsourcing the theory of the synergetic concept, comparative analysis and synthesis, methods of institutional economic analysis and generalization. The results of the study on the development of outsourcing activities are aimed at the use by small and medium-sized agricultural enterprises, market organizations in business restructuring, as well as management bodies of associations, unions, and support centers interested in providing real assistance to rural entrepreneurs.

25-39 538
Abstract

Human capital occupies a leading position in economic development and determines the importance of education as a system responsible for its production. Attention has increasingly been paid in recent years to the role of education in the economic growth of countries. Researchers began to study the impact of education on economic growth in the 19th century and continue to this day. Hence, the growth in the number of publications and scientific studies studying the importance of education in economic growth actualizes the need to use bibliometric analysis methods to identify patterns and trends studied by scientists from various countries around the world. The article examines the works of economists who formulated theories emphasizing the importance of education for economic development. This study reviews scientific works to determine the underlying concepts in the field of the role of education in economic growth. The purpose of this research is to analyze the structure and dynamics of academic research aimed at studying the role of education in economic growth. A bibliometric analysis of the literature was carried out using the VOSviewer software. The sample consists of 2,432 publications from the WoS database. A result of the analysis is a compiled bibliometric map of five clusters. The research outcomes apply to both local higher education establishments and governmental bodies responsible for state educational oversight.

40-55 316
Abstract

This article gives an overview of the economics disciplines publications in Kazakhstan indexed in the Scopus database in the period from 1997 to 2022. The literature provides an outlook on scientometrics research that can be used for the analysis of specific research fields. Scientometrics methods used in this article identify the state of the research in economics disciplines in Kazakhstan, explicitly focusing on descriptive analysis such as distribution by number of articles, number of journals, number of authors per article, number of citations, number of citations per article and distribution of articles across journals. By using the network analysis and VosViewer software, links and connections within economics discipline publications were identified. Descriptive results of the study identify that across all economics disciplines “Economics, Econometrics, and Finance” has the largest number of publications. In contrast “Business, Management, and Accounting” has the most significant number of authors. The network analysis demonstrated weaker links in “Decision sciences” while in “Economics, Econometrics, and Finance” and “Business, Management, and Accounting” the relationship is closer and more interconnected in the subject areas. The analysis of scientific journals identified the quality of publications and type of journals where papers are published as well as the highest cited papers in the economic disciplines affiliated with Kazakhstan. Conclusions and recommendations suggest that internal processes and scientific infrastructure at universities aimed to improve the quality of publications will increase the interest in research published in Kazakhstan in the global scientific community and have practical implications for the economy.

SUSTAINABLE DEVELOPMENT AND ENVIRONMENTAL MANAGEMENT 

56-67 304
Abstract

The purpose of this study is to analyze the state of organic crop production in Kazakhstan. In the research work, the factors affecting oilseeds of Kazakhstan were studied. The current research work is aimed at analyzing the general dynamics of organic agriculture in the republic of Kazakhstan. The period under review covered seventeen years from 2004 to 2021. To analyze the data, the r program was used and a correlation – regression analysis was carried out. The results of the study, the results of the forecast of harvesting oil-seeds for 2023-2026 for 4 years were presented. The results of the study show that the volume of organic crop production in Kazakhstan has a significant impact on the volume of gross output and arable land. Organic agriculture is the main goal of producing environmentally friendly products. The results of the study can be used at the state or local level to develop programs and strategies on the importance of ensuring the sustainable development of organic crop production in the regions of Kazakhstan, ensuring the safety of domestic oilseeds, sustainable development of the oilseeds market.

68-83 265
Abstract

R&D is seen as crucial to achieving sustainable development, as it promotes innovation and drives economic growth. The aim of this work is to identify primary indicators of research and development and conduct an analysis of the research and development situation in Kazakhstan. The methodology consists of a systematic literature review (13 articles) and statistical analysis of research and innovation development in Kazakhstan for the period between 2014 and 2020 and included indicators of R&D development in Kazakhstan: R&D Costs Total/ Internal/ External and Sources of funding. Results show that research and development investments have a positive impact on productivity, innovation, and economic growth. The results showed that the highest level of internal costs for innovative research and development is formed in the cities of Almaty and Astana and in the Mangystau region. However, the level of internal research costs in Almaty c. decreased by 22% in 2018. Positive dynamics were in Astana, East Kazakhstan, Atyrau, Mangystau, Pavlodar and Zhambyl regions. There was also observed a clear upward trend in the own funds of enterprises allocated to finance these costs. The findings suggest that policymakers should prioritize supporting research and development and innovation investments in both the public and private sectors. Analysis of research and development expenses shows that internal costs are the most crucial, as they reflect the innovation demand and potential of enterprises. Further analysis is necessary to examine the distribution of internal costs based on the types of activities carried out by companies.

DEMOGRAPHY, HUMAN RESOURCES AND THE LABOR MARKET 

84-97 290
Abstract

Talent management is important for organizations, first of all, to gain a competitive advantage. The

high demand for talent imposes special requirements on employers at the global and state levels. The identification of factors contributing to the retention of talents within the management process, and testing of the formed model, was designated as the main purpose of the article. The study identified independent variables, such as job satisfaction and engagement to work, and examined how they contribute to the dependent variable, i.e. talent retention. Smart PLS4 and IBM SPSS programs for statistical data processing were used to assess the quality of the model and conduct multi-regression analysis. During the analysis, the task was set to take into account the aspect of differences and gender diversity between age generations, which can influence variables. To perform this task, a significance test was conducted, that is, Anova and Manova analysis of variance. As a result of an online survey of 126 respondents, primary data were obtained. Based on the confirmation and non-confirmation of hypotheses, a number of conclusions have been made. Factors such as engagement and job satisfaction showed a high level of influence on the retention of the necessary personnel in the workplace (70.7%). In order to minimize the shortage and turnover of labor in the labor market, it is necessary to pay attention to an inclusive approach, as it helps to prevent the outflow of talent.

98-109 370
Abstract

The problem of corruption in state bodies remains one of the main ones regarding qualitative economic development. The reason for this is the significant negative impact of this phenomenon on the standard of living of citizens and the efficiency of the functioning of state bodies. However, the strength of such interaction may differ depending on the country and how conscientiously the employees of its state apparatus carry out their work. Thus, it is relevant to analyze the impact of corruption on the standard of living of citizens, which in the framework of this study is defined as an index of human development. Many scientific methods were used during the work: analysis, deduction, and abstraction. As part of the study, the negative impact of corruption on some important social spheres, such as healthcare, education, and others, as well as on the income level of citizens and the development of the shadow economy, was analyzed. The impact of corruption on the indicators of the human development index and its individual components was assessed. Subsequently, it was shown that there is indeed a certain interaction between these variables, which once again speaks of the role of the fight against corruption in the country. Also, having assessed the state of combating the unfair behavior of civil servants in Kazakhstan, recommendations were prepared to counter this phenomenon. This work brings new knowledge in terms of assessing the impact of corruption on the development of the country and its citizens.

110-124 431
Abstract

Motivation plays a critical role in project management as it affects team performance, project success, and organizational outcomes. The purpose of the review: to study the impact of motivation on the effectiveness of the project, to determine the main factors influencing the motivation in project management and the types of motivation of the project team, as well as methods for managing motivation in project activities. The review covered 44 articles published between January 2019 and February 2023 in the Scopus database, Web of Science and Google Scholar. Articles were selected based on their relevance to the topic and analyzed through a predetermined set of criteria. The results obtained show that project management motivation is a complex and multifaceted process that includes various levels of analysis, including individual, team and organizational factors. Project managers should focus on creating a motivating environment for team members to increase project success. Moreover, intrinsic motivation is a better predictor of task performance than extrinsic motivation. The conducted systematic review contributes to the understanding of motivation in project management and provides a basis for further research on this topic. The results of this review have important implications for project managers, who can use this knowledge to motivate team members and improve project success. Moreover, more research is needed on the motivation behind traditional and agile project teams.

125-139 411
Abstract

Gender inequality in education is a problem in both developed and developing countries. This social phenomenon has many negative consequences (income inequality, decline in human capital, reduction in economic growth, etc.). The purpose of this study is to identify the gender inequality in education through the analysis of gender gaps in access to education in Kazakhstan. The study was conducted within the concept of liberal feminism to assess the participation of women in education. Issues of gender inequality in education were studied through the gender parity index, with a focus on the analysis of the enrollment of women and men in education and their satisfaction with the availability of educational services. The main research methods were economic and statistical analysis and comparison. The source base for the study was statistical data from the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan for the period from 2000 to 2022. The limitation of the study was the lack of data for a certain period or by level of education. The study revealed that in Kazakhstan there is a gender inequality in the field of postgraduate education, where the number of students is dominated by women. During the period under review, gender inequality decreased at the master’s level and increased at the doctoral level. At the same time, during the pandemic, gender inequality in education at the master’s level increased, while at the doctoral level it decreased. The main reason for the emergence of gender inequality in the field of postgraduate education is the low attractiveness of employment in the field of education and science on the part of men due to the low level of income in this area. The results obtained indicate the need to increase the prestige of teaching and research activities among the population, including by raising wages and providing decent social security for specialists in this field.

MACROECONOMICS, WORLD ECONOMY 

140-156 296
Abstract

The purpose of this article is to explore the cross-border processes of neighbouring countries based on the interaction and mutual influence of the economies of Kazakhstan and Uzbekistan and to identify new opportunities in the development of border areas. Scientific research has been studied and a review of literary sources reflecting not only the processes of interaction between Kazakhstan and Uzbekistan in the field of economics, politics, economic security, education and the formation of infrastructure projects has been conducted. Research and compare the economic development of the two countries, show the economic and resource potential and give a comparative description of the development of border areas. The research methodology was aimed at a comprehensive analysis of cooperation priorities based on a survey of the main documents on cross-border cooperation of international organizations, including a database on measuring and monitoring the effectiveness of corridors; conducting a comprehensive statistical analysis of data from the Bureau of Statistics of the Agency for Strategic Planning and Economic Reform of the Republic of Kazakhstan, international rating agencies; assessing the distribution of regions of Kazakhstan in terms of per capita GRP; development and calculation of the coefficient of uneven economic development of the regions of Kazakhstan; conducting a rating of regions of Uzbekistan in terms of GRP per capita

157-173 303
Abstract

The agricultural sector of the country’s economy is one of the key areas of economic growth, an element of expanding export potential, which ensures the food and social security of Kazakhstan. Assessment of the probability and degree of threats in the organization of agricultural exports is an important area of research. The research is based on the following scientific methods: generalization, analysis, synthesis, statistical methods, graphical visualization, expert evaluation method. The analysis was based on statistical data from 2019 to 2021. This time interval covers the period before and after the COVID-19 pandemic in the field of agricultural exports. The purpose of the study is to summarize the most important criteria for assessing the likelihood and degree of threats in the organization of agricultural exports. The work highlights the significant stages and procedures of the export organization, and threat assessment indicators are summarized on the basis of expert assessment. The developed and proposed measurable values of indicators will allow the company to assess, monitor the probability and degree of occurrence of threats at the stages of the export process. The application of the assessment methodology will allow exporters and government agencies to rationally organize the infrastructure for exporting agricultural producers’ products.

REGIONAL ECONOMY AND TERRITORIAL DEVELOPMENT 

174-188 302
Abstract

Migration, which is a consequence of the uneven socio-economic development, poverty, and environmental problems of various regions, on the one hand, has significant potential and can help improve economic and social conditions, and on the other hand, it becomes a generator of socioeconomic and other risks, influencing the strengthening inequalities. The purpose of the article is to identify the main forms of socio-economic risks of internal migration of the population of Kazakhstan and assess their impact on the socio-territorial stability of the regional society. To assess the socioeconomic factors affecting the dynamics of internal migration population flows, a systematic approach was applied, and methods of component analysis of the regional standard of living, sampling and grouping of quantitative and qualitative indicators were used. The main directions of the impact of socio-economic risks of migration on the socio-territorial mobility of the population are substantiated. The main forms of socio-economic risks of internal migration of the Kazakhstan population are determined. It is substantiated that the closest relationship exists between the level and quality of life systems and the increase in migration flows. The study concluded that migration is a complex process, which is influenced by the changing socio-economic conditions for the economy and society development and affects the standard of living and lifestyle of the population. This necessitates not only the regulation of migration processes in the country but also the development of mechanisms to reduce the socio-economic risks of migration and their impact on life support systems and livelihoods.

189-206 363
Abstract

The purpose of this work is to study the impact of demographic and socio-economic factors affecting the level of poverty in the regions of Kazakhstan. The research examined the regions of Atyrau, Turkestan, Mangystau, and Akmola regions, where the poverty rate is higher than the average for Kazakhstan. The main factors influencing poverty are divided into four groups: economic, demographic, social and geographical. The current study focuses on the analysis of the general dynamics of poverty in the Republic of Kazakhstan. Accordingly, the study aims to examine the impact of three factors (economic, demographic and social) on absolute poverty. The period under review included ten years, 2011-2021. Five hypotheses were put forward. The SPSS program was used for data analysis, and a correlation-regression analysis was carried out. The results of the study showed that average monthly salary, gross regional product, living wage, number of students at higher educational institutions, number of people who receive state pension payments, number of people who receive assigned state social payments have a significant influence on the poverty rate in Turkestan region. Poverty eradication is one of the biggest and most important tasks of society. This is the main mission of the World Bank and the primary goal in the field of sustainable development, which reflects the agreement of 193 countries on key socio-economic priorities. The results of the study can be used both at the state and local levels to develop programs and strategies to combat poverty in the regions of Kazakhstan.

207-225 254
Abstract

Civil participation of the population in Kazakhstan is considered one of the most important factors in the development of local government system, while the actual level of participation remains at a low level. The forms of manifestation of civil and social participation of the population in the realization of citizens’ rights to governance are limited, and social passivity is a characteristic feature for residents of local regions. The relevance of the research work is determined by the need to activate the civil participation of the population in the activities of Local Self-Government Bodies in Turkestan as a typical representative of a small urban district. The primary purpose of the research work is to find and substantiate ways to activate the civil participation of the population in the activities of Local Self-Government Bodies in Turkestan. Research methods such as Descriptive analytics (Nearest Neighbor Analysis), Diagnostic analytics (Pearson’s R - Spearman Correlation) and Predictive analytics (Neural Networks - Multilayer Perceptron) were used. Statistical and Analytical research was carried out using SPSS and R statistics software. A sociological survey was conducted among residents of Turkestan, and other materials were collected from such sources as the results of structural appeals of citizens to the administration of Turkestan and the results of the activities of the administration of Turkestan in the field of working with citizens’ appeals. As a result, the main causes of problems of civil activity of the population in Turkestan were identified and the “Solution Tree” method was used to solve the main problems in this region.

226-240 295
Abstract

The purpose is to study the mechanisms of improving the managerial efficiency of rural akims in Kazakhstan in the example of the Aktobe region. The ongoing reforms on the introduction of the institute of elections of rural akims, the decentralization of powers and the expansion of the competence of rural akims, and the introduction of independent rural budgets will strengthen the lower level of the executive branch of government. The effectiveness of the activity of akims is determined by the characteristics of the success of the professional activity of civil servants in terms of the degree of achievement of the planned result and the desired social effect, as well as the ratio of the results achieved with the resources spent on its implementation. The methods of observation, surveys, focus groups, analysis, systematization and generalization were used. In determining the effectiveness of the activities of akims by teaching methods - facilitation and brainstorming, a number of problems and ways to solve them have been identified. Materials on akims in the Department of Economy and Budget Planning and the Department of the Agency of Kazakhstan for Civil Service Affairs were also received. As the results of the study, the problematic issues identified during the training courses, seminars of rural akims of the Aktobe regional branch, and solutions identified by various active teaching methods are presented. Рossible solutions to the problematic issues identified during the survey and training are proposed. Research will be reflected in the scientific works of the doctoral student.

FINANCE AND MANAGEMENT ACCOUNTING, ACCOUNTING 

241-250 338
Abstract

This article reveals the impact of financial technologies on the development of the banking sector. The purpose of the study is to identify key financial technologies in the banking sector, as well as the causes and prerequisites for the development of financial technologies in the banking sector of Kazakhstan. For this purpose, the essence of the concept of financial technologies and the definition of this term are considered. In the course of the study, a comprehensive analysis was carried out, which provides both quantitative and qualitative characteristics of the development of digital technologies and their impact on the development of the banking sector. The tasks set in the article were solved by analyzing the structure and dynamics, and methods of financial analysis. In the course of the study, a point-index method was used. To assess the penetration of digital technologies into banking, data from Kaspi.kz from 2021 to 2022 was used. A panel approach was also used, which allowed for analyzing data on various banks. As a result of our research, a conclusion has been made on the areas of banking activity that can first of all be replaced by fintech startups. These are consumer finance, microloans, and payment services. It is determined that a number of commercial banks can be transformed into fintech companies. We declare that no matter what institutional forms the development of new financial technologies takes, it is inevitable in any case, and the relatively near future will already show their content and configuration.

251-267 314
Abstract

The strengthening of the role of fiscal policy in Kazakhstan in recent years has updated studies of the impact of its instruments on the economy. In this regard, the assessment of the fiscal multiplier is an important research task that has practical significance for increasing the effect of fiscal policy. The purpose of this article is to estimate the fiscal multiplier in Kazakhstan. The quarterly data for the period from 2000 to 2022 from the official statistical sources of information were used. For the specified time period, the authors made two distinct estimates of the fiscal multiplier of Kazakhstan’s public expenditures: with and without considering economic cycles. The comparison of the simulation results allowed the authors to note the shortcomings of the fiscal multiplier estimation without considering economic cycles. In the cycle-ignoring model, the lag of government spending shock was overestimated. Moreover, the fiscal multiplier without cycles turned out to be significant at the 10% significance level and amounted to only 0.2. The fiscal multiplier in the model with cycles during the recession period turned out to be significant at the 1% significance level and amounted to 0.44, and during the expansion period,, it turned out to be insignificant for any lag. Based on these results, the authors conclude that the theoretical importance of fiscal measures in a recession is confirmed for Kazakhstan. However, during a period of economic growth above the potential level, an additional positive shock of government spending will not lead to positive effects on the economic growth.

268-283 252
Abstract

The article explores data mining methods that allow us to get helpful information from the data. The possibility of using these methods in practice in the financial sector was considered. Since financial activity is closely related to our social life, the use of data mining methods plays an essential role in the analysis and forecasting of the financial market in the modern era of big data. However, due to differences in the experience of researchers in different disciplines, it is not easy to use data mining methods when analyzing financial data. Therefore, creating a methodological basis for the practical application of data mining methods in the analysis of financial data is an urgent issue. The purpose of this article is to create a methodological basis for using data mining methods for efficient trading. When processing product data, a priori methods and visualization methods were used, and their implementation in practice was described. As a result, scenarios of computer applications were created as a sample of the practical implementation of the algorithms of these methods. Building a quantitative trading strategy requires first statistical analysis of the information in the market and then testing the quantitative model on the collected data. This study developed a quantitative trading system based on data mining methods. The primary development tool used is the Jupyter web platform, and three cores have been developed: quantitative data selection, strategy testing on data, time series analysis, and visualization. The developed system supports modules for making simple trading decisions.



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