This study evaluates the key drivers of green logistics performance and their impact on economic growth in African countries. The study employs a quantitative approach using panel data analysis for African countries from 2007 to 2022. Impulse Response Function and Variance Decomposition methods are utilized to examine the dynamic relationships among variables, including economic growth, Logistics Performance Indicators (LPI), fossil fuel consumption, and greenhouse gas emissions. The findings reveal significant positive relationships between green logistics performance indicators, such as the ability to track and trace consignments, logistics service quality, and trade infrastructure, with economic growth. Conversely, fossil fuel consumption and greenhouse gas emissions exhibit negative associations with economic growth and environmental sustainability. The results underscore the importance of embracing green logistics practices and sustainable development strategies in African economies. By improving logistics infrastructure, enhancing service quality, and reducing environmental impacts, countries can foster economic growth while mitigating adverse effects on the environment. Future research could explore region-specific factors influencing green logistics adoption and examine the role of policies and regulations in promoting sustainable practices. The findings have implications for policymakers, industry stakeholders, and regulatory bodies in developing targeted strategies to align economic progress with environmental responsibility in African nations.

The transformation of the economy towards sustainable development based on ESG principles is one of the most pressing tasks. This article aims to study the current state of implementation of ESG principles in the context of sustainable development in Kazakhstan and identify critical factors influencing these processes. Special attention is given to the environmental component of ESG development, considering its importance in light of global demographic and technological changes. During the research, general scientific methods of cognition (analysis, synthesis, analogy, generalization, classification), as well as methods of quantitative and qualitative analysis, were applied, allowing for the identification and systematization of critical achievements in implementing ecological aspects of the sustainable development strategy in the republic. The article provides an assessment of Kazakhstan's involvement in adapting the best international practices in the ESG sphere, specifically in the activities of companies. Trends in the change of Kazakhstan's global rankings were analyzed using the Climate Change Performance Index (CCPI) and Sustainable Development Index (SDI). According to the assessments of international experts, a conclusion was drawn about the worsening of Kazakhstan's position. The article gives a detailed characterization of factors hindering the promotion of environmentally responsible investments and reducing the effectiveness of projects for climate change adaptation in the republic. As a result, factors contributing to the successful implementation of ESG development policy in Kazakhstan were identified, and recommendations based on this were given for further activation. The conclusion emphasizes the relevance of continuing research in strengthening the informational support of the ESG development process in the economy, primarily through implementing non-financial reporting.

The commercialization of scientific research and development (R&D) results is a key driver for enhancing corporate revenues and profits, positively impacting economic development, and increasing global and national competitiveness. However, commercialization is a complex process influenced by various factors. This study aims to assess the mutual influence of commercialization factors of R&D in Kazakhstan and provide recommendations to strengthen positive influences and mitigate negative ones. Utilizing official data from the Bureau of National Statistics, including metrics such as enterprise innovation activity, the share of innovative products in GDP, patent numbers, R&D expenditures, industry innovation costs, and R&D personnel, a regression analysis was conducted using the time series method and the vector autoregression (VAR) approach. The analysis revealed that increased innovative activity of enterprises positively impacts the export of innovative products after three years but negatively affects the share of innovative products in GDP. Additionally, higher industry innovation costs and an increase in patent numbers lead to a rise in innovative product exports after three years. However, an increase in innovative product exports subsequently reduces patent numbers after three years. These results indicate that domestic enterprises focus primarily on expanding export-oriented products for short-term profit gains, reducing costs, and achieving immediate results, often at the expense of substantial innovation activities. The findings suggest a need for strategies to balance short-term profit motives with sustainable innovation investments to enhance long-term economic growth and competitiveness.

This study sheds light on the achievements of digital financial technologies and blockchain technology in the stock market. This study aims to examine the relationship between blockchain technology and macroeconomic variables, as well as the impact these variables have on stock market performance. For this, authors used the methodology of correlation and regression analysis, analyzing data on cryptocurrencies, the stock market and key paper exchange rates. The study confirms a significant correlation between blockchain dynamics, particularly cryptocurrency price fluctuations, and stock market performance, indicating that movements in digital asset classes such as Bitcoin and Ethereum have measurable impacts on traditional financial markets. Traditional economic indicators continue to play a crucial role in stock market behavior, with variables like inflation rates and GDP growth showing strong correlations with market performance. The results suggest a complex interplay between blockchain technology and macroeconomic indicators, emphasizing a growing interconnectedness between emerging digital financial products and economic measures. In addition, the findings are particularly relevant for investors, financial analysts, and policymakers, highlighting the need for a holistic market analysis approach that integrates both new technological advancements in blockchain and economic indicators. The study underscores the evolving influence of blockchain technology on traditional stock markets that encompass both new digital assets and economic frameworks. Moreover, further studies could explore the impact of blockchain technology on specific sectors within the stock market, such as technology, finance, and consumer goods.

This study aims to elucidate the role of the Middle Corridor, also known as the Trans-Caspian International Transport Route (TITR), in diversifying global trade routes and enhancing economic resilience amid geopolitical tensions. The paper examines the corridor's impact on the economic and strategic interests of the countries it traverses, particularly Kazakhstan, Azerbaijan, Turkey, and the European Union. The analysis employs a multidimensional approach that includes historical context analysis, comparative route analysis, geographic information system mapping, and statistical analysis. Data were collected from various sources, including the World Bank, the International Trade Centre, and trade and economic policy reports from Kazakhstan, Azerbaijan, Turkey, and the European Union databases. Based on the methods used, the study compares the Middle Corridor with traditional trade routes such as the Northern Sea Route and the Suez Canal, highlighting its advantages and potential limitations. The Middle Corridor has emerged as a vital alternative, offering reduced transit times and enhanced trade security between Asia and Europe. The corridor has experienced a significant increase in cargo volume, reflecting its growing importance in international trade. Furthermore, the Middle Corridor contributes to the participating countries' economic diversification and energy security, facilitating the movement of energy resources and other goods. The analysis revealed challenges such as political instability and infrastructural needs that could hinder the full potential of the Middle Corridor. Ultimately, the study underscores the strategic significance of the Trans-Caspian Route and the Zangezur Corridor in diversifying global trade routes and strengthening economic resilience in geopolitical tensions.

The study aims to quantitatively assess the availability of various infrastructures for doing business and identify the main barriers in the infrastructure industry that hinder the ease of doing business and investment development in regions of Kazakhstan. The authors assessed infrastructure accessibility in Kazakhstan's regions based on an SME managers' survey. They developed an index of infrastructure availability, a practical tool for gauging infrastructure development in a specific region or country. This index is crucial for investment planning and developing relevant sectors of the national economy. The findings revealed that no region in Kazakhstan has a good infrastructure. Access to its most essential types is only at an average level, with the lowest index values observed in Almaty and East Kazakhstan regions. The analysis of SMEs' problems with access to infrastructure highlighted bureaucracy and difficulties in obtaining permits, high wear and tear of networks, and high connection costs as the main issues. The authors underscore the increasing global economic and geopolitical risks that lead to fundamental changes in Central Asia, particularly Kazakhstan, which has excellent potential for developing transit routes between East and West. They advocate for active investment in infrastructure projects as a solution. According to expert forecasts, if Kazakhstan invests at least 4% of its GDP annually, it can completely replace and modernize the republic's worn-out transport infrastructure by 2040, leading to significant economic benefits. The authors will use the study's results to create regional indices of doing business in Kazakhstan.

The creation of industrial clusters is a crucial factor in the economic development of a region, enhancing competitiveness, innovation, and economic sustainability. Universities play a pivotal role in the formation and growth of these clusters by providing scientific and technical support and training. The entrepreneurial activities of universities, such as creating startups, conducting applied research and development, and forming strong ties with business and industry, facilitate the transfer of technology and innovation to the real economy. The research methodology is based on a comprehensive analysis of the strategic development priorities of regional universities. It examines the factors that influence effective interactions between universities and regional mining enterprises, as well as strategies that promote the entrepreneurial activities of educational institutions within the context of building and supporting industrial clusters. The methods employed include econometric analysis, surveys, and interviews with representatives from universities and industry, as well as comparative analysis of successful models for creating industrial clusters. The research revealed that the involvement of regional universities in industrial clusters accelerates the implementation of scientific developments and enhances resource efficiency. Successful collaboration models and critical factors for university entrepreneurial activity were identified, along with barriers and recommendations for overcoming them. The study's results can be utilized to develop strategies and government support measures aimed at fostering an innovative economy and increasing regional competitiveness.

The purpose of the article is to study the influence of factors on the real incomes of the population of Kazakhstan and substantiate priority ways to increase them. Using a factor-correlation analysis of the real monetary income of the population with indicators of nominal monetary income, inflation, and the growth rate of the country's economy, the influence of these indicators on the growth rate of income of the population was revealed. Data from the Bureau of National Statistics from 2010 to 2022 were used. The increase in the minimum wage is recognized as one of the tools for increasing incomes, which will lead to an increase in GDP by demand, and will lead to an increase in the IFO of GDP by demand by 0.24%, provided that real household spending increases by 1%. An increase in household incomes will lead to an increase in demand for consumer goods and services, which will lead to an increase in food prices by 0.14%, provided that real household spending increases by 1%. For the growth of real incomes of the population, it is important to strengthen the business activity of the society. An increase in the contribution of SMEs by 1% will lead to an increase in household incomes by 0.32%. An increase in lending to the economy by 1% will lead to an increase in household incomes by 0.11%. The growth of non-primary exports by 1% will lead to an increase in household incomes by 0.13%.

This study delves into the optimization of investment portfolios within the Unified Accumulative Pension Fund in Kazakhstan, employing the Quasi-Sharp model as a pivotal tool. Through a meticulous analysis of the UAPF's investment portfolio evolution, this research scrutinizes shifts in asset allocation and their ramifications on investment returns. The Quasi-Sharp model, a tailored adaptation of the Sharpe model, is harnessed to ascertain the optimal equilibrium between profitability and risk in pension asset management. The STATA program was used to calculate the indicators. Results divulge the imperative role of diversification across various asset classes in mitigating risk while maximizing returns. Optimal investment portfolios are meticulously crafted, considering an array of financial instruments such as stocks, bonds, and bank deposits. The findings underscore that while stocks proffer higher potential returns, bonds offer stability and lower risk. Additionally, bank deposits exhibit stable returns, albeit with limited growth prospects. The study revealed that the maximum expected return with a risk limit of less than 5% could be provided by a portfolio including shares of Halyk Savings Bank of Kazakhstan, Kcell, and KazTransOil in the ratio of 57%, 32%, and 11%, respectively. Key recommendations for investors encompass regular monitoring of market dynamics, diligent assessment of risk tolerance, and recourse to professional advice when warranted. This study furnishes invaluable insights for pension fund managers and investors endeavoring to augment portfolio performance while adeptly managing risk within the Kazakhstani market landscape.

One of the ways of state social growth is to create new jobs for people with disabilities in public administration. One of the most successful and competitive policies in this direction is the development of social entrepreneurship. Today, social entrepreneurship is receiving a lot of attention at the global level. Nevertheless, the theory of social entrepreneurship is still at the conceptualisation stage, as different countries have different features of social entrepreneurship coverage and different approaches to social entrepreneurship initiatives. The government of Kazakhstan has shown interest in the development of entrepreneurship in general and social entrepreneurship in particular as a means of achieving sustainable development goals and solving social problems. Analysing the works of many authors, the paper identified the main characteristics and factors that define social entrepreneurship. The paper conducted regression analysis in order to analyse the current state of social entrepreneurship in Kazakhstan and determine its impact on socio-economic indicators. Kazakhstan faces various social problems such as unemployment, poverty and regional disparities. Social entrepreneurship is seen as a viable approach to solving these problems by creating innovative solutions. The aim of the article is to analyse theoretical and empirical research, to bring together different points of view on the topic of social entrepreneurship and to identify opportunities for its development by analysing the situation of «social entrepreneurship» in Kazakhstan. The scientific novelty of the study is determined by the correlation between the indicators of economic development and social entrepreneurship.