Preview

Central Asian Economic Review

Advanced search
No 4 (2019)
View or download the full issue PDF (Russian)

HUMAN RESOURCE MANAGEMENT

8-16 287
Abstract

The article considers the issues of improving the quality of human capital, the demand for university graduates in the labor market, the problems of youth unemployment. The regularity between the demand, the appropriate level of training of specialists and the need to change the paradigm of education is shown.
The used methodology is based on the methods of scientific knowledge, a set of empirical methods, institutional, statistical, comparative analysis made it possible to study the theoretical and methodological aspects of human resources in conjunction with historical chronicle of the development of higher education.
The main conclusion of the article is the need to form a new education paradigm, which will set a high standard for the quality and dynamics of human capital development in Kazakhstan. Determining the directions of national higher education system will allow developing a mechanism for managing, preserving and increasing human resources to achieve the country's competitiveness in the future.

17-24 420
Abstract

In face of the rapid globalization, more and more emerging market Multinational companies (EMNCs) are assigning expatriates to establish and manage overseas tasks in order to gain the competitive advantages in global markets. Consequently, the issue of expatriate management within the context of emerging country MNEs has become an important concern in the field of International Human Recourse Management (IHRM).
The purpose of this study is to contribute with an understanding of problem expatriates encounter during their expatriation period and how the expatriation process can be improved with the help of HR practices.
A qualitative study with in-depth interviews has been conducted with four Chinese expatriates working in 4 different Chinese MNCs’ divisions.
The empirical findings show that the pre-departure training expatriates receive are focused on work related issues, hence cultural awareness training are often neglected. This leads to problems for the expatriates, like for example integration problems, adjustment problems for the expatriate and his/her family members, and not being able to communicate in the local language. Also the support received from the home country company are many times insufficient, and the home country companies rarely provide the expatriates with any form of repatriation program to ease their re-adjustment process.
This study shows that many organizations need to improve the different parts of their expatriation process. The organizations should especially focus on developing their pre-departure training to include cultural training for both the expatriate and the spouse, and develop a sufficient repatriation program.

FINANCE AND INVESTMENT

25-39 401
Abstract

Purpose – to develop methodical approach to determine the fair value of real estate on the example of housing in Almaty.
Methodology – comparative and econometric research methods Originality/value - the results of the statistical analysis show the applicability of statistical analysis as a tool for estimating the fair value of investment property for financial reporting. In addition, the findings can be a basis for a mass valuation of residential real estate in Almaty by appraisal and real estate companies to forecast housing prices or determine the market value of real estate.
Findings – statistical analysis methods can be used to determine the fair value of investment property. The main factors affecting the cost of residential real estate in Almaty are location, total area, type of layout and condition of the finish. The analysis shows buyers give more preference to the secondary market than to new buildings.

40-49 291
Abstract

The following paper mainly examines the core factors affecting the business of the banking industry of the transitional economy of Kazakhstan in the period of the post-financial crisis decade with respect to the risk concern. As the pinpoint of the evaluation of the industry performance, the accounting measures of the performance of the banks are taken as the factors of the return that can help estimate the overall industry work. The growth variables and the risk measures are presupposed to be the central values evaluating the banking industry performance as it is outlined in many previous studies of the field. One of the specific points in regards to the transitional economies is that banks are playing the main roles in the capital markets. As a result, political reforms and governmental support decisions are in many cases directed to help the industry prosper, as the other players of the capital market are mostly weaker than the banks. The preliminary study results of the work are covering Kazakhstani banking industry in the range of ten years after the crisis of 2008 with the quarterly given values. The financial stability taken as the risk and return measures are mostly taken as the accounting values specific to the banking industry. The measure of risk needs to be taken in the aspect of a period of observation. The average is around 10 points suggesting the positive stream. As for the profitability measures, they suggest 16 to 17 percent positive effect on the overall performance of the industry.
The macroeconomic variables as the GDP growth and inflation for the examination period have the values similar to the true economic measures and equal to around 3,8 and 8 percent on average, respectively. What is interesting, the non-traditional to the bank way of profit generation has more than 50 percent generation through commissions and fees. Following the preliminary empirical estimations, we expect that the improvement of the overall banking industry performance is highly dependent on the supervision and regulation, specifically for the Kazakhstan.

50-64 404
Abstract

The purpose of the study is to review the main differences between high-tech industries and traditional ones, highlight the features of financing high-tech industries based on the study of foreign experience.
Methodology - to conduct this study a review of sources on the distinguishing characteristics of financing high-tech industries was conducted. In order to obtain the distinctive characteristics of high technology production scattered knowledge in the terminology of high technology production is systematized. A study of the experience of financing high-tech industries in the USA and China was also carried out using the methods of analysis and synthesis.
Originality / value - In this paper, an overview of the main differences between high-tech production from the traditional one, as well as the specifics of financing high-tech industries are conducted. The article reveals the experience of financing high-tech industries in the United States, as a leader in high technology, and China, as a leader in the export of high-tech industries. The analysis allows us to trace the development trends of hightech industries in advanced countries. This study allows us to draw conclusions and recommendations for use in strategies and concepts for the development of high-tech industries.
Results - the peculiarity of financing high-tech industries is determined by a high degree of uncertainty and a long payback period for projects of this type. The main factors, such as the stage of the life cycle of innovative production, the degree of development of market and institutional infrastructure influence the choice of the method of financing high-tech industries.

INNOVATION ECONOMICS

65-74 313
Abstract

The purpose of research paper is to justify the use of information technology for the development of innovative activities of digital agricultural farms and the growth of agricultural production in Kazakhstan.
Methodology. Several methods are applied such as studying bibliographic sources, systematization, synthesis, comparison, economic analysis.
The value of the work is to conduct an economic analysis of the activities of digital farms based on the introduction of new innovative information technologies, identifying problems and developing practical recommendations for improving the implementation of electronic resources in the agricultural sector of Kazakhstan.
The main results obtained include: disclosed issues of the development of information technology in the system of public administration of the economy of Kazakhstan; the role of state support for digital technologies and the agribusiness sector is shown; the importance of using information technologies in the development of "digital agricultural farms" in Kazakhstan is determined; the foreign experience of creating agrotechnological startups and the functioning of “digital agricultural farms” is considered; factors of underdevelopment are revealed and recommendations for improving the development of “digital agricultural farms” in Kazakhstan are proposed.

75-84 510
Abstract

The purpose of the study is to evaluate the effectiveness of the implementation of outsourcing at enterprises in Almaty and the Almaty region based on the results of survey.
The research methodology consists of systematic approach: collection of information by conducting questionnaires and personal interviews, analyzing and systematizing the received information, and based on the obtained results, determining the effectiveness of outsourcing implementation at enterprises.
Originality / value of the work - the findings can be used in decision-makings of enterprises on use of outsourcing services.
The results of the study - an analysis of study on the effectiveness of outsourcing at 200 enterprises in Almaty and Almaty region give us the results, that the majority of respondents have positive trends in implementing the outsourcing services. The most widespread types of outsourcing in accounting logistics services and IT. There have been identified the main causes and risks of the implementation of outsourcing in the studied enterprises.

85-95 388
Abstract

Purpose – Understanding and classification of the scientific community’s responses to the policy of internationalization of research in Kazakhstan
Methodology – A conceptual framework has been developed to classify scientists' reactions to research internationalization policies based on scientific literature. This conceptualization of various types of reactions was applied to analyze data collected using semi-structured interviews.
Originality/value – The value and originality of the work lies in studying the perspectives of the scientists themselves, while many previous studies mainly focus on science metrics and link internationalization to productivity. The work is also of practical importance to administrators in the field of science and helps to understand the different types of reactions and behavior of scientists.
Findings – It is necessary to develop policies that combine qualitative and quantitative indicators of internationalization and research productivity and a departure from policies based only on the number of publications.

96-105 346
Abstract

Purpose – to explore existing approaches to evaluation the innovative development of enterprises
Methodology –the graphic method, as well as general scientific methods are used: synthesis, analysis, comparison, generalization.
Originality/value – the article considers the role of implementation of innovations in the processes of organization of management and production. A system for managing the innovation activity of enterprises has been developed, system of indicators for assessing innovation activity, and a detailed and diagnostic approaches to analyzing the internal environment and assessing the external environment of the enterprise have been considered.
The results of the research could be used in making rational decisions that will effectively manage the innovative activity of the enterprise.
Conclusions - the management system of innovation activities of the enterprise was analyzed in the work. The advantages and disadvantages of approaches to the evaluation of innovative development were considered.

105-112 301
Abstract

Purpose– the main purpose of the paper is to identify qualitative relationships between innovation and technology transfer. The review of innovation, technology and technology transfer definitions and researcher’s discussion were used to formulate the research question: What is the relationship between innovation and technology transfer?
Methodology – The authors discussed the process of creating an innovative economy through technology transfer. The opinions of various foreign scientists on the concept of technology transfer were studied. The systematic search of scientific literature was performed to collect the existing review paper on innovation and technology transfer. We also widely used such methods of theoretical research as analysis and synthesis, classifications, methods of comparative research.
Originality/value – importance of work theoretical aspects of technology transfer considered was the relationship between innovation and technology transfer.
Findings – it was determined that the essence of innovation is needed to maximize the socio-economic effect thus increasing the efficiency of the use of intellectual potential. The authors proposed ways to improve the innovative development of technology transfer and innovation infrastructure.

113-123 335
Abstract

Purpose is to reveal the essence of intellectual activity, their commercialization and involvement in market circulation.
Methodology - Proposals are made on possible measures of real progress in terms of the implementation of key areas for creating a national system and a mechanism for enhancing innovation and commercializing its results.
Originality / Value - It consists in enhancing innovation in the conditions of commercialization of intellectual property of both public and private enterprises, and putting them into market circulation.
Findings - The solution of a large-scale task for the formation of an innovation-oriented system, we need a developed market of intellectual property. For this, it is important to ensure the effectiveness of the system of measures for the commercialization of intellectual property objects and their involvement in the market turnover through the use of modern methodological tools and information technologies for conducting scientific, methodological and analytical research on the development of the market for intellectual property objects.

123-133 346
Abstract

The aim of the research is to determine the most effective methods of managing cyber risks in the banking sector.
We used the methods of analysis and synthesis, statistical and factor analyzes, on the basis of which the cyber risks were evaluated, and conclusions were drawn that reflected the progress of implementation and the results of work to reduce these risks.
Despite the fact that many studies are devoted to cyber risks, especially recently, these processes in the Kazakhstan economy remain insufficiently studied.
The study revealed the main directions of reducing cyber risks. First of all, it is necessary to increase awareness of information security threats. In order to eliminate cyber risks in terms of country security, the number of domestic information security specialists should be increased. It is also necessary to increase the share of domestic ICT software products used in the state and quasi-state sectors.

ECONOMY OF INDUSTRIAL MARKETS

134-141 758
Abstract

The purpose of the study is to analyze and assess the demographic situation in Kazakhstan at the present stage of its development. To propose the development of a fundamentally new Concept of demographic and family policy of the state.
Methodology-the study of the state of demographic processes using various methods of analysis, synthesis on the basis of statistical data.
The value of the work lies in the results of the analysis using statistical methods and their approbation of indicators of natural and migration movement of the population.
Conclusions-this study is based on a system of statistical indicators relating to the movement of the population as a whole in the country and its regions: the change in population due to the influence of various factors.

142-155 322
Abstract

Purpose -of the research is to study the impact of the main factors that contribute to the increase of competitiveness and promotion of milk and dairy products in our country.
Methodology - The study uses quantitative methods of research, ie the method of economic and mathematical modeling using statistical data. Mathematical models are created on the basis of statistical data using numerical methods of research.
Originality/value - the problem of increasing the competitiveness of milk and dairy products, raising competition in the market is important for the development of dairy and dairy products of domestic producers. Therefore, it is necessary to increase the competitiveness of dairy products.
Findings- The article highlights the need to identify the key factors that affect the competitiveness of milk and dairy products in the promotion of export, first of all, in the promotion of export. This issue is especially important in the agricultural sector in the food market, including for dairy companies. This is because agriculture is an important sector of the country's economy that provides food for the population.

156-170 601
Abstract

Purpose of the research is to analyse the processes of the development and realization marketing policy of telecom company, in the context of “Digital Kazakhstan” and global trends in the case of Joint Stock Company “Kazakhtelecom”.
Methodology – in the research process authors were used scientific methods of learning: dialectic, abstract logical approach, analysis and synthesis, the special methods of research: SWOТ – analysis, as well as analytical and graphic approaches.
Originality/value of the research is to develop of theoretic - methodological and practical approaches to the development and realization marketing policy of telecom company in the context of “Digital Kazakhstan” and global trends.
Findings – to the main results of research can be considered as follows:
1) considered and systematized scientific perspectives, approaches to the understanding marketing policy and content of marketing strategies for the development companies in modern conditions, also identified specificity the development of marketing policy of telecommunication industry companies and need for it continuously improved;
2) analyzed economic situation in world modern market for information technology services and determined development trends of IT-market in Kazakhstan;
3) a comprehensive review to examine how the development and realization of marketing policy of Joint Stock Company “Kazakhtelecom”, which offered marketing strategy of company;
4) proposed ways to further improve marketing policy of Joint Stock Company “Kazakhtelecom” in the context of “Digital Kazakhstan” and global trends.

171-179 314
Abstract

Purpose - The purpose of this paper is to evaluate the effectiveness of the special economic zones (SEZs) in Kazakhstan and study the new generation of zones in the global economy.
Methodology – The author used secondary data analysis related to SEZs operations in Kazakhstan. The author studied legislation related to zones functioning and articles of national and foreign authors on SEZ efficiency and impact on economies. For new trends of SEZ, development author reviewed the publications of international organizations like UNCTAD, World Bank, Asian Development Bank.
Originality/value -The article is useful for local zones development and impact management, as it is important to disseminate the best practices of foreign countries in the national economy. The role of SEZs in global is changing rapidly and Kazakhstan can absorb lessoned learned in different aspects of zones operating.
Findings – The author made valuable conclusions based on the analysis of SEZs in Kazakhstan for correct evaluation of their effectiveness. The practical lessons from foreign experience could be implemented in management of such zones to compete in global economy.

BUSINESS AND TOURISM

180-192 438
Abstract

Purpose – the main purpose and conclusion of the research paper, theoretical conceptual models of consumer behavior in tourism, proposed by various Western authors and researchers, are systematized and identified.
Three key factors of external influence on consumer behavior that are currently being actively discussed by the authors and the main trends in the study of consumer behavior are indicated.
Methodology – content analysis. Articles on the topic of research on consumer behavior in the field of tourism were reviewed in specialized international journals. The journals entitled, “Consumer behavior in tourism”, “Journal of Travel Research”, “Tourism Management”, “Journal of Marketing Research”, “Annals of Tourism Research”, “Journal of Consumer Research "," Journal of Marketing " are included in international databases.
The originality of the work - a modern overview of the key conceptual approaches used to understand consumer behavior in the field of tourism and future research program in tourism, based on an analysis of various modern studies are provided.
Findings – main focus and findings of the article is the theoretical approaches of various authors-researchers are systematized according to nine main concepts concerning consumer behavior, three key factors of external influence on consumer behavior and there are several trends in the study of consumer behavior in tourism are considered.

193-207 538
Abstract

Purpose – to analyze and consideration of the current trend in international tourism in Kazakhstan, the identification of exogenous and endogenous factors affecting international tourism.
Methodology – in the course of the study, a survey method was exchanged to determine the degree of influence of endogenous and exogenous factors on international tourism in Kazakhstan.
Originality – determine the degree of influence of some factors of international tourism of the republic. The value lies in the fact that the results reveal weaknesses in the development of international tourism.
Conclusions – It was noted that some of the factors presented in the work have a significant impact on the development of tourism, as well as identifying weak factors that hinder the development of international tourism in Kazakhstan, which gives us the opportunity to offer alternative mechanisms to address some issues of the tourism sector and offer recommendations.

208-222 623
Abstract

Purpose - the main purpose of this scientific article is to analyze the historical and cultural potential of Zhambyl region and develop recommendations for its effective use in the development of tourism.
Methodology - the methodological basis of this scientific article are the works of domestic and foreign scientists in the field of effective use of cultural and historical potential of the territory, both in Kazakhstan and in foreign practice.
Originality / value – at the present stage of development of the tourism sector, the most important task is to increase the efficiency of the historical and cultural potential of the region in order to promote tourism services.
Findings - the possibility of carrying out tourist activities and the development of tourism potential of the region, as well as possible revenues from this activity are of great interest to modern society and cause the importance and relevance of this study. The region combines favorable geographical location, preserved natural potential and rich cultural and historical heritage. This unique combination of historical, cultural and natural conditions creates a good basis and prospects for the development of tourism.



Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.


ISSN 2789-4398 (Print)
ISSN 2789-4401 (Online)