Preview

Central Asian Economic Review

Advanced search
No 4 (2023)
View or download the full issue PDF (Russian)

STATE AND BUSINESS: THEORY AND PRACTICE OF MANAGEMENT

6-14 392
Abstract

The purpose of the research is to identify the impact of the investments in human capital on the general financial conditions of the largest private companies of the Republic of Kazakhstan, as well as to develop recommendations for companies to have better financial incentives for employees.

Research methodology – there was applied panel data of ten companies throughout the 2022 year. The data analysis includes the variables of the number of employees, company size, revenue, trainings, qualifications and other similar courses, provided by the companies.

Originality/value of the research – there are a lot of studies, that analyze how employees make an impact on company, however most of them have qualitative way of research. Authors, in turn, apply quantitative modelling and analyze the largest companies in Kazakhstan.

Findings. Our findings show that the number of employees appears to have a statistically significant positive impact on revenue. More employees are associated with higher revenue.

15-29 508
Abstract

Purpose of the research – To determine trends in employment and wages in the labor market of Kazakhstan, depending on the level of qualification.

Methodology – The study was carried out by the desk method and consisted of two stages. At the first stage of the study, general indicators of employment and wages were analyzed, at the second - depending on the level of qualification. The source base was the statistical data of the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan. A limitation of the study was the lack of data on employment by age and region, as well as the studied statistical data for a certain period of time. The main research methods were comparison, economic and statistical analysis, horizontal and vertical analysis.

Originality / value of the research – The study of employment and wages is especially relevant in the post-pandemic period, since the pandemic and the acceleration of digital transformation associated with it had a noticeable impact on the labor market development. This study is aimed at filling a research gap in the study of employment and wages in Kazakhstan’s labor market, depending on the level of qualification.

Findings - The following trends can be distinguished in the labor market of Kazakhstan: an increase in employment in the tertiary sector of the economy, an increase in employment in the sectors of highly qualified services, an increase in the share of highly qualified and highly educated employees in the total number of employees, an increase in employment among women, a decrease in employment in professions and specialties related to routine physical work and repetitive learning tasks, rapid wage growth for skilled workers, gender segregation, wage inequality, including gender.

30-44 328
Abstract

Purpose of the research: The primary objective of this research is to study the role of local goverment in developing countries, especially in Kazakhstan, in the promotion, support and sustainable development of women's entrepreneurship.

Methodology: This study includes an analysis of the existing relevant literature in the main body in order to examine the role of local governments in promoting and supporting women entrepreneurship. The research methodology includes general official statistical data, as well as interviews with stakeholders related to women's entrepreneurship policy, interview analysis, identification and coding of important themes.

Originality of the research: The research aims to provide valuable perspectives and feasible plans for stakeholders by putting forward recommendations for policymakers. The study seeks to consolidate insights on the importance of women's involvement in entrepreneurship for driving economic growth and advancing gender equality.

Findings: The study revealed important findings regarding the role of local governments in supporting and empowering women entrepreneurs. These results contribute to a better understanding of the problems faced by women in the field of entrepreneurship and provide recommendations for solving them.

45-55 437
Abstract

The purpose of the research. Assessment of the real volume of the freelance services market, the scale of freelancing in the Kazakh labor market based on the available official data from the information systems.

Methodology includes the use of methods: statistical and quantitative analysis of labor market indicators; qualitative analysis in reviewing the works of domestic and foreign scientists on the topic of research; graphic methods of visualizing the results of the study.

Originality/value of the research. The paper offers the results of the analysis of the current state and key problems of Kazakhstan's freelancing market; it assesses the scale of domestic freelancing, considered new prospects for the development of freelance, its social and economic role in solving the problems of reducing unemployment and ensuring employment of the population.

Findings. Freelancing in Kazakhstan is currently not widespread and has little impact on the labor market, although many freelancers are still out of the picture. The freelance services market is closely interconnected with the situation on the labor market. Rather high level of unemployment, lack of opportunity to get a job in their specialty force people to this type of employment.

56-65 509
Abstract

The purpose of the research – This research aims to study the practices of strategy development in public and private universities in Kazakhstan and develop recommendations for their improvement. Particular attention is paid to the strategy development process, stakeholder engagement, the impact of the pandemic, as well as issues of well-being and digitalization.

Methodology – Semi-structured face-to-face and online interviews were used as a collection method. The researchers conducted 7 semi-structured interviews with senior or middle managers who participated or are involved in the development of the strategy (rector, vice-rector, head of the department), as well as an analysis of strategic documents.

Originality / value of the research – There are many studies in the scientific literature on the impact of the pandemic on various processes in higher education, but the impact on the strategic planning process, taking into account digitalization and the well-being of students and staff, is poorly studied. This study fills this gap, and also shows practices and difficulties in strategic planning at universities in Kazakhstan.

Findings – In the process of strategic planning, there is a top-down approach, with low involvement of stakeholders. In public universities, the dominant role is played by key performance indicators (KPIs), released by the EOM, turning strategies into a plan to achieve these KPIs. The pandemic has prompted universities to take a strategic approach to digitalization, but well-being issues are not taken into account in the planning process.

THEORY AND METHODOLOGY OF ECONOMIC SCIENCE

66-79 354
Abstract

Purpose of the research. This article aims to explore the validity of economic theories of conflict in explaining the root causes of intercommunal conflicts in Kazakhstan.

Methodology. Such theoretical overview and qualitative methodological approach offer a more nuanced picture and constitutes an initial step in tailoring context-specific de-escalation strategies.

Originality / value of the research. Through in-depth case study of Korday clashes in 2020, it challenges scholars who have attributed the roots of intercommunal conflict to lingering Soviet legacy and language politics. This literature takes communal grievances that attribute conflict to identity politics and/or rights for granted. They concentrate on discourse and take complaints at face value. Instead, this article explores applicability of the economic theories of «greed» and «relative deprivation» in conflict contexts.

Findings. By using results of our fieldwork supported by research project of the Ministry of Science and Higher Education of the Republic of Kazakhstan, we show that «greed» hypothesis explains the predatory context on the local level, while the relative deprivation theory explains the perceptions of local population. The combination of these two conditions provided fertile ground for the collective grievances and served as the primary causes of conflict.

INVESTMENT, FINANCE AND ACCOUNTING

80-96 318
Abstract

The purpose of the study is to develop practical recommendations for the formation of an effective ecosystem of financial support for environmentally responsible investments in Kazakhstan based on the study of foreign experience in the development of “green” financing and ESG investments.

Methodology – in the course of the study, methods of comparative assessments, logical generalization, analogy, systematization and grouping of data were used; the study was based on publications of domestic and foreign authors in scientific publications.

Originality / significance of the study – the results of the study can be applied in improving the state policy in the field of building an ecosystem of responsible investment and “green” financing in Kazakhstan. The comprehensive use of the research results will give impetus to the development of the financial market of Kazakhstan and increase the effectiveness of the financial policy, ensuring the sustainability of the economy.

Research results – the concept of an ecosystem is considered and its main elements are described; the content of the ecosystem of financial support for environmentally responsible investments is studied; the elements of the global ecosystem supporting responsible financing and “green” finance are typologized and international organizations developing a methodology for responsible investment at the global, interregional and national levels were identified; the analysis of measures for the development of the “green” component of Kazakhstan stock market is carried out, the volume of ”green” bonds on the KASE and AIX exchanges was estimated.

The general scheme of the ecosystem of financial support for environmentally responsible investments in Kazakhstan is presented, which will be based on the Agency for Regulation and Development of the Financial Market, the Ministry of Ecology, Geology and Natural Resources, the Ministry of Energy, “Astana” International Financial Center. Recommendations for more active involvement of the National Bank of Kazakhstan and local authorities in the development of environmentally responsible financing are formulated. In conclusion, 10 main directions of further development of the ecosystem of “green” financing in Kazakhstan are proposed.

96-106 291
Abstract

The purpose of the study is to identify new mechanisms for increasing financial support for sustainable development projects in Kazakhstan based on the use of digital technologies.

Methodology. To conduct the study, the methods of content analysis of scientific literature, dynamic analysis of indicators for the development of sustainable financing in Kazakhstan, and comparative analysis of the possibilities of investment platforms and portals were applied. The statistical data of the Green Finance Center in AIFC, the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, international and national standards and guidelines in the field of sustainable development were studied.

Originality/value of the research. The study is aimed at solving the actual problem of developing sustainable financing in Kazakhstan. To achieve this goal, the study proposes the use of digital platforms that will help to attract private investment in sustainable development. The criteria for checking projects for compliance with the goals of sustainable development have been systematized.

Research results. The stages of developing a digital platform for financing sustainable development projects, logical relationships between processes and information flows, types of connections between platform users are determined. The platform solution can contribute to the growth of funding for the green economy and social projects and make a significant contribution to the promotion of sustainable development priorities.



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


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