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MONETARY POLICY OF THE REPUBLIC OF KAZAKHSTAN
Corresponding Author(s) : Bekmukhametova Assemgul Bauirzhanovna
Humanities & Social Sciences Reviews,
Vol. 7 No. 5 (2019): September
Abstract
Purpose: Currently due to Kazakhstan's high vulnerability to external shocks, Kazakhstan needs new growth factors to accelerate and provide more inclusive growth. The National Bank of Kazakhstan, as the central bank, is responsible for the development and implementation of state monetary and credit policy within the framework of powers provided by current legislation. Objectives of monetary policy are primarily carried out to achieve this goal. Restoration of trust to actions of economic authorities is possible only if a balanced and responsible policy, supported by concrete actions and results, is implemented.
Methodology: This study provides a literature review of domestic and foreign authors, who conducted the study of monetary policy of Central Banks of countries in various aspects of international experience. The study gives an analytical overview of the current monetary policy of the Republic of Kazakhstan.
Main Findings: The study discusses the importance of Kazakhstan’s monetary-credit regulation as only by means of effective monetary policy state can mitigate economic crises, restrain inflation growth and stimulate investments in various sectors of country's economy. The studies are systematized theoretical and methodological research aspects of the monetary policy of Kazakhstan of which the conclusions and recommendations proposed to improve the economy of our country.
Implications/Applications: This suggests that we should work in the near future, look for drivers of growth, so as to ensure not just an anti-crisis manual management of the economy, but to enter the rails of sustainable development.
Keywords
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- Zhukov, E. F. (2007). Banks and bank operations. - M: Banks and stock exchanges.
References
Bahri, C., Mahsina S. E., & Poniwati, M. (2017). The influence of undervaluation, free cash flow, leverage and dispersion of ownerships toward company’s stock repurchase (An empirical study of Indonesia stock exchange public listed companies). Journal of Administrative and Business Studies, 3(5), 235-247. https://doi.org/10.20474/jabs-3.5.3 DOI: https://doi.org/10.20474/jabs-3.5.3
Bakulina, A. S. (2014). Social infantilism in the context of the demographic situation in modern Russia. Human Capital, (5), 146-151.
Barkatullah, A. H. (2017). Implementation of limited liability principles and doctrine of piercing the corporate veil in management of local liability companies. Journal of Advanced Research in Social Sciences and Humanities, 2(6), 348-357. https://doi.org/10.26500/JARSSH-02-2017-0602 DOI: https://doi.org/10.26500/JARSSH-02-2017-0602
Bertaeva, K. Zh. (2013). Prospects of development of the industry of Islamic financial services in Kazakhstan. Statistics, Accounting and Auditing, 1, 168-172.
Bharucha, J. (2016). Taking ownership of the future: Developing practical money skills among the youth in emerging economies. International Journal of Business and Economic Affairs, 1(1), 13-20. https://doi.org/10.24088/IJBEA-2016-11003 DOI: https://doi.org/10.24088/IJBEA-2016-11003
Burki, A. K. (2017). Financial crisis and determinants of capital structure of investment banking sector in Pakistan. Journal of Administrative and Business Studies, 3(3), 153-160. https://doi.org/10.20474/jabs-3.3.5 DOI: https://doi.org/10.20474/jabs-3.3.5
Endang, K., & Risal. (2017). The effect of investment decision financing decision dividend payment policy and company size. Journal of Administrative and Business Studies, 3(2), 105-113. https://doi.org/10.20474/jabs-3.2.5 DOI: https://doi.org/10.20474/jabs-3.2.5
Hamison, L. E., & Huntington, S. P. (2000). Culture matters: Asian values. New York, NY: Basic Books.
Haslam, P., & Lamberti, R. (2014). When money destroys nations. Penguin UK.
Karim Mh, Elyas, K. M., Mahmood, S. N., & Hossein, A. (2017). Evaluation of human resources re-engineering and knowledge management processes on the economy of Sirjan free trade zone (Iran). International Journal of Business and Economic Affairs, 2(2), 127-134. https://doi.org/10.24088/IJBEA-2017-22006 DOI: https://doi.org/10.24088/IJBEA-2017-22006
Kokanuch, A. (2018). Readiness of Trade Business and Border Trade Entrepreneurs to Green Economy: Thailand. International Journal of Business and Administrative Studies, 4(2), 60-67. https://doi.org/10.20469/ijbas.4.10003-2 DOI: https://doi.org/10.20469/ijbas.4.10003-2
Kuznetsova, T. E., & Rud, V.A. (2013). Competition, innovation and development strategies of Russian enterprises (the results of empirical research). Economic Issues, (12), 86-108. https://doi.org/10.32609/0042-8736-2013-12-86-108 DOI: https://doi.org/10.32609/0042-8736-2013-12-86-108
Mishkin, F. S. (2007). The economics of money, banking, and financial markets. New York, NY: Pearson education.
Moiseev, S. R. (2011). Monetary credit policy. FPA "Synergy".
Roeksiripat, K. (2016). Informal economy: Case study of street vendors in Bangkok. International Journal of Business and Administrative Studies, 2(2), 29-36. https://doi.org/10.20469/ijbas.2.10002-2 DOI: https://doi.org/10.20469/ijbas.2.10002-2
Thanasripanitchai, S. (2017). Daily activities management information system of Koglam-Sangaram Village: The self-sufficiency economy village model of Pid-Thong-Lang-Pha project. International Journal of Business and Economic Affairs, 2(1), 59-66. https://doi.org/10.24088/IJBEA-2017-21008 DOI: https://doi.org/10.24088/IJBEA-2017-21008
Tongo, P. A., Corpuz, D. B., & Caminade, L. L. 2017. Factors Affecting the Collection Efficiency of Ma-a Parish Multi-Purpose Cooperative: Basis for Policy Formulation. International Journal of Business and Economic Affairs, 2(4), 240-252. https://doi.org/10.24088/IJBEA-2017-24003 DOI: https://doi.org/10.24088/IJBEA-2017-24003
Wasike, C. N. (2017). Financial regulation as moderating, influence of corporate governance, institutional quality, human capital and firm size on financial institutions performance in Kenya. Journal of Administrative and Business Studies, 3(6), 292-304. https://doi.org/10.20474/jabs-3.6.4 DOI: https://doi.org/10.20474/jabs-3.6.4
Yoshino, N., & Alekhina, V. (2016). Impact of oil price fluctuations on an energy-exporting economy: Evidence from Russia. Journal of Administrative and Business Studies, 2(4), 156-166. https://doi.org/10.20474/jabs-2.4.2 DOI: https://doi.org/10.20474/jabs-2.4.2
Zarb, N. (2016). Stories from the middle: Perceptions of the roles of curriculum development managers in a Maltese further education organization. Journal of Advanced Research in Social Sciences and Humanities. 1(1), 18-29. https://doi.org/10.26500/JARSSH-01-2016-0103 DOI: https://doi.org/10.26500/JARSSH-01-2016-0103
Zhukov, E. F. (2007). Banks and bank operations. - M: Banks and stock exchanges.