ECONOMIC Series of the Bulletin of the L N Gumilyov ENU

Macroeconomic Analysis and General Economic Equilibrium of Kazakhstan

Sh. Sarkambayeva — 2024-09-26

The paper studies general equilibrium in the economy of Kazakhstan. The IS-LM-BP curves are plotted based on corresponding regression models of the real GDP. The exogenous variables are taken for the regressions according to the theoretical propositions. The quarterly data for 2008Q1-2022Q4 published in the datasets and bulletins of the Committee for Statistics and the National Bank of the republic of Kazakhstan were used. Some consequences of the change in the exchange rate regime and in macroeconomic policy framework on macroeconomic relationships were revealed. This study demonstrates the general equilibrium state of the national economy and specifications of the curves listed above.

Current trends in transfer pricing: challenges and prospects

А. Nurgaliyeva — 2024-09-26

In today's global economic context, where more and more companies operate on a global level, transfer pricing is becoming an important tool for effective management and control of a company's profitability. Transfer pricing is the process of determining the prices of goods, services and intellectual property that are transferred or used internally by a company or its affiliates. The main research methods are literature review, empirical and comparative analysis of data reflecting current trends in the development of the issue of transfer pricing in companies. The analysis carried out showed increasing trends in transfer pricing as a result of globalization and centralization of companies. The development of transfer pricing in Kazakhstan has clear growth and improvement trends in the area of legislation and implementation of OECD practices. The proposed recommendations can significantly enhance the development of transfer pricing in Kazakhstan at the present stage.

Determinants of China’s Technological Trade Flows with Central Asian Countries (CACs): A Panel Gravity Approach

K. Yerkinbayev — 2024-09-26

The purpose of this study is to examine the determinants of Chinese technological trade flows with Central Asian countries (CAC) with a revealed comparative advantage and the gravity model using two estimation techniques. The present study employs the Ordinary Least Square (OLS) and the Poisson pseudo-maximum likelihood (PPML) on the data set from 2003 to 2018 panel dataset. Results from the Gravity model demonstrates that low-tech, medium-tech, and high-tech trade flows boost economic development in China and Central Asian nations, adversely affecting all technology trade flows in geographical distance. The research indicated that exchange rates showed a negative indication in bilateral trade, medium-tech trade, and high-tech trade. In contrast, the low technology trade showed a positive flow between China and Central Asia. Furthermore, the results reveal that openness to trade and membership of the WTO show a positive indication. The trade openness policy on both sides thus has a major beneficial effect on trade volumes. It proposed increased liberalization of trade policy and greater involvement in global commerce. In addition, Central Asia and export industries should take additional initiatives to enhance and diversify high-tech exports. A competitive international market provides perfect equality in reciprocal trade interactions.

Territorial differentiation of investment attractiveness of the industry in Aktobe region

E. Imashev — 2024-09-26

In the industrial development of the regions of Kazakhstan an important component of improving the competitiveness of enterprises and increasing industrial production is investment, which in the medium and long term determine the trends of territorial and sectoral transformation and modernization of industry with the provision of sustainable economic growth. Under the influence of various development factors, the regions of Kazakhstan are characterized by the territorial and sectoral differentiation in attracting investment in industry.

The purpose of the work is a territorial and sectoral analysis of the main factors of development of investment potential, determination of territorial differences in the investment attractiveness of industry and identification of priority territories and industries to increase investment in the industrial sector of the economy of Aktobe region.

The article presents the results of analysis of the main factors and their influence on the degree of territorial differentiation of investment attractiveness of the industries in Aktobe region. Territorial features of the distribution of investments in fixed assets of industry at the level of administrative districts were identified. Priority directions of attracting investments in the industrial sector of Aktobe region are determined taking into account the priorities of the Industrial and Innovative Development of the Republic of Kazakhstan and the Forecast of Social and Economic development of Aktobe region for 2021-2025.

The results of the conducted scientific research can be applied by the state line ministries of Kazakhstan and local state executive bodies of Aktobe region in the development of plans and/or programs for the territorial and sectoral development of industry in the region under consideration.

Current problems of using artificial intelligence in HR management in Kazakhstan

А. Bekisheva — 2024-09-26

The article provides an understanding of artificial intelligence in the field of HR, and it is said that the digitization of the industry is reflected in the widespread use of artificial intelligence. The theory and history of the field of artificial intelligence is systematized by reviewing the works of researchers. The possibilities of using artificial intelligence are clarified and its efficiency is considered. As a result of the study, it was determined that artificial intelligence is used in four main categories in the field of HR, and it was found that there is a high demand for automated resume search, analysis, and selection services. At the same time, in order to invite candidates for a vacant position, including the identification of qualified talented employees, chatbots, Skype interviews, the use of information on online recruiting platforms such as HeadHunter, notification of vacancies at fairs, and pilot projects introduced by the state will be analyzed. The features of artificial intelligence programs introduced in the Kazakhstan labor exchange, and changes brought to the HR system, the advantages and disadvantages will be discussed. Especially as the most effective programs in the field of artificial intelligence in recent years: IBM's Deep Blue program, Alvinn program for driving, and Microsoft Application and Services Group's talking robot program, the importance of research on the specificity of programs in the field of medicine and pharmaceuticals will be analyzed and considered as examples of regional enterprises.

Trends of innovative entrepreneurship development in agglomerations of Kazakhstan

Т. Bekzhanova — 2024-09-26

The article considers different approaches to the concept of "agglomeration", much attention is paid to the impact of urbanisation processes on the development of agglomerations in Kazakhstan. The main characteristics of five urban agglomerations of Kazakhstan are given. The authors analyse the changes in the population and the main indicators of innovation activity of enterprises in agglomerations.

The authors found that in the period from 2018 to 2022, the highest level of innovation activity of enterprises is observed in Karaganda agglomeration, while the lowest level is recorded in Shymkent agglomeration. The dynamics of R&D funding sources in agglomerations of Kazakhstan and the structure of R&D expenditures by funding sources for 2020-2022 are presented in graphical form.

As a result of SWOT-analysis conducted within the framework of the study, the weak and strong sides of agglomerations development in Kazakhstan are highlighted.

The article notes that agglomerations provide new opportunities for modernising social, engineering, transport infrastructures, creating conditions for the development of urban planning, ensuring economic, environmental and other security.

Analysis of the air transportation market The Republic of Kazakhstan

A. Nurlanuly — 2024-09-26

Abstract. The article provides an analysis of the current state and pressing issues of the air transportation market in the Republic of Kazakhstan. Furthermore, based on this analysis, a series of important actions aimed at addressing the identified problems are proposed. The article examines indicators, based on official statistical sources, characterizing the air transportation market, namely the 34-year dynamics of cargo and passenger traffic and turnover from 1990 to 2023. It also illustrates the dynamics of such indicators as the consumer price index for economy class airline tickets, the average revenue per ticket sold (average price per unit of ticket sold), propensity for air travel compared to other states and its projected indicator for 2030, and propensity for domestic transportation. Based on this analysis, it can be concluded that the aviation market in Kazakhstan is demonstrating dynamic development, with significant growth forecasted in the future. This opens up opportunities for capturing transit corridors in Central Asia. However, to realize this potential, it is important to minimize risks associated with issues in this market.

Keywords: air transportation market, passenger transportation, cargo transportation, air transportation, air tickets.

The impact of the Kazakhstan model of demographic transition on the development of human potential in Kazakhstan

Yu. Shokamanov — 2024-09-26

Abstract. The relationship between demography and human development is very significant and needs to be studied in terms of research. In the current situation, human potential is becoming one of the decisive factors in the socio-economic development of the country. Therefore, the purpose of the study is to analyze the impact of the demographic transition model on the development of human potential in the Republic of Kazakhstan. The analysis of the influence of "demographic waves" in the population structure, as a reflection of the demographic transition model, on the main demographic indicators, such as total fertility and mortality rates, natural population growth, as well as on the development of human potential taking into account the gender factor in the Republic of Kazakhstan.

The methodological basis for this study was statistical methods of data analysis. Index analysis methods were used to analyze the impact of "demographic waves" on the population size and age structure, total fertility and mortality rates, and to study the factors of natural growth.

The results of the analysis showed a significant impact of demographic waves in the gender and age structure of the population of Kazakhstan on the overall indicators of fertility, mortality and natural population growth. This feature of the Kazakh model of demographic transition can have a significant impact on demographic development as a whole, as well as on the human potential in the country and, accordingly, on the level and quality of life of the population as a whole.

Assessment of the impact of TSA on the standard of living of the population of Кazakhstan

G. Daulieva — 2024-09-26

Abstract. The purpose of this work is to assess the impact of targeted social assistance on the standard of living of the population based on econometric analysis. The article examines the type of targeted social assistance in the system of socio-economic protection of the population and analyzes the impact of TSA on the standard of living of the population. Targeted social assistance should help improve the situation of the poor and very poor, especially to meet food needs. Basically, targeted social assistance should be aimed at raising the incomes of poor families to a living wage. The results of the study show that targeted social assistance to low-income households has very little impact on the well-being of the population. That is, this type of assistance cannot be the main means of reducing poverty and inequality. The reason for this extremely low effect is explained by the small average monthly size of the TSA and improper observance of the principle of receiving such social assistance. The article also proves that the share of TSA in the income of poor households is very low. 50% of barriers to access to targeted social assistance have been identified -insufficient awareness of the availability of targeted social assistance for the poor, this problem is especially pronounced in rural regions.

Estimation of the impact of investment in fixed assets and employment on GDP using the Cobb-Douglas function

A. Atabayeva — 2024-09-26

The main goal of the study is to determine the degree of influence of labor and investment in fixed capital on the total volume of output in Kazakhstan. This paper uses a multiple regression analysis method based on the Cobb-Douglas production function. This function is an economic and mathematical model for analyzing production factors and their role in the economic development of the country. The results of the study made it possible to identify a positive relationship between the studied variables and establish that an increase in the studied factors leads to an increase in production output. The results of the empirical analysis showed that with a change in investment in fixed capital by 1%, the volume of production will increase on average by 0.735%. Accordingly, if the employed population changes by 1%, the volume of production will increase on average by 2.737%. The study revealed a low contribution of technological progress to the development of the manufacturing industry. Based on the results of the analysis, it was concluded that there are increasing returns to the scale of production, since the sum of the elasticity coefficients of production for capital and labor is greater than one. The high contribution rate to labor costs (2.737%) indicates that the increase in labor intensity in the manufacturing industry of Kazakhstan has a stimulating effect on the economic growth of output, and also brings positive economic benefits to output.

Structural analysis of Kazakhstan's e-commerce market participants in the B2C segment

Т. Azatbek — 2024-09-26

The article examines the current trends in the development of the e-commerce market in Kazakhstan using the example of the B2C segment. The growth of online retail trade in Kazakhstan has been exponential over the past 3-4 years, and the activity of entrepreneurs in this segment has led to the rapid formation of the necessary infrastructure aimed at meeting consumer demand. The purpose of the study conducted by the authors is to analyze the main subjects of the e-commerce market in the dynamics of their development and influence on the state of the market.

The study of agents of this market conducted by the authors using general scientific methods allowed us to identify the main trends and patterns of change in the structure of online services provided, the sale of goods via the Internet, and the improvement of payment and delivery methods. In addition, the authors focused on assessing the competitiveness of the market and identified trends in its monopolization. Despite the highly competitive nature of the e-commerce market, market pioneers have advantages that give them the opportunity to have a strong influence on the market, contributing to the emergence of potential barriers to entry in certain market segments. The results obtained allowed the authors to determine promising directions for the development of the B2C segment of the e-commerce market in Kazakhstan.

Development of the innovation ecosystem in the Republic of Kazakhstan

А. Nauryzbaeva — 2024-09-26

Significant work is currently being carried out in Kazakhstan to develop innovations and build an innovative ecosystem, create a knowledge-based economy. The creation of favorable conditions for the development of innovations, directly or indirectly, has a broad legislative basis and is provided for by various regulatory legal acts and documents of the state planning system. So, on February 26, 2021, by Decree of the President of the Republic of Kazakhstan No. 520, National Priority No. 8 was established "Building a diversified and innovative economy". Tasks to support innovation are also provided for in the National Development Plan of the Republic of Kazakhstan, the Concept of Digital Transformation, development of the information and communication technologies and cybersecurity industry for 2023-2029.

The article provides a comparative analysis of the digitalization of certain sectors of the economy of Kazakhstan, which make up their ecosystems in innovative companies, the number of innovative projects in some countries of the world over the past three years starting in 2021, the model of Western European countries for state support of this activity of an innovative company, and a ten-year experience in providing innovative grants in Kazakhstan.

Project Team Motivation Management in Agile methodology

A. Tyulkubayeva — 2024-09-26

This article discusses team motivation management within the framework of the Agile methodology, as well as analyzes the latest results of Agile status reports. Agile has gained significant popularity in modern project management due to its flexibility and adaptability, the success of Agile projects largely depends on the motivation and involvement of team members. However, maintaining a high level of motivation for project teams is a serious challenge, given the dynamic nature of agile projects. This study examines the impact of agile methodologies on the motivation of the project team, as well as the challenges of managing team motivation in a flexible environment. The methodology is based on information from qualitative and quantitative data sources to ensure a comprehensive review of the motivation of the team. Based on findings from Agile status reports and existing literature, this article offers evidence-based recommendations for project managers and organization leaders to increase the motivation of the project team. With a comprehensive understanding of the state of agile practices and motivation dynamics, organizations can effectively cope with the complexities of agile project management and develop a culture of sustainable motivation in their project teams.

An analysis of institutional mechanisms of gender equality in the field of science in the Republic of Kazakhstan

D. Kangalakova — 2024-09-26

Achieving universal gender balance, including in the field of science, is increasingly recognized as an essential condition for ensuring sustainable development of countries. Kazakhstan, which has designated building a knowledge economy as one of the priorities, is taking a set of measures to eliminate gender gaps. The purpose of this article is to analyze the development of institutions that promote gender balance in the field of science. To do this, the current state of gender parity in science and education was studied on the basis of public and statistical data, the activities of formal and informal institutions were analyzed, and a comparative analysis of the development of gender institutions in Kazakhstan and foreign countries was conducted. Despite the achievement of gender parity, there remains a stereotype in the choice of specialization by women and their underrepresentation in the management of higher education institutions. The results also show that the institutional mechanisms in the field of gender policy in the country have a number of weaknesses compared to countries that have succeeded in this area. The authors make recommendations on strengthening gender education, activating the work of institutions in promoting the gender agenda, and introducing new mechanisms for implementing this policy. The conclusions of the article can be useful for further improvement of mechanisms and institutions of gender equality, especially in science.

Evaluating ESG frameworks: A comparative analysis of global standards and their application in Kazakhstan

D. Mukhiyayeva — 2024-09-26

This article investigates the key drivers and barriers to the adoption of Environmental, Social, and Governance (ESG) principles in Kazakhstan. By conducting a thematic analysis of relevant documents, frameworks, and case studies, the study evaluates the current state of ESG practices in Kazakhstan and compares them with international standards set by S&P Global, the Asian Development Bank (ADB), and the London Stock Exchange Group (LSEG). The findings highlight significant progress in regulatory support and investor demand but also identify critical challenges such as the lack of comprehensive ESG reporting standards, limited expertise, and infrastructure constraints. To address these issues, the article proposes a strategic framework that includes the development of a Unified ESG Reporting Standard, enhancement of corporate governance structures, investment in ESG infrastructure, and leveraging of market incentives. The proposed framework aims to align Kazakhstan's ESG practices with global standards, thereby enhancing its attractiveness to sustainable investment and improving its global standing in responsible business practices. Additionally, the article identifies gaps between Kazakhstan's ESG practices and international standards and offers targeted solutions to bridge these gaps, contributing to the country's sustainable development goals and attracting increased international investment.

Tax administration of indirect taxes in the EAEU countries

G. Samarkhan — 2024-09-26

In modern conditions of economic development, the relevance of taxation issues is becoming increasingly important for the countries united in the economic union. In this context, special attention is paid to the tax administration of indirect taxes in the Eurasian Economic Union, which is an integration bloc uniting countries of similar economic interests. Indirect taxes, such as VAT and excise taxes, are an important tool for regulating finances and ensuring the stability of the budgets of the participating States. The authors identify trends in excise and VAT receipts, as well as suggest possible ways to optimize the tax system, taking into account the characteristics of each participating country. This study examines the challenges faced by tax administrations in the context of indirect taxation within the EAEU, as well as analyzes the prospects for improving this system to strengthen economic integration and sustainable development of the Union. The object of the study is value added tax and excise taxes in the customs payment system.

The significance of this study is determined by its contribution to the understanding and application of value added tax and excise taxes in the countries of the Eurasian Economic Union, as well as the introduction of new data and the possibility of using the results for future research in this area.

Analysis of the relationship between investments in fixed capital and GRP in the western region of Kazakhstan

A. Вelgibayev — 2024-09-26

In unstable geopolitical and economic conditions, scientific interest in the problem of investment is significantly increasing. The hypothesis of the scientific research is based on the assumption that the level of economic development of the region depends on the volume of investment. The purpose of the research is to identify, on the basis of correlation analysis, the relationship between investments in fixed assets and gross regional product. The article analyzes economic indicators characterizing the dynamics of investments in fixed assets and gross regional product in Aktobe, Atyrau, West Kazakhstan and Mangistau regions of the western region of Kazakhstan based on data from the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan. The correlation coefficients indicate the presence of a high correlation between the analyzed indicators. For the growth of the gross regional product and investment in fixed assets, it is necessary to intensify investment activities, influence the investment process using methods of direct and indirect government regulation. The results obtained can be used in the development of development plans, as well as in making forecasts of investment volumes and gross regional product in the western region of Kazakhstan.

Problem loans of second-tier banks in the Republic of Kazakhstan and methods of their management

К. Rakhimzhanova — 2024-09-26

The growth of problem loans in the bank's loan portfolio entails serious consequences for the bank's ability to generate profit and develop dynamically in modern conditions. Banks are faced with the task of forming and improving existing methods of regulation and management of problem loans. In this scientific publication, the authors studied the theoretical and practical conceptual foundations for the definition of problem loans, which was the purpose of the study. An economic and statistical analysis of the loan portfolio of second-tier banks of the Republic of Kazakhstan for 2020-2023, its dynamics and structure was carried out. The authors identified the regions of the country by the amount of overdue loans for the same period. Much attention was paid to the analysis and assessment of the quality of the loan portfolio of the banking sector of Kazakhstan, during which five second-tier banks with the highest NPL were identified, such as «Halyk Bank of Kazakhstan» JSC, «Kaspi Bank» JSC, «First Heartland Jusan Bank» JSC, «Bereke Bank» JSC and «Eurasian Bank» JSC. The loan portfolio of the above banks for 2020-2023 was also analyzed, loans were ranked in three groups according to the quality of loans issued and the likelihood of their non-repayment. Based on the analysis, the authors give recommendations for the recovery of the banking sector from problem loans. A high-quality and reliable analysis of the loan portfolio makes it possible to adequately assess the state of asset quality and take the necessary measures in a timely manner.

Strategies for Enhancing the Competitiveness of Tourism in the Aktobe Region through Sustainable Development

А. Ramazanova — 2024-09-26

The article is devoted to the development of comprehensive strategies to increase the competitiveness of tourism in the Aktobe region of Kazakhstan with an emphasis on sustainable development, which is becoming particularly relevant and important for the region. The study focuses on the untapped potential of the Aktobe region in the light of the progressive importance of tourism in the global economy. In this article, the authors discuss the important need to integrate sustainable practices to increase the competitiveness of tourism, taking into account current trends and the needs of tourists. They also provide examples of world experience in sustainable tourism development and their applicability in the Aktobe region. In the study, the authors pay special attention to the involvement of local communities, infrastructure development, the use of innovations, technologies, as well as marketing and educational aspects of tourism development. Based on the results of the study, a SWOT analysis is presented, which reflects the strengths, weaknesses, opportunities and threats to increase the competitiveness of tourism in the region, offering strategic recommendations for its further development.

MICE tourism product value chain

B. Taipakova — 2024-09-26

MICE tourism is a segment of the tourism industry that, due to its singularity, requires specific attention. This article offers a holistic approach to the channel of distribution of MICE tourism and targets two main objectives: the proposal of a conceptual framework that depicts all stakeholders, flows of action and possibilities of intermediation and study of the process of intermediation in order to analyze its present status and future development. To achieve our goal in this study, we used research methods - literature analysis, study of scientific publications, scientific research, and also used the construction of tables and diagrams of interaction between the main stakeholders of MICE tourism. When analyzing materials and writing this article, the following methods were used: general scientific methods of cognition (analysis, synthesis, systematization of theoretical data), system content analysis. The results observe a slow but steady process of disintermediation in which intermediaries are being bypassed in order to reduce costs. However, it also reaches the conclusion that total disintermediation is not feasible due to the high standards of quality service that the MICE market demands.

Trends in the research of sustainable tourism living labs: a bibliometric analysis

S. Nassanbekova — 2024-09-26

The primary goal of the study is to examine trends in the research of applying the living lab (LL) approach in the studies relating to sustainable tourism development.

In this paper, 796 scientific papers published between 2001 and 2022 were chosen from the Les.org aggregative database and analyzed using bibliographic parameters. For data analysis, the tools of Lens.org, VOSviewer, and Harzing’s Publish or Perish software have been used. We sorted out the data by authors, journals, authors' institutions, countries, and cited ranks. We also looked at the network of keywords and terms from abstracts and structured them into groups to find out how research is organized in this field.

LLs as methodology for co-creation user-centered open innovations in the real environment demonstrated a positive impact for sustainable development. Although still not widely utilized its potential in tourism sustainable development.

Mapping of tourist routes on the territory of the Ulytau National Park based on GIS technologies

D. Seidualin — 2024-09-26

This article discusses the Ulytau National Park with its natural features and unique attractions. The aim of the research is to create a favorable environment for the development and improvement of the tourism experience, especially through the use of innovative technologies for the discovery of historical objects.

Taking into account tourists' expectations, more efficient tourist routes have been developed to meet the needs of ecological and sustainable tourism in Ulytau.

The GIS methodology provides a useful and systematic approach to working with geographic data for decision-making, analysis, and spatial information visualization. The application of GIS maps in ecotourism enables the development of more optimal and engaging routes, improvement of infrastructure, and provision of more informative services for tourists. The analysis of the research provides recommendations for governmental and private organizations, as well as tourism agencies, on the use of GIS technologies for sustainable development in ecotourism. The developed GIS map reveals information about the park's territory, the location of objects and routes, enhancing tourists' awareness and orientation. This experience opens up new perspectives for tourists in navigation, discovery, and obtaining information about historical objects and attractions in tourism.

UNESCO intangible cultural heritage in the space of sustainable development of tourism in Kazakhstan

B. Sharapayeva — 2024-09-26

Currently, the role of cultural heritage, including intangible cultural heritage included in
the UNESCO list, is important in the formation and development of sustainable tourism. This article
analyzes the impact of elements of intangible cultural heritage on the sustainable development of
tourism in Kazakhstan. Various aspects of intangible cultural heritage are also considered in the context
of the sustainable development of tourism in the country, including the protection and preservation
of traditions, customs, crafts, language, singing and dancing arts, national culinary traditions, as well
as their role in attracting tourists. The ideas of preservation and effective use of intangible cultural
heritage for the promotion of tourism potential and the development of modern types of tourism with
the analysis of the experience of other countries are considered. The analysis of tourism development
is carried out by combining the potential of the intangible cultural heritage of Kazakhstan, included
in the UNESCO list, and programs to promote the state tourism industry, as well as the reasons why
some objects of intangible cultural heritage are not included in this list. For this purpose, the works of
foreign scientists and researchers written on the topic were studied, statistical data were analyzed and
a systematic approach was applied. As a result, according to official UNESCO data, the territories for the
preservation of intangible cultural heritage in Kazakhstan have been fully described, as well as a number
of arguments in favor of elements of cultural heritage that have not yet been included in the list and
the reasons why it has not been included in the list. Having studied the research of foreign scientists,
it was concluded that it is important to preserve the intangible cultural heritage for the sustainable
development of tourism in Kazakhstan, and new ideas and recommendations were developed