Current issues of financing research and development in Kazakhstan

Abstract

The main indicators of the science state and development in the Republic of Kazakhstan analyzed. The article examines the sources of financing for research and development work (here and after - R&D) and changes in the dynamics of R&D costs. The authors provide an overview of the sources devoted to this problem.

Reviewing the issues of R&D financing the conclusion that in Kazakhstan's modern conditions it is necessary to activate and attract private capital in the field of R&D financing with further implementation in practice has made. The state finances R&D to a greater extent free of charge, but there is a low degree of its implementation effectiveness. As far as the share of private business financial resources in R&D higher, the greater an effect of R&D returns in GDP. The return on private investments to GDP is higher due to their profit orientation, flexibility and more active participation in innovative projects. Private companies usually try to choose projects that promise high returns and turn out to be more productive. The paper presents: a correlation analysis showing the dependence of the level of gross domestic product and domestic R&D costs; a forecast of further growth in domestic R&D costs. The growth of R&D costs is an important aspect for the formation of a knowledge-based economy, as well as increasing the level of R&D costs to the level of industrialized countries.