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

Abstract

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.