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Convergence between Kazakhstan´s Financial System and International Standards: Overcomig Difficulties

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  • Natalya Uvarova

    (Caspian University)

Abstract

This article deals with the convergence of the Kazakh financial system with international standards in light of the new, enhanced agreement with the European Union on partnership and cooperation (January 19, 2015). Based on this research, the approaches used by the Kazakh financial system to converge with the European Union (EU) and the mechanism of implementing international standards in the national regulatory framework are determined. In practice, the study provides justification for the necessity of arranging the systematization of existing rules and regulations covering financial activity in the Republic, eliminating discrepancies between the national regulatory framework and international standards, and determining clear security guarantees for foreign investors’ financial activity in the Republic. The research results are primarily focused on the development of public finance management theory. Theories and conclusions present in the study can be used in the educational processes of economic and legal institutions and in the policymaking activity of public finance management bodies.

Suggested Citation

  • Natalya Uvarova, 2015. "Convergence between Kazakhstan´s Financial System and International Standards: Overcomig Difficulties," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 2, pages 121-129, June.
    • Handle: RePEc:cmn:journl:y:2015:i:2:p:121-129
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    References listed on IDEAS

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    1. Matej Kacaljak, 2011. "The Debt Crisis and the Means of Enforcing the Budgetary Discipline of EU Member States," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 4, pages 63-79, December.
    2. Franjo Stiblar, 2011. "The Global Crisis and the Western Balkans," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 3, pages 23-46, September.
    3. Igor Kotlan & Zuzana Machova, 2012. "World Tax Index: Methodology and Data," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 2, pages 19-33, June.
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