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The Impact of Oil Prices on the Macroeconomic Indicators of Kazakhstan and the Consequences for the Formation of Social Policy

Author

Listed:
  • Gulmira Moldabekova

    (Gumilyov Eurasian National University, Nur-Sultan, 010000, Kazakhstan)

  • Zhanarys Raimbekov

    (Gumilyov Eurasian National University, Nur-Sultan, 010000, Kazakhstan)

  • Arsen Tleppayev

    (Kazakh German University, Almaty, 050010, Kazakhstan,)

  • Yuliya Tyurina

    (Financial University under the Government of the Russian Federation, Moscow, 49125993, Russian Federation,)

  • Raushan Yesbergen

    (Academy of Public Administration under the President of the Republic of Kazakhstan, Aktobe, 020004, Kazakhstan,)

  • Gulimai Amaniyazova

    (Yessenov University, Aktau, 130000, Kazakhstan.)

Abstract

The article analyzes the impact of the dynamics of oil prices on the main macroeconomic indicators of the Kazakhstani economy and the consequences of the formation of national social policy. The article applies different hypotheses about the sensitivity of macroeconomic indicators of the economy of Kazakhstan to fluctuations of oil prices, and in addition, it specifies and evaluates a system of simultaneous equations that allows to test these hypotheses. Scenarios for the reaction of the Kazakhstani economy to exogenous shocks associated with a sharp change in the level of oil prices are considered, and some measures are proposed to reduce the negative consequences of fluctuations in oil prices for the Kazakhstani economy. Finally, the article discusses some of the results of understanding the challenges and realities in the field of social policy, which are generated by the model of economic growth.

Suggested Citation

  • Gulmira Moldabekova & Zhanarys Raimbekov & Arsen Tleppayev & Yuliya Tyurina & Raushan Yesbergen & Gulimai Amaniyazova, 2022. "The Impact of Oil Prices on the Macroeconomic Indicators of Kazakhstan and the Consequences for the Formation of Social Policy," International Journal of Energy Economics and Policy, Econjournals, vol. 12(4), pages 447-454, July.
    • Handle: RePEc:eco:journ2:2022-04-48
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    References listed on IDEAS

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    1. Meiramkul Saiymova & Marija Troyanskaya & Kulyash Shalgimbayeva & Zhanat Babazhanova & Roza Jumabekova, 2023. "The Vector Auto Regression Analysis of the Link between Renewable Energy Consumption and Economic Development for Turkey and Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 309-315, March.

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    More about this item

    Keywords

    Crude Oil Prices; Stock Prices; Macroeconomics; Economic Development;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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