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Structural reforms, macroeconomic policies and the future of Kazakhstan

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  • Alain Sand

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    (GATE CNRS)

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    Abstract

    This paper presents a small macroeconomic model of Kazakhstan to study the impact of various economic policies. The simulations provide insight into the role of a tight monetary policy, higher foreign direct investment, rises in nominal wages and in crude oil prices. The results obtained are in line with the economic observations and give some support to the policies chosen as priority targets by the Kazakh authorities for the forthcoming years.

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    File URL: ftp://ftp.gate.cnrs.fr/RePEc/2004/0411.pdf
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    Bibliographic Info

    Paper provided by Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure in its series Working Papers with number 0411.

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    Length: 28 pages
    Date of creation: Nov 2005
    Date of revision:
    Handle: RePEc:gat:wpaper:0411

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    Keywords: Central Asian CIS countries; Kazakhstan; Macroeconomic stabilization; Transition economies;

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    1. E. Tandberg & S. Ramamurthy, 2002. "Treasury Reform in Kazakhstan," IMF Working Papers 02/129, International Monetary Fund.
    2. Wyplosz, Charles, 2000. "Ten years of transformation - macroeconomic lessons," Policy Research Working Paper Series 2288, The World Bank.
    3. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 00/30, International Monetary Fund.
    4. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    5. Ratna Sahay & Jeromin Zettelmeyer & Eduardo Borensztein & Andrew Berg, 1999. "The Evolution of Output in Transition Economies," IMF Working Papers 99/73, International Monetary Fund.
    6. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," NBER Working Papers 7664, National Bureau of Economic Research, Inc.
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