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Devaluation in Kazakhstan: History, Causes, Consequences

Author

Listed:
  • M. Zholamanova
  • M. Arzayeva R. Doszhan
  • A. Turlybekova A. Kukiev

Abstract

The purpose of this research is to identify the concept of “devaluation”, to trace its history and to summarize the causes and the consequences of this phenomenon in the history of Kazakhstan. The concept of "devaluation" first appeared in European countries during the Golden Standard (a system in which the role of the equivalent of monetary units is played by a standardized amount of gold), and meant a decrease in the gold content in a unit of currency. After the abolition of the gold standard, the interpretation of this concept also changed. Now, devaluation is the process of reducing the basic price of the national currency (depreciation) against the currencies of other countries. As currencies, relative to which the comparison is made, choose a hard currency. That is, the one that is freely convertible (for it there are no restrictions on currency transactions) and has a stable rate.

Suggested Citation

  • M. Zholamanova & M. Arzayeva R. Doszhan & A. Turlybekova A. Kukiev, 2018. "Devaluation in Kazakhstan: History, Causes, Consequences," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 831-842.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:4:p:831-842
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    References listed on IDEAS

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    1. Panagiotis Chronis & George A. Zombanakis, 2016. "An Evaluation of Policies for Fiscal and External Sustainability during the Recent Greek Economic Crisis," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 32-43.
    2. Jean-Pierre Allegret & Helene Raymond & Houda Rharrabti, 2016. "The Impact of the Eurozone Crisis on European Banks Stocks Contagion or Interdependence?," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 129-148.
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    Cited by:

    1. Federico Sturzenegger, 2019. "Macri´s Macro: The meandering road to stability and growth," Working Papers 135, Universidad de San Andres, Departamento de Economia, revised Oct 2019.

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