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Structural reforms, macroeconomic policies and the future of Kazakhstan

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  • Alain Sand

    (GATE CNRS)

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.

Suggested Citation

  • Alain Sand, 2005. "Structural reforms, macroeconomic policies and the future of Kazakhstan," Working Papers 0411, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    • Handle: RePEc:gat:wpaper:0411
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    File URL: ftp://ftp.gate.cnrs.fr/RePEc/2004/0411.pdf
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    References listed on IDEAS

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    1. Mr. Stanley Fischer & Ms. Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 2000/030, International Monetary Fund.
    2. Ms. Ratna Sahay & Mr. Jeromin Zettelmeyer & Mr. Eduardo Borensztein & Mr. Andrew Berg, 1999. "The Evolution of Output in Transition Economies: Explaining the Differences," IMF Working Papers 1999/073, International Monetary Fund.
    3. 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.
    4. Mr. Eivind Tandberg & S. Ramamurthy, 2002. "Treasury Reform in Kazakhstan: Lessons for Other Countries," IMF Working Papers 2002/129, International Monetary Fund.
    5. Wyplosz, Charles, 2000. "Ten Years of Transformation: Macroeconomic Lessons," CEPR Discussion Papers 2254, C.E.P.R. Discussion Papers.
    6. International Monetary Fund, 2003. "Republic of Kazakhstan: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2003/211, International Monetary Fund.
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    Keywords

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    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects

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