National Economy Competitiveness of Kazakhstan Republic

Abstract

One of the criteria for the national economy growth of Kazakhstan Republic is its dynamic integration with national economies of the developed countries. Growth and merger of national companies at the macro and micro level is one of the priorities for the economy of each state including our country. Today in the Republic of Kazakhstan in the age of globalization, more than ever we need a system of complex measures in financial and trade sectors for its sustained development.

The article analyzes the situation of the competitiveness of the national economy of Kazakhstan. This research was aimed at studying the theoretical and methodological approaches for a development of competitive national economy in the context of globalization as well as developing practical recommendations for further economy development, which allowed to make several conclusions and recommendations arising from the aims and objectives set by the author. In the first part of this article, perspectives of national competitiveness are analyzed. In the second part of the article methodology of international competitiveness measurement is presented. In the third part of the article the analysis of Republic of Kazakhstan competitiveness is done. The results showed that there are many controversies in competitiveness definition and measurement. One of the examples is evolution of Kazakhstan's competitiveness in 2010 due to some activities by IMF and WEF. Though the measurements include many similar factors of competitiveness, the main competitive advantage of Kazakhstan is a huge reserve of mineral resources and stable macroeconomic situation. The main weaknesses are low innovation capability and high corruption rate.

http://dx.doi.org/10.5755/j01.ee.22.3.519