The investments of financial institutions in real innovations: Kazakhstani practice
Kalkabayeva G. Rakhmetova A. Doskaliyeva B. Borisova E. Myltykbayeva L.
2021Mykolo Romerio Universitetas
Intellectual Economics
2021#15Issue 1104 - 115 pp.
In this paper, the authors investigate the issue of the weak role played by financial institutions in Kazakhstan in generating and introducing innovations in the real sector of the economy. In the process of preparing this paper, three methods were used: statistical comparative analysis; economic and mathematical modelling; and the graphical method. Based on analysis and modelling, the authors identified the predominantly negative tendencies of the decreasing participation of financial institutions in the financing of entities in the innovation sector. International best practice also confirms that for the full development of real innovations, bank investments alone are insufficient. Along with banking resources, there is huge investment potential for the development of the real sector, including innovation, the long-term resources of insurance companies, and a pension fund. This paper offers promising directions and recommendations for enhancing the participation of all of the major parties of the financial market of Kazakhstan in the financial support of innovations, so as to increase the competitiveness of the national economy and ensure its continued qualitative growth.
Economic growth , Intersectoral cooperation , Investment , Regulatory institutions
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Karaganda Economic University of Kazpotrebsoyuz, Karaganda, Kazakhstan
South Ural State University (National Research University), Chelyabinsk, Russian Federation
JSC Financial Academy, Nur-Sultan, Kazakhstan
Karaganda Economic University of Kazpotrebsoyuz
South Ural State University (National Research University)
JSC Financial Academy
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