Globalization of the economy and its impact on the financial policy of Kazakhstan
ekonomikos globalizacija ir jos poveikis Kazachstano finansų politikai
Sholpanbaeva K.G. Apysheva A.A. Shaikhanova N.K. Alimbetov U.S. Egenberdieva S.K.
2021Mykolo Romerio Universitetas
Public Policy and Administration
2021#20Issue 4384 - 397 pp.
This paper is aimed at studying the impact of economic globalization on the financial policy of Kazakhstan. The relevance of this study is conditioned by the problems of implementing financial policy for the modern economy of Kazakhstan, the underdevelopment of the financial and banking systems, and the low level of monetization (45%, with a threshold for food security at 75%). This study uses the methods of analysis, synthesis, and analogy, which allow for a comprehensive study of the models of financial market regulation. Using the comparative research method, the regulation of the research object in the national system of Kazakhstan, in other countries of the region, and at the international level is compared. This paper presents the main trends in the functioning of financial systems at the international, regional, and national levels. The integration of the banking sector is classified according to the degree of development of integration processes in the financial sphere. These processes include: offensive credit integration; protective financial integration; preparatory (pre-integration); and disintegration. This study reveals that Kazakhstan is making attempts to introduce the conceptual provisions of Asian neo-industrial countries both to modernize the national economy and the financial sphere and to actively engage in regional and world financial markets and flows. It is determined that a consolidated (integrated) model of financial market regulation functions in Kazakhstan, and its advantages and disadvantages are noted. The study of the features of the financial market regulation models in other countries under the influence of globalization trends makes it possible to determine measures to improve the financial market regulation of Kazakhstan.
Economic globalisation , Financial globalisation , Financial globalism , Financial system , Global economy
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