Assessment of the relationship between inequality, income and economic growth in the regions of Kazakhstan

Turkebayeva K. Bekturganova M. Sabden O. Dauliyeva G. Kenzhegulova G.
2022 LLC CPC Business Perspectives

Problems and Perspectives in Management
2022 #20 Issue 2 511 - 521 pp.

This paper aims to analyze various indicators to explain the impact of inequality and income on economic growth at the regional level of Kazakhstan. The data collected from the Bureau of National Statistics from 1995 to 2020 examined the impact of country, interregional, and market inequality indices and real income/wage on the GRP of different regions. Applying the methods such as analysis of unique statistical data covering 16 regions of Kazakhstan and log-linear multivariate regression analysis, which was carried out using the STATA software package, evidence was provided on the influence of interregional, country inequality, and income on economic growth. The analysis showed the differential impact of inequality and income. It was found at the first stage that the gap between interregional inequality and country inequality is insignificant. It was identified at the second stage that in models with real incomes, an increase in income has a negative impact on the development of the economy of Kazakhstan. All the models obtained are consistent and have (although not very high) significant explanatory power and confirm the relationship between inequality and economic growth. The findings can help policymakers, regionalists, economists, and governmental bodies understand the importance of income inequality and which areas can contribute to the formation of effective regional policy.

economic growth , Gini index , inequality , Kazakhstan , region , regional policy

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Satbayev University, Kazakhstan
the Department of Globalization and International Cooperation, Institute of Economics CS MES RK, Al-Farabi Kazakh National University, Kazakhstan
Institute of Economics CS MES, RK, Kazakhstan
the Department of Economics, Al-Farabi Kazakh National University, Kazakhstan
NARXOZ University, Kazakhstan

Satbayev University
the Department of Globalization and International Cooperation
Institute of Economics CS MES
the Department of Economics
NARXOZ University

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