Title: A structural approach to diversification of the emerging economy of Kazakhstan

Authors: Yelena N. Zabortseva

Addresses: Agency on Financial Regulation and Supervision of Financial Markets, 67, Aiteki Bi street, Almaty, 050000, Kazakhstan

Abstract: This paper investigates the strategic role of Kazakhstan|s development institutions in programmes for economic diversification, based on the state target of strengthening national competitiveness. The author analyses the primary challenge for the state from the long-term perspective: mechanisms for increasing the country|s competitiveness and expanding the benefits of growth, while avoiding the economic and social risks typically associated with oil wealth. Kazakhstan|s institutional approaches towards sustainable market development are examined in the paper, presenting one of the unique contemporary economic policies in achieving the national competitiveness.

Keywords: FDI; foreign direct investment; development institutions; international organisations; market efficiency; diversification; national competitiveness; economic growth; Kazakhstan; economic policy; emerging economies.

DOI: 10.1504/IJEPEE.2009.022938

International Journal of Economic Policy in Emerging Economies, 2009 Vol.2 No.1, pp.23 - 40

Published online: 04 Feb 2009 *

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