The Nexus Between ICT, Trade Openness, Urbanization, Natural Resources, Foreign Direct Investment and Economic Growth

Raikhan SUTBAYEVA, Daulen Abdeshov, Shynar Shodyrayeva, Altynay Maukenova, Xhelil Bekteshi, Mesut Doğan

2024

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DOI 10.18280/ijsdp.190229

Data confidence 70 medium

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Abstract

This study aimed to identify the determinants of economic growth (Y) in Kazakhstan over the period 1990-2022.In other words, the effects of urbanization (URB), natural resources (NR), trade openness (TO), foreign direct investment (FDI), and ICT variables on Y were to be determined.In the study, ARDL method and Vector Error Correction Model (VECM) were employed to determine the short and long-term effects.As a result of the analysis, it was found that URB, TO, FDI, and ICT increased Y in the short and long run.On the other hand, NR did not affect Y.The results of the VECM revealed a bilateral causality between URB, TO, FDI, ICT, and Y in the short and long run.Finally, no causality was found between NR and Y.These findings may help policymakers in realizing Kazakhstan's economic development goals.