Abstract
The purpose of the study - is to analyze the relationship between foreign direct investment (FDI), economic growth, inflation and the volume of international reserves in the context of the economy of Kazakhstan. The methodology - involves quantitative analysis using an econometric linear regression model to assess the impact of FDI on Kazakhstan's economic performance. Data for the analysis were taken from the World Bank's open sources for the period from 1992 to 2022. Originality/value of the research—The research contributes to the understanding of the mechanisms of international investment's impact on the economies of countries with economies in transition, using Kazakhstan as an example. A special feature of the work is a comprehensive analysis of the influence of macroeconomic factors on the investment climate, which is important for the formation of state economic policy. Findings of the Study – The results showed that international reserves have a significant positive impact on attracting FDI, while inflation did not have a statistically significant impact in this model.