Analysis of the Impact of Foreign Trade and Foreign Direct Investment on Kazakhstan’s Economic Growth

Gülnur Sultankhanova, Z. B. Abdulla

2022

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DOI 10.51176/1997-9967-2022-4-185-200
Data confidence 70 medium
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Abstract

Identification of relationships between macroeconomic indicators is essential in economic growth. Because in order to create effective economic solutions in a market economy, it is necessary to be able to evaluate them using mathematical statistics and other applied mathematical methods. As a result of the literature review, various points of view on the relationship between macroeconomic indicators showed the absence of a single general opinion in the literature. The article conducted a study to identify the relationship between macroeconomic indicators and applied the methods of correlation and regression analysis to identify quantitative relationships between indicators. The purpose of the study is to identify the relationship between economic indicators and assess the impact of foreign trade and foreign direct investment on the gross domestic product of Kazakhstan. In the course of the study, the relationship between exports, imports, foreign trade and foreign direct investment and gross domestic product was determined by the correlation method, and to determine the relationship of these economic indicators with the gross domestic product, the multivariate regression method was used. As a result of the study, it was found that exports affect the change in the gross domestic product of Kazakhstan at a higher level than the indicators of foreign trade and imports, foreign direct investment has a negative impact on the gross domestic product. The result of the regression analysis on the ratio of exports, imports, foreign trade, and foreign direct investment to gross domestic product was 0.96%. This shows the practical significance of the formed regression model.