The Model of Financila Instruments Influence on the Capital Flow in Kazakhstan

Olga Valentinovna Koshkina, Parida Bakirovna Issakhova, Assiya Seydikhapbarovna Issakhova

2015

Full text Open access: Hybrid Metadata (CSL-JSON)
DOI 10.5539/res.v7n7p333
Data confidence 70 medium
How this score is calculated

It is built from checkable properties of the record itself: whether the article has a DOI, how many independent sources confirmed its data, whether the required fields are filled in, and how recent the latest confirmation is. Disagreement between sources and a missing identifier lower it. A value of 80 or above means the record was published without further checking; 60 to 79 means it is published at reduced confidence, with a manual check advisable. A record verified by an editor by hand is never pushed below 90 by a recalculation. This scores our data about the article, not the article itself.

Abstract

The article objective is the study of exchange market and stock market financial instruments influence on capital flows in Kazakhstan. For this purpose possible influence factors on capital flows in Kazakhstan were analyzed. Statistical data on capital flows in Kazakhstan over a period from 2007 to 2013 were collected. Dynamics of capitalization on Kazakhstan Stock Exchange, the amount of issues of securities and number of issuers, Kazakhstan Stock Exchange index dynamics, banks residents’ exchange transactions’ volume, currency in cash transactions, foreign exchange cash import/ export by second-tier banks, currency trade volume in Kazakhstan Stock Exchange, interbank credit and deposits in Kazakhstan, on exchange average weighted exchange rate volume were collected and analyzed. Regression analysis is carried out, conclusions and recommendations are given. Found determination coefficient of 99% confirms the hypothesis of stock market and exchange market instruments influence on capital flows in Kazakhstan. The conclusion on the interrelation of capital flows and exchange market and stock market instruments is drawn based on calculated model. The following factors were also detected: the number of issues of securities eligible for trading in Kazakhstan Stock Exchange (KASE); the number of issuers of securities eligible for trading in stock exchange; banks residents’ transactions volume; net transactions by exchange offices (foreign exchange cash); foreign exchange cash import/ export by second-tier banks.