Abstract
Purpose is to show that the current model of economic development used in the CIS countries is not effective. Therefore, a new economic model, free from the shortcomings of the current model, should replace it. Methodology: As a method of research a method of analysis of existing regularities inherent in a particular economic model is used. Key parameters of this model were identified by using of synthesis method. Results: The paper shows main features of the economic model used both in Kazakhstan and some other CIS countries, which leads to low efficiency and high instabilities of their economies. Practical implications: Results of this study can be used to improve the management of the economy not only in Kazakhstan but also in other CIS countries, as in these countries are in general used identical economic model.