Elasticity of growth of Kazakhstan industries

Gulzhan Karimbayeva, Myrzabike Zhumabayeva, А. А. Мухамеджанова, М. А. Муканова

2022

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DOI 10.46914/1562-2959-2022-1-3-22-32
Data confidence 70 medium
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Abstract

The problem of structural changes in the economy is still urgent for a number of post-Soviet countries, including Kazakhstan. A country with huge reserves of resources has not yet moved away from the raw material orientation of development. The share of the manufacturing industry decreased drastic during the years of high economic growth (2000-2007). Even when the state has been providing substantial support in recent years, indicators such as labor productivity and the share of investments in the manufacturing industry have been declining. Therefore, research in the field of structural changes, from our point of view, does not lose relevance. One of the indicators of structural changes is the coefficient of elasticity of the growth of industries. The goal of the article was to analyze the elasticity of the growth of manufacturing industries in Kazakhstan from 1991 to 2020. The coefficient of elasticity of the growth of industries was calculated as the ratio of the growth of industries to the growth of industry as a whole. At the same time, the growth rate of industrial production and the growth rate of the manufacturing industry of Kazakhstan as a whole was taken into account. The category "industries with zero elasticity of growth" has also been added. Eventually, five categories are proposed. The authors have used the method of formal logic, comparative and factor analysis of indicators. In our opinion, the analysis shows changes in the relative dynamics of production growth in the manufacturing industries of Kazakhstan and could be used for further research in this area.