Contradictions of the institutional and economic environment of the development of new market countries: the experience of Kazakhstan

The current cyclical transition, complicated by the COVID–19 pandemic, has revealed weak links in the economies of many countries, caused by systemic contradictions accumulated over 30 years. Kazakhstan, as a country that has been building market relations only since the end of the 20th century, found itself in the grip of not only economic and political, but also institutional costs. One of the problems hindering the economic development of the nation is the contradictions between the political ambitions of the authorities and the real results of the implementation ofstate programs, the loss of public trust. The purpose of the study isto assessthe quality of economic growth in Kazakhstan. An attempt is made to provide an analysis of the institutional and economic environment and an econometric assessment of the real indicators of the country's development. The methodological basis was the scientific heritage in this area and new theoretical and methodological approaches of modern scientists in the study of issues of socio-economic development. The object of the research is economic development of Kazakhstan. Research results: based on the historical and logical analysis of theoretical and methodological approaches to the study of economic development and the constructed regression model of panel data, it is shown that an increase in the level of indicators selected in official statistics has a small effect on economic growth, that is, there is a discrepancy between the target indicators of state programs and actual results. Revealed the institutional features of Kazakhstan's development model that cause economic lag.

1. Kuznets S. National Income: Summary of Finding. The annals of the American Academy of Political and Social Science, 1946, no. 250(1).

2. Balobanov A.E., Golubev S.V. Kachestvo zhizni-klyuchevoy parametr sovremennoy strategii mirovogo goroda [Quality of life is a key parameter of the modern strategy of the world city]. Doklady uchastnikov yubileynogo X Obshcherossiyskogo foruma liderov strategicheskogo planirovaniya (17-18 oktyabrya 2011 g, Sankt-Peterburg). [Reports of the participants of the jubilee X All-Russian Forum of Strategic Planning Leaders (October 17-18, 2011y, St. Petersburg)], 2011. [in Russian].

3. Smith A. An Inquiry into the Nature and Causes of the Wealth of Nations. Moscow: Eksmo, 2007.

4. Marx K. Capital: a critique of political economy. Moscow: Eksmo, 2017.

5. Lewis A.W. Theory of Economic Growth. Routledge library editions, 2013.

6. Schultz T.W. Investment in Human Capital. The Role of Education and of Research. New York: The Free Press, 1971.

7. De Soto H. Why capitalism triumphs in the West and is defeated in the rest of the world. Moscow: CJSC “Olymp-Business”, 2004. 94 p.

8. Nelson R., Winter S. Evolutionary theory of economic changes. Moscow, 2002. 513 p.

9. Stiglitz J. Public Sector Economy. Moscow: Infra-M. 1997.

10. Todaro M. Economic development. Moscow: Nauka, 1997. 737 p.

11. Happiness Index: Experts Checked the Well-Being of Kazakhstanis. URL: https://inbusiness.kz/ru/news/indeks-schastya-eksperty-proverili-samochuvstvie-kazahstancev.

12. Banerjee A., Duflo E. Poor economy. Radically rethinking ways to tackle global poverty. URL: https://www.getabstract.com/ru

13. Official website of the World Bank https://data.worldbank.org/

14. Official website of Statistics Committee of the Ministry of National Economy of the Republic of Kazakhstan https://stat.gov.kz/.

15. Official website of International Energy Agency https://www.iea.org/areas-of-work/global-engagement

16. Official website of National Bank of Kazakhstan https://nationalbank.kz/ru?switch=russian

17. The economy of Kazakhstan may return to the indicators of the times of the collapse of the USSR. Study. URL: https://informburo.kz/stati/ekonomika-kazahstana-mozhet-vernutsya-k pokazatelyam-vremyonrazvala-sssr-issledovanie.html.