Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom

Kazakhstan has made substantial progress in its economic transition, and faces a potentially bright future thanks to its oil wealth. The challenge is to increase the country's competitiveness, and expand the benefits of growth, while avoiding the economic and social risks typically associated w...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Country Economic Memorandum
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCOUNTABILITY AGGREGATE DEMAND AGRICULTURE AIRPORTS AUDITING BANK LOANS BANKING SERVICES BENCHMARKING BENCHMARKS BONDS BORROWING BUDGET FORMULATION BUSINESS SERVICES CAPITAL BASE CAPITAL INVESTMENTS CAPITAL MARKETS CIVIL SERVICE COLLABORATION COMMERCIAL BANK LOANS COMPARATOR COUNTRIES COMPETITIVE ENVIRONMENT COMPETITIVENESS CONSOLIDATED SUPERVISION CONSUMERS CONTRACTORS COST BENEFIT ANALYSIS CREDIT RISK CURRENCY APPRECIATION DEBT DEBT MANAGEMENT DEPOSIT INSURANCE DEVELOPMENT PROJECTS E-GOVERNMENT ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC RESEARCH ELECTRICITY EMPLOYMENT ENGINEERS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL SECTOR FISCAL POLICIES FISCAL POLICY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS GDP GOVERNMENT INTERVENTIONS GOVERNMENT SPENDING HIGHER EDUCATION INSTITUTIONS HOUSING HUMAN CAPITAL INCOME INCOME DISTRIBUTION INDUSTRIALIZATION INSURANCE INTEREST RATES INVENTORY LABOR FORCE LABOR PRODUCTIVITY LEARNING MACROECONOMIC POLICIES MARKET LIBERALIZATION METALS MONETARY POLICIES MONETARY POLICY MONOPOLY RENTS MULTIPLIER EFFECT NATURAL RESOURCES NET SAVINGS OIL OIL SECTOR POLITICAL ECONOMY PRIVATE SECTOR PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SECTOR PUBLIC SPENDING REAL GDP REFORM PROGRAMS REGULATORY POLICY RESEARCH CENTERS RESERVE REQUIREMENTS ROADS SAVINGS SAVINGS RATIO SCIENTISTS SUSTAINABLE GROWTH TAX TELECOMMUNICATION TELECOMMUNICATION REFORM TELECOMMUNICATIONS TELECOMMUNICATIONS INFRASTRUCTURE TELECOMMUNICATIONS REFORM TELEPHONES TRANSACTION COSTS TRANSPARENCY TRANSPORT TREASURY UNIVERSAL ACCESS UTILITIES VALUE ADDED WAGES WEALTH WTO
Online Access:	http://documents.worldbank.org/curated/en/2005/06/6105635/kazakhstan-country-economic-memorandum-getting-competitive-staying-competitive-challenge-managing-kazakhstans-oil-boom http://hdl.handle.net/10986/8656

id	okr-10986-8656
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTABILITY AGGREGATE DEMAND AGRICULTURE AIRPORTS AUDITING BANK LOANS BANKING SERVICES BENCHMARKING BENCHMARKS BONDS BORROWING BUDGET FORMULATION BUSINESS SERVICES CAPITAL BASE CAPITAL INVESTMENTS CAPITAL MARKETS CIVIL SERVICE COLLABORATION COMMERCIAL BANK LOANS COMPARATOR COUNTRIES COMPETITIVE ENVIRONMENT COMPETITIVENESS CONSOLIDATED SUPERVISION CONSUMERS CONTRACTORS COST BENEFIT ANALYSIS CREDIT RISK CURRENCY APPRECIATION DEBT DEBT MANAGEMENT DEPOSIT INSURANCE DEVELOPMENT PROJECTS E-GOVERNMENT ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC RESEARCH ELECTRICITY EMPLOYMENT ENGINEERS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL SECTOR FISCAL POLICIES FISCAL POLICY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS GDP GOVERNMENT INTERVENTIONS GOVERNMENT SPENDING HIGHER EDUCATION INSTITUTIONS HOUSING HUMAN CAPITAL INCOME INCOME DISTRIBUTION INDUSTRIALIZATION INSURANCE INTEREST RATES INVENTORY LABOR FORCE LABOR PRODUCTIVITY LEARNING MACROECONOMIC POLICIES MARKET LIBERALIZATION METALS MONETARY POLICIES MONETARY POLICY MONOPOLY RENTS MULTIPLIER EFFECT NATURAL RESOURCES NET SAVINGS OIL OIL SECTOR POLITICAL ECONOMY PRIVATE SECTOR PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SECTOR PUBLIC SPENDING REAL GDP REFORM PROGRAMS REGULATORY POLICY RESEARCH CENTERS RESERVE REQUIREMENTS ROADS SAVINGS SAVINGS RATIO SCIENTISTS SUSTAINABLE GROWTH TAX TELECOMMUNICATION TELECOMMUNICATION REFORM TELECOMMUNICATIONS TELECOMMUNICATIONS INFRASTRUCTURE TELECOMMUNICATIONS REFORM TELEPHONES TRANSACTION COSTS TRANSPARENCY TRANSPORT TREASURY UNIVERSAL ACCESS UTILITIES VALUE ADDED WAGES WEALTH WTO
spellingShingle	ACCOUNTABILITY AGGREGATE DEMAND AGRICULTURE AIRPORTS AUDITING BANK LOANS BANKING SERVICES BENCHMARKING BENCHMARKS BONDS BORROWING BUDGET FORMULATION BUSINESS SERVICES CAPITAL BASE CAPITAL INVESTMENTS CAPITAL MARKETS CIVIL SERVICE COLLABORATION COMMERCIAL BANK LOANS COMPARATOR COUNTRIES COMPETITIVE ENVIRONMENT COMPETITIVENESS CONSOLIDATED SUPERVISION CONSUMERS CONTRACTORS COST BENEFIT ANALYSIS CREDIT RISK CURRENCY APPRECIATION DEBT DEBT MANAGEMENT DEPOSIT INSURANCE DEVELOPMENT PROJECTS E-GOVERNMENT ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC RESEARCH ELECTRICITY EMPLOYMENT ENGINEERS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL SECTOR FISCAL POLICIES FISCAL POLICY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS GDP GOVERNMENT INTERVENTIONS GOVERNMENT SPENDING HIGHER EDUCATION INSTITUTIONS HOUSING HUMAN CAPITAL INCOME INCOME DISTRIBUTION INDUSTRIALIZATION INSURANCE INTEREST RATES INVENTORY LABOR FORCE LABOR PRODUCTIVITY LEARNING MACROECONOMIC POLICIES MARKET LIBERALIZATION METALS MONETARY POLICIES MONETARY POLICY MONOPOLY RENTS MULTIPLIER EFFECT NATURAL RESOURCES NET SAVINGS OIL OIL SECTOR POLITICAL ECONOMY PRIVATE SECTOR PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SECTOR PUBLIC SPENDING REAL GDP REFORM PROGRAMS REGULATORY POLICY RESEARCH CENTERS RESERVE REQUIREMENTS ROADS SAVINGS SAVINGS RATIO SCIENTISTS SUSTAINABLE GROWTH TAX TELECOMMUNICATION TELECOMMUNICATION REFORM TELECOMMUNICATIONS TELECOMMUNICATIONS INFRASTRUCTURE TELECOMMUNICATIONS REFORM TELEPHONES TRANSACTION COSTS TRANSPARENCY TRANSPORT TREASURY UNIVERSAL ACCESS UTILITIES VALUE ADDED WAGES WEALTH WTO World Bank Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom
geographic_facet	Europe and Central Asia Asia Central Asia Commonwealth of Independent States Eastern Europe Kazakhstan
description	Kazakhstan has made substantial progress in its economic transition, and faces a potentially bright future thanks to its oil wealth. The challenge is to increase the country's competitiveness, and expand the benefits of growth, while avoiding the economic and social risks typically associated with oil wealth. The overarching theme of the report is how to exploit the strengths of the Kazakhstan economy in the new oil environment, while avoiding the pitfalls that oil income typically brings. The report provides benchmarks for key aspects of competitiveness in Kazakhstan vis a vis Ukraine, Russia, and the eight most recent members of the EU rather than with other rich countries. This is for two reasons: 1) Kazakhstan's strategic objectives are to level with the European Union (EU) over the long run in terms of living and production standards, and levels of productivity and income; and, 2) although oil and gas already represents a large portion of exports, it does not mean the direct impact of oil in Kazakhstan is as large as in, say, Saudi Arabia or Venezuela. The policy agenda needs to formulate detailed policies and public investments. In this regard, interventions in six broad areas must be developed and prioritized. The six areas discussed entail economic policy, human capital development, infrastructure development, institutional framework, sectoral policies, and, research and development and innovation. Among the recommendations it is suggested that permanent gains in competitiveness will only be made if the county better pursues a strengthened human capital base. Moreover, competitiveness may be increased in the short and medium term if the economic cost of linking suppliers and consumers within global markets is reduced, and prudent macroeconomic policies are in place.
format	Economic & Sector Work :: Country Economic Memorandum
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom
title_short	Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom
title_full	Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom
title_fullStr	Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom
title_full_unstemmed	Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom
title_sort	kazakhstan : country economic memorandum, getting competitive, staying competitive, the challenge of managing kazakhstan's oil boom
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/06/6105635/kazakhstan-country-economic-memorandum-getting-competitive-staying-competitive-challenge-managing-kazakhstans-oil-boom http://hdl.handle.net/10986/8656
_version_	1764405178264453120
spelling	okr-10986-86562021-04-23T14:02:39Z Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom World Bank ACCOUNTABILITY AGGREGATE DEMAND AGRICULTURE AIRPORTS AUDITING BANK LOANS BANKING SERVICES BENCHMARKING BENCHMARKS BONDS BORROWING BUDGET FORMULATION BUSINESS SERVICES CAPITAL BASE CAPITAL INVESTMENTS CAPITAL MARKETS CIVIL SERVICE COLLABORATION COMMERCIAL BANK LOANS COMPARATOR COUNTRIES COMPETITIVE ENVIRONMENT COMPETITIVENESS CONSOLIDATED SUPERVISION CONSUMERS CONTRACTORS COST BENEFIT ANALYSIS CREDIT RISK CURRENCY APPRECIATION DEBT DEBT MANAGEMENT DEPOSIT INSURANCE DEVELOPMENT PROJECTS E-GOVERNMENT ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC RESEARCH ELECTRICITY EMPLOYMENT ENGINEERS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTS EXTERNALITIES FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL SECTOR FISCAL POLICIES FISCAL POLICY FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS GDP GOVERNMENT INTERVENTIONS GOVERNMENT SPENDING HIGHER EDUCATION INSTITUTIONS HOUSING HUMAN CAPITAL INCOME INCOME DISTRIBUTION INDUSTRIALIZATION INSURANCE INTEREST RATES INVENTORY LABOR FORCE LABOR PRODUCTIVITY LEARNING MACROECONOMIC POLICIES MARKET LIBERALIZATION METALS MONETARY POLICIES MONETARY POLICY MONOPOLY RENTS MULTIPLIER EFFECT NATURAL RESOURCES NET SAVINGS OIL OIL SECTOR POLITICAL ECONOMY PRIVATE SECTOR PROVISIONS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SECTOR PUBLIC SPENDING REAL GDP REFORM PROGRAMS REGULATORY POLICY RESEARCH CENTERS RESERVE REQUIREMENTS ROADS SAVINGS SAVINGS RATIO SCIENTISTS SUSTAINABLE GROWTH TAX TELECOMMUNICATION TELECOMMUNICATION REFORM TELECOMMUNICATIONS TELECOMMUNICATIONS INFRASTRUCTURE TELECOMMUNICATIONS REFORM TELEPHONES TRANSACTION COSTS TRANSPARENCY TRANSPORT TREASURY UNIVERSAL ACCESS UTILITIES VALUE ADDED WAGES WEALTH WTO Kazakhstan has made substantial progress in its economic transition, and faces a potentially bright future thanks to its oil wealth. The challenge is to increase the country's competitiveness, and expand the benefits of growth, while avoiding the economic and social risks typically associated with oil wealth. The overarching theme of the report is how to exploit the strengths of the Kazakhstan economy in the new oil environment, while avoiding the pitfalls that oil income typically brings. The report provides benchmarks for key aspects of competitiveness in Kazakhstan vis a vis Ukraine, Russia, and the eight most recent members of the EU rather than with other rich countries. This is for two reasons: 1) Kazakhstan's strategic objectives are to level with the European Union (EU) over the long run in terms of living and production standards, and levels of productivity and income; and, 2) although oil and gas already represents a large portion of exports, it does not mean the direct impact of oil in Kazakhstan is as large as in, say, Saudi Arabia or Venezuela. The policy agenda needs to formulate detailed policies and public investments. In this regard, interventions in six broad areas must be developed and prioritized. The six areas discussed entail economic policy, human capital development, infrastructure development, institutional framework, sectoral policies, and, research and development and innovation. Among the recommendations it is suggested that permanent gains in competitiveness will only be made if the county better pursues a strengthened human capital base. Moreover, competitiveness may be increased in the short and medium term if the economic cost of linking suppliers and consumers within global markets is reduced, and prudent macroeconomic policies are in place. 2012-06-21T16:22:35Z 2012-06-21T16:22:35Z 2005-06 http://documents.worldbank.org/curated/en/2005/06/6105635/kazakhstan-country-economic-memorandum-getting-competitive-staying-competitive-challenge-managing-kazakhstans-oil-boom http://hdl.handle.net/10986/8656 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Europe and Central Asia Asia Central Asia Commonwealth of Independent States Eastern Europe Kazakhstan

Kazakhstan : Country Economic Memorandum, Getting Competitive, Staying Competitive, The Challenge of Managing Kazakhstan's Oil Boom

Similar Items