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Impact of Green Fiscal Policy on Investment Efficiency of Renewable Energy Enterprises in Kazakhstan

Author

Listed:
  • Ainur Mazina

    (Karaganda Buketov University, Karaganda, Kazakhstan)

  • Dinara Syzdykova

    (Karaganda Buketov University, Karaganda, Kazakhstan)

  • Ainur Myrzhykbayeva

    (Karaganda Buketov University, Karaganda, Kazakhstan)

  • Gulnur Raikhanova

    (Karaganda Buketov University, Karaganda, Kazakhstan)

  • Aliya Nurgaliyeva

    (Narxoz University, Almaty, Kazakhstan)

Abstract

Years of industrialization and reliance on energies such as oil and coal have resulted in global pollution on an unprecedented scale. Carbon footprint, destruction of forests, melting away of ice caps in the North Pole, and climate change have persuaded many to adopt a more sustainable growth. In the wake of this catastrophe, green energy is a phenomenon that takes a step toward sustained development. Green energy consists of innovative and cost-effective ways to address the global consciousness by switching to renewable energy, water resources management, waste reduction, etc. Green Fiscal Policy aims to align prices and mobilize resources for climate change and sustainable development. Many developed and developing countries like Kazakhstan are taking the initiative towards zero carbon emission and renewable energy. The challenges of implementing the required policies include overcoming the barriers of the status quo to establish a new Geo-political and economic system in Kazakhstan. Political and economic challenges persist despite its vision for 2050 that Green Economy influences. This report focuses on Kazakhstan's natural resources, topography, and renewable energy enterprises. The Green Fiscal Policy is closely examined over Kazakhstan's current investment efficiency scenario.

Suggested Citation

  • Ainur Mazina & Dinara Syzdykova & Ainur Myrzhykbayeva & Gulnur Raikhanova & Aliya Nurgaliyeva, 2022. "Impact of Green Fiscal Policy on Investment Efficiency of Renewable Energy Enterprises in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(5), pages 491-497, September.
    • Handle: RePEc:eco:journ2:2022-05-55
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    References listed on IDEAS

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    1. Janusz Grabara & Arsen Tleppayev & Malika Dabylova & Leonardus W. W. Mihardjo & Zdzisława Dacko-Pikiewicz, 2021. "Empirical Research on the Relationship amongst Renewable Energy Consumption, Economic Growth and Foreign Direct Investment in Kazakhstan and Uzbekistan," Energies, MDPI, vol. 14(2), pages 1-18, January.
    2. Aizada Zhakupova & Lambekova Aigerim & Syzdykova Elmira & Syzdykova Dinara & Zhanseitov Azamat, 2021. "Impact of the Adopted Financial Processes for Carrying Out Green Energy Projects in Georgia," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 57-61.
    3. Aibek Soltangazinov & Zubirash Smagulova & Maral Amirova & Lyudmila Kashuk & Madina Karimbergenova & Akmaral Kadyrova & Olga Zhaltyrova, 2020. "Energy Efficiency as a Factor of Sustainable Development in Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 325-330.
    4. Azhgaliyeva, Dina & Beirne, John & Mishra, Ranjeeta, 2021. "What Matters for Private Investment Financing in Renewable Energy Globally and in Asia?," ADBI Working Papers 1246, Asian Development Bank Institute.
    5. Gulmira Azretbergenova & Aziza Syzdykova, 2020. "The Dependence of the Kazakhstan Economy on the Oil Sector and the Importance of Export Diversification," International Journal of Energy Economics and Policy, Econjournals, vol. 10(6), pages 157-163.
    6. Gulsara Dyussembekova & Gulmira Bayandina & Dilnara Zakirova & Rysty Sartova & Marzhan Kalmenova, 2019. "The Electric Energy Sector of Kazakhstan: State and Vision for the Country Taking into Account the International Trends," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 179-186.
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    Cited by:

    1. Lavisa Tala, 2024. "Economic Growth Effects of Fiscal Policy in South Africa: Empirical Evidence from Personal Income Tax," International Journal of Economics and Financial Issues, Econjournals, vol. 14(3), pages 1-11, May.
    2. Saulesh Minazhova & Ruslan Akhambayev & Timur Shalabayev & Amangeldy Bekbayev & Bolat Kozhageldi & Manuela Tvaronavičienė, 2023. "A Review on Solar Energy Policy and Current Status: Top 5 Countries and Kazakhstan," Energies, MDPI, vol. 16(11), pages 1-16, May.
    3. Han Yan & Md. Qamruzzaman & Sylvia Kor, 2023. "Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion," Sustainability, MDPI, vol. 15(18), pages 1-25, September.

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    More about this item

    Keywords

    Green Fiscal Policy; Renewable Energy Investment; Kazakhstan;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D25 - Microeconomics - - Production and Organizations - - - Intertemporal Firm Choice: Investment, Capacity, and Financing
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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