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Institutional conditions of interaction of financial-credit and innovative economic sectors

Author

Listed:
  • Aibota Rakhmetova

    (Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan)

  • Gaukhar Kalkabayeva

    (Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan)

  • Zagira Iskakova

    (Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan)

  • Zagira Iskakova

    (Financial Academy JSC, Kazakhstan)

  • Anar Kurmanalina

    (Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan)

  • Galiya Turmakhanbetova

    (Karaganda Economic University of Kazpotrebsoyuz, Kazakhstan)

  • Galiya Turmakhanbetova

    (Financial Academy JSC, Kazakhstan)

Abstract

In this article, the authors consider one of the most important issues in the development of the Kazakhstani economy - strengthening the innovation component, capable of ensuring economic growth regardless of export revenues of the oil and gas sector of the country. According to the authors, the solution of this strategic task directly depends on the vector of state regulation, which should be characterized by integration and proportionality in ensuring more active and productive interaction of subjects of financial and credit and real (including innovation) sectors of the economy. In this regard, the authors, based on the use of a systems approach and the theory of institutionalism, carried out economic and mathematical modeling on data from a number of countries, allowing to determine the degree of influence of regulatory institutional measures on the quality of interaction between the subjects of these sectors. The obtained results allowed formulating a number of conclusions that can be a starting point in terms of improving the current regulatory system in the Republic of Kazakhstan.

Suggested Citation

  • Aibota Rakhmetova & Gaukhar Kalkabayeva & Zagira Iskakova & Zagira Iskakova & Anar Kurmanalina & Galiya Turmakhanbetova & Galiya Turmakhanbetova, 2019. "Institutional conditions of interaction of financial-credit and innovative economic sectors," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 704-713, September.
    • Handle: RePEc:ssi:jouesi:v:7:y:2019:i:1:p:704-713
    DOI: 10.9770/jesi.2019.7.1(51)
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    References listed on IDEAS

    as
    1. Anargul UAKHITZHANOVA & Roza SHOKHAN & Ainura OMAROVA & Aziza DAULETOVA & Mazken KAMENOVA & Baglan AIMURZINA, 2017. "Entrepreneurial Environment in the Current Financial Politics of Kazakhstan," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 8(4(26)), pages 1361-1364.
    2. Douglas W. Diamond, 1984. "Financial Intermediation and Delegated Monitoring," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 51(3), pages 393-414.
    3. Amable, Bruno & Chatelain, Jean-Bernard, 2001. "Can financial infrastructures foster economic development?," Journal of Development Economics, Elsevier, vol. 64(2), pages 481-498, April.
    4. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    5. repec:srs:journl:jarle:v:8:y:2017:i:4(26):p:1361-1364 is not listed on IDEAS
    6. repec:srs:journl:jarle:v:8:y:2017:i:4(26):p:1161-1166 is not listed on IDEAS
    7. Gauhar Kalkabayeva & Anar Kurmanalina & Zhanar Gusmanova, 2017. "Current State and Forecasting of the Development of Bank Crediting in Kazakhstan," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 8(4(26)), pages 1161-1166.
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    Cited by:

    1. Aibota Rakhmetova & Gaukhar Kalkabayeva & Anar Kurmanalina & Zhanar Gusmanova & Gulzira Serikova & Baglan Aimurzina, 2020. "Financial-credit and innovative economic sectors: evaluation of macroeconomic effects of regulation and interaction sectors," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 1224-1237, September.

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    More about this item

    Keywords

    financial - credit sector; real and innovative sector; system of state regulation; interaction; economic development;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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