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Foreign Direct Investment and Economic Development: An International Perspective

Author

Listed:
  • Serikkyzy Aissara

    (School of Entrepreneurship and Innovation, Almaty Management University, Almaty, Republic of Kazakhstan)

  • Bakirbekova Aigul

    (Department of Economics, Kh. Dosmukhamedov Atyrau University, Atyrau, Republic of Kazakhstan)

  • Baktymbet Saule

    (Department of Economics and Management, Kazakh University of Technology and Business, Astana, Republic of Kazakhstan)

  • Yelshibayev Rakymzhan

    (School of Economics and Management, Narxoz University, Almaty, Republic of Kazakhstan)

  • Baktymbet Assem

    (Department of Economics and Management, Kazakh University of Technology and Business, Astana, Republic of Kazakhstan)

Abstract

The present study examines the patterns of foreign direct investment (FDI) in Kazakhstan and draws comparisons with global trends. Based on statistical data spanning from 2000 to 2022, the study reveals that the growth of FDI in Kazakhstan has exhibited greater volatility and speed compared to developed nations. However, it is strongly associated with global FDI inflows and the growth of gross domestic product (GDP). This article aims to examine the patterns and determinants influencing FDI in Kazakhstan and to juxtapose these patterns with global trends. The main approach used in the study was systematic. The article’s contribution lies in its provision of novel insights into the dynamics of FDI in Kazakhstan and its correlation with economic growth. Furthermore, the article elucidates the various factors that contribute to the expansion of FDI in Kazakhstan, while also offering suggestions for the development of public policy in this domain. The article provides a comprehensive examination of FDI patterns in Kazakhstan, comparing them to global trends and identifying the factors that influence the dynamics of FDI. Furthermore, the article offers suggestions for expanding the economic base of Kazakhstan beyond its reliance on the oil and gas industry, enhancing focus on high-tech and innovative sectors, and enhancing the institutional framework.

Suggested Citation

  • Serikkyzy Aissara & Bakirbekova Aigul & Baktymbet Saule & Yelshibayev Rakymzhan & Baktymbet Assem, 2024. "Foreign Direct Investment and Economic Development: An International Perspective," Economics, Sciendo, vol. 12(2), pages 97-111.
    • Handle: RePEc:vrs:econom:v:12:y:2024:i:2:p:97-111:n:1002
    DOI: 10.2478/eoik-2024-0012
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    References listed on IDEAS

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    1. Dhrifi, Abdelhafidh & Jaziri, Raouf & Alnahdi, Saleh, 2020. "Does foreign direct investment and environmental degradation matter for poverty? Evidence from developing countries," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 13-21.
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    More about this item

    Keywords

    diversification; public policy; entrepreneurship; finance; factors of production;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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