SHS Web Conf.
Volume 71, 2019Eurasia: Sustainable Development, Security, Cooperation – 2019
|Number of page(s)||5|
|Section||New Geopolitical Trends in Central Eurasia|
|Published online||25 November 2019|
Enhancing Export Diversification in Resource-Rich Economies – Policies and Evidence from Kazakhstan
1 University of National and World Economy, Sofia, Bulgaria
2 Korkyt Ata Kyzylorda State University, Kyzylorda, Kazakhstan
* Corresponding author: email@example.com.
Kazakhstan has managed to benefit from its considerable endowments of natural resources during the commodity price boom in the 2000s. However, the global crisis of 2008-09 has demonstrated that relying on a single sector prone to high price volatility cannot be a viable strategy for development. The government of Kazakhstan well realizes that and for already 2 decades has been pursuing various industrial policy initiatives to build a more diversified and competitive economy. The paper aims to examine how successful were those policies by applying various indicators of export diversification. The results show that progress has been very limited as the country’s export basket is highly concentrated and still dominated by oil. This suggests that Kazakhstan should ensure better implementation, coordination, monitoring and evaluation of its diversification initiatives.
© The Authors, published by EDP Sciences, 2019
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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