National Economy Competitiveness of Kazakhstan Republic

Abstract

One of the criteria for the national economy growth of KazakhstanRepublic is its dynamic integration with national economies of thedeveloped countries. Growth and merger of national companies at themacro and micro level is one of the priorities for the economy of eachstate including our country. Today in the Republic of Kazakhstan in theage of globalization, more than ever we need a system of complexmeasures in financial and trade sectors for its sustained development.Te article analyzes the situation of the competitiveness of the nationaleconomy of Kazakhstan. This research was aimed at studying thetheoretical and methodological approaches for a development ofcompetitive national economy in the context of globalization as well asdeveloping practical recommendations for further economy development,which allowed to make several conclusions and recommendations arisingfrom the aims and objectives set by the author. In the first part ofthis article, perspectives of national competitiveness are analyzed. Inthe second part of the article methodology of internationalcompetitiveness measurement is presented. In the third part of thearticle the analysis of Republic of Kazakhstan competitiveness is done.The results showed that there are many controversies in competitivenessdefinition and measurement. One of the examples is evolution ofKazakhstan's competitiveness in 2010 due to some activities by IMF andWEF. Though the measurements include many similar factors ofcompetitiveness, the main competitive advantage of Kazakhstan is a hugereserve of mineral resources and stable macroeconomic situation. Themain weaknesses are low innovation capability and high corruption rate.