2023-09-28 14:46:10 +00:00
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abstract: 'The financial sector is one of the most, if not the most significant
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economic sector in modern societies. In advanced countries, it employs
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more people than major manufacturing industries combined and accounts
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for a high percentage of the Gross Domestic Product. But the financial
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services sector also plays a large indirect role in national economies.
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The financial sector mobilizes savings and allocates credit across space
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and time, and enables firms and households to cope with uncertainties by
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hedging, pooling, sharing and pricing risks. This ultimately improves
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the quantity and quality of real investments and increases income per
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capita and raises standards of living. Today financial institutions are
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experiencing unprecedented change in a competitive global environment.
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The existing model of the financial system of Kazakhstan requires
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modernization in order to increase the possibilities to finance
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strategically important areas in the economy and society. In turn, the
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state should change its policy of active financing to the policy of
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active stimulation.
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The purpose of writing this article and making research was to justify a
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model of an investment and financial system with a financial center,
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capable for the formation of a knowledge-based economy and the creation
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of an infrastructure of intellectual modernization of society. We
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highlighted the existing conceptual approaches to the financial support
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of a knowledge-based economy and social and intellectual modernization
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of society in the article. The analysis of the banking and insurance
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sectors of the economy, the insurance market and the stock market was
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carried out, and the positive aspects and advantages of creating a
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financial center - AIFC were highlighted. In addition, the work revealed
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the peculiarities of the participation of the financial system of
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Kazakhstan in the development of knowledge-intensive sectors of the
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economy and the intellectual renewal of society, and also highlighted
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the factors and conditions for restarting the financial system of
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Kazakhstan and determining the model of investment and financial system.
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The world experience in the use of tools and methods for financing
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high-tech industries has been studied, which made it possible to
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determine the general principles for financing a knowledge-intensive
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economy.'
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affiliation: 'Nurymova, S (Corresponding Author), Minist Educ \& Sci Republ Kazakhstan,
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Inst Econ, Comm Sci, Astana, Kazakhstan.
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Nurymova, S.; Yessentay, A.; Khalitova, M.; Jumabayev, Y., Minist Educ \& Sci Republ
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Kazakhstan, Inst Econ, Comm Sci, Astana, Kazakhstan.
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Zainal, Mohd-Pisal, Univ Reading, Gelang Patah, Malaysia.'
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author: Nurymova, S. and Yessentay, A. and Khalitova, M. and Jumabayev, Y. and Zainal,
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Mohd-Pisal
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author-email: 'nurymova\_saule@mail.r
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aigera588@mail.ru
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madinakhalidi@mail.ru
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y.dzhumabaev@gmail.com
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m.zainal@reading.ac.uk'
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author_list:
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- family: Nurymova
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given: S.
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- family: Yessentay
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given: A.
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- family: Khalitova
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given: M.
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- family: Jumabayev
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given: Y.
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- family: Zainal
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given: Mohd-Pisal
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da: '2023-09-28'
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doi: 10.32014/2019.2518-1467.16
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eissn: 2518-1467
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files: []
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issn: 1991-3494
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journal: 'BULLETIN OF THE NATIONAL ACADEMY OF SCIENCES OF THE REPUBLIC OF
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KAZAKHSTAN'
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keywords: 'Kazakhstan; Knowledge-based economy; Economy; Intellectual and Spiritual
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modernization; Knowledge-intensive industry; Financing'
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language: English
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month: JAN-FEB
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number: '1'
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number-of-cited-references: '4'
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orcid-numbers: 'Khalitova, Madina/0000-0001-9564-5503
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Nurymova, Saule/0000-0003-0085-0884
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'
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pages: 130-144
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papis_id: 337237b05294ccc978ebb709c5cbb509
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ref: Nurymova2019kazakhstanifinancial
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researcherid-numbers: 'Khalitova, Madina/AAG-7026-2021
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Nurymova, Saule/AAP-4905-2020
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Zainal, Mohd Pisal/AHE-7987-2022'
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times-cited: '2'
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title: KAZAKHSTANI FINANCIAL SECTOR PERFORMANCE FEATURES UNDER CURRENT CONDITIONS
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000458981500016
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usage-count-last-180-days: '0'
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usage-count-since-2013: '5'
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web-of-science-categories: Multidisciplinary Sciences
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year: '2019'
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