The trade liberalization impact on Kazakhstani economy

Abstract

Kazakhstan is a young country with one of the fastest growing economy but also it is a country with an exceptional history behind. It was important to highlight how the past affects present and even the future because Kazakhstan was an important transit point between the East and the West in the past, and now we wanted to analyze how reviving its past role would be beneficial for the future periods. This research examines impacts of trade liberalization on the economy of Kazakhstan, particularly export and import statistics within the period of 2000 to 2019. The purpose of this study is to see positive effects of liberalizing trade on export and import, and to see how having FTAs and being a part of unions affects it. For analyzing this question, we use linear regression equation, and calculate it with many different variables to make this research more complex and accurate. Our main findings are impressive because it showed us how small distance between two partner countries is important for both export and import, also justified how all figures are higher when there is a common border with a trading country. Moreover, having FTAs between countries showed significant results, which also proves that trade openness is beneficial. Some of other variables were not so significant, however, analysis of all received data showed that trade liberalization has a positive impact of economy of the country. In conclusion, this research has an interesting topic that could be analyzed further in the future.