KIMEP University

About: KIMEP University is a education organization based out in Almaty, Kazakhstan. It is known for research contribution in the topics: Corporate governance & Government. The organization has 185 authors who have published 426 publications receiving 5098 citations.

The Baltic Securities Market: Product of Economic Innovation

Abstract: This article demonstrates the primacy of economics over law in the formation of the Baltic Securities Market [BSM]. The proposition is vindicated by historical data and factual development of the BSM. Community level legislation in the financial services area accelerated in the later 1990's and the early 21st century as the European Union set an objective of creating a vibrant single market in securities. In this respect, the development of the BSM has paralleled the evolution of Community level legislation. However, the main driver of the BSM's development has been economic survival and innovation, not revision of Community or Member State legal infrastructure. In the Baltic market, the national stock exchanges do not, and never have, performed the traditional macroeconomic function of financial intermediation transferring resources from surplus economic units to deficit economic units, due to the alternative of favourable bank financing. With minor exceptions, the core activity of the BSM is the fund centre primarily dominated by Baltic and Scandinavian banks. The promotion of these products raises questions of fees and returns, and reintroduces the debate of whether payment for "professional management" is justified given the alternative of investment in passive index funds, or managed funds with comparatively low expenses ratios. The question of whether the BSM complies with recent Community Level legislation is beyond the scope of this article, and for article's purpose, irrelevant. In terms of "legal transplants", during its early development, the BSM sampled from diverse jurisdictions. With modifications, Community Level legislation is functionally equivalent to United States Securities laws as both regulatory models embrace the Efficient Capital Market Hypothesis.

Ethnic identity of kazakhstani young people in relation to language

Abstract: This paper explores the ways Kazakhstani young people define themselves ethnically. For this purpose, the survey was conducted among bachelor students of a Kazakhstani university to find out personalinformation about respondents, their linguistic competence, their religious and ethnical belonging, andtheir choice of ethnicity in case they had a chance to choose at birth. The results of the survey showedthat participants mostly refer themselves to ethnicity of their parents in ethnically homogeneous families,and to ethnicity of fathers – in ethnically mixed families. The study did not reveal any dependence ofethnical identification on place of birth, language competence and religious attachment. The goal ofthis paper is to contribute to understanding of the situation in Kazakhstan and to proper elaboration ofadequate national programs.

Household Survey Data for Research on Well-Being and Behavior in Central Asia

Abstract: This paper summarizes the micro-level survey evidence from Central Asia generated and analyzed between 1991 and 2012. We provide an exhaustive overview over all accessible individual and household-level surveys undertaken in Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan - and of all English-language academic papers published using these datasets. We argue that Central Asia is a fascinating region for the study of comparative economics given its dual experience of transition and development. However, the region is also understudied, in part due to lack of data, and especially due to a lack of panel data. We identify knowledge gaps caused from this lack of longitudinal surveys and suggest worthwhile areas for future research. Finally, we also present the new and novel individual-level panel dataset called "Life in Kyrgyzstan".

Public Service Provision in Kazakhstan: Challenges to Procedural Fairness

Abstract: Since Kazakhstan declared its independence in 1991, the organisational culture of the country’s public administration and civil service has been and still is orientated towards achieving outcomes, while citizens are viewed as consumers of public goods and services. This is also observed in government reports that confirm the focus on outcomes achieved by individual public administration agencies and the national government. This creates the perception that the administrative bodies are transparent and controlled by the citizens. Nonetheless, performance reports lack information on how outcomes have been achieved and on what happens when citizens appeal decisions. This pattern of public service delivery has been evolving into a public administration paradigm according to which the outcome is more important than the process. Such a focus creates conditions under which delivering public services could become a “box ticking” exercise, while the lack of attention to procedural fairness and transparency reduces citizens’ chances of receiving appropriate consideration of their requests. The chapter argues that the focus on outcomes and the treatment of citizens as consumers of public services effectively override the public officials’ duty to uphold procedural fairness. It further argues that the existing public administration paradigm needs to shift to ensure fairness and transparency.