Browsing by Author "Bekzhan Tolybay"

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    FISCAL DECENTRALIZATION: A REVIEW OFINTERGOVERNMENTAL RELATIONS IN KAZAKHSTAN
    (SDU Journal of Media Studies, 2025) Bekzhan Tolybay
    Fiscal decentralization has become one of the most important reforms for countries with transitional economies, facilitating effective resource allocation and local decision-making. Kazakhstan has implemented decentralization reforms as part of its economic policies to strengthen the prosperity of regional economies. This dissertation provides a comprehensive review of fiscal decentralization in Kazakhstan, analyzing the evolution, challenges, and prospects of intergovernmental relations in light of the recent reform that started in 2020, which involves delivering SME corporate tax revenue to local budgets
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    Time Inconsistency, Inflation Expectation and Economic Growth: Application of Game Theory
    (SDU University, 2020) Assem Urazova; Bekzhan Tolybay; Hayot Berk Saydaliev
    Economic agents need the solving for decision problems occurred in the result of the impact of the decision of certain rational agent on the other agent’s reward. This is what classical game theory does. The inflation in terms of classical game theory has been suggested and analyzed. That’s why the main idea of this paper is to examine the classical Barro-Gordon game model for inflation. It gives us the clear picture of inflation expectations and time inconsistency problems in the field of macroeconomics. Time inconsistency occurs when the weak policymakers are intended to realize the high inflation rate, when the society expects for the low one. As the result, public or society decides to punish those weak policymakers. Accordingly, we are going to consider how the public’s expectations for a low inflation rate can lead to the Nash equilibrium for the time inflation in the Barro-Gordon model, which will resolve the problem of this game.