Browsing by Author "Chagirov Dauren"

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    Expectations and Their Role in the Economy
    (Suleyman Demirel University, 2007) Chagirov Dauren
    Expectations play a fundamental role in shaping economic behavior and outcomes. Since individuals and businesses cannot predict the future with certainty, they form expectations regarding future prices, income, investment returns, and government policies. These expectations influence consumption, saving, investment, and policy effectiveness. The paper explores the economic significance of expectations through three main dimensions: consumption and expectations, investment and expectations, and the role of expectations in public policy. Theories by Milton Friedman and Franco Modigliani are discussed, emphasizing the permanent income and life-cycle hypotheses, as well as the concept of rational expectations introduced by John F. Muth. The analysis shows that economic outcomes often depend on how individuals and firms interpret and react to information about the future, highlighting that accurate and stable expectations are crucial for achieving sustainable growth and effective macroeconomic policy.
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    Financial Regulation in Kazakhstan and Government Response to the Financial Crisis in the USA
    (Suleyman Demirel University, 2007) Chagirov Dauren
    Financial institutions play a crucial role in promoting economic efficiency by transferring funds from surplus sectors to deficit sectors of the economy. In this context, effective financial regulation is essential for ensuring stability and transparency in the banking system. This paper examines the regulatory framework of Kazakhstan’s financial system and evaluates its performance during and after the financial crisis in the United States. The analysis focuses on the functions of the National Bank of Kazakhstan and the Financial Supervision Agency (AFN), which jointly oversee monetary policy, financial stability, and transparency of banking operations. Data on the growth of assets, capital, foreign loans, and loan portfolios of Kazakhstani banks indicate significant expansion prior to the global crisis, followed by a slowdown influenced by international financial turbulence. The findings suggest that while Kazakhstan’s financial regulators successfully maintained relative stability, the crisis exposed vulnerabilities related to external borrowing and overreliance on the oil sector. Overall, the research underscores the importance of continuous improvement in financial supervision and risk management in the face of global economic fluctuations.