FISCAL DECENTRALIZATION IN KAZAKHSTAN AND THE IMPACT ON ECONOMIC GROWTH
Loading...
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
SDU University
Abstract
This article proposes a method for assessing the effects of fiscal decentralization on economic development. The relationship between the proper level of fiscal decentralization and economic growth for 17 regions and cities of republican significance in Kazakhstan from 2010 to 2020 was evaluated using panel data. Panel cointegration and dynamic ordinary least squares (DOLS) results suggest that fiscal decentralization has a negative and significant impact on gross regional product. The study found that both income and expenditure decentralization have a negative impact on economic growth, and that further fiscal decentralization currently has a negative impact on gross regional product (GRP) growth. Given the premise that fiscal decentralization usually promotes local economic progress, this consistently significant and powerful result of our empirical analysis is surprising.
Description
Keywords
fiscal decentralization, economic growth, Kazakhstan, DOLS, GRP
Citation
FISCAL DECENTRALIZATION IN KAZAKHSTAN AND THE IMPACT ON ECONOMIC GROWTH / Galymzhan Zupiruly, Mansiya Zhanabay / SDU Bulletin: Social Sciences 2023/1 (62)