Impacts of youth unemployment on the economic growth. Kazakhstan as case study
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2018
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Abstract
Youth unemployment isone of the central issues not only in Kazakhstan, but also in the whole world. It might negatively affect every aspects, dimensions and directions of our life. The present work is aimed at investigating the relationship between youth unemployment and economic growth of Kazakhstan. Real GDP rate was taken as the measure of economic growth and Okun’s law was taken as the basis of the study. Literature review on relevant topic was conducted in order to propose hypothesis. By conducting literature review, possible explanations and roots of youth unemployment were learnt. Statistical data on both youth unemployment rate and real GDP rate from 1991 till 2017 was carefully examined and tested via using Excel program. Regression analysis (Ordinary Least Squares) and correlation test were chosen as the research instruments to interpret the data. Similarly, a field survey was conducted on correlation between youth unemployment and economic development. Chi-square test was applied to draw appropriate conclusions from field survey. The results of the study, however, show that there is no significant relationship between those economic variables and our proposed hypothesis was rejected. This can be explained in terms of highly dependence of Kazakhstani economy on natural resources such as oil and gas. Despite the fact that correlation is not so high, some possible recommendations to reduce youth unemployment rate were suggested at the end of the work, since there are still thousands of young educated people who fail to get job after their graduation.
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Kadyrova A / Impacts of youth unemployment on the economic growth. Kazakhstan as case study