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Author: Mesut Yılmaz × search.filters.applied.f.dc.language.iso: en ×

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    ItemOpen Access
    Macroeconomic Effects of Capital Flows: Kazakhstan Case
    (Suleyman Demirel University, 2007) Mesut Yılmaz
    This article examines the macroeconomic effects of capital flows, with a particular focus on Kazakhstan. The study first explains different definitions of capital flows as movements of international funds across borders, including foreign direct investment and short-term capital. It highlights that opening the capital account requires certain economic preconditions, such as stable inflation, disciplined fiscal policy, and strong financial institutions. The article reviews theoretical perspectives on how capital inflows affect key macroeconomic variables, including inflation, investment, exchange rates, and the current account balance. Depending on the exchange rate regime, capital inflows may lead to real exchange rate appreciation and expansion in domestic demand. The paper also discusses the policy dilemma known as the “impossible trinity,” where a country cannot maintain free capital movement, fixed exchange rates, and an independent monetary policy simultaneously. Using data from Kazakhstan, the article shows that foreign direct investment has played a significant role in supporting economic growth and external stability.
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    Turkish Model and Cooperation Possibilities for Creating Added Value in Kazakh Gold Production
    (Suleyman Demirel University, 2008) Metin Duyar; Mesut Yılmaz
    This article analyzes the potential for cooperation between Kazakhstan’s gold industry and Turkey’s advanced jewelry and gem sector. Kazakhstan possesses significant gold reserves and mining capacity, yet limited processing and trade infrastructure have restricted its ability to create added value. In contrast, Turkey’s jewelry industry demonstrates high production efficiency, modern technology, and a strong export network. The authors propose that collaboration between the two countries could increase gold processing capacity, strengthen trade, and generate employment while integrating Kazakhstan more effectively into the global gold market. The study highlights Turkey’s experience in refining, branding, and marketing gold as a model for Kazakhstan’s industrial development. Enhancing mutual cooperation in technology transfer, training, and investment would support sustainable growth and raise the economic value of Kazakhstan’s gold resources.