The impact of inflationary processes on the socio-economic development of Kazakhstan
Keywords:
inflation, correlation and regression analysis, statistical significance, correlation matrix and data matrix, price index, socio-economic developmentAbstract
In this paper, the issues of the influence of inflationary processes on the socio-economic development of Kazakhstan are considered. As a result of the study, interesting results were obtained.
In particular, frequently cited and used price indices: for consumer goods, foodstuffs, etc.; in fact, they do not have a significant impact on the socio-economic development of the state. As a result of the study, significant relationships were established between the socio-economic development of Kazakhstan and two inflation indices: the price index for imported products and the price index for construction.
Per capita income, unemployment rate, GDP, foreign direct investment, export and import volumes, budget deficits at various levels, and other criteria are related to the prices of imported products. For the most part, these relationships are statistically significant and negative. For example, the part of the per capita income dispersion explained by the price index for imported products was 49%. Measures taken by the state aimed at import substitution have not yet given the desired result. The same nature of relations, without any special differences, has developed between the price index in construction and the criteria for the country's economic development.
In our opinion, a new paradigm of managing inflationary processes is required.
