ACTIVATION OF KAZAKHSTAN'S STOCK MARKET ON THE BACK OF THE INEFFECTIVENESS OF ITS BANKING SECTOR
Abstract
In the face of a decline in the efficiency of banking sector, a stock market can be a key source of business financing and the driver of economic growth in the Republic of Kazakhstan at current stage. Nevertheless, banks are at the same time the main participants of the stock market. The article discusses some of the internal indicators of the banking segment, which adversely affect the real economy and the financial market, such as the increase in problem loans. Definitely, the deeper financial relations are, the smaller the index of non-performing loans (NPL) is. Also, imbalances in lending to the Kazakhstan economy increase potential inflation, etc. We analyzed the tightness of the relationship between rising inflation and increasing money supply, as well as money supply and consumer price index through the correlation. In the article, we present how the stock market develops and activates in context of liberalization and stimulation of its main participants, on the back of the banking sector destabilization.
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