What impact has currency devaluation of 2014 had on Kazakhstan's economy?
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- Title
- What impact has currency devaluation of 2014 had on Kazakhstan's economy?
- Creator
- Diana Taniyeva
- Supervisor
- Dr Bhavini Desai.
- Date
- 2016
- Abstract
- In 2014, Kazakhstan experienced currency devaluation and the value of its currency significantly dropped by 19%. There were many different factors that led to such dramatic changes, one of them being a decline in the global prices of commodities. This currency devaluation resulted in some internal instability in the country. The main aim of this study is an investigation of the impact of currency devaluation on the economy of Kazakhstan through the analysis of macroeconomic factors. In order to generate this research, appropriate academic literature was studied. Furthermore, regression analysis was conducted in order to measure the relationship between the currency rate and economic variables such as export, import, GDP and unemployment rate. All of them represented the macroeconomic condition of the country. Each relationship between currency rate and macroeconomic factor was measured and evaluated separately. The results from regression analysis depicted that currency devaluation had a negative influence on export, import and GDP, but a positive one on the unemployment rate. In particular, GDP and import were affected more significantly by the volatility in currency rate than export. In addition, it was found that currency rate did not significantly influence the unemployment rate. The conclusions that can be drawn from this study are that devaluation of 2014 has had a negative impact on Kazakhstans economy based on the analysis of macroeconomic factors.
- Subject
- Economy
- Extent
- 63 pages
- Format
- Publisher
- Regent's University London
- degree
- BAGM Economy
- Language
- English
- Date Issued
- 2016
- Type
- Report
- Rights Holder
- Regent's University London & Diana Taniyeva
- Item sets
- Theses or Dissertation