JUNG-WAN LEE, KAZAKH-BRITISH TECHNICAL UNIVERSITY, REPUBLIC OF KAZAKHSTAN
DAVID LAL, KAZAKH-BRITISH TECHNICAL UNIVERSITY, REPUBLIC OF KAZAKHSTAN
Abstract: Internationalisation of the firm has been the central focus of attention for more than forty years, to the extent that the evolution of the concept of globalisation has consolidated itself in the new age of internationalisation. Indeed, in relation to the penetration of foreign markets through import substitution strategies, it is notable that firms, markets and industries in developed and devloping nations are becoming unrecognisable. Consequently, this study focuses on the developing economy of Kazakhstan and considers emerging policy implications for the nation. Regression analysis is used in order to look at data since the country’s independece in 1997, but in particular, considers the period 2003- -2006. Hence, this paper considers the following:- the relationships between the operations of MNE’s and the national GDP growth in Kazakhstan; the relationships between MNEs’involvements and major industrial development in the country; and the relationships between FDI inflows and major economic activities in Kazakhstan.
Keywords: Kazakhstan, Developing nation, Economic growth, Internationalisation, Globalisation, Foreign direct investment, National competitiveness