Convergence Between Kazakhstan’S Financial Systemand International Standards: Overcoming Difficulties

• Autorzy: Natalya Uvarova
• Języki publikacji: EN

Abstrakty

EN

This article deals with the convergence of the Kazakh financial system with international standards in light of the new, enhanced agreement with the European Union on partnership and cooperation (January 19, 2015). Based on this research, the approaches used by the Kazakh financial system to converge with the European Union (EU) and the mechanism of implementing international standards in the national regulatory framework are determined. In practice, the study provides justification for the necessity of arranging the systematization of existing rules and regulations covering financial activity in the Republic, eliminating discrepancies between the national regulatory framework and international standards, and determining clear security guarantees for foreign investors’ financial activity in the Republic. The research results are primarily focused on the development of public finance management theory. Theories and conclusions present in the study can be used in the educational processes of economic and legal institutions and in the policymaking activity of public finance management bodies.

Słowa kluczowe

EN

Finance; International Standards; Public Management; Global Financial System; Financial Standards; Regulation

• Wydawca: Sciendo
• Czasopismo: DANUBE: Law and Economics Review
• Rocznik: 2015
• Tom: 6
• Numer: 2
• Strony: 121-129

Daty

wydano

2015-06-01

online

2015-07-14

Twórcy

autor

Natalya Uvarova

• Department of Accounting and Auditing, Caspian University, Seifullin avenue 521, Almaty, Republic of Kazakhstan,

Bibliografia

• Borzel, T. (2011). Move closer! New Modes of Governance and Accession to the European Union. DANUBE: Law and Economics Review, 2(2), 1-22.
• Decree of the President of the Republic of Kazakhstan dated August 29, 2008, N 653 On the state program “Path to Europe” for 2009-2011. SAPP RK. 2008. No. 37. Art. 398.
• Decree of the President of the Republic of Kazakhstan dated January 19, 2015. No. 991 About the initialling of the draft Agreement on enhanced partnership and cooperation between Kazakhstan and the European Union. Retrieved on January 19, 2015 from http://adilet.zan.kz/rus/docs/U1500000991.
• European Commission. (2006). Commissioner Ferrero-Waldner to visit Kazakhstan 19/20 October. Press Release Database IP/06/1420, Brussels, 18 October, 2006. Retrieved on October 18, 2006 from http://europa.eu/rapid/press-release_IP-06-1420_en.htm.
• European Council. (2007). The Regional Strategy Paper for Assistance to Central Asia (2007-2013). Retrieved from http://www.eeas.europa.eu/central_asia/rsp/07_13_en.pdf.
• Kacaljak, M. (2011). The Debt Crisis and the Means of Enforcing the Budgetary Discipline of EU Member States. DANUBE: Law and Economics Review, 2(4), 63-79.
• Kotlan, I., Machova, Z. (2012).World Tax Index: Methodology and Data. DANUBE: Law and Economics Review, 3(2), 19-33.
• Law of the Republic of Kazakhstan dated April 28, 1997, No. 97-1 “On bill circulation in the Republic of Kazakhstan”. Bulletin of the Parliament of the Republic of Kazakhstan. 1997. No. 8. P. 87; 2001. No. 24. P. 338.
• Law of the Republic of Kazakhstan dated December 6, 2001, No. 264-II “On the membership of the Republic of Kazakhstan in the International Monetary Fund, International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, Multilateral Investment Guarantee Agency, International Center for Settlement of Investment Disputes, European Bank of Reconstruction and Development, Asian Development Bank, Islamic Development Bank”. Bulletin of the Parliament of the Republic of Kazakhstan. 2001. No. 23. P. 313.
• Law of the Republic of Kazakhstan dated July 2, 2003, No. 461 “On security market”. Bulletin of the Parliament of the Republic of Kazakhstan. 2003. No. 14. P. 119.
• Law of the Republic of Kazakhstan dated July 4, 2003, No. 474 “On state regulation and supervision of the financial market and financial organizations”. Bulletin of the Parliament of the Republic of Kazakhstan. 2003. No. 15. P. 132.
• Law of the Republic of Kazakhstan dated May 13, 2003, No. 415 “On joint stock companies”. Bulletin of the Parliament of the Republic of Kazakhstan. 2003. No. 10. P. 55.
• Nazarbayev, N. (2010). Kazakhstan is ready to become the EU “gateway” to Central Asia. Diapazon, April 11, 2010. Retrieved from http://www.diapazon.kz/kazakhstan/kazpolitics/26735-kazakhstan-gotov-stat-dlja-es-vorotami-v.html.
• Resolution of the Government of the Republic of Kazakhstan dated August 27, 2014, No. 954 “On Approval of the Concept of Development the Financial Sector of the Republic of KazakhstanUp To 2030”. Retrieved onAugust 27, 2014 from http://adilet.zan.kz/rus/docs/P1400000954.
• Stiblar, F. (2011). The Global Crisis and the Western Balkans. DANUBE: Law and Economics Review, 2(3), 23-46.
• The Constitution of the Republic of Kazakhstan, adopted at the Republican Referendum on August 30, 1995. Bulletin of the Parliament of the Republic of Kazakhstan. 1996.
• No. 4. P. 217.

Identyfikatory

DOI

10.1515/danb-2015-0008