Page 10 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.74, # 1, 2017, pp. 10-22

REGULATORY POLICY OF KAZAKHSTAN: PROBLEMS AND
PERSPECTIVES

S.Baizakov, A.Tulepbekova, A.Assenova

e-mail: baizakov37@mail.ru

Received 15 November 2016; accepted 28 April 2017; published online 10 July 2017

Abstract

The article is devoted to the problems of implementation of “smart regulation” in
Kazakhstan. In this article the review of Kazakhstan's regulatory policy formation
under the past 10 years has been conducted. The authors consider the perspectives
and trends in the development of Kazakhstan's regulatory policy. Also in this article
the role of state regulation of entrepreneurial activity in matters of improving the
investment and business climate in Kazakhstan is shown.

Key words: regulatory policy, smart regulation, business climate, investment,
entrepreneurial activity

JEL Classification: R38; R48

The development and implementation of the regulatory policy is conditioned by the
need to improve the welfare of the population through more effective social and
economic policies of the state, economic development by increasing productive
efficiency, especially for small and medium-sized enterprises, ensuring the rule of
law, the security of the state and society, life and health of the population.
Regulation is a key tool for achieving the goals of social, economic and
environmental policies of governments. Governments have at their disposal a wide
range of regulatory mechanisms that reflect the complexity and diversity of the
needs of their citizens, communities and economies.
An analysis of international experience shows that the need to implement the
regulatory policy was dictated by emerging financial crises, environmental disasters,
a decline in the standard of living of citizens, regional conflicts, zones of instability,
total control of state property, transition periods to a rapidly developing market
economy.
In the past three decades, the OECD has declared itself as the main developer of
international principles in regulatory policy based on best practices. Such principles
presuppose the creation of better institutional mechanisms for the management of
regulators and, accordingly, complement several documents such as the OECD Guide
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