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Research conferences

The National Bank of Kazakhstan announces a call for papers to participate in the 4th Research Conference “Challenges and Prospects for Economic Development”.

The 4th Research Conference “Challenges and Prospects for Economic Development” will be held in April – May 2024 in Almaty.

During the Conference the research findings of the National Bank’s employees, the academic community and research organizations on topical issues of economic development will be presented.

Researchers from universities (the faculty, PhD and master’s programs students) and research organizations are invited to participate in the Conference on the following topic areas.

Macroeconomic Policy: fundamentals of economic stability

• Central bank and communication: optimal transparency and openness

• Drivers of economic growth in the era of technological transformation

• Effective macroeconomic coordination as a basis for macroeconomic stability and sustainable growth

Financial market – challenges and opportunities to ensure high-quality economic growth

• Financial market in providing investments for economic growth

• Financial stability: credit and systemic risks

• Structural transformation of the financial sector: financial platforms and ecosystems

Human capital and labor market in the context of digitalization and technological transformation

• Employment in the era of technological shifts and digital economy

• Inflationary processes and the labor market: the impact of labor market transformation on price dynamics

Regional development in the context of the Central Asian area

• Expansion of Kazakhstan’s connectivity and prospects for regional cooperation

• Integrative economy as a factor of regional development in the context of globalization

Parties concerned are expected to submit the application with the attachment of the research paper via email: conference@nationalbank.kz marked “Application for participation in the conference” by March 1, 2024.

Shortlisted candidates selected to present papers at the Conference will be notified.

III International Scientific and Practical Conference of the National Bank “Strategic issues of monetary policy. Challenges of the new economic reality”

On April 25, 2023, the III International Scientific and Practical Conference of the National Bank “Strategic issues of monetary policy. Challenges of the new economic reality” was held in Almaty.

The Conference was attended by independent experts in the field of economics and finance, as well as representatives of the National Bank, the academic community, research centers, financial and international organizations and government institutions.

During the event, analysts of the National Bank and the academic community presented to the conference participants the results of research on the setting and achievement of inflation targets, data on the dynamics of consumer prices over the medium term. Independent experts also shared their views on determining the optimal inflation target and monetary policy measures to stabilize it.

During the conference, the participants also discussed the long-term strategy of monetary policy, global trends and their impact on inflationary processes in Kazakhstan, factors of internal inflation, the interaction of monetary, fiscal and macroprudential policies in Kazakhstan.

Following the results of the Conference, the National Bank published a special issue of the publication “Economic Review”, which included the research presented at the Conference.

Session I. Long-Term Monetary Policy Strategy: Quantitative Formulation of the Target to Ensure the Price Stability

• Setting and Achieving Inflation Targets. Choosing Optimal Characteristics of the Inflation Target in Kazakhstan

Mukanov N.S., Almagambetov К.А., Jarzhanov М.U., Iliyassov А.B.

• Inflation Targeting, Monetary Policy and the Transition Back to Target in Kazakhstan

De Groot О., Konnings J.

• Central Bank Independence and Achieving the Inflation Target

Mukhamediyev B.М., Khitakhunov А.А., Temerbulatova Zh.S.

Session II. Macroeconomic Coordination

• Fiscal Rules in a DSGE model for Kazakhstan

Abilov N., Aviomoh H., Rahardja S.

• The Impact of the Government Expenditures on the Current Account of the Balance of Payments of Kazakhstan through the Channel of Import of Goods

Turabay B.A., Uskenbayev А.B., Muratov Zh.S., Almagambetova M.Kh., Ospanov N.К.

• Interrelation between Macroprudential and Monetary Policies: Goals, Instruments, Effects

Ybrayev Zh.Zh.

Session III. The Nature and Factors of Internal Inflation in the Republic of Kazakhstan

• Internal Factors of Inflationary Processes in the Republic of Kazakhstan

Bayeva Yu.V., Pak Е.А., Ageyeva V.S.

• A Study of Inflation Persistence in Kazakhstan: What Has Changed?

Tolepbergen A.

• Assessing the Anchoring of Inflation Expectations in Kazakhstan

Kulkayeva А.М., Seidakhmetov А.N.

• Various Core Inflation Estimates for Kazakhstan

Orlov К.V., Seidakhmetov А.N.

Economic Review of the National Bank of the Republic of Kazakhstan: Special Edition, 2023

II Scientific and Practical Conference of the National Bank on macroeconomic modeling, 2019

On September 27, 2019, the II Scientific and Practical conference of the National Bank on macroeconomic modeling was held in Almaty.

The event was attended by economists of the central banks of Kazakhstan, Russia, Belarus and experts of applied research institutes.

The main objectives were to familiarize the expert community with modeling techniques, as well as applied research in the field of macroeconomics, monetary policy and financial sector development.

The National Bank published a special issue of the publication “Economic Review”, which included the following research papers presented at the Conference.

• Use of a quarterly projections model and satellite models in the NBRK analysis and forecasting system

Zhuzbaev A.M., Orlov K.V., Monetary Policy Department of the NBK

• Inflation and economic growth: in search of balance

Samat M.N., Mekebayeva K.B., Monetary Policy Department of the NBK

• Assessment of the impact of external shocks on the economies of the EAEU member states

Kuznetsov A., Kharitonchik A., Berdigulova A., Fedorov K., Eurasian Development Bank

• Optimization of monetary policy based on the DSGE model of the economy of Kazakhstan

Schultz D.N., Russian Academy of Foreign Trade, Kysykov A.B., Center for Applied Research “Talap”

• Estimating the equilibrium exchange rate: a simple approach to a difficult question

Mironchik N.L., Research Department of the National Bank of Belarus

• Analysis of the Kazakhstan labor market based on microdata

Bauyrzhan A., Center for Applied Economics

• Trends and medium-term prospects for the development of human capital in the labor market

Adambekova A.A., Eshpanova D.D., NARXOZ University

I Scientific and Practical Conference of the National Bank, 2017

On September 12, 2017, the First Scientific and Practical Conference “Macroeconomic modeling: the modeling system of the National Bank and research work in Kazakhstan” was held in Almaty.

Representatives of the National Bank and the scientific and expert community discussed and shared their experience in modeling macroeconomic processes in the economy.

The conference was devoted to the demonstration of the model apparatus used by the National Bank and the presentation of scientific papers in the field of macroeconomics conducted by the scientific community of Kazakhstan.

The discussions allowed to look from different points of view at important issues of understanding economic relationships in modern realities and the effectiveness of public policy in achieving medium- and long-term goals.

The conference was attended by speakers of leading scientific, research and educational organizations of Kazakhstan, including the Institute of Economic Research, the Center for Applied Economics, Nazarbayev University, K. Satbayev Kazakh National Research Technical University, Al-Farabi Kazakh National University, KIMEP University, Kazakhstan branch of Lomonosov Moscow State University.

Session 1 “Economic techniques of modeling and forecasting of economic processes”

• “Inflation modeling, empirical estimates”

Tuleuov O.A., Research and Statistics Department of the NBK

• “Modeling of GDP by production method”

K.B. Mekenbayeva, Research and Statistics Department of the NBK

• “Modeling of GDP by end-use method”

Zhuzbayev A.M., Research and Statistics Department of the NBK

• “Short-term forecasts of macroeconomic indicators”

Aigazin Zh., Center for Applied Economics

Session 2 “Structural model of Kazakhstan’s economy”

• “Quarterly Projection Model of Kazakhstan”

Chernyavsky D.O., Mukanov N.S., Research and Statistics Department of the NBK

• “Medium-term quarterly model of macroeconomic forecasting of Kazakhstan’s development”

Shuneev Sh.Zh., Center for Research and Forecasting of the Institute of Economic Research

Session 3: “Applied macroeconomic research in the field of monetary policy”

• “Development of recommendations on macroprudential, monetary and fiscal policy based on a multi-country DSGE model”

Ashimov A.A., Satbayev University

• “Macro Modeling of the Central Bank – Ideas for the Future”

Atanu Rakshit, Nazarbayev University

• “Evolution of monetary policy rules in transition economies”

Mukhamadiev B.M., Al-Farabi Kazakh National University

• “In which direction is the Kazakhstani tenge moving? Some exchange rate policy issues in Kazakhstan and Central Asia”

Yunbei Kim, Nazarbayev University

• “Exchange rate, base rate and repayment of loans in Kazakhstan”

Moldasheva G., KIMEP University

• “Assessment of the general macroeconomic equilibrium model for export-oriented economies (on the example of Kazakhstan and Russia)”

Kunasheva D.B., Baeva Yu.V., Kazakhstan Branch of Lomonosov Moscow State University

• “Development of innovative technology of the management sector of the national economy”

Baizakov S.B., The Institute of Economic Research

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