The study applies Autoregressive Distributed Lags models and the Toda and Yamamoto (1995) causality test to analyze the relationships as well as the causality properties among various pairs of Ghana’s inflow of Foreign Direct Investment (FDI), Inflation and Economic growth for the period 1980 to 2017. The study finds that Inflation relates inversely with both Economic growth and inflows of Foreign Direct Investment. However, Ghana’s Economic growth and its inflows of FDI are positively related. Finally, the study finds a bidirectional causal effect between inflation and FDI. In addition, a unidirectional causal effect moving from Economic growth to Inflation was established and the causal effect is non-existent between Economic growth and inflow of FDI.
Kazakhstan has the largest oil resources in Central Asia mainly concentrated in the Caspian Sea region. Revenues from oil exports is the primary source of income for the state budget of Kazakhstan and essentially important for the entire economy of Kazakhstan. Europe is the major market for Kazakhstan’s crude oil. However, the fact that pipelines connecting Kazakhstan and European consumers go through Russia and other countries poses certain political and economic risks on Kazakhstan. In this light, China appears to be an alternative for Kazakhstan’s oil exports. The aim of the study is to examine Kazakhstan’s major energy deposits, their capacities, oil and gas pipelines and projects, and to investigate the energy policy within the framework of neoliberal theory. The results show that Kazakhstan is pursuing an energy policy dependent on Russia and seeks to strengthen cooperating with China. However, there are certain pitfalls and obstacles that Kazakhstan needs to overcome.
Keywords: Kazakhstan, energy policies, pipelines, oil and gas resources, neoliberal theory [HTML]
The period immediately after the end of the Cold War (1991–1999) is often viewed as post-imperial and marked by Russia’s loss of the areas it once dominated. During Boris Yeltsin’s presidency, Moscow’s foreign
policy was largely driven by a Euro-Atlanticist concept that put the post-Soviet countries, including those in Central Asia, on the periphery of its interests. In contrast, Vladimir Putin after his accession to power
adopted a “multipolar world” concept of foreign policy, envisaging the Kremlin’s dominance in the Eurasian heartland. This article employs empirical studies of cause-effect relationships that discuss the evolution of Russia’s foreign policy orienteers. In particular, it looks into the question of what Vladimir Putin aimed to achieve in Central Asia and whether he managed to accomplish his goals. The article argues that the geopolitical considerations are the main determinants of Russia’s approach to Central Asia, with other factors like security and policies towards the Russian community being distinctive to each state separately.
Keywords: Russia, Central Asia, multipolar world, foreign policy, Vladimir Putin [HTML]
This study focuses on geographical concentration of industries in Kazakhstan at 2, 4 and 5-digit disaggregation level, across 16 regions of Kazakhstan during 1990 - 2013. The main objective of this study is to identify the change in regional concentration of industries during the sample period. There are certainly considerable differences in levels of concentration between industries and their changes during the sample period. Thus, sectors like utilities, food and beverage industries show less concentration, whereas industries with high knowledge intensity present very high levels of spatial concentration during the whole sample period. In addition, there was a considerable decline in concentration of oil and gas and related extractive industries during the period of under consideration both in absolute and relative terms. It happens to be that many new industries with high knowledge intensity have emerged since 1990 and that there are many sectors that are negligibly small.