N/A

The research aims to analyse how Kazakhstan balances the developmental benefits of its vast oil reserves with the challenges posed by the resource curse, addressing the central question: “How does Kazakhstan balance the developmental benefits of oil with the challenges posed by the resource curse in shaping its political economy?” Employing a qualitative research design enriched with quantitative data, the study conducts an empirical analysis of secondary sources, including academic literature, government documents, and international reports. The theoretical framework is grounded in the resource curse theory, which explores how state-led strategies can promote economic growth and mitigate the adverse effects of resource dependency.

Acemoglu, D., Johnson, S., & Robinson, J. A. (2005). Institutions as a fundamental cause of long-run growth. In P. Aghion & S. N. Durlauf (Eds.), Handbook of Economic Growth (Vol. 1, pp. 385–472). Elsevier.

Al-Kasim, F., Søreide, T., & Williams, A. (2006). Grand corruption in the regulation of oil (U4 Issue No. 2). Chr. Michelsen Institute.

Andersen, S. S. (1993). The struggle over North Sea oil and gas: Government strategies in Denmark, Britain, and Norway. Scandinavian University Press.

Asian Development Bank. (n.d.). Kazakhstan country profile: Economic overview and development strategy. Asian Development Bank.

Аналитический интернет-журнал Власть. (2024, February 22). Как работает Национальный фонд Казахстана? Vlast.kz.

Atlantic Council. (2024). Surrounded by superpowers: Kazakhstan walks a geopolitical tightrope. Atlantic Council.

Auty, R. M. (1993). Sustaining development in mineral economies: The resource curse thesis. Routledge.

Auty, R. M. (1997). Natural resources, the state and development strategy. Journal of International Development, 9(4), 651–663.

Auty, R. M. (2006). Energy, wealth and governance in the Caspian Sea region. Routledge.

Bevan, D. L., Collier, P., & Gunning, J. W. (1999). The political economy of poverty, equity, and growth: Nigeria and Indonesia. Oxford University Press.

Blomström, M., & Kokko, A. (2007). From natural resources to high-tech production: The evolution of industrial competitiveness in Sweden and Finland. In D. Lederman & W. F. Maloney (Eds.), Natural resources: Neither curse nor destiny (pp. 213–256). Stanford University Press; World Bank.

BP. (2020). BP statistical review of world energy (69th ed.).

Cavalcanti, T., Mohaddes, K., & Raissi, M. (2011). Growth, development and natural resources: New evidence using a heterogeneous panel analysis. The Quarterly Review of Economics and Finance, 51(4), 305–318.

Ecologist. (n.d.). Kazakhstan’s oil and gas: Transparency, community impact, and environmental concerns. The Ecologist.

Economist Intelligence Unit. (2022). Kazakhstan: Country report. Economist Intelligence Unit.

Eurasian Economic Forum. (2023). Prospects for agricultural reforms in Kazakhstan. Eurasian Economic Union.

Euronews. (2010). Kazakhstan: Economy first, then politics. Euronews Report.

Fasano, U. (2002). Review of the experience with oil stabilization and savings funds in selected countries (IMF Working Paper No. WP/00/112). International Monetary Fund.

Gylfason, T. (2001). Natural resources, education, and economic development. European Economic Review, 45(4–6), 847–859.

Gylfason, T., Herbertsson, T. T., & Zoega, G. (1999). A mixed blessing: Natural resources and economic growth. Macroeconomic Dynamics, 3(2), 204–225.

Haidar, A. (2024, December 27). Kazakhstan’s 2024 legislative reforms focus on innovation, investment, and social protection. The Astana Times.

Hannesson, R. (2005). Petroleum economics: Issues and strategies of oil and natural gas production. Edward Elgar.

Humphreys, M., Sachs, J. D., & Stiglitz, J. E. (Eds.). (2007). Escaping the resource curse. Columbia University Press.

Innis, H. A. (1956). Essays in Canadian economic history. University of Toronto Press.

International Information Group. (2023). Industrial and economic updates in Kazakhstan. International Information Group.

International Monetary Fund. (2020). Fiscal transparency and resource management in resource-rich countries.

Isham, J., Pritchett, L., Woolcock, M., & Busby, G. (2003). The varieties of resource experience: Natural resource export structures and the political economy of economic growth (Working Paper No. 0308). Middlebury College.

Kapparov, K. (2015). Kazakhstan’s National Fund and oil price dependency: Risks and implications. Institute of Public Policy and Economics.

Karatayev, M. (2014). Current energy resources in Kazakhstan and the future potential of renewables: A review. Energy Procedia, 59, 97–104.

Karl, T. L. (2007). Ensuring fairness: The case for a transparent fiscal social contract. In M. Humphreys, J. D. Sachs, & J. E. Stiglitz (Eds.), Escaping the resource curse (pp. 256–285). Columbia University Press.

Kassenova, N. (2025, February 5). Surrounded by superpowers, Kazakhstan walks a geopolitical tightrope. Atlantic Council.

Kassymova, G., et al. (2012). Political economy and resource management in Kazakhstan. Central Asian Affairs.

Kemp, A. G., & Stephen, L. (2005). Policy options for the oil and gas sector in the UK following independence. University of Aberdeen, Department of Economics.

Kurtz, M. J., & Brooks, S. M. (2011). Conditioning the “resource curse”: Globalization, human capital, and growth in oil-rich nations. Comparative Political Studies, 44(6), 747–770.

Larsen, E. R. (2006). Escaping the resource curse and the Dutch disease? American Journal of Economics and Sociology, 65(3), 605–640.

Lay, J., & Mahmoud, T. O. (2004). Resource abundance and growth: A blessing or a curse? The European Journal of Development Research, 16(3), 393–418.

Lederman, D., & Maloney, W. F. (Eds.). (2007). Natural resources: Neither curse nor destiny. Stanford University Press; World Bank.

Library of Congress. (1996). Kazakhstan: A Country Study.

Maloney, W. F. (2002). Missed opportunities: Innovation and resource-based growth in Latin America. Economía, 3(1), 111–168.

Mehlum, H., Moene, K., & Torvik, R. (2006). Institutions and the resource curse. The Economic Journal, 116(508), 1–20.

Mohaddes, K., & Pesaran, M. H. (2013). One hundred years of oil income and the Iranian economy: A curse or a blessing? Macroeconomic Dynamics, 17(2), 297–327.

National Bank of Kazakhstan. (n.d.). Macroeconomic and financial indicators. Retrieved from https://nationalbank.kz

Official Information Source of the Prime Minister of the Republic of Kazakhstan. (n.d.). Nurly Zhol State Program of Infrastructure Development and Economic Reforms.

Papyrakis, E., & Gerlagh, R. (2004). The resource curse hypothesis and its transmission channels. Journal of Comparative Economics, 32(1), 181–193.

Ross, M. L. (1999). The political economy of the resource curse. World Politics, 51(2), 297–322.

Ross, M. L. (2012). The oil curse: How petroleum wealth shapes the development of nations. Princeton University Press.

Sachs, J. D. (2007). How to handle the macroeconomics of oil wealth. In M. Humphreys, J. D. Sachs, & J. E. Stiglitz (Eds.), Escaping the resource curse (pp. 173–193). Columbia University Press.

Sachs, J. D., & Warner, A. M. (1995). Natural resource abundance and economic growth (NBER Working Paper No. 5398). National Bureau of Economic Research.

Sachs, J. D., & Warner, A. M. (1999). The big push, natural resource booms and growth. Journal of Development Economics, 59(1), 43–76.

Sachs, J. D., & Warner, A. M. (2001). The curse of natural resources. European Economic Review, 45(4–6), 827–838.

Sarraf, M., & Jiwanji, M. (2001). Beating the resource curse: The case of Botswana. World Bank Environment Department.

Schatz, E. (2009). Political reform and continuity in Kazakhstan. Routledge.

Singer, H. W., & Prebisch, R. (1959 [1962]). The terms of trade and economic development. In J. Adler (Ed.), Capital, development, and planning.

Sovereign Wealth Fund Institute. (n.d.). Sovereign Wealth Fund Issues and the Transparency Index. Sovereign Wealth Fund Institute.

Statistical Committee of the Republic of Kazakhstan. (n.d.). Trade and export data. Retrieved from https://stat.gov.kz

Stijns, J. P. C. (2005). Natural resource abundance and economic growth revisited. Resources Policy, 30(2), 107–130.

Sullivan, C. (2018). Political liberalization in Kazakhstan: Challenges and prospects. Central Asian Affairs, 5(2), 135–157.

Syzdykova, A. (2018). Oil price volatility and economic impacts in Kazakhstan. International Journal of Energy Economics and Policy.

Syzdykova, A., Abubakirova, A., & Erdal, F. B. (2020). Analysis of the relationship between renewable energy and economic growth in selected developing countries. International Journal of Energy Economics and Policy, 11(1), 110–116.

Van der Ploeg, F. (2011). Natural resources: Curse or blessing? Journal of Economic Literature, 49(2), 366–420.

World Economics. (n.d.). Kazakhstan GDP Per Capita. (2024) World Bank.

Wright, G. (1990). The origins of American industrial success, 1879–1940. American Economic Review, 80(4), 651–668.