Analytical Review of the Current Technological Basis of the Republic of Kazakhstan

Abstract

Technological development is one of the indicators of a country's competitiveness, indicating the presence of advanced research and innovation. This paper discusses the technological development of the country, from the point of view of the infrastructural elements of the national innovation system. The purpose of the study is to assess the state of development of the technological basis of the Republic of Kazakhstan. For the evaluation were used quantitative and qualitative methods, and cluster analysis. The results of the study revealed the main barriers to technological development, such as the low level of maturity of the technological infrastructure and institutional environment. Suggestions and conclusions can be used by stakeholders from the business environment, as well as organizations representing the country's national innovation system.

A Comparative Analysis of the Issues Related to Fintech Development in Kazakhstan and China

“…Thus, the level of e-commerce can also be considered an area that requires improvement. Therefore, it is essential to establish ways to motivate the population to use online commerce (Akhmetova et al 2021).…”

“…Its geographical and socio-demographic features and the lack of banking resources for a large population have created favourable conditions for e-commerce development and the increase in electronic wallets and online payments. Alibaba, one of the largest e-commerce companies in the world, is located in China (Akhmetova et al 2021). What is the basis for the success and progress of the fintech industry in China?…”

“…In the modern world, China leads the financial technology market (Akhmetova et al 2021). Therefore, it is useful from a methodological standpoint to compare the dynamics of the development of financial technologies in China and Kazakhstan (Tan, He, and Teng 2022).…”

“…Previously, microcredit was also an important area (Baidybekova 2019). However, in 2020, the law on microcredit was adopted, and now this segment is absent in fintech (Akhmetova et al 2021). The structure of Kazakhstan fintech is crowdfunding, online accounting, infrastructure solutions for banks and microfinance, neobanks, marketplaces, venture funds, loyalty, payments, and online lending.…”

“…It was accompanied by the devaluation of the national currency and a decrease in the real incomes of the population. These problems limit the development of financial literacy among the population and increase people's vulnerability to the risks associated with new virtual products (Akhmetova et al 2021;Pysmak, Mazhnyk, and Sigaieva 2021). Kazakh banks have mastered tools such as advanced Internet banking, electronic purchases, and banking management, and they have gained the trust of many consumers.…”