Economic crisis 2008 and its Impact on Socio-economic Development of Chosen Regions in Kazakhstan

Botagoz Utegen

Bachelor's thesis

Abstract:

This thesis investigates the socio-economic impact of the 2008 global financial crisis on Kazakhstan, focusing on the regions of Almaty and Jambyl. It examines the effects on GDP per capita, unemployment rates, and income inequality at the national level, with a comparative regional analysis. Using time series analysis and linear regression models, the study also considers other significant economic shocks, such as the 2015-2016 local crisis and the COVID-19 pandemic. The results reveal that while Kazakhstan recovered from the crisis nationally, the recovery was uneven. Almaty, with its diverse economy, rebounded quickly, whereas Jambyl, a more rural region, experienced prolonged unemployment and slower growth. The thesis highlights the critical role of economic diversification and government interventions in mitigating crisis impacts and emphasizes the need for policies targeting underdeveloped regions to ensure balanced, resilient growth in response to global financial shocks.

Keywords

gross domestic product, unemployment, inflation

Language used: English

Date on which the thesis was submitted / produced: 3. 12. 2024

Thesis defence

• Date of defence: 6. 2. 2025
• Supervisor: Ing. Jiří Sálus
• Reader: Karel Jílek, Ing.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme:
Business Administration