2023
DOI: 10.32479/ijeep.14054
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Comparative Analysis of Volatility Structures of Stock Index and Energy Company Returns in Kazakhstan

Abstract: Kazakhstan Stock Exchange (KASE) is established on November 17, 1993, with the participation of 23 leading Kazakh banks under the leadership of the National Bank of the Republic of Kazakhstan. KASE has had an important position in the country's economy since then. This study comparatively analyses the volatility structures of the return of the KASE Composite Index and the returns of the oil and energy companies traded in the KASE in the period between 5.01.2021 and 4.01.2023. The preliminary test (ARCH LM) sho… Show more

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Cited by 2 publications
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“…During this period, Kazakhstan implemented various practices like introducing its currencies, ensuring price stability, keeping inflation under control, encouraging free entrepreneurship through privatizations, and implementing monetary and financial reform policies. This has been a long and painful process (Kasım, 2022;Sultanova et al, 2024). The economic reforms that were rapidly implemented caused problems, however, these subsided in the 2000s.…”
Section: Introductionmentioning
confidence: 99%
“…During this period, Kazakhstan implemented various practices like introducing its currencies, ensuring price stability, keeping inflation under control, encouraging free entrepreneurship through privatizations, and implementing monetary and financial reform policies. This has been a long and painful process (Kasım, 2022;Sultanova et al, 2024). The economic reforms that were rapidly implemented caused problems, however, these subsided in the 2000s.…”
Section: Introductionmentioning
confidence: 99%
“…Kazakhstan's natural resources had a major impact on Kazakhstan's success relative to other post-Soviet states (Xiong et al, 2015;Myrzabekkyzy et al, 2022;Bolganbayev et al, 2022;Taibek et al, 2023). Due to its rapid integration into world markets and especially its natural riches, the literature is full of studies examining the economy of Kazakhstan and the impact of its natural resources on the country's economy at both macro and micro levels (Oskenbayev et al, 2011;Ceyhan et al, 2016;Syzdykova, 2018;Shults and Kyssykov, 2019;Sabenova et al, 2023).…”
Section: Introductionmentioning
confidence: 99%