Problems and prospects of Kazakhstan’s securities market development

  • Т.И. Какижанова
  • Ш. Марат­


Nowadays securities market has a special importance to national economy as a key sector of a state’s financial system condition, and it also serves asareference point for foreign investors. The Kazakhstan securi-ties market is characterized by underdevelopment ofits stock market. Key problem are low liquidity of domestic stock market, the need for creation of new financial instruments, trade activization, and also the attraction of investments into real sector of econom and etc. This article identifies main problems of securities marketand provides analysis of main reasons for which securities market does not develop properly. The author having analyzed a key indicator – a capitalization to GDP ratio, concludes that the securities market is notwell-developed. Moreover, main measures for increasing securities market attractiveness and prospect of its development are considered.


1 Қазақ­стан­ қор биржа­сы­ АҚ ресми­ интер­нет­-ресур­сы­.

2 Қазақ­стан­ Респуб­ли­ка­сы­ Ұлт­тық Бан­кінің­ ресми­ интер­нет­-ресур­сы­. http://www.nationalbank. kz/?docid=296&switch=kazakh
3 Асыл-Инвест­ АҚ ресми­ интер­нет­-ресур­сы­.

4 Қазақ­стан­ Респуб­ли­ка­сы­ның­ Ұлттық­ Банкі­нің­ Қаржы­лық­ қада­ға­лауы­ның­ ресми­ ннтер­нет­-ресур­сы­. http://www.afn. kz/?docid=670&switch=kazakh
Как цитировать
КАКИЖАНОВА, Т.И.; МАРАТ­, Ш.. Problems and prospects of Kazakhstan’s securities market development. Вестник КазНУ. Серия Экономическая, [S.l.], v. 108, n. 2, apr. 2016. ISSN 2617-7161. Доступно на: <>. Дата доступа: 17 apr. 2021

Ключевые слова

securities market; stock market index; profitability; capi-talization.