Актуальные проблемы экономики и финансов: тезисы докладов ХІІІ Международной научно-практической конференции (Киев-Санкт-Петербург-Вена, 31 октября 2018)
Секция: Инвестиции и инновации
Mukan Moldir Maratkyzy
Doctoral Student of the
University Narxoz
Almaty, Kazakhstan
SMALL AND MEDIUM ENTERPRISES AS A FORCE TO STOCK MARKET DEVELOPMENT
For business development, numerous company owners confront the need to draw in extra financing, which will permit modernize and grow the business, increment its profitability and productivity and additionally new steadfast clients.
Be that as it may, amid current monetary conditions, the conventional strategy for financing, where we can allude bank loaning, isn't constantly appropriate for entrepreneurs. The purpose behind this - genuinely high financing costs, specific methodology of banks to borrowers, limitations on the terms of loaning and a considerable measure of different conditions, which are extremely hard to complete. In these conditions, a commendable option in contrast to credits can be entering money markets. SME organizations, which are generally not business entities, can issue bonds and attract new capital.
Kazakhstan Stock Exchange is a key component of the framework of the Kazakhstan money related market, through which recorded organizations access an extensive variety of speculators, both retail and institutional. Turning into a posting organization, the business goes to a subjectively new level of advancement, picking up the chance to adapt its venture engaging quality. Also, an open organization is a unique status that permits reinforcing the notoriety and picture of the organization among accomplices and clients. Be that as it may, there is as yet an inquiry, why there is few SMEs among recorded organizations if there are great and wide points of view for them?
As we probably aware, in Kazakhstan there is extremely high national money instability. This reality can be portrayed by numerous outer macroeconomic variables, while under our thought just a single and this is oil value instability. Nations where the fundamental movement is oil and gas generation, get wage from the offer of oil and gas for fare in outside cash, and this is the principle wellspring of financial advancement of these nations. Thusly, there is a relationship between's reality oil costs and the economies of such nations, which is reflected in the estimation of national monetary forms in respect to the US dollar (hereinafter alluded to as the dollar) through the inflow of remote money into the economy. And additionally Kazakhstan modern nation, it chiefly trades oil.
As indicated by Lizardo, Mollick (2010), there is an end is that over the long haul, an expansion in oil costs prompts a deterioration of the estimation of the dollar against the national monetary standards of the oil trading nations [1, p. 400]. The national monetary forms of the biggest oil-creating nations and nations of OPEC members were taken. These nations have switches of impact on the adjustment in oil costs by expanding or decreasing the volume of oil creation, and in this way control the volume of inflows of the dollar into the economies of their nations, which is reflected in the swapping scale of national monetary forms. Oil and gas complex involves a central offer in the structure of the national economy of Kazakhstan and is a genuine commitment for the advancement of the nation's economy.
Subsequently, there is a reliance of the economy of Kazakhstan on the outer factor - the world cost of oil. In the oil and gas complex included the undertakings in the extraction, transportation and handling of oil and gas, and also ventures creating oil and gas hardware and discount and retail oil and gas exchanging systems.
For investors, for the most part for outside, there is no unmistakable believability to our nation as they know about financial circumstance in Kazakhstan. On the off chance that they see that business has opportunities to return high profits, speculators really do here and now ventures. Long haul speculations are not productive, on account of the unpredictability and not steady financial circumstance, so the last benefit can be so low and even negative.
However, the investment bank Nomura in its report "Introducing Damocles: Our early warning indicator of exchange rate crises "presented an analysis of susceptibility developing countries to currency crises. The so-called index Damocles (by analogy with the Damocles sword in the ancient Greek myth), based on 30 emerging markets (countries) was ranked by their degree exposure to currency crises. The index is based on 13 calculation indicators, including taking into account such macroeconomic indicators as the size of foreign exchange reserves, external debt, imports, budget deficit and current accounts, etc., which together predict the risk of a currency crisis in the country in the next 12 months. According to the presented analysis of Nomura, the greatest risks are seven developing countries, among which, along with Argentina and Turkey, South Africa, Ukraine, Egypt, Sri Lanka. These countries are most likely the emergence of a currency crisis over the next 12 months. In the meantime, investigation distinguishes various nations with generally safe of money stuns, including Brazil, Indonesia, Russia and Kazakhstan. The creators of the report take note of a huge abatement in the danger of money stuns in Kazakhstan in examination with the pre-emergency period against the background of financial recuperation and judicious macroeconomic strategies. The economy of Kazakhstan recuperated from the oil stun of 2014, on account of a drifting conversion scale, reasonable macroeconomic strategies, the rebuilding of oil costs and the arrival of monetary development in Russia. Accordingly, the estimation of the Damocles list tumbled to zero, which demonstrates a to a great degree generally safe of money hazard in the following a year. There is a checked enhancement from 2016-2017 when the normal estimation of the Damocles list was 32 and in examination with the long haul normal (1996-2008) at 41.
Significant spending shortfalls and current record declined in 2017 against the support of more focused the swapping scale, the expanded oil income and duty change. Money related arrangement has effectively changed to swelling focusing on (5% - 7%), while the China One-Way One Way activity gives chances to support interest in foundation and enhance the economy past product markets. The key changes ahead are privatization and a decrease in non-performing advances, while the primary hazard factors are the stoppage in China and Russia and the fall in oil costs [2].
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