Peripheral economy and the import substitution: opportunities for Kazakhstan

Abstract

The article is devoted to the definition of import substitution as one of the possible options for the development of the economy of Kazakhstan. The need to implement import substitution in Kazakhstan is caused by the economic status of Kazakhstan, characterized by the presence of developed industries of the third mode, a large agro-industrial complex. Hence, there is a need for theoretical developments relating to the formation of its own, adequate economic realities of the country, the model of import substitution. In this regard, the article attempts to conduct a theoretical and methodological substantiation of the theory of peripheral economy, the theory of import substitution. Various theoretical concepts of import substitution are considered, the study of which will allow to develop its own model of import substitution in the economy of Kazakhstan, which allows to smooth all the negative effects arising from the implementation of import substitution policy. Import substitution as a way of overcoming the negative consequences of the international division of labor by underdeveloped countries is defined in the works of R. Prebish, S. Amin, S. Furtado, A. Emmanuel. However, the refraction of their theories directly on the current economic situation in the country is impossible due to the significant differences in the starting conditions of development of Kazakhstan and developing countries of Latin America, Asia, Africa of 50–60 years. For the same reasons, it is impossible to use in pure form the theories of «big push» of P. Rosenstein-Rodan, H. Liebenstein, R. Nurx, T. Singer, A. Hirschman and the theory of dual economy of A. Lewis, also engaged in the problems of import substitution in the framework of studies on the achievement of economic growth in developing countries. However, to understand the nature of this strategy, it is necessary to study their theoretical calculations.