Kazakhstan's Economic Growth Hinges on Labor and Natural Resources, Study Finds.
The article breaks down and models Kazakhstan's economic growth to guide long-term economic policies. Experts found that total factor productivity (TFP) is closely linked to real GDP growth. They predict that investing more capital won't significantly boost Kazakhstan's economy due to diminishing returns. By using various methods, they analyzed the contributions of labor, capital, and TFP to GDP growth. The results suggest that focusing on improving labor, capital, and natural resources can enhance Kazakhstan's economic competitiveness in the long run.