The most recent reports on the external trade of the Committee of Statistics of the Ministry of the National Economy of Kazakhstan have shown a large decline. During the first half of 2016 the overall amount of trade with other countries has fallen by approximately one third.
Today it is widely believed that stock market is very important for sustained economic development. The idea of the relationship between stock market development and economic growth was first proposed by Gurley and Shaw (1955).
In 2015, remittance inflow to developing countries increased by 0.4% to $431.6 billion from $430 billion comparing with 2014. However, global remittances, including the ones from high-income countries fell by 1.7% to $581.6 billion in 2015 (WB, 2016).
After the escalation of the conflict in Syria in 2011, 4.8 million Syrians have fled to the neighboring countries such as Turkey, Lebanon, Jordan, Egypt and Iraq. In addition, 6.6 million people are internally displaced in Syria.
Executive Summary: Remittance which were sent by migrant workers to their home countries are seen as small amounts that meet the needs of the migrants households. However, these small amounts are three times larger than total foreign aid in 2015.
The financial sector, particularly, the banking sector is a very important factor for economic development, and there is wide range of theoretical and empirical literature emphasizing its importance (Patrick, 1966; Demetriades and Husseina, 1996; Arestis and Demetriades, 1997;