On December 23, 2016, the Bloomberg news agency reported that the Kazkommertsbank, which is the biggest commercial bank in Kazakhstan, is in trouble and borrowed 400 billion tenge from the National Bank of Kazakhstan (NBK) to deal with its liquidity problems
Central Asia and Caucasus has always been economically powerful regions throughout the world history.However, in the beginning of 21st century, Central Asia and Caucasus with its high oil and natural gas reserves regained importance and these countries have attracted attention
In the last thirteen years, academics and policymakers have shown increasing interest in the development of foreign direct investments (FDI). In particular, the positive effect of FDI on economic growth was widely investigated.
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).
Due to the globalization, thriving consumer society, and rapid development of the financial intermediation, consumer lending, which includes unsecured loans lent to individuals, has become a fastgrowing area of the banking services over the past ten years in developing countrie
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;
Since the beginning of 2015, we, the Eurasian Research Institute decided to prepare weekly ebulletins to evaluate the important developments in the Eurasian region and to share these e-bulletins with the readers.