Recent political and economic shifts following the global financial crisis of the last few years triggered further rise of Eurasia, which has become a geopolitical symbol that indicates full transition towards a multipolar world.
The Global market research company Euromonitor International reported that consumer card payments and mobile-commerce will see 6.6% and 23% average annual growth rates, in 2016-2021 respectively, while global cash payments will be 1.3%
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