Kazakhstan is one of the most successful transition countries that achieved to move to free market economy from centralized economy. Kazakhstan entered into the period of economic revival after the widespread reforms in mid-1990s. Despite 1998 Asian crisis, the government implemented specific measures including trade protection and foreign exchange rationing. The macroeconomic indicators of Kazakhstan were relatively positive until the economy was hit by the negative effects of the Global Financial Crisis in 2008. Kazakhstan banking sector was also negatively affected by the Global Financial Crisis.
Hayal Ayca Simsek graduated from Public Finance Department of the Faculty of Economics and Administrative Sciences in Dokuz Eylul University in 1995 and she started working as a research assistant in Public Finance Department in 1996. Starting her master education in 1995, she completed this process in 1997 by presenting her master thesis namely ‘Alternative Fiscal Policies in Determining the Limits of Government’. Hayal Ayca Simsek started doctorate process in 1998 and completed this process in 2003 by presenting her doctoral thesis namely ‘Constitutional Economics As An Alternative for Achie