Kazakhstan's Diversification from the Natural Resources Sector: Strategic and Economic Opportunities

Foreword
Preface
	Bibliography
Contents
Notes on Contributors
Abbreviations
List of Figures
List of Tables
Part I: Development of the Economy Based on Resource Sector: Economic Opportunities for Diversification
	1: Institutional Reform in Kazakhstan
		Introduction
		Neo-institutional Theory and Emerging Economies
		Main Trends in Institutional and Economic Development of Kazakhstan in Recent Years
		Conclusion
		Bibliography
	2: The Oil and Gas Industry in Kazakhstan’s Investment Regimes
		Introduction
		Evolution of the Investment Regime, Subsoil Legislation, and Petroleum Fiscal Systems in Kazakhstan
			Early post-Soviet Times: 1991–1993
			Post-Soviet Times: Most Favorable Investment Regime and the “Free Entry” Model—1994–1997
			An Increase of Government Bargaining Power: “Negotiation Model”—1997–2003
			Crisis and Post-Crisis Period: “Approval Model”—2003–2014
			Evolution of Subsoil Legislation and Petroleum Fiscal Systems, 1991–2015
		The International Law on Foreign Investment and Reinvestment in the O&G Industry
		The Shaping Factors for FDI, RI, and RR in Kazakhstan
		Hypotheses Group 1: Guarantee of Legislation Stability
		Hypotheses Group 2: Guarantees Against Government Interference and Nationalization
		Hypotheses Group 3: Clearly Defined Principles of Compensation and Guarantees of Free Use of Dividends
		Hypotheses Group 4: Transparency of Investment Activity
		Conclusion
		Bibliography
	3: The Effects of Oil Revenues on Kazakhstan’s Economy
		Introduction
		Institutional Theory and Sustainable Development of Resource-driven Unbalanced Economies
		Economic Development in the post-Soviet Period
		O&G Industry Overview
		The Effects of Oil Rents on the Economic Development
		Recent Economic Development
		The Effects of OR on Socio-economic Development
		The Most Recent Socio-economic Reforms
		Strategy 2050
		Nurly Zhol
		The One Hundred Concrete Steps Concept
		Conclusion
		Bibliography
Part II: Kazakhstan: Strategic Opportunities
	4: Infrastructure Investment and Development Alongside the Belt and Road Initiative
		Introduction
		Infrastructure and Large-scale Infrastructure Investment Policy
			Infrastructure Investment
			The Belt and Road Initiative
				Regional Participation
				Private Sector Involvement Opportunities Under the BRI
				Investment Volume, Funding, and Financing
		Conclusion
		Bibliography
	5: Investments in the Digital Silk Road
		Introduction
		New Digital Economy Institutions
		Technological Digital Divide
		The Digital Silk Road
		Digitalization of the O&G Industry
		Local ICT Industry Development
		Conclusion and Future Research
		Bibliography
Part III: China and Regional Development
	6: Chinese Investments Across the New Silk Road
		Introduction
		An Overview of Chinese Investment in Kazakhstan
		BRI and Its Motivations
			Overproduction of Infrastructure-Oriented Goods
			Pressure of Sustaining Economic Growth
			Threat from Protectionism
			Kazakhstan’s Opportunities
		Conclusion
		Bibliography
	7: Kazakhstan as Logistics Linchpin in the Belt and Road Initiative
		Geography as (Logistics) Destiny
		Kazakhstan Situated on Silk Roads and Steppe Roads
		Shipping Costs, Containerization and Capacity
		Four Major Issues in Becoming a Logistics Linchpin
		Silk Road Logistics and Politics
		Bibliography
Part IV: Kazakhstan: Economic Opportunities
	8: Diversification and Local Industry Development
		Introduction
		Development of the Indigenous Firms in the Energy Sector
		Local Procurement in the Energy Sector of Kazakhstan
		Steps Taken by Three Major O&G Consortiums Toward Local Industry Development
			Future Expansion Project of TengizChevrOil (TCO)
			North Caspian Operating Company (NCOC)
			Karachaganak Petroleum Operating (KPO)
			Public-Private Initiatives
		Conclusions and Implications
		Bibliography
	9: Building Entrepreneurial Ecosystems: Effects of Economic Integration
		Introduction
		Economic Integration
		Eurasian Economic Union
			Discussion and Further Directions of Research
		Bibliography
	10: Development of the e-Tourism Industry in Kazakhstan
		Introduction
		The Tourism Industry in Kazakhstan
		Information Technology in the Structure of the Tourism Industry
		Conclusions and Policy Recommendations
		Bibliography
Index