Employment elasticity of output growth in Kazakhstan economy: Recent evidence from a macroeconomic perspective

This study aims to understand the dynamics of aggregate and sectorial employment elasticity output growth in Kazakhstan economy from 1996 2019. To serve our purpose, a rolling regression method with window 6 years has been used estimate sectoral elasticity, an ARDL bounds testing approach incorporated assess impact various macroeconomics determinants. The results indicate existence cointegration relationship, Kazakhstan's declined at levels, thus indicating jobless growth. More specifically, reveal that inflation, trade openness exchange rate are negatively associated elasticity. In contrast, positive association is established between service sector share, population recommends strengthening macroeconomic fundamentals such as inflation stabilization coupled robust development human capital.