The Optimization of Sectoral Economic Development in the Context of Globalization

Abstract

The research is relevant due to the expanding influence of transnational forces on branch economies, particularly evident in Kazakhstan’s growing market and production interdependence spurred by globalization. This phenomenon accelerates economic internationalization and amplifies the sway of global market conditions on local systems and economies. The research purpose is to identify and determine the modern factors of the sectoral economy development in the globalization process. The research applies empirical and statistical methods, as well as analysis and synthesis and the scientific abstraction method. Capital flows can be completely separated from the exchange of goods and tangible services. Business units are protected by respective barriers and supported in terms of budgets, and financial globalization is rather an environmental component. Only the liberalization of food and non-food trade has serious bottlenecks related to domestic support and functioning in financial markets. From a financial perspective, globalization improves capital allocation and mitigates macroeconomic fluctuations. However, this positive effect on growth has negative consequences, which include social inequality and reduced opportunities for autonomous economic policy escalation. The practical significance is based on finding effective ways and methods for the sectoral economy to optimize the globalization process.