Presence of a Dutch disease in Kazakhstan: Myth or Reality?

The goal of this work is to test the hypothesis if economy of the modern Kazakhstan is affected by the Dutch disease. In order to examine the effectiveness of the Kazakh economy wide range of different data analysis were done in this work, starting from the learnings from the experiences with the Dutch disease of other countries, as well as econometrical analysis of the governmental statistics. In the empirical part was tested the hypothesis that non oil-based industries of the country are affected by the oil prices. The result of an econometrical research has proven it and it confirms the presence of a Dutch disease in Kazakhstan, since there is a decrease in the efficiency of the country's economy due to an increase in the gross income of raw materials.