Results of the first competitive selection of applicants for the NBK research grants have been summed up. The purpose of providing research grants is to develop the economic studies, mobilize the research capacity of the academic community in the sphere of monetary policy and financial stability, increase public awareness of the monetary policy, financial stability and other areas of the National Bank.

Overall, between August 10 and September 24, 2021, 44 applications were received, 34 of which were admitted to an expert assessment after verification of compliance with set requirements. Each application was studied by two independent reviewers and the NBK department which came up with a relevant research topic. Independent reviewers included lecturers of higher educational institutions and researchers with scientific and analytical publications, academic degrees or work experience on a topic of research.

Grant Commission, which includes employees of the National Bank and independent members, based on results of a comprehensive and objective study of applications, taking into account opinions of independent reviewers and departments of the National Bank of Kazakhstan, decided to approve the following applications for grants.

Application N	Research topic	Applicant
N 63	Independence of the central bank and inflation target attainability	Al-Farabi Kazakh National University
N 62	Budget spending: cyclical shocks and fiscal multipliers	Applied Economics Research Centre LLP
N 61	Import substitution and diversification policies: efficacy analysis	M.S.Narikbayev KAZGUU University
N 69	Household debt, heterogeneity and financial stability	Kazakh British Technical University
N 90	Household debt, heterogeneity and financial stability	Applied Economics Research Centre LLP
N 76	Segmented labor market: cyclic elasticity of demand for skills	Labor Resource Development Center JSC
N 104	Private capital market in Kazakhstan and prospects for its development	Al-Farabi Kazakh National University
N 68	Protection mechanisms of qualified and non-qualified investors in the securities market: experience of EU legislation, including principles, methods and requirements to the assessment of risk profile and investor qualification	Almaty Management University

Total amount of the budget for approved applications makes 75.6 million KZT. Grant winners will receive grant notices and a grant agreement to sign it.

For more details mass media can contact:
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e-mail: press@nationalbank.kz
www.nationalbank.kz