Corruption Risks in Private Investment Attraction: An Analysis of Empirical Data
DOI:
https://doi.org/10.68081/ewacwf03Keywords:
Corruption, private investment, corruption risk, investment attraction, perception of corruptionAbstract
Private investment is particularly vulnerable to the risk of corruption due to the specific features of government regulation in this area of economic activity. The purpose of this article is to examine the perception of corruption in private investment attraction in the Republic of Kazakhstan among business representatives and relevant experts, identifying the main types of corruption risks and the factors contributing to them. To achieve this objective, a mixed-method research approach was employed, based on the collection and analysis of empirical data through a sociological survey of business entities (total n=384) and interviews with experts in investment attraction and corruption (total n=10). The results showed that the most characteristic corruption risks in Kazakhstan’s investment sector are associated with resource allocation, the exercise of administrative and regulatory powers, and the provision of non-competitive advantages to individual market participants at the legislative level. The key factors contributing to these risks include legislative deficiencies, high administrative burdens, competition for resources, and insufficient institutional oversight. The main recommendations for further improving anti-corruption policy in this area include improving regulatory procedures and increasing transparency in the allocation of preferential resources to investment entities.
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