Economic analysis of IMF policies on Turkic Republics during globalization: The Kazakhstan case

IMF, World Bank and World Trade Organization are among the leading actors playing the most important role in the globalizing world economy. The economic policies implemented by these organizations, especially by the IMF, in Turkey and the Turkic Republics has led to the rapid spread of economic globalization. Since its establishment in 1947, the IMF, which has provided loans to member countries through various mechanisms, not only earned interest income in return for these loans, but also intervened directly and indirectly in the economic policies of countries. These interventions are generally shaped within the framework of Orthodox economic policies, such as privatization, devaluation of the exchange rate, control of the money supply, subsidies and abolition of social assistance. These interventions had positive and negative effects not only on the economy but also on politics and socio-cultural life. In this study the political and socio-cultural impact of economic globalization which was spread among Turkey and the Turkic Republics, and the policies of IMF aimed to be researched in a comparative manner. This study will make an important contribution to the literature since there are no studies that deal with these effects collectively and comparatively. In the first part of the study, the concept of globalization is dealt with especially with its economic dimension. In the second chapter, the IMF policies that have an important effect on the rapid spread of economic globalization are investigated with country examples. Selected IMF policies implemented in Turkey and Kazakhstan because of the similarities are examined comparatively in the third chapter. In the fourth part, the last point of globalization, the post-globalization process and the changing structure and role of institutions as the IMF in the economic dimension of globalization are examined.