| Name | Mira Nurmakhanova |
| Position | Associate Professor of Finance, Associate Dean of Undergraduate Program |
| Email address | miranur@kimep.kz |
| Education background | PhD. Iowa State University, USA
MA KIMEP University, Kazakhstan BSc. Kazakh National University, Kazakhstan |
| Overview | Professor Nurmakhanova’s primary research interest focuses on studying the influence of oil prices on macroeconomic performance of the country. Specifically, she examines the effect of oil prices on the economic growth, real exchange rate, stock market, inflation rate, etc. Another research interest is related to performance of microfinance institutions: extend of trade-off between financial sustainability and outreach of MFIs, effect of regulation on performance of microfinance institutions. Third research interest is related to stability of banking sector. Specifically, she examines the effect of bank market power on both the credit risk-taking attitude of Kazakhstani banks and overall stability of banks. |
| Research Interests | · The Effect of Regulation on Performance of Microfinance Institutions: effect of regulation on MFIs performance. When evaluating the impact of regulation following questions are of primary interest: (1) what is the effect of regulation on performance of actually regulated MFI? and (2) what is the effect of regulation on performance of MFIs that opt for regulation once they start taking deposits? In a new contribution to existing literature, our results show the impacts of regulation on performance of actually regulated MFIs and MFIs that opt for regulation once they start taking deposits.
· Stability of banking sector: effect of bank market power on both the credit risk-taking attitude of Kazakhstani banks and overall stability of banks. · Effect of oil prices: effect of oil prices on the economic growth, real exchange rate, stock market, inflation rate, etc. |
| Selected Publications | Articles
· Katenova, M., M. Nurmakhanova. 2017. “Financial Development and Economic Growth: The Case of Kazakhstan”. International Review of Business Research Papers. Vol. 13. No. 1, 151 – 160. · Nurmakhanova, M., G. Kretzschmar, H. Fedhilla. 2015. “Trade-off between Financial Sustainability and Outreach of Microfinance Institutions”. Eurasian Economic Review, Vol. 5, 231-250. · Nurmakhanova M., O. Pak. 2013. “The Effect of Market Power on Bank Credit Risk-Taking and Bank Stability in Kazakhstan”, Transition Studies Review, Vol. 20, 335-350. · Nurmakhanova M., O. Pak. 2013. “Bank market power and credit risk-taking in Kazakhstan”, Economics: strategy and practice, Vol. 4, p. 73-85.
Conference Papers
· 1st International Conference on Energy, Finance and the Macroeconomy. November 22-24, 2017, Montpellier, France. “The Effect of Regulation on Performance of Microfinance Institutions: Evidence from Cross Countries”. · Sixth Regional Conference of the Central Eurasian Studies Society (CESS). June-July 2017, Bishkek, Kyrgyzstan, “Oil and Growth Challenge in Kazakhstan”. · Eurasian Business and Economics Society, EBES 2017, May 2017, Rome, Italy. “Oil prices and stock market in Kazakhstan”. · Euro-Asia Forum in Politics, Economics and Business, July 2016, Belgrade, Serbia. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 40-th Research workshop, May 2016, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 39-th Research workshop, December 2015, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 37-th Research workshop, December 2014, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 36-th Research workshop, June-July 2014, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · Portuguese Finance Network, PFN 2014, Algarve University, June 2014, Faro, Portugal. “The Effect of Regulation on Performance of Microfinance Institutions”. · The Rimini Conference in Economics and Finance, RCEF-2014, Rimini Centre for Economic Analysis Rimini, June 2014, Italy. “Oil Prices, Exchange Rates and Stock Market in Kazakhstan”. · Eurasian Business and Economics Society, EBES 2014, Bilim University, Istanbul, June 2014, Turkey. “Financial Loss Distribution Behaviour Associated with MFI Outreach Financing”. · ESNIE 2014, Dauphine University, Paris, May 2014, France. “The Effect of Regulation on Performance of Microfinance Institutions”. · Rimini Bayesian Workshop, University of Bologna, Rimini Campus, June 2013, Italy. “Financial Loss Distribution Behaviour Associated with MFI Outreach Financing”. · Research seminar, Dublin Institute of Technology, November 2012, Dublin, Ireland. “The impact of bank market power on bank credit risk-taking and stability in Kazakhstan”. · Business and Social Science Research Conference, January 2011, Dubai. “Kazakhstan- the real currency and growth challenge for commodity producing countries”. · 4th workshop of Centre for Advanced Studies in Economics and Econometrics, June 2010, Faro, Portugal. “Effect of Oil Prices on Macroeconomic Performance of the Country”. · AAEA meeting, July 2008, Orlando, USA. “Timing of Fertilizer Applications: Environmental Implications”. · AAEA meeting, July 2006, Los Angeles, USA.”Effect of Crop Choice on Split Fertilizer Application”. |
| Teaching | Current Courses Taught
· Business Microeconomics · Business Macroeconomics · Principles of Finance |
| Grants/Fellowships | · Principal investigator (2013), research grant sponsored by the Economic Education and Research Consortium, EERC, entitled by “Oil and Growth Challenge in Kazakhstan”.
· Career Integration Fellowship (CIF) (2014) CERGE-EI Teaching Fellows program |
| Awards | · Teaching Excellence Award, KIMEP, 2015 and 2018
· Paper titled “Kazakhstan – The Real Currency and Growth Challenge for Commodity Producing Countries” was presented on a Business and Social Science Research Conference in Dubai in January 2011 and won a Best Paper Award. |