Institutional development and the Astana international financial center in Kazakhstan

Journal article


Huang, Flora, Yeung, Horace, Bekmurzayeva, Zhanyl and Janaidar, Dina 2020. Institutional development and the Astana international financial center in Kazakhstan. Washington University Global Studies Law Review.
AuthorsHuang, Flora, Yeung, Horace, Bekmurzayeva, Zhanyl and Janaidar, Dina
Abstract

This article investigates the most recent instance of the transplantation of English corporate and financial law into a different legal environment. The Astana International Financial Center (AIFC) in Kazakhstan was launched in 2018. The AIFC has largely built on the institutional model pioneered by the Dubai International Financial Center. This key institutional innovation is the transplanting and operation of laws based on the English common law, independent of their national legal systems (civil law systems, heavily influenced by Islamic tradition, and, in the case of Kazakhstan, also Soviet socialist principles). This article seeks to contribute to the understanding of the system of Kazakhstan, a strategically located but well under-investigated country, and a potentially viable institutional model for other aspiring financial centers. To the best knowledge of the authors, this work is the first ever English academic literature on the development of the AIFC.

KeywordsKazakhstan, Astana International Financial Center, Institutions, Company and Financial Laws, English/Common Law, Legal Transplant
Year2020
JournalWashington University Global Studies Law Review
PublisherWashington University
ISSN1546-6981
Web address (URL)http://hdl.handle.net/10545/625163
hdl:10545/625163
Publication dates2020
Publication process dates
Deposited16 Sep 2020, 12:59
Accepted17 Feb 2020
ContributorsUniversity of Essex
File
File Access Level
Open
Permalink -

https://repository.derby.ac.uk/item/948v9/institutional-development-and-the-astana-international-financial-center-in-kazakhstan

Download files

  • 8
    total views
  • 0
    total downloads
  • 1
    views this month
  • 0
    downloads this month

Export as

Related outputs

Institutional development and the Astana international financial center in Kazakhstan
Huang, Flora, Yeung, Horace, Bekmurzayeva, Zhanyl and Janaidar, Dina 2021. Institutional development and the Astana international financial center in Kazakhstan. Washington University Global Studies Law Review.
Enforcement strategies in Chinese capital market
Huang, Flora and Liu, Junhai 2020. Enforcement strategies in Chinese capital market. in: Routledge.
Stock connect: Integration, internationalisation and implementation
Huang, Flora 2021. Stock connect: Integration, internationalisation and implementation. Journal of Business Law.
Sino-African trade: A multi-layered appraisal
Huang, Flora and Yeung, Horace 2020. Sino-African trade: A multi-layered appraisal. Manchester Journal of International Economic Law.
Chinese companies and the Hong Kong stock market
Huang, Flora and Yeung, Horace 2013. Chinese companies and the Hong Kong stock market. Routledge.
The regulation of illegal fundraising in China
Huang, Flora, Liu, Xinmin and Yeung, Horace 2018. The regulation of illegal fundraising in China. Asia Pacific Law Review.
Law–finance–growth nexus in the context of Africa
Huang, Flora and Yeung, Horace 2018. Law–finance–growth nexus in the context of Africa. Law and Development Review. https://doi.org/10.1515/ldr-2018-0028
Dual class shares around the top global financial centres
Huang, Flora 2017. Dual class shares around the top global financial centres. Journal of Business Law.
The “tech” of two cities: what Hong Kong failed but Shenzhen succeeded
Huang, Flora and Yeung, Horace 2017. The “tech” of two cities: what Hong Kong failed but Shenzhen succeeded. Coller Venture Review.
Certainty over clemency: English contract law in the face of financial crisis
Huang, Flora and Yeung, Horace 2016. Certainty over clemency: English contract law in the face of financial crisis. in: Springer.
Shareholder protection in China from a numerical comparative law perspective
Huang, Flora and Yeung, Horace 2019. Shareholder protection in China from a numerical comparative law perspective. Chinese Journal of Comparative Law.
Institutions and economic growth in Asia: The case of mainland China, Hong Kong, Singapore and Malaysia
Huang, Flora and Yeung, Horace 2018. Institutions and economic growth in Asia: The case of mainland China, Hong Kong, Singapore and Malaysia. Routledge.
One country two systems as bedrock of Hong Kong's continued success: Fiction or reality?
Huang, Flora and Yeung, Horace 2015. One country two systems as bedrock of Hong Kong's continued success: Fiction or reality? Boston College International and Comparative Law Review.
Coordinated efforts to regulate overseas listed Chinese companies: a historical perspective and recent developments
Huang, Flora, Liu, Xinmin and Yeung, Horace 2017. Coordinated efforts to regulate overseas listed Chinese companies: a historical perspective and recent developments. Journal of Corporate Law Studies. https://doi.org/10.1080/14735970.2017.1320023