Ivane Javakhishvili Tbilisi State University
Paata Gugushvili Institute of Economics International Scientific
C O N F E R E N C E S
"ECONOMY – XXI CENTURY"
∘ Ramaz Abesadze ∘
ECONOMIC DECLINE IS A CONCOMITANT PROCESS OF ECONOMIC DEVELOPMENT
Abstract. There is a close relationship between economic development and economic growth. At the modern stage, it is economic development that determines the features of economic growth. Economic development provides unprecedented opportunities for economic growth. But, at the same time, economic development should be aimed at reducing growth rates. We call this act of economic development "economic decline", the paper substantiates that economic decline is a concomitant process of economic development and that it is a progressive event, since under such conditions both the level of well-being and the prosperity of the country increase. This is made possible by the use of modern cutting-edge technologies, reduction of material and energy capacity, improvement of consumer properties of products and other qualitative changes in the economy. Key words: economic development, Economic Growth, economic decline Economic development and economic growth Researchers in
2023-09-30
ECONOMIC DECLINE IS A CONCOMITANT PROCESS OF ECONOMIC DEVELOPMENT
Abstract. There is a close relationship between economic development and economic growth. At the modern stage, it is economic development that determines the features of economic growth. Economic development provides unprecedented opportunities for economic growth. But, at the same time, economic development should be aimed at reducing growth rates. We call this act of economic development "economic decline", the paper substantiates that economic decline is a concomitant process of economic development and that it is a progressive event, since under such conditions both the level of well-being and the prosperity of the country increase. This is made possible by the use of modern cutting-edge technologies, reduction of material and energy capacity, improvement of consumer properties of products and other qualitative changes in the economy. Key words: economic development, Economic Growth, economic decline Economic development and economic growth Researchers in
2023-09-30
∘ Davit Aslanishvili ∘ Kristine Omadze ∘
THE EVOLUTION OF THE ESSENCE OF HUMAN MATERIAL LIFE – FROM ANCIENT ROME TO THE MODERN WORLD
Abstract.In this research, we have studied the ways of success and happiness for the modern human beings. In that filed, Maslow's pyramid, Malthus Theory and Ricardian equivalence are presented, its evolution and impact on life, economy, finance and technology are discussed. Some examples of the lives of successful and rich people (billionaires) are presented, including negative and positive aspects of this path, the current investment trend and the global public debt dilemma is shown Keywords: Maslow's pyramid, GDP, Happiness Index, Living standards, Easterlin paradox, , Malthusian trap, Ricardian Equivalence, Public Debt. A modern person, who lives in an environment full of challenges, tries to make his and his family's life as comfortable and effective as possible. In this regard, the peak of success is depicted according to Maslow's pyramid: Maslow's pyramid - economic/financial essence (Table 1) Passing the 1st and 2nd steps is a necessary step of human
2023-09-30
THE EVOLUTION OF THE ESSENCE OF HUMAN MATERIAL LIFE – FROM ANCIENT ROME TO THE MODERN WORLD
Abstract.In this research, we have studied the ways of success and happiness for the modern human beings. In that filed, Maslow's pyramid, Malthus Theory and Ricardian equivalence are presented, its evolution and impact on life, economy, finance and technology are discussed. Some examples of the lives of successful and rich people (billionaires) are presented, including negative and positive aspects of this path, the current investment trend and the global public debt dilemma is shown Keywords: Maslow's pyramid, GDP, Happiness Index, Living standards, Easterlin paradox, , Malthusian trap, Ricardian Equivalence, Public Debt. A modern person, who lives in an environment full of challenges, tries to make his and his family's life as comfortable and effective as possible. In this regard, the peak of success is depicted according to Maslow's pyramid: Maslow's pyramid - economic/financial essence (Table 1) Passing the 1st and 2nd steps is a necessary step of human
2023-09-30
∘ Givi Bedianashvili ∘
GOBAL UNCERTAINTY AND SUSTAINABLE COMPETITIVENESS
Abstract. The paper presents the challenges arising from the growth of insecurity in the conditions of confrontational globalization and the features of new requirements for the competitiveness of the socio-economic systems of the countries. It has been revealed that the inexorable growth of insecurity makes the problem of ensuring the competitiveness of countries relevant, taking into account the strengthening of certain aspects of its sustainability. It is noted that in order to ensure the necessary level of sustainable competitiveness of the country, it is important to substantially improve the level of economic sustainability, develop intellectual capital and increase resource efficiency. Keywords: global uncertainty growth, sustainable competitiveness of the country, governance efficiency, intellectual capital, economic sustainability, resource efficiency. References ბედიანაშვილი გ., კოხრეიძე გ. (2023).
2023-09-30
GOBAL UNCERTAINTY AND SUSTAINABLE COMPETITIVENESS
Abstract. The paper presents the challenges arising from the growth of insecurity in the conditions of confrontational globalization and the features of new requirements for the competitiveness of the socio-economic systems of the countries. It has been revealed that the inexorable growth of insecurity makes the problem of ensuring the competitiveness of countries relevant, taking into account the strengthening of certain aspects of its sustainability. It is noted that in order to ensure the necessary level of sustainable competitiveness of the country, it is important to substantially improve the level of economic sustainability, develop intellectual capital and increase resource efficiency. Keywords: global uncertainty growth, sustainable competitiveness of the country, governance efficiency, intellectual capital, economic sustainability, resource efficiency. References ბედიანაშვილი გ., კოხრეიძე გ. (2023).
2023-09-30
∘ George Berulava ∘
MARKETING CAPABILITIES AND FIRMS’ PERFORMANCE: A THEORETICAL REVIEW
Abstract. This theoretical review explores the relationship between marketing capabilities and firm performance in the context of the Resource-Based View (RBV) framework. The RBV emphasizes the significance of internal factors within a firm, asserting that competitive advantage arises from unique resources and capabilities. Marketing capabilities refer to an organization's ability to effectively and efficiently perform marketing activities, delivering value to customers and gaining a competitive advantage. The study examines various dimensions of marketing capabilities, including inside-in, spanning, and outside-in processes, which enable firms to understand customer needs, develop and execute marketing strategies, and build and maintain customer relationships. The review of existing literature demonstrates a strong positive relationship between marketing capabilities and firm performance, with studies revealing their impact on financial outcomes, market positioning, innovation,
2023-09-30
MARKETING CAPABILITIES AND FIRMS’ PERFORMANCE: A THEORETICAL REVIEW
Abstract. This theoretical review explores the relationship between marketing capabilities and firm performance in the context of the Resource-Based View (RBV) framework. The RBV emphasizes the significance of internal factors within a firm, asserting that competitive advantage arises from unique resources and capabilities. Marketing capabilities refer to an organization's ability to effectively and efficiently perform marketing activities, delivering value to customers and gaining a competitive advantage. The study examines various dimensions of marketing capabilities, including inside-in, spanning, and outside-in processes, which enable firms to understand customer needs, develop and execute marketing strategies, and build and maintain customer relationships. The review of existing literature demonstrates a strong positive relationship between marketing capabilities and firm performance, with studies revealing their impact on financial outcomes, market positioning, innovation,
2023-09-30
∘ Vakhtang Burduli ∘
GLOBAL ECONOMIC DANGERS AND THEIR IMPACT ON NATIONAL ECONOMIC SECURITY
Abstract. The purpose of this work was to identify economic dangers that arise during the development of the last stage of globalization (hyperglobalization) and necessitate the transition to a new stage of globalization, as well as to determine, to the extent possible, the impact of these dangers on the country's national economic security. Before moving on to solving this problem, the work first studied the general structural problems of the processes of development of globalizations of recent periods in order to identify and systematize the structures of world and state influence and business coordination on the processes of development of globalizations. Therefore, in the first subsection of the first chapter of the work, structural elements (attributes, categories, tools, mechanisms, etc.) that ensure the course and development of globalizations are identified (and some of them were introduced by me), systematized and characterized. Among the many of these attributes are
2023-09-30
GLOBAL ECONOMIC DANGERS AND THEIR IMPACT ON NATIONAL ECONOMIC SECURITY
Abstract. The purpose of this work was to identify economic dangers that arise during the development of the last stage of globalization (hyperglobalization) and necessitate the transition to a new stage of globalization, as well as to determine, to the extent possible, the impact of these dangers on the country's national economic security. Before moving on to solving this problem, the work first studied the general structural problems of the processes of development of globalizations of recent periods in order to identify and systematize the structures of world and state influence and business coordination on the processes of development of globalizations. Therefore, in the first subsection of the first chapter of the work, structural elements (attributes, categories, tools, mechanisms, etc.) that ensure the course and development of globalizations are identified (and some of them were introduced by me), systematized and characterized. Among the many of these attributes are
2023-09-30
∘ Lia Totladze ∘ Mamuka Khuskivadze ∘
ANALYSIS OF THE RELATIONSHIP BETWEEN URBANIZATIONAND ECOLOGICAL SECURITY
Abstract Urbanization as a phenomenon occupies a special place among the sustainable development goals (SDG). It is a multidimensional phenomenon. The dynamics of urban processes have impact on the social, economic and especially ecological environment of the country. The article discusses the essence of urbanization as a social transformation and its relations with the country's development indicators. The positive and negative effects of urbanization are analyzed. Attention is focused on both theoretical and empirical aspects of the relationship of urbanization with ecological security. For this purpose, the dynamics of the level of urbanization and ecological security indicators (EPI and GHGs) in Georgia have been analyzed. Keywords: Urbanization; Sustainable Development; Ecological Security; Environmental Performance
2023-09-30
ANALYSIS OF THE RELATIONSHIP BETWEEN URBANIZATIONAND ECOLOGICAL SECURITY
Abstract Urbanization as a phenomenon occupies a special place among the sustainable development goals (SDG). It is a multidimensional phenomenon. The dynamics of urban processes have impact on the social, economic and especially ecological environment of the country. The article discusses the essence of urbanization as a social transformation and its relations with the country's development indicators. The positive and negative effects of urbanization are analyzed. Attention is focused on both theoretical and empirical aspects of the relationship of urbanization with ecological security. For this purpose, the dynamics of the level of urbanization and ecological security indicators (EPI and GHGs) in Georgia have been analyzed. Keywords: Urbanization; Sustainable Development; Ecological Security; Environmental Performance
2023-09-30
∘ Nugzar Todua ∘ Giorgi Robakidze ∘
THE EFFECT OF PRODUCT PLACEMENT ON GEORGIAN CONSUMERS ATTITUDE TOWARDS BRANDS
Abstract. The article shows that the need to use integrated marketing communications in modern business is increasing, which is essential for establishing long-term consumer relationships. One such way of interacting with consumers is product placement, which is widely used in marketing communications. The importance of the practice of product placement is demonstrated by the fact that today, the growth rate of its use already significantly exceeds that of traditional advertising. Consequently, traditional television advertising is an increasingly less effective way to promote a brand or product. In this case, a unique role is assigned to product placement, which is the most important marketing method for attracting the attention of consumers and influencing them. The practice of product placement in the Georgian market is quite widespread. Nevertheless, in the Georgian scientific space, more research is needed to be dedicated to this issue. Considering this, the paper aims to
2023-09-30
THE EFFECT OF PRODUCT PLACEMENT ON GEORGIAN CONSUMERS ATTITUDE TOWARDS BRANDS
Abstract. The article shows that the need to use integrated marketing communications in modern business is increasing, which is essential for establishing long-term consumer relationships. One such way of interacting with consumers is product placement, which is widely used in marketing communications. The importance of the practice of product placement is demonstrated by the fact that today, the growth rate of its use already significantly exceeds that of traditional advertising. Consequently, traditional television advertising is an increasingly less effective way to promote a brand or product. In this case, a unique role is assigned to product placement, which is the most important marketing method for attracting the attention of consumers and influencing them. The practice of product placement in the Georgian market is quite widespread. Nevertheless, in the Georgian scientific space, more research is needed to be dedicated to this issue. Considering this, the paper aims to
2023-09-30
∘ Murman Kvaratskhelia ∘
GLOBAL PROBLEMS AND ECONOMIC SECURITY
Abstract. In the modern world, the process of globalization is closely related to the economic security of countries. Its subsequent events are the result of a deep transformation that began in the middle of the twentieth century, namely, after the end of the Second World War. From this completely different era, the world community begins to fundamentally reevaluate its values with special innovative approaches. At the same time, the already formed, previously existing ideology is radically changed and completely new and progressive institutions are formed. Such dynamic transformations required the promotion of such fundamental values, which are responsible for all security of the countries. Economic security is one of the basic forms of this. Economic security is correlated with the challenges of globalization, which requires a perfect definition of the real forecasting process. This is necessary for an objective assessment of the state of economic events, during which the main
2023-09-30
GLOBAL PROBLEMS AND ECONOMIC SECURITY
Abstract. In the modern world, the process of globalization is closely related to the economic security of countries. Its subsequent events are the result of a deep transformation that began in the middle of the twentieth century, namely, after the end of the Second World War. From this completely different era, the world community begins to fundamentally reevaluate its values with special innovative approaches. At the same time, the already formed, previously existing ideology is radically changed and completely new and progressive institutions are formed. Such dynamic transformations required the promotion of such fundamental values, which are responsible for all security of the countries. Economic security is one of the basic forms of this. Economic security is correlated with the challenges of globalization, which requires a perfect definition of the real forecasting process. This is necessary for an objective assessment of the state of economic events, during which the main
2023-09-30
∘ Paata Koghuashvili ∘ Joseph Archvadze ∘
GRAIN SELF-SUFFICIENCY STRATEGY AS A CORNERSTONE OF STATE SECURITY
Abstract In recent decades, the upward trend in world prices for grain crops has become more and more pronounced. Compared to 1980, the price of wheat increased by 2.6 times - from 113.5 US dollars to 299.3 US dollars, and this is by no means the limit. We can safely assume that the era of cheap products in the world, including cheap bread, is almost over. Grains, as a strategic product, are not only the main guarantor of maintaining the economic independence of any country, but also a strong means of political influence on countries that import grains. It is safe to assume that the "food and political price" of cereals will increase even more in the future. According to the FAO, world wheat production in 2021 amounted to 778.6 million tons, however, the growth of its production over the past five years (+2.9%) lagged behind the population growth rate over the same period (+5.8%) by 2 times. Unfavorable weather conditions, as well as the Russian-Ukrainian war, which accounted
2023-09-30
GRAIN SELF-SUFFICIENCY STRATEGY AS A CORNERSTONE OF STATE SECURITY
Abstract In recent decades, the upward trend in world prices for grain crops has become more and more pronounced. Compared to 1980, the price of wheat increased by 2.6 times - from 113.5 US dollars to 299.3 US dollars, and this is by no means the limit. We can safely assume that the era of cheap products in the world, including cheap bread, is almost over. Grains, as a strategic product, are not only the main guarantor of maintaining the economic independence of any country, but also a strong means of political influence on countries that import grains. It is safe to assume that the "food and political price" of cereals will increase even more in the future. According to the FAO, world wheat production in 2021 amounted to 778.6 million tons, however, the growth of its production over the past five years (+2.9%) lagged behind the population growth rate over the same period (+5.8%) by 2 times. Unfavorable weather conditions, as well as the Russian-Ukrainian war, which accounted
2023-09-30
∘ Tea Lazarashvili ∘
INVESTMENT SECURITY AS A BASIC COMPONENT OF ECONOMIC SECURITY
Abstract The article discusses different approaches to the concept of "investment security". Attention to the problem of security has increased especially in the conditions of globalization, internationalization and transnationalization. Investment security can be considered as the main component of economic security, which ensures effective investment for the sustainable development of the economy. It can also be considered as an independent category that affects the sustainable development of the national economy. In order to ensure investment security, it is necessary to develop a clear mechanism for managing investment risks, in which important attention is paid to the development of the economic forecasting system, strategic planning, and the development and implementation of modern advanced
2023-09-30
INVESTMENT SECURITY AS A BASIC COMPONENT OF ECONOMIC SECURITY
Abstract The article discusses different approaches to the concept of "investment security". Attention to the problem of security has increased especially in the conditions of globalization, internationalization and transnationalization. Investment security can be considered as the main component of economic security, which ensures effective investment for the sustainable development of the economy. It can also be considered as an independent category that affects the sustainable development of the national economy. In order to ensure investment security, it is necessary to develop a clear mechanism for managing investment risks, in which important attention is paid to the development of the economic forecasting system, strategic planning, and the development and implementation of modern advanced
2023-09-30
∘ Asif Mustafaev ∘ Tariel Gurbanov ∘
PROBLEMS OF ENSURING SUSTAINABLE ECONOMIC DEVELOPMENT ON A GLOBAL SCALE
Abstract. The presented article examines modern problems of sustainable economic development. It was noted that ensuring sustainable economic development is a complex process and also arises as a problem sensitive to the impact of national and global characteristics. The article specifically examines the damage caused by the Russian-Ukrainian conflict to economic development at the global level, countries that are better able to provide sustainable economic development, and the situation of its provision in Azerbaijan. Indicators characterizing sustainable economic development in Azerbaijan were also noted and economic steps taken in this direction were evaluated. Key words: sustainable economic development, Russian-Ukrainian conflict, Azerbaijan, index, energy prices, etc. Introduction Sustainable economic development refers to a form of economic growth that meets the needs of the present without compromising the ability of future generations to meet their own needs. The
2023-09-30
PROBLEMS OF ENSURING SUSTAINABLE ECONOMIC DEVELOPMENT ON A GLOBAL SCALE
Abstract. The presented article examines modern problems of sustainable economic development. It was noted that ensuring sustainable economic development is a complex process and also arises as a problem sensitive to the impact of national and global characteristics. The article specifically examines the damage caused by the Russian-Ukrainian conflict to economic development at the global level, countries that are better able to provide sustainable economic development, and the situation of its provision in Azerbaijan. Indicators characterizing sustainable economic development in Azerbaijan were also noted and economic steps taken in this direction were evaluated. Key words: sustainable economic development, Russian-Ukrainian conflict, Azerbaijan, index, energy prices, etc. Introduction Sustainable economic development refers to a form of economic growth that meets the needs of the present without compromising the ability of future generations to meet their own needs. The
2023-09-30
∘ Tamara Ovakimyan ∘ Hayk Mnatsakanyan ∘ Firuza Mayilyan ∘ Suren Ovakimyan ∘
CURRENT PROCESSES AND CHALLENGES IN SCIENTIFIC AND ECONOMIC RELATIONS
Abstract. For the first time in history, the human mind has become a direct productive force, fos-tering the development of the "knowledge economy". However, the knowledge use alone does not re-flect the true content of the latest scientific and economic revolution, because all the revolutionary transformations since the middle of the 18th century have been characterized by the development of knowledge and scientific innovations. The aim of the article is to explore the revolutionary aspects of the current scientific and economic relations and to reveal the related challenges that need to be ad-dressed. In order to achieve the stated aim, the authors use the methods of quantitative cluster analy-sis based on the classical principles of isomorphism and entropy. Keywords: isomorphism, entropy, scientific and economic relations, simulation model, panel anal-ysis. 1. Introduction. The development of information technologies, which connect new knowledge to the accumulated information,
2023-09-30
CURRENT PROCESSES AND CHALLENGES IN SCIENTIFIC AND ECONOMIC RELATIONS
Abstract. For the first time in history, the human mind has become a direct productive force, fos-tering the development of the "knowledge economy". However, the knowledge use alone does not re-flect the true content of the latest scientific and economic revolution, because all the revolutionary transformations since the middle of the 18th century have been characterized by the development of knowledge and scientific innovations. The aim of the article is to explore the revolutionary aspects of the current scientific and economic relations and to reveal the related challenges that need to be ad-dressed. In order to achieve the stated aim, the authors use the methods of quantitative cluster analy-sis based on the classical principles of isomorphism and entropy. Keywords: isomorphism, entropy, scientific and economic relations, simulation model, panel anal-ysis. 1. Introduction. The development of information technologies, which connect new knowledge to the accumulated information,
2023-09-30
∘ Solomon Pavliashvili ∘ Mikheil Tokmazishvili ∘
GREEN FINANCING IN GEORGIA
Abstract The term "green finance" refers to the connection between environmental and financial decisions and is based on economic, social, environmental, and other values. The vulnerability of sectors to the environment influences financial sector lending to these industries. The risks of the latter are defined by many industry characteristics, such as vulnerability and environmental impact dimensions. The study compares five sectors - energy, agriculture, construction, industry, and transport and communication - and examines the share of loans given in each sector in terms of total assets and output. Climate impacts are anticipated to indirectly affect lending decisions by financial institutions in Georgia, and climate impacts are not assigned a substantial role in commercial bank activities, except in agriculture. Agricultural sectors are the most vulnerable to climate risks and contribute significantly to climate change. Keywords: sustainable development, green
2023-09-30
GREEN FINANCING IN GEORGIA
Abstract The term "green finance" refers to the connection between environmental and financial decisions and is based on economic, social, environmental, and other values. The vulnerability of sectors to the environment influences financial sector lending to these industries. The risks of the latter are defined by many industry characteristics, such as vulnerability and environmental impact dimensions. The study compares five sectors - energy, agriculture, construction, industry, and transport and communication - and examines the share of loans given in each sector in terms of total assets and output. Climate impacts are anticipated to indirectly affect lending decisions by financial institutions in Georgia, and climate impacts are not assigned a substantial role in commercial bank activities, except in agriculture. Agricultural sectors are the most vulnerable to climate risks and contribute significantly to climate change. Keywords: sustainable development, green
2023-09-30
∘ Vladimer Papava ∘ Tamar Tapladze ∘
ON THE THREAT OF THE BANKING CRISIS, THE NEW WAVE OF ZOMBIFCATION OF THE ECONOMY AND THE OLIVERA-TANZI EFFECT
Abstract The COVID-19 pandemic, as well as Russia’s war in Ukraine and Western economic sanctions against Russia, have fueled high inflation. In order to reduce that high inflation, the US Federal Reserve raised bank interest rates, which caused some banks in the US to go bankrupt. At the same time, it is widely believed that due to the high inflation, zombie companies and zombie banks will cease to exist. The article shows that there are two types of zombie economy – orthodox and heterodox. The first type is based on government guarantees, while the second is based on government subsidies or/and low interest rates on bank loans. It is substantiated that due to the Olivera-Tanzi Effect, high inflation is not a threat to the existence of an orthodox zombie economy, although it does create difficulties for the existence of a heterodox zombie economy. The obligations taken by the US leadership to avoid a banking crisis may also provoke the process of zombification of
2023-09-30
ON THE THREAT OF THE BANKING CRISIS, THE NEW WAVE OF ZOMBIFCATION OF THE ECONOMY AND THE OLIVERA-TANZI EFFECT
Abstract The COVID-19 pandemic, as well as Russia’s war in Ukraine and Western economic sanctions against Russia, have fueled high inflation. In order to reduce that high inflation, the US Federal Reserve raised bank interest rates, which caused some banks in the US to go bankrupt. At the same time, it is widely believed that due to the high inflation, zombie companies and zombie banks will cease to exist. The article shows that there are two types of zombie economy – orthodox and heterodox. The first type is based on government guarantees, while the second is based on government subsidies or/and low interest rates on bank loans. It is substantiated that due to the Olivera-Tanzi Effect, high inflation is not a threat to the existence of an orthodox zombie economy, although it does create difficulties for the existence of a heterodox zombie economy. The obligations taken by the US leadership to avoid a banking crisis may also provoke the process of zombification of
2023-09-30
∘ Avtandil Sulaberidze ∘ Vladimer Sulaberidze ∘
DEMOGRAPHIC AGING AND “THE SILVER ECONOMY”
Abstract The world is changing, not least in terms of demography. The high level of fertility encountered during the previous century was replaced by the global demographic aging in the modern period, which is the prerequisite of the severe deficit of the population possessing work capability. The first demographic deficit is complemented and substituted by the second demographic dividend which comprises the retirement age population. As a result of the aging of the population, the social price of the demographic deficit increases. This creates significant problems not only in allocating budgetary funds aimed at the healthcare and social care of the population, but also in the political and socio-economic development of the country. In order to solve the above-mentioned issue, scientists came up with the idea of establishing the newest field of economy in the form of “the silver economy”, which signifies the economy for and with the elderly individuals. The
2023-09-30
DEMOGRAPHIC AGING AND “THE SILVER ECONOMY”
Abstract The world is changing, not least in terms of demography. The high level of fertility encountered during the previous century was replaced by the global demographic aging in the modern period, which is the prerequisite of the severe deficit of the population possessing work capability. The first demographic deficit is complemented and substituted by the second demographic dividend which comprises the retirement age population. As a result of the aging of the population, the social price of the demographic deficit increases. This creates significant problems not only in allocating budgetary funds aimed at the healthcare and social care of the population, but also in the political and socio-economic development of the country. In order to solve the above-mentioned issue, scientists came up with the idea of establishing the newest field of economy in the form of “the silver economy”, which signifies the economy for and with the elderly individuals. The
2023-09-30
∘ Manuela Tvaronavičienė ∘ Arnoldas Tvaronavičius ∘
INSIGHTS INTO ECONOMIC DEVELOPMENT PECULIARITIES OF DIFFERENTLY DEVELOPED COUNTRIES: A CASE STUDY OF LITHUANIA AND NORWAY[1]
Abstract. The paper tackles comparison issues of differently developed countries. Conventionally, countries with certain indicated similarities, e.g. level of development, size, resource endowment or other, are being juxtaposed. We raise a task to measure selected aspects of two differently developed countries, specifically Lithuania and Norway. The countries are considered representatives of the Baltic States and Nordic countries. The aim of such comparison is two-fold: the first, to show the complexity of such comparison, and the second, to introduce to a broader audience a project - The Economic Integration of the Nordic-Baltic Region Through Labour, Innovation, Investments and Trade (LIFT), Project contract with the Research Council of Lithuania (LMT) No is S-BMT-21-7 (LT08-2-LMT-K-01-070), Iceland, Liechtenstein and Norway grants https://eeagrants.org/, which is recently under implementation. The formulated insights will trigger the launch of new similar projects, facilitating
2023-09-30
INSIGHTS INTO ECONOMIC DEVELOPMENT PECULIARITIES OF DIFFERENTLY DEVELOPED COUNTRIES: A CASE STUDY OF LITHUANIA AND NORWAY[1]
Abstract. The paper tackles comparison issues of differently developed countries. Conventionally, countries with certain indicated similarities, e.g. level of development, size, resource endowment or other, are being juxtaposed. We raise a task to measure selected aspects of two differently developed countries, specifically Lithuania and Norway. The countries are considered representatives of the Baltic States and Nordic countries. The aim of such comparison is two-fold: the first, to show the complexity of such comparison, and the second, to introduce to a broader audience a project - The Economic Integration of the Nordic-Baltic Region Through Labour, Innovation, Investments and Trade (LIFT), Project contract with the Research Council of Lithuania (LMT) No is S-BMT-21-7 (LT08-2-LMT-K-01-070), Iceland, Liechtenstein and Norway grants https://eeagrants.org/, which is recently under implementation. The formulated insights will trigger the launch of new similar projects, facilitating
2023-09-30
∘ Anatoly Shevchuс ∘
ESG – ATOOLFORTHEACHIEVEMENTOFTHEGOALSOF SUSTAINABLE ENVIRONMENTAL DEVELOPMENT
Abstract The principles of environmental, social and corporate governance (ESG) are actively entering the Russian market. The ESG follows the UN Sustainable Development Goals for the period 2015-2030 and refers to the three main factors in measuring the sustainability, environmental friendliness and social impact of investments in a company or business. The Bank of Russia sent for application recommendations on how the board of directors of a public joint stock company should take into account ESG factors, as well as sustainable development issues. A number of other banks and development institutions, including VEB and Sberbank, are actively implementing ESG factors in their practice. Further development of ESG factors requires scientific analysis and practical recommendations. Keywords. ESG-factors, sustainable development goals, banks, green financing,
2023-09-30
ESG – ATOOLFORTHEACHIEVEMENTOFTHEGOALSOF SUSTAINABLE ENVIRONMENTAL DEVELOPMENT
Abstract The principles of environmental, social and corporate governance (ESG) are actively entering the Russian market. The ESG follows the UN Sustainable Development Goals for the period 2015-2030 and refers to the three main factors in measuring the sustainability, environmental friendliness and social impact of investments in a company or business. The Bank of Russia sent for application recommendations on how the board of directors of a public joint stock company should take into account ESG factors, as well as sustainable development issues. A number of other banks and development institutions, including VEB and Sberbank, are actively implementing ESG factors in their practice. Further development of ESG factors requires scientific analysis and practical recommendations. Keywords. ESG-factors, sustainable development goals, banks, green financing,
2023-09-30
∘ Teimuraz Shengelia ∘
THE ACCORDANCE OF HIGHER EDUCATION SYSTEM WITHTHEREQUIREMENTS OF THE LABOR MARKET
Abstract In the present study, we have analyzed the possibilities of reorganizing higher education in accordance with the requirements of the labor market. The general trends characterizing the compatibility of education and work force in Europe and Georgia are studied in the paper. In order to coordinatet he development trends of the higher education system, the paper analyzes: Ensuring the balance of supply of human resources and demand for this resource in the workforce market; Competence sof graduate sof higher education, compliance with market requirements and the role of higher education in ensuring social mobility and social equality. The analysis of the returns of education and the indicators of relative benefit according to the level sof education gave us the opportunity to develop the recommendations that can be the basis of the country's state policy in the field of
2023-09-30
THE ACCORDANCE OF HIGHER EDUCATION SYSTEM WITHTHEREQUIREMENTS OF THE LABOR MARKET
Abstract In the present study, we have analyzed the possibilities of reorganizing higher education in accordance with the requirements of the labor market. The general trends characterizing the compatibility of education and work force in Europe and Georgia are studied in the paper. In order to coordinatet he development trends of the higher education system, the paper analyzes: Ensuring the balance of supply of human resources and demand for this resource in the workforce market; Competence sof graduate sof higher education, compliance with market requirements and the role of higher education in ensuring social mobility and social equality. The analysis of the returns of education and the indicators of relative benefit according to the level sof education gave us the opportunity to develop the recommendations that can be the basis of the country's state policy in the field of
2023-09-30
∘ Anna Chechel ∘ Hanna Reshetova ∘ Svetlana Verytelnyk ∘
SOCIAL ENTREPRENEURSHIP AS AN ECONOMIC TOOL FOR PROMOTING SOCIAL VALUES IN PUBLIC ADMINISTRATION
Abstract. The purpose of this work is to consider social entrepreneurship as a tool to promote social values in public administration, as well as the basis for the functioning of social entrepreneurship, its role in ensuring social stability and sustainable development of society. The main objective is to draw attention to the importance of social entrepreneurship in public administration and show its potential as a tool to promote social values and achieve sustainable development of society. Keywords: social entrepreneurship, public administration, social values, social problems. In today's world, social entrepreneurship is one of the fastest growing sectors of the economy. As the experience of many countries shows, social entrepreneurship can be an effective tool for solving social problems and promoting social values. In the context of public administration, social entrepreneurship can be seen as a tool for promoting social values and solving social problems, since the
2023-09-30
SOCIAL ENTREPRENEURSHIP AS AN ECONOMIC TOOL FOR PROMOTING SOCIAL VALUES IN PUBLIC ADMINISTRATION
Abstract. The purpose of this work is to consider social entrepreneurship as a tool to promote social values in public administration, as well as the basis for the functioning of social entrepreneurship, its role in ensuring social stability and sustainable development of society. The main objective is to draw attention to the importance of social entrepreneurship in public administration and show its potential as a tool to promote social values and achieve sustainable development of society. Keywords: social entrepreneurship, public administration, social values, social problems. In today's world, social entrepreneurship is one of the fastest growing sectors of the economy. As the experience of many countries shows, social entrepreneurship can be an effective tool for solving social problems and promoting social values. In the context of public administration, social entrepreneurship can be seen as a tool for promoting social values and solving social problems, since the
2023-09-30
∘ Mikheil Chikviladze ∘
THE STATE BUDGET, ECONOMIC GROTH, STATE DEBT, TAXES – THE CHALLENGES IN 2023
Abstract The main challenges of Georgia in 2023 are the reduction of the budget deficit and the state debt, which should be accompanied by the stability of economic growth and tax revenue mobilization. It is necessary to reduce the high-interest domestic debt, the servicing of which is a prerequisite for the increase in budget expenditures. In order to increase the efficiency of spending funds from the state budget, the process of correctly drawing up the program budget requires to be carried out effective
2023-09-30
THE STATE BUDGET, ECONOMIC GROTH, STATE DEBT, TAXES – THE CHALLENGES IN 2023
Abstract The main challenges of Georgia in 2023 are the reduction of the budget deficit and the state debt, which should be accompanied by the stability of economic growth and tax revenue mobilization. It is necessary to reduce the high-interest domestic debt, the servicing of which is a prerequisite for the increase in budget expenditures. In order to increase the efficiency of spending funds from the state budget, the process of correctly drawing up the program budget requires to be carried out effective
2023-09-30
∘ Revaz Javakhishvili ∘
JAPANS SOCIAL SECURITY EXPERIENCE
Abstract Despite the recent fluctuations and difficulties in the Japanese economy, it has still maintained high levels of well-being, in which the social insurance system of the population, which consists of three main links, plays an important role: pension provision; Medical insurance; Material support of certain categories of citizens (elderly, disabled, single mothers, low-income families with small children, people suffering from severe senility, etc.). Sources of financing of individual links of social security, features of their formation and functioning, advantages and disadvantages are analyzed in the paper. Sharing the Japanese experience in the field of social security will be of great help to both developed and developing countries, including in achieving a high level of social security of the population of Georgia and social security of the
2023-09-30
JAPANS SOCIAL SECURITY EXPERIENCE
Abstract Despite the recent fluctuations and difficulties in the Japanese economy, it has still maintained high levels of well-being, in which the social insurance system of the population, which consists of three main links, plays an important role: pension provision; Medical insurance; Material support of certain categories of citizens (elderly, disabled, single mothers, low-income families with small children, people suffering from severe senility, etc.). Sources of financing of individual links of social security, features of their formation and functioning, advantages and disadvantages are analyzed in the paper. Sharing the Japanese experience in the field of social security will be of great help to both developed and developing countries, including in achieving a high level of social security of the population of Georgia and social security of the
2023-09-30
∘ Murmam Bliadze ∘ Nodar Bliadze ∘ Lizi Tchelidze ∘
DEVELOPMENT OF DIGITAL ECONOMY IN GEORGIA
Absract It is known that in the 21st century, modern technologies are establishing themselves in almost all fields. Digital technologies significantly improve the growth of the potential of human capabilities. The establishment of digital technologies is taking place at the fastest pace in the world, mainly in developed countries. The article presents the current trends in the world related to the development of modern technologies: what influence do modern technologies and innovations have on the development of the digital economy and how does the digital economy respond to the economic challenges in the world; Based on the data of the National Statistical Service of Georgia, the steps taken in Georgia in the direction of the development of the digital economy have been analyzed. The development of the digital economy is the fastest and most effective way for the country. Development of digital economy is a vitally important process for Georgia. To what extent Georgia follows modern
2023-09-30
DEVELOPMENT OF DIGITAL ECONOMY IN GEORGIA
Absract It is known that in the 21st century, modern technologies are establishing themselves in almost all fields. Digital technologies significantly improve the growth of the potential of human capabilities. The establishment of digital technologies is taking place at the fastest pace in the world, mainly in developed countries. The article presents the current trends in the world related to the development of modern technologies: what influence do modern technologies and innovations have on the development of the digital economy and how does the digital economy respond to the economic challenges in the world; Based on the data of the National Statistical Service of Georgia, the steps taken in Georgia in the direction of the development of the digital economy have been analyzed. The development of the digital economy is the fastest and most effective way for the country. Development of digital economy is a vitally important process for Georgia. To what extent Georgia follows modern
2023-09-30
∘ Teimuraz Gogokhia ∘ Maia Tchintcharauli ∘
CONCERNING FIRMS’ MARKETING STRATEGY MODELS
Abstract The article identifies differences in the understanding of terms such as “strategic marketing” and “marketing strategy”. Some widely used (both in the relevant literature and in practical activities) models of marketing strategies of companies, their characteristics, features and differences are considered. A classification of models of marketing strategies based on certain characteristics and properties is given, as well as examples of successful companies that apply appropriate marketing strategies to achieve their goals. Keywords: :marketing, strategy,
2023-09-30
CONCERNING FIRMS’ MARKETING STRATEGY MODELS
Abstract The article identifies differences in the understanding of terms such as “strategic marketing” and “marketing strategy”. Some widely used (both in the relevant literature and in practical activities) models of marketing strategies of companies, their characteristics, features and differences are considered. A classification of models of marketing strategies based on certain characteristics and properties is given, as well as examples of successful companies that apply appropriate marketing strategies to achieve their goals. Keywords: :marketing, strategy,
2023-09-30
∘ Ketevan Kitsmarishvili ∘
THE ROLE OF INNOVATIVE TECHNOLOGIES IN ECONOMY
Abstract It is impossible to imagine XXI century without modern technology. It is time, when our life is connected to digital technologies, social networks. In todays world, any field, education, business, human relationships, everything connects with technologies. Technologies have changed peoples worldview. They affect our memory, attention, have great impact on children as well as on a person of any age. More technology is being developed and more things are invented by humans, life of people became more difficult. At first glance modern technologies make peoples lives easier and save their time, but today a human cannot have free time, he/she will immediately start a new job. Besides, his/her life requires more and more expenses so he/she looks for additional income. Nowadays, in the circumstances of rapid diffusion of globalization and technological knowledge firms have to adopt more innovations and increase technological abilities. This can be realized by
2023-09-30
THE ROLE OF INNOVATIVE TECHNOLOGIES IN ECONOMY
Abstract It is impossible to imagine XXI century without modern technology. It is time, when our life is connected to digital technologies, social networks. In todays world, any field, education, business, human relationships, everything connects with technologies. Technologies have changed peoples worldview. They affect our memory, attention, have great impact on children as well as on a person of any age. More technology is being developed and more things are invented by humans, life of people became more difficult. At first glance modern technologies make peoples lives easier and save their time, but today a human cannot have free time, he/she will immediately start a new job. Besides, his/her life requires more and more expenses so he/she looks for additional income. Nowadays, in the circumstances of rapid diffusion of globalization and technological knowledge firms have to adopt more innovations and increase technological abilities. This can be realized by
2023-09-30
∘ Tamar Lazariashvili ∘
DEVELOPMENT TRENDS AND INSURANCE RISKS OF THE GEORGIAN INSURANCE MARKET
Abstract In the modern phase, the functioning and importance of the insurance sector is increasing, which increases the demand for it and affects the economic well-being of the country. Today, almost any type of risk is insurable if it is subject to insurance. The article examines the development trends and insurance risks of the insurance market of Georgia, assesses the main aspects of state regulation of insurance business, justifies the need to develop legislative acts in coordination with the state and insurance companies, prepare and retrain personnel, protect the market from monopolies and develop the stock market for the investment of capital raised by companies. The article establishes the need to provide the population with many types of insurance, since offering one or two types of products weakens competition, it is important to increase the share of life insurance, where life insurance and pension funds have the greatest investment potential of the insurance
2023-09-30
DEVELOPMENT TRENDS AND INSURANCE RISKS OF THE GEORGIAN INSURANCE MARKET
Abstract In the modern phase, the functioning and importance of the insurance sector is increasing, which increases the demand for it and affects the economic well-being of the country. Today, almost any type of risk is insurable if it is subject to insurance. The article examines the development trends and insurance risks of the insurance market of Georgia, assesses the main aspects of state regulation of insurance business, justifies the need to develop legislative acts in coordination with the state and insurance companies, prepare and retrain personnel, protect the market from monopolies and develop the stock market for the investment of capital raised by companies. The article establishes the need to provide the population with many types of insurance, since offering one or two types of products weakens competition, it is important to increase the share of life insurance, where life insurance and pension funds have the greatest investment potential of the insurance
2023-09-30
∘ Zurab Lipartia ∘ Besik Sherazadishvili ∘
STRATEGIC PRIORITIES FOR IMPROVING THE EFFECTIVENESS OF CORPORATE MANAGEMENT IN GEORGIA
Abstract The globalization trends of the world civilization and the requirements of the post-industrial society led to radical changes in the political, socio-economic and innovative-technological development of countries, which determined the aspects of economic policy formation of individual states in the context of sustainable development of the economy, which are related to the coordinated and effective development of individual economic entities: corporations, firms with functionality. At the modern stage, the conditions of the transition to market relations put an increased demand on the analysis of economic thinking, because it is a tool for the study of the functioning of corporations, management and control, and the identification and implementation of internal hidden reserves. Based on the analytical evaluation of the research results, the necessity of perfecting the organizational-economic mechanisms of corporate management effectiveness in Georgia is
2023-09-30
STRATEGIC PRIORITIES FOR IMPROVING THE EFFECTIVENESS OF CORPORATE MANAGEMENT IN GEORGIA
Abstract The globalization trends of the world civilization and the requirements of the post-industrial society led to radical changes in the political, socio-economic and innovative-technological development of countries, which determined the aspects of economic policy formation of individual states in the context of sustainable development of the economy, which are related to the coordinated and effective development of individual economic entities: corporations, firms with functionality. At the modern stage, the conditions of the transition to market relations put an increased demand on the analysis of economic thinking, because it is a tool for the study of the functioning of corporations, management and control, and the identification and implementation of internal hidden reserves. Based on the analytical evaluation of the research results, the necessity of perfecting the organizational-economic mechanisms of corporate management effectiveness in Georgia is
2023-09-30
∘ Merab Mikelashvili ∘
MBA THESIS PREPARATION/DISSERTATION ASPECTS
Abstract The Georgian Educational System is facing the need of Master level education stated by the Bologna Declaration. For more than a decade, Georgia has had the standard Bachelor-Master-Doctor system. Gained experience shows the need to revise the principles of Masters programs, because the main task is to create qualified scientific and entrepreneurial professionals. Creating a master dissertation (thesis) is one of the most important stages, which should be an output of independent and discrete scientific research. The word dissertation is derived from Latin Dissertatio, which means discussion, research. A Master thesis is a concrete sort of dissertation; Master's degree is not scientific, it is academic and is the pre-step of Doctor’s degree. Masters research aims to unleash the scientific potential of the candidate, help develop individual scientific organizing skills, problem-solving skills, research data analysis, argumentation and recommending
2023-09-30
MBA THESIS PREPARATION/DISSERTATION ASPECTS
Abstract The Georgian Educational System is facing the need of Master level education stated by the Bologna Declaration. For more than a decade, Georgia has had the standard Bachelor-Master-Doctor system. Gained experience shows the need to revise the principles of Masters programs, because the main task is to create qualified scientific and entrepreneurial professionals. Creating a master dissertation (thesis) is one of the most important stages, which should be an output of independent and discrete scientific research. The word dissertation is derived from Latin Dissertatio, which means discussion, research. A Master thesis is a concrete sort of dissertation; Master's degree is not scientific, it is academic and is the pre-step of Doctor’s degree. Masters research aims to unleash the scientific potential of the candidate, help develop individual scientific organizing skills, problem-solving skills, research data analysis, argumentation and recommending
2023-09-30
∘ Ilia (Aziko) Sisvadze ∘
THEORETICAL AND METHODOLOGICAL-METHODICAL PROBLEMS OF A RADICAL REFORM OF THE TAX SYSTEM OF GEORGIA IN SOCIAL ECONOMY CONDITIONS
Abstract The series of works, where the problems of radical reformation of the tax system of Georgia in the conditions of social economy are investigated. It discusses in a logical sequence: the conceptual foundations of tax regulation of the social economy, the full functionalization of individual taxes taking into account macroeconomic priorities and by assigning a social and economic-regulatory role, for individual large-scale forms of business, optimization of the tax burden based on new approaches, the author's economic-mathematical model of private optimization of tax rates and
2023-09-30
THEORETICAL AND METHODOLOGICAL-METHODICAL PROBLEMS OF A RADICAL REFORM OF THE TAX SYSTEM OF GEORGIA IN SOCIAL ECONOMY CONDITIONS
Abstract The series of works, where the problems of radical reformation of the tax system of Georgia in the conditions of social economy are investigated. It discusses in a logical sequence: the conceptual foundations of tax regulation of the social economy, the full functionalization of individual taxes taking into account macroeconomic priorities and by assigning a social and economic-regulatory role, for individual large-scale forms of business, optimization of the tax burden based on new approaches, the author's economic-mathematical model of private optimization of tax rates and
2023-09-30
∘ Maia Chinchaladze ∘ Lela Botchoidze ∘
CHANGES IN RENT, VAT AND ACCOUNTING DURING THE PANDEMIC
Abstract Fiscal policy in the field of taxes and expenditures is a set of decisions made by the state. Discretionary fiscal policy - means changes in taxes and government spending in the face of a boom or recession. The state implements them through two instruments: the budget process and the tax code. Fiscal policy is of two types - expansive and restrictive. It is the expansionary fiscal policy - the reduction of taxes or the increase of government spending to stimulate aggregate demand - that the government applies when the country is in recession, to fight unemployment and
2023-09-30
CHANGES IN RENT, VAT AND ACCOUNTING DURING THE PANDEMIC
Abstract Fiscal policy in the field of taxes and expenditures is a set of decisions made by the state. Discretionary fiscal policy - means changes in taxes and government spending in the face of a boom or recession. The state implements them through two instruments: the budget process and the tax code. Fiscal policy is of two types - expansive and restrictive. It is the expansionary fiscal policy - the reduction of taxes or the increase of government spending to stimulate aggregate demand - that the government applies when the country is in recession, to fight unemployment and
2023-09-30
∘ Khaliana Chitadze ∘
SOME ISSUES OF RECOGNITION OF STRUCTURES
Abstract In the article, we analyze the separate points of recognition of assets from long-term contracts in accordance with IFRS 15. In particular, the recognition of income and expenses during the long-term delivery of goods and services, the methods of evaluating the quality of performance of the obligations to be fulfilled, the recognition and assessment of the current obligation provided for in the contract as an installment, the costs of the contract and others are discussed. The standard establishes the basic principles that the enterprise must use to recognize one of the important elements of financial reporting in order to present the necessary information on the nature, size, timing and uncertainty of the cash flows resulting from the contract signed with the customer in the financial reporting. The implementation of IFRS 15 and the new rules for recognition of assets have a minimal impact on some enterprises, but in many companies the new standard may change the
2023-09-30
SOME ISSUES OF RECOGNITION OF STRUCTURES
Abstract In the article, we analyze the separate points of recognition of assets from long-term contracts in accordance with IFRS 15. In particular, the recognition of income and expenses during the long-term delivery of goods and services, the methods of evaluating the quality of performance of the obligations to be fulfilled, the recognition and assessment of the current obligation provided for in the contract as an installment, the costs of the contract and others are discussed. The standard establishes the basic principles that the enterprise must use to recognize one of the important elements of financial reporting in order to present the necessary information on the nature, size, timing and uncertainty of the cash flows resulting from the contract signed with the customer in the financial reporting. The implementation of IFRS 15 and the new rules for recognition of assets have a minimal impact on some enterprises, but in many companies the new standard may change the
2023-09-30
∘ Marine Tsutskiridze ∘
DEVELOPMENT AND SECURITY PROBLEMS OF MICROECONOMIC SYSTEMS IN GEORGIA
Abstract The paper discusses the microeconomic development process of Georgia and the main elements of its security system, modern opportunities for expanding its production and
2023-09-30
DEVELOPMENT AND SECURITY PROBLEMS OF MICROECONOMIC SYSTEMS IN GEORGIA
Abstract The paper discusses the microeconomic development process of Georgia and the main elements of its security system, modern opportunities for expanding its production and
2023-09-30
∘ Merab Julakidze ∘
ANATOMY OF MONOPOLY POWER
Abstract In a monopoly, the firm controls the entire market and is aware of the demand curve for its products. It uses this information to determine the optimal production level, which in turn sets the price. However, in a perfectly competitive market, the individual decisions of firms regarding production levels have no impact on the overall market. The research focuses on the monopolist's decision regarding the production level, and it demonstrates that the monopolist can establish either the price or the production level, but not both simultaneously. Generally, it is presumed that a monopolist selects the production level with the goal of maximizing profit, and the market price is then determined accordingly. Key words: Monopoly power, Equilibrium under monopoly, Game theory, Lerner index, Price
2023-09-30
ANATOMY OF MONOPOLY POWER
Abstract In a monopoly, the firm controls the entire market and is aware of the demand curve for its products. It uses this information to determine the optimal production level, which in turn sets the price. However, in a perfectly competitive market, the individual decisions of firms regarding production levels have no impact on the overall market. The research focuses on the monopolist's decision regarding the production level, and it demonstrates that the monopolist can establish either the price or the production level, but not both simultaneously. Generally, it is presumed that a monopolist selects the production level with the goal of maximizing profit, and the market price is then determined accordingly. Key words: Monopoly power, Equilibrium under monopoly, Game theory, Lerner index, Price
2023-09-30
∘ Victor Ababii ∘
BANKING BUSINESS MODEL ANALYSIS – METHODOLOGICAL APPROACH
Abstract. The analysis of the international experience assumes that the economic growth of a state is based on a well-developed banking system, oriented to an intensive risk-based supervision, to an evaluation of macroeconomic factors as well as to the evaluation of the impact it brings on the risks to which financial institutions are subject to. Evaluation of the banking business model with the aim of maximizing profit under the regulatory conditions imposed by the supervisor. Defining the elements of a banking business model and identifying risk that can result both from internal factors (such as inefficient design or pricing of key products, inadequate targets, reliance on an unrealistic strategy, excessive concentrations of risk, poor financing and capital structures or insufficient execution capabilities) and external factors (such as a challenging economic environment or a changed competitive landscape). The definition of a clear methodology for evaluating the banking business
2023-09-30
BANKING BUSINESS MODEL ANALYSIS – METHODOLOGICAL APPROACH
Abstract. The analysis of the international experience assumes that the economic growth of a state is based on a well-developed banking system, oriented to an intensive risk-based supervision, to an evaluation of macroeconomic factors as well as to the evaluation of the impact it brings on the risks to which financial institutions are subject to. Evaluation of the banking business model with the aim of maximizing profit under the regulatory conditions imposed by the supervisor. Defining the elements of a banking business model and identifying risk that can result both from internal factors (such as inefficient design or pricing of key products, inadequate targets, reliance on an unrealistic strategy, excessive concentrations of risk, poor financing and capital structures or insufficient execution capabilities) and external factors (such as a challenging economic environment or a changed competitive landscape). The definition of a clear methodology for evaluating the banking business
2023-09-30
∘ Ramaz Abesadze ∘ Eter Kakulia ∘ Nana Bibilashvili ∘ Qristine (Ketevan) Kuratashvili ∘
SUSTAINABLE DEVELOPMENT AND THE IMPACT OF THE PANDEMIC ON THE ACHIEVEMENT OF ITS GOALS
Abstract The pandemic has had a negative impact on almost all of the Goals of Sustainable Development and threatened their implementation. This was caused due to the fact that, as a result of the pandemic: the economy experienced a significant recession, a decrease in income, an increase in poverty, unemployment and famine, deepening in inequality within and between countries, worsening of sanitary standards, deterioration of infrastructure and environmental conditions, significant disruptions in the systems of healthcare, education, science and in the realization of innovational plans, universal access to reliable, stable and modern energy, improving human well-being in the final report. It is highly likely that most of the Sustainable Development Goals will not be met by 2030, despite significant
2023-09-30
SUSTAINABLE DEVELOPMENT AND THE IMPACT OF THE PANDEMIC ON THE ACHIEVEMENT OF ITS GOALS
Abstract The pandemic has had a negative impact on almost all of the Goals of Sustainable Development and threatened their implementation. This was caused due to the fact that, as a result of the pandemic: the economy experienced a significant recession, a decrease in income, an increase in poverty, unemployment and famine, deepening in inequality within and between countries, worsening of sanitary standards, deterioration of infrastructure and environmental conditions, significant disruptions in the systems of healthcare, education, science and in the realization of innovational plans, universal access to reliable, stable and modern energy, improving human well-being in the final report. It is highly likely that most of the Sustainable Development Goals will not be met by 2030, despite significant
2023-09-30
∘ Tamila Arnania-Kepuladze ∘ Giorgi Kepuladze ∘
GENDER SPECIFICITIES OF MANAGEMENT AND ECONOMIC DEVELOPMENT
Abstract There is no doubt today that the gender composition of persons in leadership positions to a large extent predetermines the possibility of making gender-balanced decisions, which ultimately contributes to the achievement of more effective socio-economic results of society. Despite the long-standing aspiration for gender equality and the continuous increase in the role and participation of women in economic life, despite the undoubted improvement in the legal status of women, real gender equality is far from the stated goals. This study aims to examine the representation of men and women in leadership positions in leading economic, political and scientific organizations in Europe. The results of the study include the representation of men and women in the European Parliament and National Parliaments of European countries, in the decision-making bodies of the National Academies of Sciences and research funding organizations, as well as in European financial institutions such
2023-09-30
GENDER SPECIFICITIES OF MANAGEMENT AND ECONOMIC DEVELOPMENT
Abstract There is no doubt today that the gender composition of persons in leadership positions to a large extent predetermines the possibility of making gender-balanced decisions, which ultimately contributes to the achievement of more effective socio-economic results of society. Despite the long-standing aspiration for gender equality and the continuous increase in the role and participation of women in economic life, despite the undoubted improvement in the legal status of women, real gender equality is far from the stated goals. This study aims to examine the representation of men and women in leadership positions in leading economic, political and scientific organizations in Europe. The results of the study include the representation of men and women in the European Parliament and National Parliaments of European countries, in the decision-making bodies of the National Academies of Sciences and research funding organizations, as well as in European financial institutions such
2023-09-30
∘ George Bregvadze ∘
THE ROLE OF FOREIGN DIRECT INVESTMENTS IN GEORGIA
Abstract The paper discusses the role of foreign direct investments in Georgia and their importance, analyzes the data on the impact of foreign direct investments in Georgia according to countries and economic
2023-09-30
THE ROLE OF FOREIGN DIRECT INVESTMENTS IN GEORGIA
Abstract The paper discusses the role of foreign direct investments in Georgia and their importance, analyzes the data on the impact of foreign direct investments in Georgia according to countries and economic
2023-09-30
∘ Tamaz Gamsakhurdia ∘ Teimuraz Pestvenidze ∘
MANAGING THE EMPLOYMENT OF HUMAN RESOURCES
Abstract The paper shows that Georgia is a state which is based on democratic principles, with a good geopolitical location, rich traditions, diverse natural and mineral resources. As a result of their effective and reasonable use, it is possible to become one of the successful and attractive countries. It is also emphasized that the main and urgent task of the government should be to reinforce the strength of the country and increase the well-being of the population, which depends on the reasonable, correctly calculated policies and targeted strategies of the government. Necessity requires the authorities to interest the population in order for Georgia to receive the status of the European Union. Achieving these goals is prevented by both global (world pandemic and economic problems) and domestic processes and many other factors, such as political, socioeconomic, conflict situation between neighbouring countries, serious mistakes and gaps in the field of education and
2023-09-30
MANAGING THE EMPLOYMENT OF HUMAN RESOURCES
Abstract The paper shows that Georgia is a state which is based on democratic principles, with a good geopolitical location, rich traditions, diverse natural and mineral resources. As a result of their effective and reasonable use, it is possible to become one of the successful and attractive countries. It is also emphasized that the main and urgent task of the government should be to reinforce the strength of the country and increase the well-being of the population, which depends on the reasonable, correctly calculated policies and targeted strategies of the government. Necessity requires the authorities to interest the population in order for Georgia to receive the status of the European Union. Achieving these goals is prevented by both global (world pandemic and economic problems) and domestic processes and many other factors, such as political, socioeconomic, conflict situation between neighbouring countries, serious mistakes and gaps in the field of education and
2023-09-30
∘ Madona Gelashvili ∘
THE CONCEPT OF GREEN DEVELOPMENT OF THE NATIONAL ECONOMY – GREEN ECONOMY AND GREEN DEVELOPMENT IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT
The sustainable development means such kind of form of economic growth, which provides the well-being of the society with short, medium and, which is most important long term time. It is based on the principle according to which the demands of today should be satisfied so that it shouldn’t make any danger for the future generations. The sustainable development means creation of the terms for the long-term economic development taking into account maximal issued of the environmental protection. With sustainable development is in tight connection the conception of “Green Economy”, which was implemented in the frame of the plan of strategic development of the country. The conception of “Green” economy – is new vector of sustainable development. In particular “Green” is economy which not only will rise the well-being of humans and approves the social justice, but also decreases the human risks and deficit of ecological resources. Georgia
2023-09-30
THE CONCEPT OF GREEN DEVELOPMENT OF THE NATIONAL ECONOMY – GREEN ECONOMY AND GREEN DEVELOPMENT IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT
The sustainable development means such kind of form of economic growth, which provides the well-being of the society with short, medium and, which is most important long term time. It is based on the principle according to which the demands of today should be satisfied so that it shouldn’t make any danger for the future generations. The sustainable development means creation of the terms for the long-term economic development taking into account maximal issued of the environmental protection. With sustainable development is in tight connection the conception of “Green Economy”, which was implemented in the frame of the plan of strategic development of the country. The conception of “Green” economy – is new vector of sustainable development. In particular “Green” is economy which not only will rise the well-being of humans and approves the social justice, but also decreases the human risks and deficit of ecological resources. Georgia
2023-09-30
∘ Maya Gonashvili ∘ Lali Sreseli ∘
MODERN CHALLENGES OF OVERCOMING STRUCTURAL UNEMPLOYMENT IN THE SHIDA KARTLI REGION (ON THE EXAMPLE OF THE GORI MUNICIPALITY)
Abstract Sustainable development e Today, this is one of the main challenges for the economic economy of developing countries, including for Georgia and the municipality of Gori, in order to study these issues, we conducted a study in the municipality of Gori and according to the results of the survey, we can discuss the main trends in the attitude of the population regarding unemployment and their attitude towards the development of one - One way to reduce unemployment - entrepreneurship, the need for professional training and overcoming the role of district leadership Key words: unemployment; Roads to overcome unemployment, employment; Reasons for
2023-09-30
MODERN CHALLENGES OF OVERCOMING STRUCTURAL UNEMPLOYMENT IN THE SHIDA KARTLI REGION (ON THE EXAMPLE OF THE GORI MUNICIPALITY)
Abstract Sustainable development e Today, this is one of the main challenges for the economic economy of developing countries, including for Georgia and the municipality of Gori, in order to study these issues, we conducted a study in the municipality of Gori and according to the results of the survey, we can discuss the main trends in the attitude of the population regarding unemployment and their attitude towards the development of one - One way to reduce unemployment - entrepreneurship, the need for professional training and overcoming the role of district leadership Key words: unemployment; Roads to overcome unemployment, employment; Reasons for
2023-09-30
∘ Nata Davlasheridze ∘ Shota Tvauri ∘
FINANCIAL INSTRUMENTS FOR TECHNOLOGICAL DEVELOPMENT – KEY TRENDS AND CONTRADICTIONS
Abstract. The task of finding effective forms and instruments of financial policy that ensure sustainable technological growth of the economy is currently facing all developed and developing countries. However, finance was not usually considered as a key factor of a progress. The analysis showed that a new approach to the stock market is currently needed, which should ensure the redistribution of profits in the interests of society, that is, in favor of the results from state investments in science and intellectual property, but not venture capital, as well as the adjustment of patent regulation. The task was set to create private-state investment funds focused on a technological breakthrough, primarily on the construction of specialized infrastructure. Finally, the paper notes that the solution of these problems is possible only through the tools of digital financial instruments. Key words - private investment funds, technological portfolios of intellectual rights, financial
2023-09-30
FINANCIAL INSTRUMENTS FOR TECHNOLOGICAL DEVELOPMENT – KEY TRENDS AND CONTRADICTIONS
Abstract. The task of finding effective forms and instruments of financial policy that ensure sustainable technological growth of the economy is currently facing all developed and developing countries. However, finance was not usually considered as a key factor of a progress. The analysis showed that a new approach to the stock market is currently needed, which should ensure the redistribution of profits in the interests of society, that is, in favor of the results from state investments in science and intellectual property, but not venture capital, as well as the adjustment of patent regulation. The task was set to create private-state investment funds focused on a technological breakthrough, primarily on the construction of specialized infrastructure. Finally, the paper notes that the solution of these problems is possible only through the tools of digital financial instruments. Key words - private investment funds, technological portfolios of intellectual rights, financial
2023-09-30
∘ Lia Dvalishvili ∘ SOPIO DAVITASHVILI ∘
ENVIRONMENTAL PROTECTION – ONE OF THE DETERMINING FACTORS OF THE NEW PLANETARY ORDER
Abstract The environment is the most important factor and driving force of human development. It provides the population of the world with vital resources. Human impact on nature degrades land, air and water resources. The world's growing population has an increasing impact on land and natural resources. In many cases, clean water is a rarity, forests are disappearing, and biodiversity is under threat. Understanding that the countries of the world will not be able to protect themselves from adverse environmental changes with their own resources has an impact on geopolitics and global governance. At the modern stage, the pollution of the environment with the wastes of human activities (chemical and radiation) is particularly noteworthy on the entire planetary situation. First of all, it has a noticeable effect on the health of the population, especially in large cities, and it catastrophically reduces the places that are desirable for living and recreation. Ecologically
2023-09-30
ENVIRONMENTAL PROTECTION – ONE OF THE DETERMINING FACTORS OF THE NEW PLANETARY ORDER
Abstract The environment is the most important factor and driving force of human development. It provides the population of the world with vital resources. Human impact on nature degrades land, air and water resources. The world's growing population has an increasing impact on land and natural resources. In many cases, clean water is a rarity, forests are disappearing, and biodiversity is under threat. Understanding that the countries of the world will not be able to protect themselves from adverse environmental changes with their own resources has an impact on geopolitics and global governance. At the modern stage, the pollution of the environment with the wastes of human activities (chemical and radiation) is particularly noteworthy on the entire planetary situation. First of all, it has a noticeable effect on the health of the population, especially in large cities, and it catastrophically reduces the places that are desirable for living and recreation. Ecologically
2023-09-30
∘ Saftar Valizada Vali ∘
THE BUDGET POLICY AND STRUCTURE OF THE STATE BUDGET OF ARMENIA
Abstract. The analysis of the structure of the budget expenditures of Armenia suggests that Armenia allocates funds from the budget expenditures mainly to the maintenance of the state structure, military expenditures and provision of social protection of the population. Both the volume and the share of budget expenses of these directions have increased in the last ten years. The increase in the share of these directions in the budget expenses suggests that the governments of Armenia felt the need to direct a larger part of the budget expenses to these directions every year in order to solve the existing problems in these directions. Armenia's increase in military spending once again proves that it is pursuing an occupation policy. In the last ten years, the military expenditures made up to one-sixth of the budget expenditures. Armenia's budget spending has made it one of the most militarized countries in the world. Thus, in the report prepared in 2022 by the "Bonn International Center
2023-09-30
THE BUDGET POLICY AND STRUCTURE OF THE STATE BUDGET OF ARMENIA
Abstract. The analysis of the structure of the budget expenditures of Armenia suggests that Armenia allocates funds from the budget expenditures mainly to the maintenance of the state structure, military expenditures and provision of social protection of the population. Both the volume and the share of budget expenses of these directions have increased in the last ten years. The increase in the share of these directions in the budget expenses suggests that the governments of Armenia felt the need to direct a larger part of the budget expenses to these directions every year in order to solve the existing problems in these directions. Armenia's increase in military spending once again proves that it is pursuing an occupation policy. In the last ten years, the military expenditures made up to one-sixth of the budget expenditures. Armenia's budget spending has made it one of the most militarized countries in the world. Thus, in the report prepared in 2022 by the "Bonn International Center
2023-09-30
∘ Nato Kakashvili ∘ Khatuna Barbakadze ∘ Natia Kakhniashvili ∘
IMPACT OF COVID-19 ON PROPERTY INSURANCE FINANCIAL PERFORMANCE
Abstract In the conditions of the market economy, insurance products have gained special importance, because despite the technological development, natural disasters, illness, accidents and other unforeseen events have always harmed people, and insurance will significantly reduce the losses caused by natural events, such as floods, earthquakes and other disasters. Insurance allows us to avoid losses caused by financial obligations, protect ourselves from losses caused by non-payment of receivables. Insurance is a reliable and reliable property protection mechanism. The need for property insurance has always been there, especially in Georgia, where citizens put personal property above health. Keywords: insurance company; insurer; property insurance; insurance contract; insurance services; Franchise, fire insurance; cargo insurance; Motor vehicle
2023-09-30
IMPACT OF COVID-19 ON PROPERTY INSURANCE FINANCIAL PERFORMANCE
Abstract In the conditions of the market economy, insurance products have gained special importance, because despite the technological development, natural disasters, illness, accidents and other unforeseen events have always harmed people, and insurance will significantly reduce the losses caused by natural events, such as floods, earthquakes and other disasters. Insurance allows us to avoid losses caused by financial obligations, protect ourselves from losses caused by non-payment of receivables. Insurance is a reliable and reliable property protection mechanism. The need for property insurance has always been there, especially in Georgia, where citizens put personal property above health. Keywords: insurance company; insurer; property insurance; insurance contract; insurance services; Franchise, fire insurance; cargo insurance; Motor vehicle
2023-09-30
∘ Nazira Kakaulia ∘
THE IMPACT OF MONETARY POLICY ON INCOME INEQUALITY THEORETICAL ASPECTS
Abstract The article talks about the essence of income inequality and the politics of its reduction in the conditions of confrontational globalization. Also discussed are a number of problems related to income inequality during financial crises. Неравенство договов deepens the level of poverty and exacerbates social problems that have a clear impact on the prosperity, development and future of the country. Modern society is involved in globalization, which, in turn, affects countries both positively and negatively. Research shows that the policy aimed at leveling inequality is often inadequate to the current situation and requires revision. In the conditions of confrontational globalization, when the economies of countries are considered as one big world economy, this requires a complex approach. Key Words: Monetary policy, inequality, confrontational
2023-09-30
THE IMPACT OF MONETARY POLICY ON INCOME INEQUALITY THEORETICAL ASPECTS
Abstract The article talks about the essence of income inequality and the politics of its reduction in the conditions of confrontational globalization. Also discussed are a number of problems related to income inequality during financial crises. Неравенство договов deepens the level of poverty and exacerbates social problems that have a clear impact on the prosperity, development and future of the country. Modern society is involved in globalization, which, in turn, affects countries both positively and negatively. Research shows that the policy aimed at leveling inequality is often inadequate to the current situation and requires revision. In the conditions of confrontational globalization, when the economies of countries are considered as one big world economy, this requires a complex approach. Key Words: Monetary policy, inequality, confrontational
2023-09-30
∘ Lia Kozmanashvili ∘
SOME PROBLEMS OF THE GEORGIAN TAX SYSTEM IN THE POST-PANDEMIC PERIOD
Abstract It is widely known that the study of the problems of the tax system is of special importance and is a topical issue of all time in the effective functioning of the society and the state. Studying and investigating the problems in the tax system and then looking for ways to solve these problems was important in the post-Soviet period, then it became more relevant in the conditions of the coronavirus (COVID-19) pandemic, and the need to solve it became even more relevant and important in the post-pandemic period. Since the pandemic, which lasted for quite a long time, caused great damage not only to Georgia, but also to the world economy as a whole. Based on the above, in the post-pandemic period, it is especially relevant to develop a perspective view of the tax system and ways to improve this system, for which undoubtedly great importance is attached, on the one hand, to the development of ways to improve the tax system in the direction of solving the problem of economic
2023-09-30
SOME PROBLEMS OF THE GEORGIAN TAX SYSTEM IN THE POST-PANDEMIC PERIOD
Abstract It is widely known that the study of the problems of the tax system is of special importance and is a topical issue of all time in the effective functioning of the society and the state. Studying and investigating the problems in the tax system and then looking for ways to solve these problems was important in the post-Soviet period, then it became more relevant in the conditions of the coronavirus (COVID-19) pandemic, and the need to solve it became even more relevant and important in the post-pandemic period. Since the pandemic, which lasted for quite a long time, caused great damage not only to Georgia, but also to the world economy as a whole. Based on the above, in the post-pandemic period, it is especially relevant to develop a perspective view of the tax system and ways to improve this system, for which undoubtedly great importance is attached, on the one hand, to the development of ways to improve the tax system in the direction of solving the problem of economic
2023-09-30
∘ Ana Kurtanidze ∘ Nino Darsavelidze ∘
THE PROBLEMS OF CASH PAYMENTS DURING THE PANDEMIC AND THE POTENTIAL OF FINTECH
Abstract Banks appeared in Europe in the 15th century. For a long time, this industry has hardly changed. Know-how has not only changed customer relationships, but also forced bankers to change their business models. In 1958, Visa created the first payment system. Nine years later, Barclays Bank installed the first ATM in London. In the 1990s, the triumphant march of Internet and mobile banking began, resulting in the first online bank in Detroit in 2008. The following year, thanks to the blockchain, the ambitious "baby" Bitcoin was born, challenging the world of money. In the 21st century, scientific and technological progress has accelerated. With large-scale investments in biometric authentication. Smartphones have fundamentally changed the infrastructure of transfers and
2023-09-30
THE PROBLEMS OF CASH PAYMENTS DURING THE PANDEMIC AND THE POTENTIAL OF FINTECH
Abstract Banks appeared in Europe in the 15th century. For a long time, this industry has hardly changed. Know-how has not only changed customer relationships, but also forced bankers to change their business models. In 1958, Visa created the first payment system. Nine years later, Barclays Bank installed the first ATM in London. In the 1990s, the triumphant march of Internet and mobile banking began, resulting in the first online bank in Detroit in 2008. The following year, thanks to the blockchain, the ambitious "baby" Bitcoin was born, challenging the world of money. In the 21st century, scientific and technological progress has accelerated. With large-scale investments in biometric authentication. Smartphones have fundamentally changed the infrastructure of transfers and
2023-09-30
∘ Ana Lapachi ∘
PROBLEMS AND PRIORITIES RELATED TO YOUTH EMPLOYMENT
Abstract Problems related to the employment of young people do not lose their relevance. The difficulties of the current period concern this category of the population the most. Employment of young people and providing them with adequate wages and working conditions is an important economic challenge of all countries. Limited number of jobs, low pay, hard and sometimes non-normative work discourage part of young people. Instead of strengthening the national economy, they care about employment abroad. International organizations and governments are trying to develop policies that support youth employment. Sharing of successful practical results will benefit Georgia. The article discusses the current situation in Georgia regarding youth employment and unemployment. Employed young people increase material and spiritual production, also contribute to solving social problems, increasing the productivity of the labor force and mitigating demographic problems for
2023-09-30
PROBLEMS AND PRIORITIES RELATED TO YOUTH EMPLOYMENT
Abstract Problems related to the employment of young people do not lose their relevance. The difficulties of the current period concern this category of the population the most. Employment of young people and providing them with adequate wages and working conditions is an important economic challenge of all countries. Limited number of jobs, low pay, hard and sometimes non-normative work discourage part of young people. Instead of strengthening the national economy, they care about employment abroad. International organizations and governments are trying to develop policies that support youth employment. Sharing of successful practical results will benefit Georgia. The article discusses the current situation in Georgia regarding youth employment and unemployment. Employed young people increase material and spiritual production, also contribute to solving social problems, increasing the productivity of the labor force and mitigating demographic problems for
2023-09-30
∘ Gela Lobjanidze ∘
WORLD AND GEORGIAN ECONOMY TRENDS AND DEVELOPMENT PROSPECTS IN THE PERIOD AND CONDITIONS OF THE GLOBAL PANDEMIC AND THE RUSSIA−UKRAINE WAR
Abstract Thus, the impact of the COVID-19 pandemic and the Russia-Ukraine crisis on the global economy are real and can be said to be external shocks for most countries in the world, which affect their socio-economic indicators, socio-political situation and change the global geopolitical perspective. The development of the world economy at the current stage is connected with the manifestation of certain trends and the emergence of a number of contradictions between various subjects, which have a significant impact on the formation of the world order in the future and depends on the implementation of a reasonable and successful monetary and fiscal policy, the course of the Russia-Ukraine war, the global economy, developed market economy on the perspective of economic growth of emerging and developing countries. The unprecedented impact of the COVID-19 pandemic, compounded by the Russia-Ukraine war, is likely to continue to shape global discourse and cooperation, directing it
2023-09-30
WORLD AND GEORGIAN ECONOMY TRENDS AND DEVELOPMENT PROSPECTS IN THE PERIOD AND CONDITIONS OF THE GLOBAL PANDEMIC AND THE RUSSIA−UKRAINE WAR
Abstract Thus, the impact of the COVID-19 pandemic and the Russia-Ukraine crisis on the global economy are real and can be said to be external shocks for most countries in the world, which affect their socio-economic indicators, socio-political situation and change the global geopolitical perspective. The development of the world economy at the current stage is connected with the manifestation of certain trends and the emergence of a number of contradictions between various subjects, which have a significant impact on the formation of the world order in the future and depends on the implementation of a reasonable and successful monetary and fiscal policy, the course of the Russia-Ukraine war, the global economy, developed market economy on the perspective of economic growth of emerging and developing countries. The unprecedented impact of the COVID-19 pandemic, compounded by the Russia-Ukraine war, is likely to continue to shape global discourse and cooperation, directing it
2023-09-30
∘ Dali Magrakvelidze ∘
DEFICIENCIES OF INVESTMENT RISK ASSESSMENT METHODS AND THE NEED TO DEVELOP A NEW APPROACH
Abstract Only studying the types of risk related to investment projects does not give results, it is necessary to evaluate and manage them. The risk management system must be rigorous, practical and consistent with the strategic goals of the investor, which leads to maximum profit. Many risk assessment models based on different methods are used in practice. Existing methods have a drawback related to the existence of a large amount of statistical material required for their
2023-09-30
DEFICIENCIES OF INVESTMENT RISK ASSESSMENT METHODS AND THE NEED TO DEVELOP A NEW APPROACH
Abstract Only studying the types of risk related to investment projects does not give results, it is necessary to evaluate and manage them. The risk management system must be rigorous, practical and consistent with the strategic goals of the investor, which leads to maximum profit. Many risk assessment models based on different methods are used in practice. Existing methods have a drawback related to the existence of a large amount of statistical material required for their
2023-09-30
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
SOCIAL SECURITY ISSUES OF THE WORLD AND NATIONAL ECONOMY (ON THE EXAMPLE OF THE USA AND GEORGIA)
Abstract The work is dedicated to such an acute problem for today as social security, which is the most important component of the national security of any country. It is indicated that national security as the most important task was mentioned for the first time at the beginning of XX century - in 1904 by T. Roosevelt regarding the Panama Canal. The paper provides a definition of social security; its causes as of the problem; System of indicators. The work is done on the example of USA and Georgia. The economic and legal acts of social policy, which regulate social policy in these countries, are discussed. Provision of social security of both countries is discussed according to points and their analysis is carried out on the basis of numerical data of recent
2023-09-30
SOCIAL SECURITY ISSUES OF THE WORLD AND NATIONAL ECONOMY (ON THE EXAMPLE OF THE USA AND GEORGIA)
Abstract The work is dedicated to such an acute problem for today as social security, which is the most important component of the national security of any country. It is indicated that national security as the most important task was mentioned for the first time at the beginning of XX century - in 1904 by T. Roosevelt regarding the Panama Canal. The paper provides a definition of social security; its causes as of the problem; System of indicators. The work is done on the example of USA and Georgia. The economic and legal acts of social policy, which regulate social policy in these countries, are discussed. Provision of social security of both countries is discussed according to points and their analysis is carried out on the basis of numerical data of recent
2023-09-30
∘ Nino Mikiashvili ∘
MAIN AREAS OF POVERTY MODELING
Abstract Poverty as a problem is complex and multifaceted. It is evaluated according to several criteria. It is essential that the assessment system adequately reflects the actual situation of the particular country or region. This is why it is so important to use modeling method for analysis and prediction of poverty. There are several basic poverty models, methods and indices. A variety of models and methods for assessing poverty are due to circumstances that arise in a particular time and space. In force majeure or completely harmless situations, the socially unprotected population faces greater negative risks than the rest of the population. Policymakers and regulators should try to identify existing threats in the short and long term and develop policies to mitigate the reality. When modeling, it is desirable to include features that include social heterogeneity. In addition, the cooperation of economists and other sociologists in improving the modeling process is
2023-09-30
MAIN AREAS OF POVERTY MODELING
Abstract Poverty as a problem is complex and multifaceted. It is evaluated according to several criteria. It is essential that the assessment system adequately reflects the actual situation of the particular country or region. This is why it is so important to use modeling method for analysis and prediction of poverty. There are several basic poverty models, methods and indices. A variety of models and methods for assessing poverty are due to circumstances that arise in a particular time and space. In force majeure or completely harmless situations, the socially unprotected population faces greater negative risks than the rest of the population. Policymakers and regulators should try to identify existing threats in the short and long term and develop policies to mitigate the reality. When modeling, it is desirable to include features that include social heterogeneity. In addition, the cooperation of economists and other sociologists in improving the modeling process is
2023-09-30
∘ Marina Muchiashvili ∘ Qristine Kupatadze ∘
STATISTICAL ASSESSMENT OF THE IMPACT OF COVID-19 ON SUSTAINABILITY OF GOVERNMENT DEBT OF GEORGIA
Abstract In order to assess debt sustainability of Georgia, the paper examines in detail the structure of the state budget's revenues, the state budget's payments.. The paper assesses the values of different fiscal sustainability indicators. In particular, the values of creditworthiness indicators- external debt/GDP, external debt/exports and external debt/budget revenues, as well as liquidity indicators- debt service/exports, debt service/budget revenues, are calculated and the extent to which these indicators satisfy the debt requirements for sustainability. Using statistical methods, the impact of the pandemic on debt is studied in the paper. The papa assess the impact of real GDP growth rate shock, interest rate shock, primary balance shock and nominal exchange rate shock on the debt sustainability. Key words: Fiscal sustainability, Government debt
2023-09-30
STATISTICAL ASSESSMENT OF THE IMPACT OF COVID-19 ON SUSTAINABILITY OF GOVERNMENT DEBT OF GEORGIA
Abstract In order to assess debt sustainability of Georgia, the paper examines in detail the structure of the state budget's revenues, the state budget's payments.. The paper assesses the values of different fiscal sustainability indicators. In particular, the values of creditworthiness indicators- external debt/GDP, external debt/exports and external debt/budget revenues, as well as liquidity indicators- debt service/exports, debt service/budget revenues, are calculated and the extent to which these indicators satisfy the debt requirements for sustainability. Using statistical methods, the impact of the pandemic on debt is studied in the paper. The papa assess the impact of real GDP growth rate shock, interest rate shock, primary balance shock and nominal exchange rate shock on the debt sustainability. Key words: Fiscal sustainability, Government debt
2023-09-30
∘ Zurab Nozadze ∘
ISSUES OF IMPROVING THE USE AND PROTECTION OF WATER RESOURCES
Abstract The article discusses the current situation and importance of water resources in the development of the country's economy; The problems of using and spending water resources and measures of its use are analyzed. The rights and duties of water users and the role of the state in terms of their control are given. Specific proposals on the use of water resources, protection, water quality, water supply, hygienic and sanitary norms are discussed. It is given about the role of public law legal entities and local self-government bodies for the rational use of water resources, improvement of protection and solving existing
2023-09-30
ISSUES OF IMPROVING THE USE AND PROTECTION OF WATER RESOURCES
Abstract The article discusses the current situation and importance of water resources in the development of the country's economy; The problems of using and spending water resources and measures of its use are analyzed. The rights and duties of water users and the role of the state in terms of their control are given. Specific proposals on the use of water resources, protection, water quality, water supply, hygienic and sanitary norms are discussed. It is given about the role of public law legal entities and local self-government bodies for the rational use of water resources, improvement of protection and solving existing
2023-09-30
∘ Tamila Nutsubidze ∘ Khatuna Nutsubidze ∘
CHALLENGES OF PROVIDING PENSION COVERAGE TO ALL: PUBLIC EXPOSURE TO DEMOGRAPHIC FISCAL RISKS IN GEORGIA
Abstract.The article reviews analytical literature on the demographic challenges worldwide. It is aimed at contributing to the debate over the increasing necessity to improve social security of elderly workers both in developed and developing countries. The ways to make government-led pension systems sustainable should be discussed further. The challenges related to the fiscal risks associated with the public pension system in Georgia are also discussed. Key words: population aging, demographic challenges, pensions, social protection, fiscal risks Population ageing as a global demographic trend has already influenced social processes, patterns and structures such as labor, family, work and employment, etc. The relevant literature concludes that population ageing is due to increasing longevity; low and below-replacement rate fertility and, also emigration trends that significantly impacts in particular smaller countries, for instance in Eastern Europe (OECD, 2013). Nowadays
2023-09-30
CHALLENGES OF PROVIDING PENSION COVERAGE TO ALL: PUBLIC EXPOSURE TO DEMOGRAPHIC FISCAL RISKS IN GEORGIA
Abstract.The article reviews analytical literature on the demographic challenges worldwide. It is aimed at contributing to the debate over the increasing necessity to improve social security of elderly workers both in developed and developing countries. The ways to make government-led pension systems sustainable should be discussed further. The challenges related to the fiscal risks associated with the public pension system in Georgia are also discussed. Key words: population aging, demographic challenges, pensions, social protection, fiscal risks Population ageing as a global demographic trend has already influenced social processes, patterns and structures such as labor, family, work and employment, etc. The relevant literature concludes that population ageing is due to increasing longevity; low and below-replacement rate fertility and, also emigration trends that significantly impacts in particular smaller countries, for instance in Eastern Europe (OECD, 2013). Nowadays
2023-09-30
∘ Nino Zhorzhikashvili ∘
USING A MACROPRUDENTIAL POLICY INSTRUMENT-STRESS-TESTING IN THE BANKING-FINANCIAL SECTOR
Abstract Achieving financial stability is a major challenge for any country, especially in the wake of the 2008 global financial crisis. A sound financial system creates the conditions for the economic development and economic goals of the country, therefore it is very important to identify the systemic risks causing the financial crisis and eliminate them. The 2008 global financial crisis once again raised the issue of more active use of macroprudential policies, in particular, this involves the effective use of the stress-test of the banking and financial sector, which is a simulation model and on the basis of which the future shock source can be identified and prevented, as far as possible. Keywords: Macroprudential policy, systemic risks,
2023-09-30
USING A MACROPRUDENTIAL POLICY INSTRUMENT-STRESS-TESTING IN THE BANKING-FINANCIAL SECTOR
Abstract Achieving financial stability is a major challenge for any country, especially in the wake of the 2008 global financial crisis. A sound financial system creates the conditions for the economic development and economic goals of the country, therefore it is very important to identify the systemic risks causing the financial crisis and eliminate them. The 2008 global financial crisis once again raised the issue of more active use of macroprudential policies, in particular, this involves the effective use of the stress-test of the banking and financial sector, which is a simulation model and on the basis of which the future shock source can be identified and prevented, as far as possible. Keywords: Macroprudential policy, systemic risks,
2023-09-30
∘ Dali Sologhashvili ∘ Tea Udesiani ∘ Tatia Udesiani ∘
THE CHALLENGES OF ACCOUNTING-REPORTING FOR THE SUSTAINABLE DEVELOPMENT OF AN ECONOMY
Abstract The article discusses the challenge of accounting-reporting arising from the requirements of the Corporate Sustainability Reporting Directive. Corporate sustainability reporting aims to strengthen the green economy, according to which the enterprises of the EU member states are obliged to prepare corporate sustainability reporting using the relevant standard. Georgia's interest in joining the European Union puts the requirements of the mentioned directive in the relevant legislative and regulatory documents. Keywords: global sustainability, sustainability risks and opportunities, climate
2023-09-30
THE CHALLENGES OF ACCOUNTING-REPORTING FOR THE SUSTAINABLE DEVELOPMENT OF AN ECONOMY
Abstract The article discusses the challenge of accounting-reporting arising from the requirements of the Corporate Sustainability Reporting Directive. Corporate sustainability reporting aims to strengthen the green economy, according to which the enterprises of the EU member states are obliged to prepare corporate sustainability reporting using the relevant standard. Georgia's interest in joining the European Union puts the requirements of the mentioned directive in the relevant legislative and regulatory documents. Keywords: global sustainability, sustainability risks and opportunities, climate
2023-09-30
∘ Beka Patsatsia ∘ Nino Kharebava ∘
INSTITUTIONAL AND ORGANIZATIONAL ASPECTS OF PUBLIC PROCUREMENT IN GEORGIA
Abstract.This article provides a thorough analysis of Georgia’s public procurement legal and institutional framework, focusing on its historical development and the need for reform. The primary goal is to analyze the legal and institutional framework of public procurement in Georgia and its evolution over time, and to identify its gaps and weaknesses. The author highlights the pivotal role of public procurement in shaping Georgia’s economy by allocating public funds, stimulating industrial growth, and fostering entrepreneurship. The article delves into the essential components of the public procurement system, including legal foundations, oversight mechanisms, procurement methods. It emphasizes the significance of a robust institutional environment for effective resource allocation and regulation in the public procurement sphere. The research identifies a continuous reform process aimed at aligning Georgia’s public procurement regulations with global standards. The
2023-09-30
INSTITUTIONAL AND ORGANIZATIONAL ASPECTS OF PUBLIC PROCUREMENT IN GEORGIA
Abstract.This article provides a thorough analysis of Georgia’s public procurement legal and institutional framework, focusing on its historical development and the need for reform. The primary goal is to analyze the legal and institutional framework of public procurement in Georgia and its evolution over time, and to identify its gaps and weaknesses. The author highlights the pivotal role of public procurement in shaping Georgia’s economy by allocating public funds, stimulating industrial growth, and fostering entrepreneurship. The article delves into the essential components of the public procurement system, including legal foundations, oversight mechanisms, procurement methods. It emphasizes the significance of a robust institutional environment for effective resource allocation and regulation in the public procurement sphere. The research identifies a continuous reform process aimed at aligning Georgia’s public procurement regulations with global standards. The
2023-09-30
∘ Ketevan Kveladze ∘ Medea Melashvili ∘ Nunu Kistauri ∘
IMPACT OF GLOBAL ENVIRONMENTAL PROBLEMS ON TOURISM SAFETY
Abstract The work is dedicated to one of the important problems for the existence of humanity, such as global environmental problems and its impact on the safety of tourism. The article discusses the main environmental problems that affect the tourism industry and its safety. The indicators of ecological safety are given, according to which the most acute ecological problems are identified: pollution of air, water, soil, reduction and disappearance of biodiversity, increase of risks of ecological disasters, etc.. The influence of climate change, post-pandemic and war period on tourism is shown. The paper also discusses the main causes of global ecological problems, risks that have a negative impact on the general indicators of tourism safety, general ways and trends of their elimination are indicated (an example of the concept of
2023-09-30
IMPACT OF GLOBAL ENVIRONMENTAL PROBLEMS ON TOURISM SAFETY
Abstract The work is dedicated to one of the important problems for the existence of humanity, such as global environmental problems and its impact on the safety of tourism. The article discusses the main environmental problems that affect the tourism industry and its safety. The indicators of ecological safety are given, according to which the most acute ecological problems are identified: pollution of air, water, soil, reduction and disappearance of biodiversity, increase of risks of ecological disasters, etc.. The influence of climate change, post-pandemic and war period on tourism is shown. The paper also discusses the main causes of global ecological problems, risks that have a negative impact on the general indicators of tourism safety, general ways and trends of their elimination are indicated (an example of the concept of
2023-09-30
∘ Nunu Kistauri
ENVIRONMENTAL SECURITY ISSUES OF THE WORLD AND NATIONAL ECONOMY (ON THE EXAMPLE OF CHINA AND GEORGIA)
Abstract The work is dedicated to a first-class problem for any country in the world, such as: environmental security, and it is noted that it is one of the main components of national security. Here is an exhaustive definition of this problem, its components, systems of indicators. The paper discusses the causes that have a negative effect on the general indicators of ecological safety, and the ways of their elimination are indicated. The work is done on the example of China and Georgia. The current situation of environmental security in these countries is discussed, and the future plans set by the governments of each of them are given. This analysis is made on the basis of a fairly extensive statistical digital material. Based on the analysis of the mentioned problems both in Georgia and China, relevant generalized conclusions are made in the
2023-09-30
ENVIRONMENTAL SECURITY ISSUES OF THE WORLD AND NATIONAL ECONOMY (ON THE EXAMPLE OF CHINA AND GEORGIA)
Abstract The work is dedicated to a first-class problem for any country in the world, such as: environmental security, and it is noted that it is one of the main components of national security. Here is an exhaustive definition of this problem, its components, systems of indicators. The paper discusses the causes that have a negative effect on the general indicators of ecological safety, and the ways of their elimination are indicated. The work is done on the example of China and Georgia. The current situation of environmental security in these countries is discussed, and the future plans set by the governments of each of them are given. This analysis is made on the basis of a fairly extensive statistical digital material. Based on the analysis of the mentioned problems both in Georgia and China, relevant generalized conclusions are made in the
2023-09-30
∘ Ketevan Shengelia ∘
BUSINESS CHALLENGESAND IMPACT OF THE GLOBAL PANDEMIC ON THE GEORGIAN ECONOMY
Abstract The shock of the pandemic has considerably impacted the outlook for economic growth in countries all around the world. This is particularly true in developing countries. The article analyzes how the living standards have deteriorated as a result of the pandemic. The rise in unemployment and inflation rates, which exacerbated poverty and property differentiation, is examined. The values and norms of the social system have changed radically, posing major threats to fundamental structures and necessitating critical decisions. Uncertainty and surprise are the two negative shocks that have befallen mankind as a whole. The world was hit by a global economic crisis, which resulted in a capital shortage. The paper substantiates the need for more diversification for the recovery of the Georgian economy.Tourism cannot be our sole source of income. Agriculture, industry, and service sectors should all be developed. Georgia's economic growth is heavily reliant on investment,
2023-09-30
BUSINESS CHALLENGESAND IMPACT OF THE GLOBAL PANDEMIC ON THE GEORGIAN ECONOMY
Abstract The shock of the pandemic has considerably impacted the outlook for economic growth in countries all around the world. This is particularly true in developing countries. The article analyzes how the living standards have deteriorated as a result of the pandemic. The rise in unemployment and inflation rates, which exacerbated poverty and property differentiation, is examined. The values and norms of the social system have changed radically, posing major threats to fundamental structures and necessitating critical decisions. Uncertainty and surprise are the two negative shocks that have befallen mankind as a whole. The world was hit by a global economic crisis, which resulted in a capital shortage. The paper substantiates the need for more diversification for the recovery of the Georgian economy.Tourism cannot be our sole source of income. Agriculture, industry, and service sectors should all be developed. Georgia's economic growth is heavily reliant on investment,
2023-09-30
∘ Leila Ghudushauril ∘
SELF-SERVICE BANKING IN GEORGIA: REALITY AND PERSPECTIVE
Abstract For commercial banks, the introduction of innovative technologies and projects is an integral part of the work process. As the discussed example of JSC Procredit Bank showed, despite the fact that the bank actively uses innovations in the process of banking services, at this stage, the transition to a self-service model is not a tool for competitiveness, because society is still lagging behind the pace of technological development, which can be overcomed over time. In 2018, the majority of Procredit Bank customers were not ready for the changes that the bank introduced. It is a fact that even today many bank customers prefer to visit a branch. Especially in the case of older people, it is difficult to change their behavior and switch to remote channels. In addition, the concept of Direct Bank in Procredit Bank JSC led to a reduction in staff over time. Also, for some clients, the lack of a physical connection and different approaches are unacceptable. However, innovation
2023-09-30
SELF-SERVICE BANKING IN GEORGIA: REALITY AND PERSPECTIVE
Abstract For commercial banks, the introduction of innovative technologies and projects is an integral part of the work process. As the discussed example of JSC Procredit Bank showed, despite the fact that the bank actively uses innovations in the process of banking services, at this stage, the transition to a self-service model is not a tool for competitiveness, because society is still lagging behind the pace of technological development, which can be overcomed over time. In 2018, the majority of Procredit Bank customers were not ready for the changes that the bank introduced. It is a fact that even today many bank customers prefer to visit a branch. Especially in the case of older people, it is difficult to change their behavior and switch to remote channels. In addition, the concept of Direct Bank in Procredit Bank JSC led to a reduction in staff over time. Also, for some clients, the lack of a physical connection and different approaches are unacceptable. However, innovation
2023-09-30
∘ Malkhaz Chikobava ∘
THE MODERN BANKING CRISIS AS A HARBINGER OF THE END OF THE ERA OF COMMERCIAL BANKS
Abstract The article examines the reasons for the bankruptcy of a number of US commercial banks (Silicon Valley Bank, Signature Bank, Silvergate Bank) in March 2023 and the possibility of an expected wave of a general banking crisis. Talk about the impending danger of a financial crisis began after the Federal Reserve began to tighten monetary policy in March last year, citing the need to contain record high inflation rates. It should be noted that such a policy has been severely criticized. First, because loans will become inaccessible and expensive for companies in the non-financial sector of the economy. Secondly, because many banks will begin to depreciate their own assets. The assets of aki-banks have been formed in recent years at the expense of treasury and mortgage-backed securities at very low interest rates (low, because the key rate of the US Federal Reserve was close to zero). When the Fed began to sharply raise its key rate last year (now it is 5.25%), long-term
2023-09-30
THE MODERN BANKING CRISIS AS A HARBINGER OF THE END OF THE ERA OF COMMERCIAL BANKS
Abstract The article examines the reasons for the bankruptcy of a number of US commercial banks (Silicon Valley Bank, Signature Bank, Silvergate Bank) in March 2023 and the possibility of an expected wave of a general banking crisis. Talk about the impending danger of a financial crisis began after the Federal Reserve began to tighten monetary policy in March last year, citing the need to contain record high inflation rates. It should be noted that such a policy has been severely criticized. First, because loans will become inaccessible and expensive for companies in the non-financial sector of the economy. Secondly, because many banks will begin to depreciate their own assets. The assets of aki-banks have been formed in recent years at the expense of treasury and mortgage-backed securities at very low interest rates (low, because the key rate of the US Federal Reserve was close to zero). When the Fed began to sharply raise its key rate last year (now it is 5.25%), long-term
2023-09-30
∘ Zurab Tsereteli ∘
ECONOMIC PROBLEMS CAUSED BY THE PANDEMIC AND THE ONGOING WAR IN UKRAINE AND THE FURTHER PROSPECTS
Abstract In the paper is represented the common economic problems, challenges and difficulties of the most countries during the pandemic and aftermath as well as those once that are based on the ongoing war in Ukraine. The focus is mainly made on the coronavirus (COVID 19) pandemic. The negative aspects that are common to most of the world's people are also reflected in the work. In inclusion are represented the prospects of development the world economy during the next period that are based on Corona virus and the war effects as well as some other implemented (or which will be implemented) measures. Key words: economic problems, impact of pandemic and war reflection on the world economy, economic challenges, global problems, economic crisis, recession, further
2023-09-30
ECONOMIC PROBLEMS CAUSED BY THE PANDEMIC AND THE ONGOING WAR IN UKRAINE AND THE FURTHER PROSPECTS
Abstract In the paper is represented the common economic problems, challenges and difficulties of the most countries during the pandemic and aftermath as well as those once that are based on the ongoing war in Ukraine. The focus is mainly made on the coronavirus (COVID 19) pandemic. The negative aspects that are common to most of the world's people are also reflected in the work. In inclusion are represented the prospects of development the world economy during the next period that are based on Corona virus and the war effects as well as some other implemented (or which will be implemented) measures. Key words: economic problems, impact of pandemic and war reflection on the world economy, economic challenges, global problems, economic crisis, recession, further
2023-09-30
∘ DAVID CHELIDZE ∘
DYNAMICS OF IMPORTANT MACROECONOMIC AND BUDGETARY PARAMETERS OF GEORGIA, EXISTING PROBLEMS, AND SOME DIRECTIONS FOR OVERCOMING THEM
Abstract One of the prerequisites for the stability of a country's financial system is to minimize financial risks caused by the uncontrolled growth of the state's (domestic and foreign) debt. In the first part of the study, the state of Georgia's (foreign and domestic) debt was examined, studied, and analyzed after the restoration of its independence from 1996 to 2023 using official statistical data. The dynamics of the growth of the "State External Debt of Georgia," as recorded in the laws of Georgia on the state budget, and the "Total External Debt of Georgia," calculated by the National Bank of Georgia based on the methodology of the International Monetary Fund, have been determined and analyzed in relation to the main macroeconomic parameters of the country. Based on the search and systematization of the annual budget allocations presented in the article of the reduction of liabilities (i.e., the amount intended for servicing previously taken debt(s)) in the laws of
2023-09-30
DYNAMICS OF IMPORTANT MACROECONOMIC AND BUDGETARY PARAMETERS OF GEORGIA, EXISTING PROBLEMS, AND SOME DIRECTIONS FOR OVERCOMING THEM
Abstract One of the prerequisites for the stability of a country's financial system is to minimize financial risks caused by the uncontrolled growth of the state's (domestic and foreign) debt. In the first part of the study, the state of Georgia's (foreign and domestic) debt was examined, studied, and analyzed after the restoration of its independence from 1996 to 2023 using official statistical data. The dynamics of the growth of the "State External Debt of Georgia," as recorded in the laws of Georgia on the state budget, and the "Total External Debt of Georgia," calculated by the National Bank of Georgia based on the methodology of the International Monetary Fund, have been determined and analyzed in relation to the main macroeconomic parameters of the country. Based on the search and systematization of the annual budget allocations presented in the article of the reduction of liabilities (i.e., the amount intended for servicing previously taken debt(s)) in the laws of
2023-09-30
∘ Lali Kharbedia ∘ Mzisadar Bzhalava ∘
USING PROBLEMS OF RESOURCE POTENTIAL OF GEORGIAS GEOPOLITICAL LOCATION, CONSIDERING THE RUSSIA - UKRAINE WAR
Abstract In the development of global economic processes, the role of geopolitical factors never was as great as today. Thats why we must consider it. not only as a simple confirmation of economic processes but as an active strategy, which are used by states on a global scale and use it as a textbook for act. In the condition of Russia - Ukraine war, which is expressed in radical confrontation between Russia and the west. As Russia has geopolitical ambitions, it still becomes actuale for our role and function in global and economic space, which is essential due to its geopolitical location. The Aim of the paper is the analysis of impact on economic development of geopolitical factors, considering the created reality, while opportunities to use resource potential of Georgias geopolitical location is growing more and more. Key words: geopolitics, geostrategy, global economy, geopolitical
2023-09-30
USING PROBLEMS OF RESOURCE POTENTIAL OF GEORGIAS GEOPOLITICAL LOCATION, CONSIDERING THE RUSSIA - UKRAINE WAR
Abstract In the development of global economic processes, the role of geopolitical factors never was as great as today. Thats why we must consider it. not only as a simple confirmation of economic processes but as an active strategy, which are used by states on a global scale and use it as a textbook for act. In the condition of Russia - Ukraine war, which is expressed in radical confrontation between Russia and the west. As Russia has geopolitical ambitions, it still becomes actuale for our role and function in global and economic space, which is essential due to its geopolitical location. The Aim of the paper is the analysis of impact on economic development of geopolitical factors, considering the created reality, while opportunities to use resource potential of Georgias geopolitical location is growing more and more. Key words: geopolitics, geostrategy, global economy, geopolitical
2023-09-30
∘ Giorgi Kharshiladze ∘
UKRAINE-RUSSIA WAR AND ECONOMY OF GEORGIA: RECENT SITUATION, CHALLENGES, DEGREE OF DEPENDENCE AND PERSPECTIVES
Abstract On February 2022, began war between Russia and Ukraine. From that period, the main economic trends for the world, as well as in Georgia, was determined by war situation. What kind of impact should war have on economic development both on internationally and on local levels depends on several factors. One of the most important is the duration of war. There also exists several other threats that affect should the world economy, including the economy of Georgia, which is territory small, but from strategic point of view can be considered as one of the most strategic players in the region. Due to some negative effect that war should have on economics, the economy of Georgia continued to increase, which was expressed in several ways. GDP increased by 10.1% compared to previous years. High economic growth was due to several important factors, in which we should highlight the increased exports of goods by 31.8%, increased foreign direct investment by 61%. A significant
2023-09-30
UKRAINE-RUSSIA WAR AND ECONOMY OF GEORGIA: RECENT SITUATION, CHALLENGES, DEGREE OF DEPENDENCE AND PERSPECTIVES
Abstract On February 2022, began war between Russia and Ukraine. From that period, the main economic trends for the world, as well as in Georgia, was determined by war situation. What kind of impact should war have on economic development both on internationally and on local levels depends on several factors. One of the most important is the duration of war. There also exists several other threats that affect should the world economy, including the economy of Georgia, which is territory small, but from strategic point of view can be considered as one of the most strategic players in the region. Due to some negative effect that war should have on economics, the economy of Georgia continued to increase, which was expressed in several ways. GDP increased by 10.1% compared to previous years. High economic growth was due to several important factors, in which we should highlight the increased exports of goods by 31.8%, increased foreign direct investment by 61%. A significant
2023-09-30
∘ Lali Khikhadze ∘
THE IMPACT OF THE RUSSIA-UKRAINE WAR ON THE ECONOMIC DEVELOPMENT OF THE WORLD AND GEORGIA
Abstract In the post-pandemic stage of 2022-2023, the world economy faced severe new challenges, as the economic stagnation and depression caused by the COVID-19 pandemic was compounded by the start of hostilities in Ukraine by the Russian Federation on February 24, 2022. The world civilized community imposed strict sanctions against Russia in order to deter aggression.At the same time, the difficulties for the economy of many countries of the world have worsened and reached a critical point. At the same time, the post-pandemic challenges were also accompanied by the problems characteristic of the global recession - the increase in prices and inflation levels, the decrease in investments, the fall in the exchange rate of the national currency, unemployment, the energy crisis, the increase in the price of real estate, the increase in the vulnerability of the population and other problems. At the modern stage, the post-pandemic challenges are significantly aggravated by the
2023-09-30
THE IMPACT OF THE RUSSIA-UKRAINE WAR ON THE ECONOMIC DEVELOPMENT OF THE WORLD AND GEORGIA
Abstract In the post-pandemic stage of 2022-2023, the world economy faced severe new challenges, as the economic stagnation and depression caused by the COVID-19 pandemic was compounded by the start of hostilities in Ukraine by the Russian Federation on February 24, 2022. The world civilized community imposed strict sanctions against Russia in order to deter aggression.At the same time, the difficulties for the economy of many countries of the world have worsened and reached a critical point. At the same time, the post-pandemic challenges were also accompanied by the problems characteristic of the global recession - the increase in prices and inflation levels, the decrease in investments, the fall in the exchange rate of the national currency, unemployment, the energy crisis, the increase in the price of real estate, the increase in the vulnerability of the population and other problems. At the modern stage, the post-pandemic challenges are significantly aggravated by the
2023-09-30
∘ Nino Jalaghonia ∘
PECULIARITIES OF EMPLOYMENT IN THE BANKING SECTOR
Abstract The paper presents a general overview of the commercial banking sector of Georgia, discusses what the banking sector is for the country's economy and what importance it has for society and the state. Also, there are highlighted advantages and disadvantages of working in the bank. In the process of working on the topic, research was conducted electronically through the computer program "Microsoft Forms". The results of the empirical research were analyzed and conclusions were drawn based on the analysis. Keywords: Commercial banking sector of Georgia, Banking sector, Employment in the bank, Empirical research, Labor
2023-09-30
PECULIARITIES OF EMPLOYMENT IN THE BANKING SECTOR
Abstract The paper presents a general overview of the commercial banking sector of Georgia, discusses what the banking sector is for the country's economy and what importance it has for society and the state. Also, there are highlighted advantages and disadvantages of working in the bank. In the process of working on the topic, research was conducted electronically through the computer program "Microsoft Forms". The results of the empirical research were analyzed and conclusions were drawn based on the analysis. Keywords: Commercial banking sector of Georgia, Banking sector, Employment in the bank, Empirical research, Labor
2023-09-30
∘ Vakhtang Burduli ∘
MECHANISMS OF ROBBERY OF INDUSTRIAL PROPERTY BY THE POST-SOVIET “ELITE”
Abstract This article is a logical continuation of the article [Burduli V., 2023], which, in particular, examines the processes of replacement (in different globalization periods in some countries) of national “elites” by Phoenician, that is, Jewish, and, to a certain extent, pun- vampire, "elites". The article examines the preceding events that ultimately contributed to the replacement of power structures by pun-vampires, as well as the processes of their seizure (and, a little, by the waiters serving them) for next to nothing industrial property and agricultural land in the countries of the post-Soviet space (mainly in the Russian Federation), their plunder of resources and placement of foreign exchange earnings received from their sale abroad, mainly in foreign depositories, acquisition of real estate, shares, etc. there. In particular, the methods of robbery of peoples by pun-vampires, the mechanisms for their transfer abroad of most of the profits received from
2023-09-03
MECHANISMS OF ROBBERY OF INDUSTRIAL PROPERTY BY THE POST-SOVIET “ELITE”
Abstract This article is a logical continuation of the article [Burduli V., 2023], which, in particular, examines the processes of replacement (in different globalization periods in some countries) of national “elites” by Phoenician, that is, Jewish, and, to a certain extent, pun- vampire, "elites". The article examines the preceding events that ultimately contributed to the replacement of power structures by pun-vampires, as well as the processes of their seizure (and, a little, by the waiters serving them) for next to nothing industrial property and agricultural land in the countries of the post-Soviet space (mainly in the Russian Federation), their plunder of resources and placement of foreign exchange earnings received from their sale abroad, mainly in foreign depositories, acquisition of real estate, shares, etc. there. In particular, the methods of robbery of peoples by pun-vampires, the mechanisms for their transfer abroad of most of the profits received from
2023-09-03
∘ Tamar Dolidze ∘
BASIC CRITERIA AND STAGES OF DEVELOPMENT OF THE REAL SECTOR OF THE ECONOMY
Abstract As a result of analyzing the sectoral structure of the real economy developed by the United Nations and the European Union, we developed the structure of the fundamental sectors of the real economy. We have determined the criteria of both the sectoral and economic nature of each industry. Based on the research, we determined the main stages and features of the development of the real economy, the definition of which is of fundamental importance, because the problems arising in the fields of the real economy can be solved rationally and consistently. Which will lead to the continuous and dynamic development of the real economy. Key words: sectoral structure of the real economy, productivity, added value, techno-economic
2023-09-30
BASIC CRITERIA AND STAGES OF DEVELOPMENT OF THE REAL SECTOR OF THE ECONOMY
Abstract As a result of analyzing the sectoral structure of the real economy developed by the United Nations and the European Union, we developed the structure of the fundamental sectors of the real economy. We have determined the criteria of both the sectoral and economic nature of each industry. Based on the research, we determined the main stages and features of the development of the real economy, the definition of which is of fundamental importance, because the problems arising in the fields of the real economy can be solved rationally and consistently. Which will lead to the continuous and dynamic development of the real economy. Key words: sectoral structure of the real economy, productivity, added value, techno-economic
2023-09-30
∘ Marina Endeladze ∘ Natia Tsiklauri ∘
THE IMPACT OF COVID-19 ON THE GLOBAL ECONOMY AND STATEINVESTMENTS IN THE HEALTHCARE SYSTEM
Abstract The global crisis caused by the Covid-19 pandemic has caused significant damage to both the country's economy and the healthcare system. Budgetary funds turned out to be a lever for fighting against the economic crisis. To mitigate the impact of the Covid-19 pandemic, it was important to implement measures that prioritized investments in the health sector and provided social assistance to the population, especially the most vulnerable. Rapid transition to strengthening health and social protection systems, promoting the private sector, maintaining financial stability, which is extremely important for human life. In overcoming the economic crisis, special importance is attached to the optimization of the tax mechanism, the establishment of a rational ratio between the fiscal and stimulating functions of taxes. In overcoming the economic crisis, optimization of the tax mechanism, establishment of a rational ratio between the fiscal and incentive functions of taxes is
2023-09-30
THE IMPACT OF COVID-19 ON THE GLOBAL ECONOMY AND STATEINVESTMENTS IN THE HEALTHCARE SYSTEM
Abstract The global crisis caused by the Covid-19 pandemic has caused significant damage to both the country's economy and the healthcare system. Budgetary funds turned out to be a lever for fighting against the economic crisis. To mitigate the impact of the Covid-19 pandemic, it was important to implement measures that prioritized investments in the health sector and provided social assistance to the population, especially the most vulnerable. Rapid transition to strengthening health and social protection systems, promoting the private sector, maintaining financial stability, which is extremely important for human life. In overcoming the economic crisis, special importance is attached to the optimization of the tax mechanism, the establishment of a rational ratio between the fiscal and stimulating functions of taxes. In overcoming the economic crisis, optimization of the tax mechanism, establishment of a rational ratio between the fiscal and incentive functions of taxes is
2023-09-30
∘ Giorgi Rizhvadze ∘
THE ROLE OF DIGITAL TRANSFORMATION IN THE ADOPTION OF RENEWABLE ENERGY SOURCES
Abstract In the modern world, the use of renewable energy sources is becoming more important day by day, and this transformation has a significant impact on both developing and transition economies, Georgia is not an exception, which is actively going through all the stages of transformation, transformations and innovation in the world. Due to its location, Georgia has a great potential in the way of transformation of energy efficiency with the principle of utilization of renewable energy sources. However, today's reality is completely different and Georgia still has only a small part of hydroelectric power plants and has recently begun to use non-traditional renewable energy sources such as wind and solar energy. Utilization of renewable energy sources and increase in generation will be an important step forward in the path of proper distribution of the country's energy resources and market diversification, therefore it is important to use the digitization process correctly
2023-09-30
THE ROLE OF DIGITAL TRANSFORMATION IN THE ADOPTION OF RENEWABLE ENERGY SOURCES
Abstract In the modern world, the use of renewable energy sources is becoming more important day by day, and this transformation has a significant impact on both developing and transition economies, Georgia is not an exception, which is actively going through all the stages of transformation, transformations and innovation in the world. Due to its location, Georgia has a great potential in the way of transformation of energy efficiency with the principle of utilization of renewable energy sources. However, today's reality is completely different and Georgia still has only a small part of hydroelectric power plants and has recently begun to use non-traditional renewable energy sources such as wind and solar energy. Utilization of renewable energy sources and increase in generation will be an important step forward in the path of proper distribution of the country's energy resources and market diversification, therefore it is important to use the digitization process correctly
2023-09-30
∘ Maia Soselia ∘ Mariam Ebralidze ∘ Tamar Rostiashvili ∘
AN INNOVATIVE APPROACH TO MEDICAL LOGISTICS
Abstract The purpose of the article is to research the aspects of medical logistics and to present its importance in the development of the country. The article analyzes the role of innovative activities and determines the effectiveness of using innovations in medical logistics. The basic competencies that a specialist working in medical logistics should have are evaluated. The requirements for the distribution of medical devices and medicines are discussed. Keywords: medical logistics, innovations, supply chain management, innovative approach,
2023-09-30
AN INNOVATIVE APPROACH TO MEDICAL LOGISTICS
Abstract The purpose of the article is to research the aspects of medical logistics and to present its importance in the development of the country. The article analyzes the role of innovative activities and determines the effectiveness of using innovations in medical logistics. The basic competencies that a specialist working in medical logistics should have are evaluated. The requirements for the distribution of medical devices and medicines are discussed. Keywords: medical logistics, innovations, supply chain management, innovative approach,
2023-09-30
∘ Goderdzi Tkeshelashvili ∘ Tamar Kiladze ∘
POSSIBILITIES OF USING GEORGIAS TRANSIT POTENTIAL
Abstract The article analyzes the geopolitical location of Georgia, the lack of access to the open sea, and the unprecedentedly increased traffic needs under the influence of the globalization of the world economy, which give Georgia one of the main transit functions not only for the bordering states, but also for the countries of Central Asia, China, Iran and Western Europe. Keywords: Economy, management, transit,
2023-09-30
POSSIBILITIES OF USING GEORGIAS TRANSIT POTENTIAL
Abstract The article analyzes the geopolitical location of Georgia, the lack of access to the open sea, and the unprecedentedly increased traffic needs under the influence of the globalization of the world economy, which give Georgia one of the main transit functions not only for the bordering states, but also for the countries of Central Asia, China, Iran and Western Europe. Keywords: Economy, management, transit,
2023-09-30
∘ Tengiz Kavtaradze ∘
WAYS OF EXPANDING THE PRODUCTION OF ORGANIC FOOD ON THE EXAMPLE OF SHIDA KAKHETI ANIMAL HUSBANDRY
Abstract The paper shows that the development of animal husbandry is organically connected with the existence of a solid food base. Agricultural enterprises should be continuously increased to improve the structure of cultivated areas. The crops that give the most abundant harvest and food unit should be sown preferentially. As a result of the research, it is clear that in 1983, compared to 1969, the increase in the area of grain-leguminous crops was mainly carried out by the increase of oat and corn crops, which should be considered the right direction of the increase in grain production. For the development of livestock farmers of Georgia, natural fodder pastures have been of great importance since ancient times, for example, in the valley of Khorkhi district of Dusheti district, where nomadic herding is well developed, in the spring, as soon as the grass grows, the population does not give food to pigs anymore, they chew the food they get with their
2023-09-30
WAYS OF EXPANDING THE PRODUCTION OF ORGANIC FOOD ON THE EXAMPLE OF SHIDA KAKHETI ANIMAL HUSBANDRY
Abstract The paper shows that the development of animal husbandry is organically connected with the existence of a solid food base. Agricultural enterprises should be continuously increased to improve the structure of cultivated areas. The crops that give the most abundant harvest and food unit should be sown preferentially. As a result of the research, it is clear that in 1983, compared to 1969, the increase in the area of grain-leguminous crops was mainly carried out by the increase of oat and corn crops, which should be considered the right direction of the increase in grain production. For the development of livestock farmers of Georgia, natural fodder pastures have been of great importance since ancient times, for example, in the valley of Khorkhi district of Dusheti district, where nomadic herding is well developed, in the spring, as soon as the grass grows, the population does not give food to pigs anymore, they chew the food they get with their
2023-09-30
∘ Shota Shaburishvili ∘ Natia Terterashvili ∘
OPPORTUNITIES AND CHALLENGES OF AGRIBUSINESS DIGITAL TRANSFORMATION IN GEORGIA
Abstract In the conditions of globalization, technological development has become comprehensive and has changed such a traditional field as agribusiness. Digital technologies and artificial intelligence capabilities accelerate business communications, enhance customer experience, help realize scientific potential and create new business models, which ultimately increases the operational efficiency of agribusiness. The paper discusses the impact of new technologies on agribusiness, highlights the main opportunities and challenges of the digital transformation of the agricultural sector. According to the Food and Agriculture Organization of the United Nations, the world population will reach 9.1 billion by 2050, and to feed that number of people, global food production will need to grow by 70%. For example, for Africa, which is projected to be home for about 2 billion people by then, farm productivity must accelerate at a faster rate than the global average to avoid
2023-09-30
OPPORTUNITIES AND CHALLENGES OF AGRIBUSINESS DIGITAL TRANSFORMATION IN GEORGIA
Abstract In the conditions of globalization, technological development has become comprehensive and has changed such a traditional field as agribusiness. Digital technologies and artificial intelligence capabilities accelerate business communications, enhance customer experience, help realize scientific potential and create new business models, which ultimately increases the operational efficiency of agribusiness. The paper discusses the impact of new technologies on agribusiness, highlights the main opportunities and challenges of the digital transformation of the agricultural sector. According to the Food and Agriculture Organization of the United Nations, the world population will reach 9.1 billion by 2050, and to feed that number of people, global food production will need to grow by 70%. For example, for Africa, which is projected to be home for about 2 billion people by then, farm productivity must accelerate at a faster rate than the global average to avoid
2023-09-30
∘ Giga Kharazi ∘
PERSPECTIVES OF THE DEVELOPMENT OF THE MIDDLE TRANSIT CORRIDOR PASSING THROUGH GEORGIA
Abstract The geopolitical location of Georgia is analyzed in the article, according to the favorable geopolitical location, Georgia has the opportunity to perform a kay function in the mentioned transit corridor, to deeply integrate its own transport logistics system into the international logistics system and thereby contribute to the overall economic development of the country. Keywords: Economy, management, transit,
2023-09-30
PERSPECTIVES OF THE DEVELOPMENT OF THE MIDDLE TRANSIT CORRIDOR PASSING THROUGH GEORGIA
Abstract The geopolitical location of Georgia is analyzed in the article, according to the favorable geopolitical location, Georgia has the opportunity to perform a kay function in the mentioned transit corridor, to deeply integrate its own transport logistics system into the international logistics system and thereby contribute to the overall economic development of the country. Keywords: Economy, management, transit,
2023-09-30
∘ Khatuna Berishvili ∘
DEVELOPMENT TRENDS AND THREATS OF GEORGIA-RUSSIA ECONOMIC RELATIONS IN THE CONDITIONS OF RUSSIA-UKRAINE WAR
Abstract The Russia-Ukraine war has made the issue of economic cooperation between Russia and Georgia more urgent. Historical experience shows that the dependence of Georgia's economy on Russia has repeatedly become an instrument of political pressure from this country. Based on this context, it is important for Georgia to diversify its markets, to focus more on western markets, which are distinguished by their dynamism and stability. A special threat is the expansion of the opportunities of the Russian oil market in Georgia, the increase of the share of Russian companies in the economy of Georgia. The state's economic policy and the declared course of integration with Europe should be reflected in the reduction of Russia's economic influence and the increase in the specific share of the European economy in Georgia, which is related to the political stability and economic growth of our
2023-09-30
DEVELOPMENT TRENDS AND THREATS OF GEORGIA-RUSSIA ECONOMIC RELATIONS IN THE CONDITIONS OF RUSSIA-UKRAINE WAR
Abstract The Russia-Ukraine war has made the issue of economic cooperation between Russia and Georgia more urgent. Historical experience shows that the dependence of Georgia's economy on Russia has repeatedly become an instrument of political pressure from this country. Based on this context, it is important for Georgia to diversify its markets, to focus more on western markets, which are distinguished by their dynamism and stability. A special threat is the expansion of the opportunities of the Russian oil market in Georgia, the increase of the share of Russian companies in the economy of Georgia. The state's economic policy and the declared course of integration with Europe should be reflected in the reduction of Russia's economic influence and the increase in the specific share of the European economy in Georgia, which is related to the political stability and economic growth of our
2023-09-30
∘ Naira Virsaladze ∘ Mavlina Kipiani ∘
INTERNATIONAL DIVISION OF LABOR – THE BASIS OF WORLD AND NATIONAL ECONOMIC DEVELOPMENT
Abstract The international division of labor went through many stages of development and covered the whole world, and since the 90s of the 20th century, it has changed radically. The growth of economic liberalism has significantly accelerated existing processes and widely promoted cooperation between countries, regardless of the level of development they are at. Along with this, it helps to solve a number of global processes and problems. The structure of the development of the world economy is changing, economic relations are implemented in a completely new way, a new order of world coexistence is in the process of being formed. Obviously, these processes were significantly influenced by the recent Covid-19 pandemic and the current process of the Russia-Ukraine war. Against the background of modern trends in the development of the world economy, important aspects of the national economy are facing new challenges. The main goal and task of Georgia is integration into the world
2023-09-30
INTERNATIONAL DIVISION OF LABOR – THE BASIS OF WORLD AND NATIONAL ECONOMIC DEVELOPMENT
Abstract The international division of labor went through many stages of development and covered the whole world, and since the 90s of the 20th century, it has changed radically. The growth of economic liberalism has significantly accelerated existing processes and widely promoted cooperation between countries, regardless of the level of development they are at. Along with this, it helps to solve a number of global processes and problems. The structure of the development of the world economy is changing, economic relations are implemented in a completely new way, a new order of world coexistence is in the process of being formed. Obviously, these processes were significantly influenced by the recent Covid-19 pandemic and the current process of the Russia-Ukraine war. Against the background of modern trends in the development of the world economy, important aspects of the national economy are facing new challenges. The main goal and task of Georgia is integration into the world
2023-09-30
∘ Vazha Zeikidze ∘ Tamar Kiladze
DEVELOPMENT OF THE EUROPEAN EXPERIENCE OF STATE PROCUREMENT ON THE WAY OF GEORGIAS INTEGRATION INTO THE EUROPEAN UNION
Abstract During the last period, the state procurement system of Georgia is actively developing in the direction of European standards that is quite a step forward in terms of European integration. In terms of transparency, the state procurement system of Georgia is one of the most advanced worldwide, but the procurement monitoring system needs to be significantly improved, because often suspicious contracts identified by the agency call into question the transparency and anti-corruption actions. Approaching the issue from the buyers point of view, preferring is to the signing of simplified tenders and contracts due to procedural simplicity, but it is necessary to introduce the standards specified in the European Directives on simplified procurement in Georgia, similarly to the countries of the European Union, as implemented by Lithuania, Latvia and the Czech Republic. In this direction, we consider it expedient to make some changes in the already prepared new draft law "On State
2023-09-30
DEVELOPMENT OF THE EUROPEAN EXPERIENCE OF STATE PROCUREMENT ON THE WAY OF GEORGIAS INTEGRATION INTO THE EUROPEAN UNION
Abstract During the last period, the state procurement system of Georgia is actively developing in the direction of European standards that is quite a step forward in terms of European integration. In terms of transparency, the state procurement system of Georgia is one of the most advanced worldwide, but the procurement monitoring system needs to be significantly improved, because often suspicious contracts identified by the agency call into question the transparency and anti-corruption actions. Approaching the issue from the buyers point of view, preferring is to the signing of simplified tenders and contracts due to procedural simplicity, but it is necessary to introduce the standards specified in the European Directives on simplified procurement in Georgia, similarly to the countries of the European Union, as implemented by Lithuania, Latvia and the Czech Republic. In this direction, we consider it expedient to make some changes in the already prepared new draft law "On State
2023-09-30
∘ Elene Zurabashvili ∘
MODERN TRENDS OF GLOBALIZATION IN INTERNATIONAL ECONOMIC RELATIONS
Abstract In the beginning, globalization was a term of purely economic content, very quickly it acquired a wide, global meaning and covered all spheres of public life. Globalization helps the development of countries, humanity in general, the formation of a free, democratic society worldwide. Georgia is mentally involved in the process of globalization. Globalization implies a new type of modern international economic relations in the world. It is a natural, accompanying process of the regular development of civilization. However, it is still manageable within certain limits. Therefore, we should use the advantages of globalization to our advantage and at the same time protect ourselves from its negative effects as much as possible. He does not recognize nationalism and only universal, absolute values are his priority. We should not allow equalization of people. There should be room for differences of opinion. Therefore, in the new era, modern trends of globalization in
2023-09-30
MODERN TRENDS OF GLOBALIZATION IN INTERNATIONAL ECONOMIC RELATIONS
Abstract In the beginning, globalization was a term of purely economic content, very quickly it acquired a wide, global meaning and covered all spheres of public life. Globalization helps the development of countries, humanity in general, the formation of a free, democratic society worldwide. Georgia is mentally involved in the process of globalization. Globalization implies a new type of modern international economic relations in the world. It is a natural, accompanying process of the regular development of civilization. However, it is still manageable within certain limits. Therefore, we should use the advantages of globalization to our advantage and at the same time protect ourselves from its negative effects as much as possible. He does not recognize nationalism and only universal, absolute values are his priority. We should not allow equalization of people. There should be room for differences of opinion. Therefore, in the new era, modern trends of globalization in
2023-09-30
∘ Tsitsino Tetrauli ∘
IMPACT OF PANDEMIC AND WAR ON WORLD ECONOMY, STRUCTURE AND STRATEGY OF INTERNATIONAL ECONOMIC ORGANIZATIONS
Abstract The world is facing a great trial. First, the corona virus hit hard, and then the Russia-Ukraine war. The situation is very unstable in the world, the spheres of influence are being redistributed. Economic recession and the de-dollarization process have begun. The world is no longer unipolar. If the planet survives a nuclear war, the world could very likely become
2023-09-30
IMPACT OF PANDEMIC AND WAR ON WORLD ECONOMY, STRUCTURE AND STRATEGY OF INTERNATIONAL ECONOMIC ORGANIZATIONS
Abstract The world is facing a great trial. First, the corona virus hit hard, and then the Russia-Ukraine war. The situation is very unstable in the world, the spheres of influence are being redistributed. Economic recession and the de-dollarization process have begun. The world is no longer unipolar. If the planet survives a nuclear war, the world could very likely become
2023-09-30
∘ Rusudan Kvaratskhelia ∘ Levan Kikilashvili ∘ Maya Benia ∘
SUPPORT OF SMALL AND MEDIUM ENTREPRENEURS BY INTERNATIONAL FUNDS AND LOCAL BANKING SECTOR
Abstract This article explores the mechanisms and initiatives aimed at supporting small and medium-sized entrepreneurs in Georgia. It investigates the role of international funds and the local banking sector in facilitating investments for the consistent development of regions, fostering economic strengthening, promoting environmental protection, and analyzing the transformative impact of businesses in the country's overall development. The article begins by highlighting the significance of investments made by international funds in Georgia's small and medium-sized businesses. It examines the various support programs and opportunities provided by institutions such as the International Bank for Reconstruction and Development (EBRD) and the European Bank for Reconstruction and Development (EBRD). The text delves into the challenges and benefits associated with these initiatives and emphasizes the positive outcomes achieved over the last two decades. Next, the article explores
2023-09-30
SUPPORT OF SMALL AND MEDIUM ENTREPRENEURS BY INTERNATIONAL FUNDS AND LOCAL BANKING SECTOR
Abstract This article explores the mechanisms and initiatives aimed at supporting small and medium-sized entrepreneurs in Georgia. It investigates the role of international funds and the local banking sector in facilitating investments for the consistent development of regions, fostering economic strengthening, promoting environmental protection, and analyzing the transformative impact of businesses in the country's overall development. The article begins by highlighting the significance of investments made by international funds in Georgia's small and medium-sized businesses. It examines the various support programs and opportunities provided by institutions such as the International Bank for Reconstruction and Development (EBRD) and the European Bank for Reconstruction and Development (EBRD). The text delves into the challenges and benefits associated with these initiatives and emphasizes the positive outcomes achieved over the last two decades. Next, the article explores
2023-09-30
∘ Ramaz Putkaradze ∘
TRADE RELATIONS BETWEEN GEORGIA AND AZERBAIJAN IN TERMS OF GLOBALIZATION
Abstract Georgia and Azerbaijan have close trade (and not only trade) relations. Azerbaijan is the largest export and import country for Georgia. Georgia is also an important trade partner for Azerbaijan, but the role of Georgia in Azerbaijan’s foreign trade is relatively low. The paper discusses the dynamics and trends of trade relations between the two countries and provides the conclusion that it is possible to further deepen the existing close trade ties. According to the National Statistics Office of Georgia, Azerbaijan has always been represented in the largest exporting countries of Georgia. According to the data of 2022, it is at the second position following China and accounts to 12% of the total export of Georgia, which is 1.2% percentage points lower compared to the corresponding indicator of China. Azerbaijan is the fourth-ranked country in terms of trade turnover following Turkey, Russia and China, and the sixth-ranked country in terms of imports
2023-09-30
TRADE RELATIONS BETWEEN GEORGIA AND AZERBAIJAN IN TERMS OF GLOBALIZATION
Abstract Georgia and Azerbaijan have close trade (and not only trade) relations. Azerbaijan is the largest export and import country for Georgia. Georgia is also an important trade partner for Azerbaijan, but the role of Georgia in Azerbaijan’s foreign trade is relatively low. The paper discusses the dynamics and trends of trade relations between the two countries and provides the conclusion that it is possible to further deepen the existing close trade ties. According to the National Statistics Office of Georgia, Azerbaijan has always been represented in the largest exporting countries of Georgia. According to the data of 2022, it is at the second position following China and accounts to 12% of the total export of Georgia, which is 1.2% percentage points lower compared to the corresponding indicator of China. Azerbaijan is the fourth-ranked country in terms of trade turnover following Turkey, Russia and China, and the sixth-ranked country in terms of imports
2023-09-30
∘ Vasil Khizanishvili ∘
POST-WAR TRANSFORMATION OF JAPAN UNDER THE CONDITIONS OF OCCUPATION
Abstract The transformation of Japan's postwar economy took place against the background of a democratization reform program promoted (along with the Allies) by the American Occupation forces. Three economic reforms were of particular importance in this phase of transformation: land reform, dissolution of the zaibatsu, and labor reform. After the first land reform carried out in the fall of 1945, which required certain changes, at the request and support of the American Occupation forces (which was expressed in a memorandum on land reform sent to the Japanese government on December 9, 1945, and which called for more extensive changes) was realized the so-called the second land reform on October 21, 1946. “The Law for the Special Establishment of Independent Cultivators’’ provided to purchase for all the land plots owned by absentee landlords by the government; to limit for the land of non-cultivating resident landlords to less than one
2023-09-30
POST-WAR TRANSFORMATION OF JAPAN UNDER THE CONDITIONS OF OCCUPATION
Abstract The transformation of Japan's postwar economy took place against the background of a democratization reform program promoted (along with the Allies) by the American Occupation forces. Three economic reforms were of particular importance in this phase of transformation: land reform, dissolution of the zaibatsu, and labor reform. After the first land reform carried out in the fall of 1945, which required certain changes, at the request and support of the American Occupation forces (which was expressed in a memorandum on land reform sent to the Japanese government on December 9, 1945, and which called for more extensive changes) was realized the so-called the second land reform on October 21, 1946. “The Law for the Special Establishment of Independent Cultivators’’ provided to purchase for all the land plots owned by absentee landlords by the government; to limit for the land of non-cultivating resident landlords to less than one
2023-09-30
∘ Revaz Javakhishvili ∘ Lina Datunashvili ∘
THE US EXPERIENCE IN ENVIRONMENTAL SECURITY
Abstract Today, the main environmental problems of the USA are: air pollution, deterioration of water quality, increase in the volume of solid industrial and consumer waste and strengthening of the heat effect. The paper analyzes the factors of deterioration of the country's ecological condition, their place and role in environmental pollution and deterioration of the ecosystem. It covers in detail the main stages and directions of the environmental movement in the USA. As a result of research in the work, the conclusion is made that at the modern stage, the USA has made serious achievements in the field of fighting environmental pollution and ensuring the ecological security of the country. However, in this regard, it has many challenges and problems, to overcome which it is necessary to move the country's economy to a level where the latest innovative technologies will be more widely used, which will create appropriate conditions for expanding the processing of industrial
2023-09-30
THE US EXPERIENCE IN ENVIRONMENTAL SECURITY
Abstract Today, the main environmental problems of the USA are: air pollution, deterioration of water quality, increase in the volume of solid industrial and consumer waste and strengthening of the heat effect. The paper analyzes the factors of deterioration of the country's ecological condition, their place and role in environmental pollution and deterioration of the ecosystem. It covers in detail the main stages and directions of the environmental movement in the USA. As a result of research in the work, the conclusion is made that at the modern stage, the USA has made serious achievements in the field of fighting environmental pollution and ensuring the ecological security of the country. However, in this regard, it has many challenges and problems, to overcome which it is necessary to move the country's economy to a level where the latest innovative technologies will be more widely used, which will create appropriate conditions for expanding the processing of industrial
2023-09-30
∘ Lela Menabdishvili ∘
DEMOGRAPHIC CRISIS IN GEORGIA AND THE POPULATIONS POINT OF VIEW ABOUT THE WAY TO OVERCOME IT
Abstract The severe demographic situation of Georgia is manifested in the decline of the birth rate, the aging population, and the high level of migration. The countrys population is characterized by a constant downward trend. If the population decline continues at this pace, by 2050 the population of Georgia will be much smaller than what was calculated by the United Nations. The clearly defined trend of population decline and aging is very dangerous and alarming for a small nation like us. This process heralds the inevitability of the countrys demographic catastrophe. Demographers encourage Georgian families to have at least three children in order to balance childless families and married people. In order to maintain only a simple reproduction of the population, it is necessary that families with three or more children make up more than half of the total number. Our sociological research showed that the number of respondents who already have three or more children or want to have
2023-09-30
DEMOGRAPHIC CRISIS IN GEORGIA AND THE POPULATIONS POINT OF VIEW ABOUT THE WAY TO OVERCOME IT
Abstract The severe demographic situation of Georgia is manifested in the decline of the birth rate, the aging population, and the high level of migration. The countrys population is characterized by a constant downward trend. If the population decline continues at this pace, by 2050 the population of Georgia will be much smaller than what was calculated by the United Nations. The clearly defined trend of population decline and aging is very dangerous and alarming for a small nation like us. This process heralds the inevitability of the countrys demographic catastrophe. Demographers encourage Georgian families to have at least three children in order to balance childless families and married people. In order to maintain only a simple reproduction of the population, it is necessary that families with three or more children make up more than half of the total number. Our sociological research showed that the number of respondents who already have three or more children or want to have
2023-09-30
∘ Nana Menabdishvili ∘
ANALYSIS OF FAMILY INCOME IN THE POST-PANDEMIC PERIOD
Abstract Among the many functions of the family, the physical and cultural reproduction of generations stands out. But both these and other functions cannot be performed if the family does not have income, the family budget will not be able to meet the household needs. That is, family income plays an important role in its functioning. The presented paper refers to the analysis of family incomes of one social group, which includes married and employed persons with higher education. The work is based on the results of sociological research. The survey was conducted directly with our participation in the summer of 2022. The studied families include both nuclear and extended families. The majority was made up of extended families (58%). Both types of nuclear families are found among the studied: spouses without children (11%) and with children. Most of the employed respondents (59%) are employed in the public sector, and the rest in the private sector. 67% of families have two
2023-09-30
ANALYSIS OF FAMILY INCOME IN THE POST-PANDEMIC PERIOD
Abstract Among the many functions of the family, the physical and cultural reproduction of generations stands out. But both these and other functions cannot be performed if the family does not have income, the family budget will not be able to meet the household needs. That is, family income plays an important role in its functioning. The presented paper refers to the analysis of family incomes of one social group, which includes married and employed persons with higher education. The work is based on the results of sociological research. The survey was conducted directly with our participation in the summer of 2022. The studied families include both nuclear and extended families. The majority was made up of extended families (58%). Both types of nuclear families are found among the studied: spouses without children (11%) and with children. Most of the employed respondents (59%) are employed in the public sector, and the rest in the private sector. 67% of families have two
2023-09-30
∘ Tamila Nutsubidze ∘ Khatuna Nutsubidze ∘
LABOR MARKET CHALLENGES AND OPPORTUNITIES FOR DEVELOPMENT OF BUSINESS EDUCATION AND ENTREPRENEURSHIP TRAINING IN GEORGIA
Abstract The article studies labor market challenges and unemployment trends in Georgia. Along with this, the main directions of the development of the higher and vocational education system in Georgia are discussed in the paper. The importance of the internationalization of business education and entrepreneurial training and the challenges related to them are discussed in great detail. Business education and entrepreneurship training should promote and support formation of international awareness, expertise and global competencies among students. Therefore, the development and internationalization of business education and entrepreneurship training in Georgia should be aimed at increasing the competitiveness of the workforce, both locally and in the international labor market. Key words: labor market, unemployment, business education, entrepreneurship
2023-09-30
LABOR MARKET CHALLENGES AND OPPORTUNITIES FOR DEVELOPMENT OF BUSINESS EDUCATION AND ENTREPRENEURSHIP TRAINING IN GEORGIA
Abstract The article studies labor market challenges and unemployment trends in Georgia. Along with this, the main directions of the development of the higher and vocational education system in Georgia are discussed in the paper. The importance of the internationalization of business education and entrepreneurial training and the challenges related to them are discussed in great detail. Business education and entrepreneurship training should promote and support formation of international awareness, expertise and global competencies among students. Therefore, the development and internationalization of business education and entrepreneurship training in Georgia should be aimed at increasing the competitiveness of the workforce, both locally and in the international labor market. Key words: labor market, unemployment, business education, entrepreneurship
2023-09-30
∘ Rusudan Papaskiri ∘ Luka Papaskiri ∘
PENSION SYSTEM REFORMS IN GEORGIA
Abstract In the Article: " Pension system reforms in Georgia", there have been discussed the essence of the pension system and pension in general, necessity of its presence, periods of development, its first founder in the world, the types of the pension system and etc. In the Article there have been explained the implementation of the pension reform in Georgia, in 2018 (that was expressed by the introduction of the accumulative pension system) by significant growth of the old-age population, which have increased the pension funds to be paid to them. Due to this, the introduction of the accumulative pension system is deemed in the Article as an effective measure. There is only expressed a doubt about the positive expectations. Such doubt is based on the results of the research conducted in Tbilisi population. As these results showed, the 57, 5% of the per-sons interviewed did not trust a new pension system, 29,5% - trust partially, and 20% of them - trust it. The author deems that
2023-09-30
PENSION SYSTEM REFORMS IN GEORGIA
Abstract In the Article: " Pension system reforms in Georgia", there have been discussed the essence of the pension system and pension in general, necessity of its presence, periods of development, its first founder in the world, the types of the pension system and etc. In the Article there have been explained the implementation of the pension reform in Georgia, in 2018 (that was expressed by the introduction of the accumulative pension system) by significant growth of the old-age population, which have increased the pension funds to be paid to them. Due to this, the introduction of the accumulative pension system is deemed in the Article as an effective measure. There is only expressed a doubt about the positive expectations. Such doubt is based on the results of the research conducted in Tbilisi population. As these results showed, the 57, 5% of the per-sons interviewed did not trust a new pension system, 29,5% - trust partially, and 20% of them - trust it. The author deems that
2023-09-30
∘ Roman Kurashvili ∘
THE ROLE OF GAMBLING IN THE ECONOMY AND THE BEHAVIORAL MOTIVATION OF GAMBLING ADDICTS
Abstract Excitement is an integral part of our lives, which can be seen in every household aspect. Gambling has become one of the main means of entertainment, which contributes to the formation and development of the economy. The gaming industry in Georgia is at the peak of development and is developing day by day. It is one of the largest and most profitable sectors, which also contributes to the development of tourism and brings additional functions to the country. This study is an attempt to analyze the motivation of the behavior of people addicted to gambling, how their addiction started, how gambling affects their psychology, budget and makes them act irrationally in the conditions of their limited financial resources. It is important to analyze the problem both from the economic and financial point of view, as well as from the psychological aspect. The research analyzes statistical data on the role of gambling for the economy on the example of the world and Georgia, and
2023-09-30
THE ROLE OF GAMBLING IN THE ECONOMY AND THE BEHAVIORAL MOTIVATION OF GAMBLING ADDICTS
Abstract Excitement is an integral part of our lives, which can be seen in every household aspect. Gambling has become one of the main means of entertainment, which contributes to the formation and development of the economy. The gaming industry in Georgia is at the peak of development and is developing day by day. It is one of the largest and most profitable sectors, which also contributes to the development of tourism and brings additional functions to the country. This study is an attempt to analyze the motivation of the behavior of people addicted to gambling, how their addiction started, how gambling affects their psychology, budget and makes them act irrationally in the conditions of their limited financial resources. It is important to analyze the problem both from the economic and financial point of view, as well as from the psychological aspect. The research analyzes statistical data on the role of gambling for the economy on the example of the world and Georgia, and
2023-09-30
∘ Elene Chikovani ∘
CORPORATE LABOR RELATIONS IN GEORGIA
Abstract Article focuses on the problems of regulation of the labor relations in corporate sector of Georgia. Evaluates existing problems in regulation of the corporate labor relations. Characterizes main gaps and deficiencies in corporate labor Relations of Georgia. Offers suggestions and proposals for the overcoming existing challenges in this
2023-09-30
CORPORATE LABOR RELATIONS IN GEORGIA
Abstract Article focuses on the problems of regulation of the labor relations in corporate sector of Georgia. Evaluates existing problems in regulation of the corporate labor relations. Characterizes main gaps and deficiencies in corporate labor Relations of Georgia. Offers suggestions and proposals for the overcoming existing challenges in this
2023-09-30