კონფერენცია

∘ Giorgi Kraveishvili ∘
Inclusive Economic Development as a Challenge of the XXI Century: Essence and Methodology, Comparative Analysis of Post-Soviet Countries

Summary

The main concern for any country is to ensure economic prosperity and a high standard of living for its people. It is therefore essential that the economic growth and development of a country be equally beneficial to every citizen of that country. Inequality is observed in the world today between different groups of the population, as well as a high rate of people living below the poverty line. To solve this problem, the need for inclusive economic development was on the agenda of world economic policy at the beginning of the XXI century. Inclusive economic development envisages economic growth that will benefit the wider population, reduce poverty, and eliminate inequalities between different segments of the population.

Several indicators are used to measure inclusive economic growth. Indicators assess economic growth rates, as well as poverty, inequality, and how fairly the benefits of economic growth are distributed to different groups of the population, and how well their standard of living improves.

The Baltic states occupy the leading positions in the comparison of post-Soviet countries. In the first place is Estonia, which is distinguished by a good rate of economic development as well as by the factors that ensure a fair distribution of this development among the population.

Many factors are required to achieve inclusive economic development. We especially want to highlight the need for a high level of education among the population. Because inclusive economic growth involves the involvement of a large proportion of citizens in economic activities, they must have the appropriate education and skills. On the other hand, it is important to create a fair environment in the country so that all people have equal opportunities. It is also important that the state actively promotes business development through the implementation of various support programs. These and other factors determine the eradication of poverty, the reduction of inequality, and the achievement of inclusive economic development.

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"

E ISSN 2587 - 4691	∘ Giorgi Kraveishvili ∘ Inclusive Economic Development as a Challenge of the XXI Century: Essence and Methodology, Comparative Analysis of Post-Soviet Countries Summary The main concern for any country is to ensure economic prosperity and a high standard of living for its people. It is therefore essential that the economic growth and development of a country be equally beneficial to every citizen of that country. Inequality is observed in the world today between different groups of the population, as well as a high rate of people living below the poverty line. To solve this problem, the need for inclusive economic development was on the agenda of world economic policy at the beginning of the XXI century. Inclusive economic development envisages economic growth that will benefit the wider population, reduce poverty, and eliminate inequalities between different segments of the population. Several indicators are used to measure inclusive economic growth. Indicators assess economic growth rates, as well as poverty, inequality, and how fairly the benefits of economic growth are distributed to different groups of the population, and how well their standard of living improves. The Baltic states occupy the leading positions in the comparison of post-Soviet countries. In the first place is Estonia, which is distinguished by a good rate of economic development as well as by the factors that ensure a fair distribution of this development among the population. Many factors are required to achieve inclusive economic development. We especially want to highlight the need for a high level of education among the population. Because inclusive economic growth involves the involvement of a large proportion of citizens in economic activities, they must have the appropriate education and skills. On the other hand, it is important to create a fair environment in the country so that all people have equal opportunities. It is also important that the state actively promotes business development through the implementation of various support programs. These and other factors determine the eradication of poverty, the reduction of inequality, and the achievement of inclusive economic development.