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"
Archive of Conference dedicated to the Foundation Day
∘ Ramaz Abesadze ∘
Economic, social and humanitarian aspects of the pandemic in the world and in Georgia
Annotation In the article, experience of the pandemics in the past, the economic, social and humanitarian consequences of the coronavirus pandemic, as well as measures to prevent its spread are examined, based on the examples of the world and Georgia; Anti-crisis plans, projects and programs implemented by Georgia and some other countries are
2020-07-20
Economic, social and humanitarian aspects of the pandemic in the world and in Georgia
Annotation In the article, experience of the pandemics in the past, the economic, social and humanitarian consequences of the coronavirus pandemic, as well as measures to prevent its spread are examined, based on the examples of the world and Georgia; Anti-crisis plans, projects and programs implemented by Georgia and some other countries are
2020-07-20
∘ Teimuraz Beridze ∘
ON THE ISSUE OFTHE INTERRELATIONS BETWEEN PROPERTY AND MANAGEMENT
Summary The property (property relations) have always occupied the minds of people and determined their actions for centuries. This phenomena is interdisciplinary and represents the subject of economic and legal sciences. From the point of view of law (jurisprudence), property in the first place means the ownership of an object by a particular subject, which is fixed through a legal document (act). The construction of “appropriation-possession-disposal-use”, which has more legal weight is also in use. From the standpoint of economic science, ownership is primarily relationships, a result in which the material welfare is created which should provide income (profit). A particular aspect of property is its “diversity”. The logic of the development of property relations dictates that the dominant can be only one form of property, around which there are built other forms of property (under capitalism – private property, which is implemented by means of
2020-07-20
ON THE ISSUE OFTHE INTERRELATIONS BETWEEN PROPERTY AND MANAGEMENT
Summary The property (property relations) have always occupied the minds of people and determined their actions for centuries. This phenomena is interdisciplinary and represents the subject of economic and legal sciences. From the point of view of law (jurisprudence), property in the first place means the ownership of an object by a particular subject, which is fixed through a legal document (act). The construction of “appropriation-possession-disposal-use”, which has more legal weight is also in use. From the standpoint of economic science, ownership is primarily relationships, a result in which the material welfare is created which should provide income (profit). A particular aspect of property is its “diversity”. The logic of the development of property relations dictates that the dominant can be only one form of property, around which there are built other forms of property (under capitalism – private property, which is implemented by means of
2020-07-20
∘ Revaz Gogokhia ∘
ON THE ISSUE OF DEGLOBALIZATIONOFEXCESSIVE GLOBALIZATION OF THE WORLD DEVELOPMENT PROCESSES
Summary The article, in the wake of coronavirus pandemic, presents the vices of excessive globalization of fundamental vital events and processes in the world and Georgia, and, consequently, for the normal functioning of mankind, the focus is shifted to some issues of their deglobalization. Keywords: globalization, global antiglobalism, directions of antiglobalism, Georgia and
2020-07-20
ON THE ISSUE OF DEGLOBALIZATIONOFEXCESSIVE GLOBALIZATION OF THE WORLD DEVELOPMENT PROCESSES
Summary The article, in the wake of coronavirus pandemic, presents the vices of excessive globalization of fundamental vital events and processes in the world and Georgia, and, consequently, for the normal functioning of mankind, the focus is shifted to some issues of their deglobalization. Keywords: globalization, global antiglobalism, directions of antiglobalism, Georgia and
2020-07-20
∘ George Berulava ∘
ON THE ROLE OF NON-FARM ECONOMY IN POVERTY REDUCTION IN RURAL AREAS IN GEORGIA
Annotation.The paper explores thenon-farm sector’s contribution to the rural poverty reduction in Georgia. The results of the analysis show that participation in non-farm economic activity allows rural households to substantially improve their well-being and reduce risk of poverty, while involvement in only agricultural activities increases chances of rural households to fall below poverty line. The key policy implication is that providing incentives and support for rural residents to engage in non-farm activity can be considered as an important instrument of rural poverty alleviation strategy. Introduction In academic literature the rural non-farm "sector", generally, refers to all types of non-agricultural economic activities located in rural areas (Lanjouw J. and Peter Lanjouw P., 2001)[1]. However, in many countries the distinction between urban and rural employment is based not so much on the location of the entity as on “…the place of residence of
2020-07-20
ON THE ROLE OF NON-FARM ECONOMY IN POVERTY REDUCTION IN RURAL AREAS IN GEORGIA
Annotation.The paper explores thenon-farm sector’s contribution to the rural poverty reduction in Georgia. The results of the analysis show that participation in non-farm economic activity allows rural households to substantially improve their well-being and reduce risk of poverty, while involvement in only agricultural activities increases chances of rural households to fall below poverty line. The key policy implication is that providing incentives and support for rural residents to engage in non-farm activity can be considered as an important instrument of rural poverty alleviation strategy. Introduction In academic literature the rural non-farm "sector", generally, refers to all types of non-agricultural economic activities located in rural areas (Lanjouw J. and Peter Lanjouw P., 2001)[1]. However, in many countries the distinction between urban and rural employment is based not so much on the location of the entity as on “…the place of residence of
2020-07-20
∘ Vakhtang Burduli ∘
ESSENCE AND PLACE OF KNOWLEDGE ECONOMY IN THE SYSTEM OF MODERN ECONOMIES
Summary This article discusses the development of the concept of “knowledge economy” and the totality of its infrastructure components. Based on a comparison of the components of the infrastructures of the “innovative economy” and “knowledge economy”, the degree of interoperability of these concepts is established. The content of the components “education” of the knowledge economy and the content of the components “intellectual capital”, “information sector” and “network structures”, which are both part of the infrastructure of the knowledge economy and the infrastructure of the innovation economy, are considered. In the last period, there is a growing understanding throughout the world that a substantial reform of the existing economic system is necessary, which is associated with the need to neutralize the threats posed by frequent economic crises, as well as threats associated with environmental
2020-07-20
ESSENCE AND PLACE OF KNOWLEDGE ECONOMY IN THE SYSTEM OF MODERN ECONOMIES
Summary This article discusses the development of the concept of “knowledge economy” and the totality of its infrastructure components. Based on a comparison of the components of the infrastructures of the “innovative economy” and “knowledge economy”, the degree of interoperability of these concepts is established. The content of the components “education” of the knowledge economy and the content of the components “intellectual capital”, “information sector” and “network structures”, which are both part of the infrastructure of the knowledge economy and the infrastructure of the innovation economy, are considered. In the last period, there is a growing understanding throughout the world that a substantial reform of the existing economic system is necessary, which is associated with the need to neutralize the threats posed by frequent economic crises, as well as threats associated with environmental
2020-07-20
∘ Natalia V. Eremeeva ∘ Liubov V. Zharova ∘
SUSTAINABLE DEVELOPMENT GOALS BASEMENT FOR ENERGY SAFETY AND ECONOMIC DEVELOPMENT
Annotation. The paper focuses on implementing sustainable development goals in the country's Action Plans and realities. Among the 17th aims chosen the 7th – affordable and safe energy which is part of country energy safety – the issue that is crucial for former USSR countries which were a part of the united energy system that was centered-oriented. That coursed a lot of problems for economic development and safety after independence. The paper aims to discover the main challenges of reaching energy safety and economic prosperity through the implementation sustainable development goals in Ukraine. Keywords: sustainable development, law, energy, safety, economics Sustainable development has become a popular catchphrase in contemporary development discourse. However, in spite of its pervasiveness and the massive popularity it has garnered over the years, the concept still developing and transforming. The classical definition of sustainable development - this is the
2020-07-20
SUSTAINABLE DEVELOPMENT GOALS BASEMENT FOR ENERGY SAFETY AND ECONOMIC DEVELOPMENT
Annotation. The paper focuses on implementing sustainable development goals in the country's Action Plans and realities. Among the 17th aims chosen the 7th – affordable and safe energy which is part of country energy safety – the issue that is crucial for former USSR countries which were a part of the united energy system that was centered-oriented. That coursed a lot of problems for economic development and safety after independence. The paper aims to discover the main challenges of reaching energy safety and economic prosperity through the implementation sustainable development goals in Ukraine. Keywords: sustainable development, law, energy, safety, economics Sustainable development has become a popular catchphrase in contemporary development discourse. However, in spite of its pervasiveness and the massive popularity it has garnered over the years, the concept still developing and transforming. The classical definition of sustainable development - this is the
2020-07-20
∘ Murman Kvaratskhelia ∘
ECONOMIC CHALLENGES OF GLOBAL PANDEMIC
Summary In the article the role of a state and the problems of current crisis situations of a country under the global pandemic processes are analyzed. To solve these problems in the different branches and spheres of an economy and in a short-run period, the corresponding directions of state measures are
2020-07-20
ECONOMIC CHALLENGES OF GLOBAL PANDEMIC
Summary In the article the role of a state and the problems of current crisis situations of a country under the global pandemic processes are analyzed. To solve these problems in the different branches and spheres of an economy and in a short-run period, the corresponding directions of state measures are
2020-07-20
∘ Yuri Kindzerskiy ∘
INDUSTRIALIZATION IN UKRAINE: CHALLENGES FOR POLICY IN THE CONTEXT OF GOALS OF INCLUSIVE DEVELOPMENT
Summary Key indices of development of the Ukrainian industry in comparison with some industrially developed countries are analyzed. Emphasis is placed on the inconsistency of industrial transformation processes in our country with the world trends and trends of inclusive and sustainable industrial development, defined by the Lima Declaration of UNIDO's, in particular in the context of the dynamics and structure of production and export, technological level, the need to improve labor productivity and income of the population, approximation to social inclusivity and fair distribution of national wealth, the transfer of production to environmental safety rails. The key defects of the state economic policy which led to negative tendencies are outlined. Attention is drawn to the actual refusal of the state from industrial policy, both in the «vertical» and «horizontal» variants of it, the replacement of structural policy by deregulation and orientation to the
2020-07-20
INDUSTRIALIZATION IN UKRAINE: CHALLENGES FOR POLICY IN THE CONTEXT OF GOALS OF INCLUSIVE DEVELOPMENT
Summary Key indices of development of the Ukrainian industry in comparison with some industrially developed countries are analyzed. Emphasis is placed on the inconsistency of industrial transformation processes in our country with the world trends and trends of inclusive and sustainable industrial development, defined by the Lima Declaration of UNIDO's, in particular in the context of the dynamics and structure of production and export, technological level, the need to improve labor productivity and income of the population, approximation to social inclusivity and fair distribution of national wealth, the transfer of production to environmental safety rails. The key defects of the state economic policy which led to negative tendencies are outlined. Attention is drawn to the actual refusal of the state from industrial policy, both in the «vertical» and «horizontal» variants of it, the replacement of structural policy by deregulation and orientation to the
2020-07-20
∘ Alfred Kuratashvili ∘
TARGETED DIRECTION OF LEGISLATION IN THE SERVICE OF ECONOMIC FASCISM – THIS IS CRIME AGAINST HUMANITY (?!)
Summary The scientific work examines the targeted orientation of legislation in the service of economic fascism – as a crime against humanity (?!). In connection with the problem of the targeted orientation of legislation, special attention should be paid to the fact that the law and legislation as a whole are created to serve the interests of man – to serve the interests of the people, and not vice versa. Consequently, the legislative focus is of decisive importance, and in particular, is it: does the law serve the interests of person – the interests of the people, or does it serve the dominance of money, the dominance of the market, the dominance of profit, capital over person in society and in the state ?! Based on the foregoing, it is fundamentally important to pay attention to the fact that the "supremacy of law", as well as the "supremacy of jurisprudence", in general, and, in particular, when the legislation is in the service of the dominance
2020-07-20
TARGETED DIRECTION OF LEGISLATION IN THE SERVICE OF ECONOMIC FASCISM – THIS IS CRIME AGAINST HUMANITY (?!)
Summary The scientific work examines the targeted orientation of legislation in the service of economic fascism – as a crime against humanity (?!). In connection with the problem of the targeted orientation of legislation, special attention should be paid to the fact that the law and legislation as a whole are created to serve the interests of man – to serve the interests of the people, and not vice versa. Consequently, the legislative focus is of decisive importance, and in particular, is it: does the law serve the interests of person – the interests of the people, or does it serve the dominance of money, the dominance of the market, the dominance of profit, capital over person in society and in the state ?! Based on the foregoing, it is fundamentally important to pay attention to the fact that the "supremacy of law", as well as the "supremacy of jurisprudence", in general, and, in particular, when the legislation is in the service of the dominance
2020-07-20
∘ Tea Lazarashvili ∘
FINANCIAL METHODS OF STIMULATING INNOVATION AND FEATURES OF USE
Summary The article analyzes methods to stimulate innovation in world practice. Particular attention is paid to financial methods of stimulating innovation. The main sources of financing for innovative activities and the practice of their use by countries are characterized, as well as specific methods of stimulating innovation. It covers the development of innovative processes in economically developed countries and the innovative climate that plays an important role in the development of innovative processes. Three main forms of state stimulation of innovative activities are discussed: administrative, infrastructural and financial. Keywords: Innovation, methods of stimulating innovation, financial innovation, innovative
2020-07-20
FINANCIAL METHODS OF STIMULATING INNOVATION AND FEATURES OF USE
Summary The article analyzes methods to stimulate innovation in world practice. Particular attention is paid to financial methods of stimulating innovation. The main sources of financing for innovative activities and the practice of their use by countries are characterized, as well as specific methods of stimulating innovation. It covers the development of innovative processes in economically developed countries and the innovative climate that plays an important role in the development of innovative processes. Three main forms of state stimulation of innovative activities are discussed: administrative, infrastructural and financial. Keywords: Innovation, methods of stimulating innovation, financial innovation, innovative
2020-07-20
∘ Zurab Lipartia ∘
METHODOLOGICAL APPROACHES TO PERFECTION STATE SOFTWARE BUDGETING IN GEORGIA
Summary The article discusses the methodological approaches to improving the state (public) financial policy and the level of optimism of governance decision-making, result-oriented progressive budgeting in the process of economic development in the country. In Georgia, given the position of assessing the economic efficiency of the budget system outcomes, the development of macroeconomic policy provides an opportunity to improve the efficiency of public finance management. Accordingly, developing methodological-logical approaches to the development of a result-oriented budget system, using the best international practice analytical-evaluation systems, developing targeted state budget programs, introducing economic factors into Georgia's business practice. Keywords: economic thinking; Principles of effective management; Methodological approaches to program budgeting; Mechanism for the management of territorial finance to promote the resolution of
2020-07-20
METHODOLOGICAL APPROACHES TO PERFECTION STATE SOFTWARE BUDGETING IN GEORGIA
Summary The article discusses the methodological approaches to improving the state (public) financial policy and the level of optimism of governance decision-making, result-oriented progressive budgeting in the process of economic development in the country. In Georgia, given the position of assessing the economic efficiency of the budget system outcomes, the development of macroeconomic policy provides an opportunity to improve the efficiency of public finance management. Accordingly, developing methodological-logical approaches to the development of a result-oriented budget system, using the best international practice analytical-evaluation systems, developing targeted state budget programs, introducing economic factors into Georgia's business practice. Keywords: economic thinking; Principles of effective management; Methodological approaches to program budgeting; Mechanism for the management of territorial finance to promote the resolution of
2020-07-20
∘ Vladimer Papava ∘ Tamar Tapladze ∘
ON THE CORONOMIC CRISIS
Summary The paper analyzes the problem of the economic consequences of the COVID-19 pandemic. The creation of a new term, “Coronomics,” is commendable in order to focus on the problem of the impact of the 4 spread of the coronavirus on the economy. It is necessary to realize that the world is not facing a classical type but, rather, a qualitatively new global economic crisis. Its causes are not endogenous but instead exogenous; that is, these causes are not generated within the economy but are provoked by the rapid spread of a source outside of the economy – the coronavirus. Given this factor, in contrast to the classical economic crisis, both separate countries and the whole world are at risk of, according to the new term, a “Coronomic crisis.” Keywords: COVID-19 pandemic, global economic crisis, coronomics, coronomic crisis, globalization,
2020-07-20
ON THE CORONOMIC CRISIS
Summary The paper analyzes the problem of the economic consequences of the COVID-19 pandemic. The creation of a new term, “Coronomics,” is commendable in order to focus on the problem of the impact of the 4 spread of the coronavirus on the economy. It is necessary to realize that the world is not facing a classical type but, rather, a qualitatively new global economic crisis. Its causes are not endogenous but instead exogenous; that is, these causes are not generated within the economy but are provoked by the rapid spread of a source outside of the economy – the coronavirus. Given this factor, in contrast to the classical economic crisis, both separate countries and the whole world are at risk of, according to the new term, a “Coronomic crisis.” Keywords: COVID-19 pandemic, global economic crisis, coronomics, coronomic crisis, globalization,
2020-07-20
∘ Yevhenii Redziuk ∘
FEATURES AND CONSEQUENCES OF THE CRISIS OF THE COVID-19 PANDEMIC ON GLOBAL ECONOMIC ACTIVITY
Summary The article considers the impact of the COVID-19 pandemic on world economic processes, international business activity, and the adaptability of the state apparatus to anti-crisis actions. The author presents modern statistics and approaches to counteract the spread of crisis phenomena in the global economy. The possibilities and potential for the quick recovery of the world economy based on new rules that take into account current trends are identified. Based on a comprehensive analysis, it is proposed to prepare for various scenarios for quitting quarantine and to be ready for the formation of economic self-sufficiency within the country. Keywords: world economy, crisis and global economic activity, COVID-19 and economic
2020-07-20
FEATURES AND CONSEQUENCES OF THE CRISIS OF THE COVID-19 PANDEMIC ON GLOBAL ECONOMIC ACTIVITY
Summary The article considers the impact of the COVID-19 pandemic on world economic processes, international business activity, and the adaptability of the state apparatus to anti-crisis actions. The author presents modern statistics and approaches to counteract the spread of crisis phenomena in the global economy. The possibilities and potential for the quick recovery of the world economy based on new rules that take into account current trends are identified. Based on a comprehensive analysis, it is proposed to prepare for various scenarios for quitting quarantine and to be ready for the formation of economic self-sufficiency within the country. Keywords: world economy, crisis and global economic activity, COVID-19 and economic
2020-07-20
∘ Avtandil Sulaberidze ∘ Vladimer Sulaberidze ∘ Vano Shushtakashvili ∘
DEMOGRAPHIC FACTORS OF A PANDEMIC AND SELF-CARING BEHAVIOR
Summary The recent pandemic COVID-19 has caused serious political, social, economic, demographic and other types of problems besides population’s health issues. It is difficult to fight the mentioned problem as there are uncertainties concerning the origin and development of the pandemic, as well as the fact that we do not yet possess a vaccine and medication against the virus, etc. The pandemic is directly linked with demographic factors and millions of demographic losses. The gravity of COVID-19 depends not only on the condition of a country’s health system and future measures of policy, but also on the demographic factors. In particular, it relies on the age structure of population, regional movement, migration, social behavior, the degree of self-care of individuals, families and society at large, etc. These are the basic factors that determine how grave the consequences of the COVID-19 pandemic will be in the world and in separate countries. In accordance with the
2020-07-20
DEMOGRAPHIC FACTORS OF A PANDEMIC AND SELF-CARING BEHAVIOR
Summary The recent pandemic COVID-19 has caused serious political, social, economic, demographic and other types of problems besides population’s health issues. It is difficult to fight the mentioned problem as there are uncertainties concerning the origin and development of the pandemic, as well as the fact that we do not yet possess a vaccine and medication against the virus, etc. The pandemic is directly linked with demographic factors and millions of demographic losses. The gravity of COVID-19 depends not only on the condition of a country’s health system and future measures of policy, but also on the demographic factors. In particular, it relies on the age structure of population, regional movement, migration, social behavior, the degree of self-care of individuals, families and society at large, etc. These are the basic factors that determine how grave the consequences of the COVID-19 pandemic will be in the world and in separate countries. In accordance with the
2020-07-20
∘ Teimuraz Shengelia ∘ Yuri Kozak ∘
THE ROLE OF SOCIAL ENGINEERING IN PREDICTING ECONOMIC GROWTH
Summary Studies have shown that the development of innovative technologies in hierarchical (collectivist) societies is at a much lower level than in horizontal (individualistic) ones. In the context of this approach, this study examines the values and norms that are prevalent in Georgian society. Studies have shown that the social values of hierarchy and priority in Georgia have a significant impact on the individual. The main goal in a hierarchical society is to be closer to the state, because it concentrates resources and distributes them. Horizontally, the realization of one’s own knowledge and talents that turns into a public good. Nevertheless, some forms of collectivism stimulate innovative development. For Georgia, it is important not to blindly copy Western values and institutions (both formal and informal), but to adapt their own values to these
2020-07-20
THE ROLE OF SOCIAL ENGINEERING IN PREDICTING ECONOMIC GROWTH
Summary Studies have shown that the development of innovative technologies in hierarchical (collectivist) societies is at a much lower level than in horizontal (individualistic) ones. In the context of this approach, this study examines the values and norms that are prevalent in Georgian society. Studies have shown that the social values of hierarchy and priority in Georgia have a significant impact on the individual. The main goal in a hierarchical society is to be closer to the state, because it concentrates resources and distributes them. Horizontally, the realization of one’s own knowledge and talents that turns into a public good. Nevertheless, some forms of collectivism stimulate innovative development. For Georgia, it is important not to blindly copy Western values and institutions (both formal and informal), but to adapt their own values to these
2020-07-20
∘ Anna Chechel ∘
REFORM OF DECENTRALIZATION IN UKRAINE: IMPACT ON LOCAL BUDGET INCOME
Annotation. The analysis of the effectiveness of budgetary policy implementation by local councils in the context of reform implementation in Ukraine. The tendencies of changes in the formation of revenue and expenditure of local budgets in terms of financial decentralization have been determined. The main sources of revenues and state transfers to local budgets are identified. Keywords: decentralization, budget policy, local budget, territorial communities. One of the key conditions for a functioning democratic society is transparency of the budget and budgetary policy. According to the Ukraine 2020 Sustainable Development Strategy, the priority in the budget process should be to increase transparency and efficiency in the allocation and spending of the country's budget. [1]. Due to the changes in the budget legislation of Ukraine, in order to achieve European standards, it is necessary to analyze international practices of implementing transparent budgetary policy and to
2020-07-20
REFORM OF DECENTRALIZATION IN UKRAINE: IMPACT ON LOCAL BUDGET INCOME
Annotation. The analysis of the effectiveness of budgetary policy implementation by local councils in the context of reform implementation in Ukraine. The tendencies of changes in the formation of revenue and expenditure of local budgets in terms of financial decentralization have been determined. The main sources of revenues and state transfers to local budgets are identified. Keywords: decentralization, budget policy, local budget, territorial communities. One of the key conditions for a functioning democratic society is transparency of the budget and budgetary policy. According to the Ukraine 2020 Sustainable Development Strategy, the priority in the budget process should be to increase transparency and efficiency in the allocation and spending of the country's budget. [1]. Due to the changes in the budget legislation of Ukraine, in order to achieve European standards, it is necessary to analyze international practices of implementing transparent budgetary policy and to
2020-07-20
∘ Eter Kharaisvili ∘ Ia Natsvlishvili ∘
FOOD SAFETY CHALLENGES IN GEORGIA AND AGRICULTURAL DEVELOPMENT PRIORITIES IN THE POST-CORONAVIRUS PERIOD
Summary Food safety indicators are analyzed in the article, as well as food balances of the main agricultural products in Georgia are assessed. It is concluded that the problem of food security is one of the main challenges for Georgia and the problem will become even more urgent in the post-pandemic period. Production growth trends are identified based on a dynamic analysis of local agricultural production indicators. Given the current level and future trends, it is clear that the existing parameters of agricultural production in the short term will not achieve a safe level of self-sufficiency in local products, will not solve the problem of forming an optimal structure of food balances. The scenarios developed as a result of the events caused by the pandemic in the field of agriculture are evaluated in the paper and the priority directions of the development of the field in the post-pandemic period are proposed. Keywords: Food Safety, Self-sufficiencyIndex, Food Balances,
2020-07-20
FOOD SAFETY CHALLENGES IN GEORGIA AND AGRICULTURAL DEVELOPMENT PRIORITIES IN THE POST-CORONAVIRUS PERIOD
Summary Food safety indicators are analyzed in the article, as well as food balances of the main agricultural products in Georgia are assessed. It is concluded that the problem of food security is one of the main challenges for Georgia and the problem will become even more urgent in the post-pandemic period. Production growth trends are identified based on a dynamic analysis of local agricultural production indicators. Given the current level and future trends, it is clear that the existing parameters of agricultural production in the short term will not achieve a safe level of self-sufficiency in local products, will not solve the problem of forming an optimal structure of food balances. The scenarios developed as a result of the events caused by the pandemic in the field of agriculture are evaluated in the paper and the priority directions of the development of the field in the post-pandemic period are proposed. Keywords: Food Safety, Self-sufficiencyIndex, Food Balances,
2020-07-20
∘ Revaz Javakhishvili ∘
EDUCATION AND SCIENCE – THE PRIORITIES OF THE DEVELOPMENT OF HUMAN CAPITAL OF SOUTH KOREA
Summary The article deals with education and science as the priority directions of the development of human capital of South
2020-07-20
EDUCATION AND SCIENCE – THE PRIORITIES OF THE DEVELOPMENT OF HUMAN CAPITAL OF SOUTH KOREA
Summary The article deals with education and science as the priority directions of the development of human capital of South
2020-07-20
∘ Nugzar Paichadze ∘
ABOUT STRATEGIC ROLE OF HUMAN RESOURCE MANAGEMENT SERVICE
Summary This paper is devoted to characterization of the strategic role of Human Resource Management service. In the present work are considered such issues, as: the essence and aims of strategic Management of Human Resource, brief characteristic of such roles (functions) of Human Resource Management service as: strategic partner, business partner, promoter of progressive changes, administrative expert, employees’ protector. Finally, there are given some recommendations which, by the author’s opinion, will support growth of human resource service working affectivity. The work contains several conclusions made by the author, which will support to increase the efficiency of the work of human resource
2020-07-20
ABOUT STRATEGIC ROLE OF HUMAN RESOURCE MANAGEMENT SERVICE
Summary This paper is devoted to characterization of the strategic role of Human Resource Management service. In the present work are considered such issues, as: the essence and aims of strategic Management of Human Resource, brief characteristic of such roles (functions) of Human Resource Management service as: strategic partner, business partner, promoter of progressive changes, administrative expert, employees’ protector. Finally, there are given some recommendations which, by the author’s opinion, will support growth of human resource service working affectivity. The work contains several conclusions made by the author, which will support to increase the efficiency of the work of human resource
2020-07-20
∘ Ramila Walid Aliyeva ∘
THE ECONOMY IN QUARANTINE
Summary There is, no doubt, too early to assess the impact of the coronavirus epidemic on the global and azerbaijani economies. But it is possible to assume that countries are waiting "for a turn," as all major countries have already defined their strategies to counter todays’ difficulties. This article deals with the impact of the coronavirus epidemic on the economy and social stability of countries. Keywords: economy, coronavirus, pandemic, self-isolation
2020-07-20
THE ECONOMY IN QUARANTINE
Summary There is, no doubt, too early to assess the impact of the coronavirus epidemic on the global and azerbaijani economies. But it is possible to assume that countries are waiting "for a turn," as all major countries have already defined their strategies to counter todays’ difficulties. This article deals with the impact of the coronavirus epidemic on the economy and social stability of countries. Keywords: economy, coronavirus, pandemic, self-isolation
2020-07-20
∘ MIrza Bakhtadze ∘
SOME ASPECTS OF SOCIAL-ECONOMIC STATE OF GEORGIA UNDER THE PANDEMIC
Summary The global pandemic has dealt a significant blow to the world economy. For its part, the economies of individual countries have been shaken and Georgia isn’t exception. Therefore, each country has to come up with an anti-crisis plan to defeat the "invisible enemy" together. Based on Georgia's economic resources, we consider that agriculture is a sector that in the short term will give us possibility to create the necessary preconditions for household use in times of crisis, as well as to maintain more or less local agro-food products in the market, which will also be available for local customers In order to identify the priority sector of the country's economy. A quantitative study was conducted by us, where a large part of the respondents consider that agriculture as a priority. The article discusses the negative consequences of the impact of the pandemic (new covid-19) and the importance of innovative development of the agricultural sector in this
2020-07-20
SOME ASPECTS OF SOCIAL-ECONOMIC STATE OF GEORGIA UNDER THE PANDEMIC
Summary The global pandemic has dealt a significant blow to the world economy. For its part, the economies of individual countries have been shaken and Georgia isn’t exception. Therefore, each country has to come up with an anti-crisis plan to defeat the "invisible enemy" together. Based on Georgia's economic resources, we consider that agriculture is a sector that in the short term will give us possibility to create the necessary preconditions for household use in times of crisis, as well as to maintain more or less local agro-food products in the market, which will also be available for local customers In order to identify the priority sector of the country's economy. A quantitative study was conducted by us, where a large part of the respondents consider that agriculture as a priority. The article discusses the negative consequences of the impact of the pandemic (new covid-19) and the importance of innovative development of the agricultural sector in this
2020-07-20
∘ Davit Bidzinashvili ∘
THREATS OF RISING INFLATION AND INEFFICIENT SPENDING OF FINANCIAL RESOURCES IN GEORGIA UNDER THE CURRENT PANDEMIC
Summary The current world pandemic has affected several foreign exchange markets in Georgia at the same time and affected almost all sources of dollar inflows. First of all, as a result of the pandemic, tourist activity around the world has stopped. As a result, Georgia has completely lost the cash flow it received or could receive from tourism. Consequently, the market lost the share of foreign currency that was expected from the export of services (tourism). The world economy suffered a major blow as a result of the pandemic, and revenues fell globally. Consequently, the income generated by Georgian citizens abroad has decreased (for example, in Italy, virtually all activities were limited, which is an important source of remittances for Georgia). Reducing remittances is another major source of declining dollar supply in the country. In a volatile world economy today, investors are looking forward to the transition. According to the International Monetary Fund, investors
2020-07-20
THREATS OF RISING INFLATION AND INEFFICIENT SPENDING OF FINANCIAL RESOURCES IN GEORGIA UNDER THE CURRENT PANDEMIC
Summary The current world pandemic has affected several foreign exchange markets in Georgia at the same time and affected almost all sources of dollar inflows. First of all, as a result of the pandemic, tourist activity around the world has stopped. As a result, Georgia has completely lost the cash flow it received or could receive from tourism. Consequently, the market lost the share of foreign currency that was expected from the export of services (tourism). The world economy suffered a major blow as a result of the pandemic, and revenues fell globally. Consequently, the income generated by Georgian citizens abroad has decreased (for example, in Italy, virtually all activities were limited, which is an important source of remittances for Georgia). Reducing remittances is another major source of declining dollar supply in the country. In a volatile world economy today, investors are looking forward to the transition. According to the International Monetary Fund, investors
2020-07-20
∘ Tamaz Gamsakhurdia ∘ Teimuraz Pestvenidze ∘
THE ROLE OF MANAGEMENT IN THE FIGHT AGAINST THE PANDEMIC
Summary The paper deals with the greatest talent and intelligence of Georgian people revealed during the crisis. The Government of Georgia, headed by the Prime Minister Giorgi Gakharia, Ministry of Health, the Infectious Diseases Corps used all available resources in timely and professional manner and did their best to handle the invisible enemy - epidemic that terrified the world. All measures were taken to minimize mortality rate. Proper and effective management has worked rhythmically and this is the reason why the epidemiological management of our country occupies a leading place in the world. Therefore, our country entered a safe green zone. We are proud that the world recognized Georgia as one of the leading countries that has achieved great success in the fight against the pandemic. Timely measures had a positive effect on the health of the population. Obviously, the government had to face a dilemma because of the pandemic but with the right and effective
2020-07-20
THE ROLE OF MANAGEMENT IN THE FIGHT AGAINST THE PANDEMIC
Summary The paper deals with the greatest talent and intelligence of Georgian people revealed during the crisis. The Government of Georgia, headed by the Prime Minister Giorgi Gakharia, Ministry of Health, the Infectious Diseases Corps used all available resources in timely and professional manner and did their best to handle the invisible enemy - epidemic that terrified the world. All measures were taken to minimize mortality rate. Proper and effective management has worked rhythmically and this is the reason why the epidemiological management of our country occupies a leading place in the world. Therefore, our country entered a safe green zone. We are proud that the world recognized Georgia as one of the leading countries that has achieved great success in the fight against the pandemic. Timely measures had a positive effect on the health of the population. Obviously, the government had to face a dilemma because of the pandemic but with the right and effective
2020-07-20
∘ Solomon Pavliashvili ∘ Zurab Garakanidze ∘
THE IMPACT OF THE PANDEMIC ON THE "EU SOUTHERN GAS CORRIDOR" (SGC) IN GEORGIA
Summary Between 2000 and 2015, world gas consumption increased by almost 45% - from 2405 to 3469 bcm. The share of gas in the world's fuel and energy balance in last years also increased to 22-23%. According to similar oil statistics, its consumption increased by only 10-11% during the same period, indicating a serious competitiveness of the natural gas with oil, and a serious alternative to the other energy resources. Prior to the pandemic, trillions of turnover of the gas market allowed us to talk about approaching the status of a gas market as the so-called global in terms of gas pipelines stretching between macro-regions, as well as maritime shipping routes. The months-long process of spreading Coronavirus "Covid 19" has shown that the full implementation of the "EU Southern Gas Corridor" (SGC) projects in Georgia, in addition to Russia's direct military or "soft" intervention, will be hindered by the Coronavirus pandemic. Soon, it will be necessary to build
2020-07-20
THE IMPACT OF THE PANDEMIC ON THE "EU SOUTHERN GAS CORRIDOR" (SGC) IN GEORGIA
Summary Between 2000 and 2015, world gas consumption increased by almost 45% - from 2405 to 3469 bcm. The share of gas in the world's fuel and energy balance in last years also increased to 22-23%. According to similar oil statistics, its consumption increased by only 10-11% during the same period, indicating a serious competitiveness of the natural gas with oil, and a serious alternative to the other energy resources. Prior to the pandemic, trillions of turnover of the gas market allowed us to talk about approaching the status of a gas market as the so-called global in terms of gas pipelines stretching between macro-regions, as well as maritime shipping routes. The months-long process of spreading Coronavirus "Covid 19" has shown that the full implementation of the "EU Southern Gas Corridor" (SGC) projects in Georgia, in addition to Russia's direct military or "soft" intervention, will be hindered by the Coronavirus pandemic. Soon, it will be necessary to build
2020-07-20
∘ Paata Koghuashvili ∘ Gennady Bagaturia ∘
PUBLIC-PRIVATE PARTNERSHIP IN THE FIELD OF INNOVATION: CURRENT SITUATION AND DEVELOPMENT PROSPECTS
Summary The use of the mechanism of public-private partnerships is promising in such areas of activity as the introduction of low-waste and non-waste production technologies, the exclusion of the use of food additives hazardous to human health, etc. In these areas, the business is either not interested, or it has no desire to participate in such projects without the support of the State, due to the high science capacity of the projects, the duration of their implementation and the high risks associated with these provisions. The current situation and prospects for the development of public-private partnerships in the agro-industrial complex of Georgia are investigated. Concrete recommendations and mechanisms for their implementation are given. Keywords: Innovation; business; public private
2020-07-20
PUBLIC-PRIVATE PARTNERSHIP IN THE FIELD OF INNOVATION: CURRENT SITUATION AND DEVELOPMENT PROSPECTS
Summary The use of the mechanism of public-private partnerships is promising in such areas of activity as the introduction of low-waste and non-waste production technologies, the exclusion of the use of food additives hazardous to human health, etc. In these areas, the business is either not interested, or it has no desire to participate in such projects without the support of the State, due to the high science capacity of the projects, the duration of their implementation and the high risks associated with these provisions. The current situation and prospects for the development of public-private partnerships in the agro-industrial complex of Georgia are investigated. Concrete recommendations and mechanisms for their implementation are given. Keywords: Innovation; business; public private
2020-07-20
∘ Lina Datunashvili ∘
AGRICULTURE AND ECONOMIC CHALLENGE IN CONDITIONS OF PANDEMIC
Summary By 2020, the worldwide pandemic of the new coronavirus (COVID-19) has affected most countries in the world, spreading to 210 countries in two months, injuring more than 4,5 million people and more than 3.5 thousand died (these data are changing daily). The economies of the world's largest countries have fallen into recession, with half the world being forced into isolation. The closure of borders, quarantines, closed markets and, in general, trade delays are particularly affecting countries severely suffered by coronavirus and food insecurity. The shock caused by coronavirus affected all sectors of the economy, including agriculture. It ranks among the industries that are less affected than others, but the consequences of the pandemic will be negative for both agricultural producers and consumers (lack of labor, food security, disruption of the production process, food shortages, rising prices, etc.). But given that no virus can eradicate human demand for food,
2020-07-20
AGRICULTURE AND ECONOMIC CHALLENGE IN CONDITIONS OF PANDEMIC
Summary By 2020, the worldwide pandemic of the new coronavirus (COVID-19) has affected most countries in the world, spreading to 210 countries in two months, injuring more than 4,5 million people and more than 3.5 thousand died (these data are changing daily). The economies of the world's largest countries have fallen into recession, with half the world being forced into isolation. The closure of borders, quarantines, closed markets and, in general, trade delays are particularly affecting countries severely suffered by coronavirus and food insecurity. The shock caused by coronavirus affected all sectors of the economy, including agriculture. It ranks among the industries that are less affected than others, but the consequences of the pandemic will be negative for both agricultural producers and consumers (lack of labor, food security, disruption of the production process, food shortages, rising prices, etc.). But given that no virus can eradicate human demand for food,
2020-07-20
∘ Nata Davlasheridze ∘
NOBEL PRIZE WINNERS ON ECONOMIC AND FINANCIAL ORDER IN THE POST-PANDEMIC WORLD COVID-19
Summary The article discusses topical issues related to the spread of coronovirus infection and the economic and financial difficulties faced by countries. Particular emphasis is placed on the analysis of the most difficult situation and any proposals to withdraw from it made by Nobel Prize winners in economics Joseph E. Stiglitz, Robert J. Shiller, Vernon L. Smith, Robert John Aumann, Paul M. Romer, James Heckman, Bengt Holmstrom, Lars Peter Hansen, Paul R. Krugman, Abhijit Vinayak Banerjee and Esther
2020-07-20
NOBEL PRIZE WINNERS ON ECONOMIC AND FINANCIAL ORDER IN THE POST-PANDEMIC WORLD COVID-19
Summary The article discusses topical issues related to the spread of coronovirus infection and the economic and financial difficulties faced by countries. Particular emphasis is placed on the analysis of the most difficult situation and any proposals to withdraw from it made by Nobel Prize winners in economics Joseph E. Stiglitz, Robert J. Shiller, Vernon L. Smith, Robert John Aumann, Paul M. Romer, James Heckman, Bengt Holmstrom, Lars Peter Hansen, Paul R. Krugman, Abhijit Vinayak Banerjee and Esther
2020-07-20
∘ Nata Davlasheridze ∘
FEATURES OF MODERN CORONACRISIS AND THE WAY OUT OF IT: PRACTICE AND ECONOMIC THEORY
Summary The paper examines the features of modern coronacrisis in comparison with the crises of previous decades. The need and importance of examining crises as an integral part of economic dynamics is noted. It is stressed that economic dynamics are one of the most popular directions in the study of Nobel laureates in the field of economics (John Forbes Nash, James Alexander Mirrlees, Robert John Aumann, Edmund S. Phelps, Robert Alexander Mundell, Christopher Antoniou Pissarides, Joseph E. Stiglitz, Eric S. Maskin, Myron Samuel Scholes and others). It is stated that the economic and social consequences of modern coronacrisis will be extremely asymmetric and will lead to a new jump in inequality unprecedented in amplitude and speed. The presentation of China 's national project, "New Infrastructure," is noteworthy as one example of the way out of the crisis. The practical experience already gained by other countries, including China, will be the best example for Georgia in developing
2020-07-20
FEATURES OF MODERN CORONACRISIS AND THE WAY OUT OF IT: PRACTICE AND ECONOMIC THEORY
Summary The paper examines the features of modern coronacrisis in comparison with the crises of previous decades. The need and importance of examining crises as an integral part of economic dynamics is noted. It is stressed that economic dynamics are one of the most popular directions in the study of Nobel laureates in the field of economics (John Forbes Nash, James Alexander Mirrlees, Robert John Aumann, Edmund S. Phelps, Robert Alexander Mundell, Christopher Antoniou Pissarides, Joseph E. Stiglitz, Eric S. Maskin, Myron Samuel Scholes and others). It is stated that the economic and social consequences of modern coronacrisis will be extremely asymmetric and will lead to a new jump in inequality unprecedented in amplitude and speed. The presentation of China 's national project, "New Infrastructure," is noteworthy as one example of the way out of the crisis. The practical experience already gained by other countries, including China, will be the best example for Georgia in developing
2020-07-20
∘ Gulnaz Erkomaishvili ∘
THE ECONOMIC CHALLENGES OF CORONAVIRUS AND THE TRENDS TO OVERCOME IT IN GEORGIA
Summary The pandemic caused by Coronavirus has caused unprecedented shifts in the world economy. Especially the serious economic damage caused to such countries, where the economy was in a great place for tourism. Georgia is one of such countries. In today's difficult conditions, the development of local production is a vital task for Georgia. The country should try to produce products and services, which have the resources or the ratio of a certain advantage. The paper presents the economic challenges of Coronavirus and the tendencies to overcome it in Georgia. Given and analyzed are the sectors, the development of which, together with traditional sectors, will help to overcome poverty and economic growth in
2020-07-20
THE ECONOMIC CHALLENGES OF CORONAVIRUS AND THE TRENDS TO OVERCOME IT IN GEORGIA
Summary The pandemic caused by Coronavirus has caused unprecedented shifts in the world economy. Especially the serious economic damage caused to such countries, where the economy was in a great place for tourism. Georgia is one of such countries. In today's difficult conditions, the development of local production is a vital task for Georgia. The country should try to produce products and services, which have the resources or the ratio of a certain advantage. The paper presents the economic challenges of Coronavirus and the tendencies to overcome it in Georgia. Given and analyzed are the sectors, the development of which, together with traditional sectors, will help to overcome poverty and economic growth in
2020-07-20
∘ Gia Zoidze ∘
RISKS CAUSED BY PANDEMICS AND ANTI-CRISIS MANAGEMENT
Summary The pandemic - Covid-19 - is currently a major crisis in the healthcare system of most countries in the world. Since the Corona virus first appeared in late 2019, it has spread to all continents (except Antarctica). It is very important for Georgia, as a developing country, to attract financial resources or various types of assistance from international organizations, individual states or private investors. International monetary resources in the Georgian economy were represented by a significant share even before the crisis. In addition, revenues from tourism and remittances accounted for about 25% of GDP. Therefore, the amount of aid received from international donors largely determines how much of the potential acute economic damage caused by the pandemic will be reduced. However, I think that in each acute or moderate crisis, bringing Georgia out of the economic crisis should not depend only on the assistance provided by international donors. For that, I think it
2020-07-20
RISKS CAUSED BY PANDEMICS AND ANTI-CRISIS MANAGEMENT
Summary The pandemic - Covid-19 - is currently a major crisis in the healthcare system of most countries in the world. Since the Corona virus first appeared in late 2019, it has spread to all continents (except Antarctica). It is very important for Georgia, as a developing country, to attract financial resources or various types of assistance from international organizations, individual states or private investors. International monetary resources in the Georgian economy were represented by a significant share even before the crisis. In addition, revenues from tourism and remittances accounted for about 25% of GDP. Therefore, the amount of aid received from international donors largely determines how much of the potential acute economic damage caused by the pandemic will be reduced. However, I think that in each acute or moderate crisis, bringing Georgia out of the economic crisis should not depend only on the assistance provided by international donors. For that, I think it
2020-07-20
∘ Sofiko Tevdoradze ∘
COVID 19 CHALLENGES IN THE DEVELOPMENT OF TOURISM BUSINESS – PROBLEMS AND PERSPECTIVES
Summary Tourism is an important part of country economics, international relations, or business activities. Tourism can support peace and sustainable development of the country via increase of income, diversification of the economics, protection of the environment and by drawing together different cultures. This branch was established at modern stage as the most rapidly developing branch of economics. It considerably enhances the level of foreign currency flow to the country, creation of workplaces, overcoming the poverty, social and economic welfare of the population and, consequently, accelerated development of economics. Tourism creates workplaces much quicker than other branches of economics. It gives the possibility to balance the growth of economic potential. Tourism is one of the most significant sectors of the economics of Georgia, which generates almost 11% of GDP. In 2019 the overall number of the visitors reached 9357964, which is in 7.8 % more than that of previous
2020-07-20
COVID 19 CHALLENGES IN THE DEVELOPMENT OF TOURISM BUSINESS – PROBLEMS AND PERSPECTIVES
Summary Tourism is an important part of country economics, international relations, or business activities. Tourism can support peace and sustainable development of the country via increase of income, diversification of the economics, protection of the environment and by drawing together different cultures. This branch was established at modern stage as the most rapidly developing branch of economics. It considerably enhances the level of foreign currency flow to the country, creation of workplaces, overcoming the poverty, social and economic welfare of the population and, consequently, accelerated development of economics. Tourism creates workplaces much quicker than other branches of economics. It gives the possibility to balance the growth of economic potential. Tourism is one of the most significant sectors of the economics of Georgia, which generates almost 11% of GDP. In 2019 the overall number of the visitors reached 9357964, which is in 7.8 % more than that of previous
2020-07-20
∘ Tsitsino Tetrauli ∘
THE PANDEMIC AND ECONOMIC PROBLEMS CAUSED BY IT
Summary The article deals with the economic problems caused by the Covid-19
2020-07-20
THE PANDEMIC AND ECONOMIC PROBLEMS CAUSED BY IT
Summary The article deals with the economic problems caused by the Covid-19
2020-07-20
∘ Khatuna Todua ∘
THE CORONAVIRUS CRISIS: THE BIG CHALLENGES AND NEW OPPORTUNITIES FOR GEORGIAS ECONOMY
Summary The coronavirus is having a profound and serious impact on the global economy. More than 200 countries now have confirmed cases of COVID – 19, including Georgia. The coronavirus (COVID-19) outbreak has brought considerable human suffering and major economic disruption. Indeed, the more the SARS-CoV-2 virus spreads around the globe – there are more than 2,7 million confirmed cases of the related COVID -19 disease, the greater concern over not just our health, but our livelihoods. Just how big an impact can a pandemic like COVID -19 have on the global economy? The latest economic projections suggest it will be dramatic, especially with a potential vaccine still several months away, at best. Indeed, the international Monetary Fund (IMF), recently predicted the pandemic would incite the worst economic slump since the Great Depression. While experts can estimate what the economic fallout from a pandemic such as the coronavirus will be, the precise
2020-07-20
THE CORONAVIRUS CRISIS: THE BIG CHALLENGES AND NEW OPPORTUNITIES FOR GEORGIAS ECONOMY
Summary The coronavirus is having a profound and serious impact on the global economy. More than 200 countries now have confirmed cases of COVID – 19, including Georgia. The coronavirus (COVID-19) outbreak has brought considerable human suffering and major economic disruption. Indeed, the more the SARS-CoV-2 virus spreads around the globe – there are more than 2,7 million confirmed cases of the related COVID -19 disease, the greater concern over not just our health, but our livelihoods. Just how big an impact can a pandemic like COVID -19 have on the global economy? The latest economic projections suggest it will be dramatic, especially with a potential vaccine still several months away, at best. Indeed, the international Monetary Fund (IMF), recently predicted the pandemic would incite the worst economic slump since the Great Depression. While experts can estimate what the economic fallout from a pandemic such as the coronavirus will be, the precise
2020-07-20
∘ Lia Totladze ∘ Mamuka Khuskivadze ∘
COVID-19 IMPACT ON FOREIGHN DIRECT INVESTMENT
Summary Attracting foreign capital and access to foreign sources is vital for developing and transition economies. According to international studies and practical experience, the country's good investment climate and politically and economically stable environment are attractive for foreign direct investment. But there are factor or a combination of factors whose impact on the investment environment is virtually unexplored. This is exactly what is happening in the world today. The pandemic that has virtually stopped the world has had an incredible impact on every country. In this case, globalization has clearly accelerated the growth of influence. The paper discusses the impact of novel coronavirus Covid-19 to foreign direct Investment. We consider FDI flows under three possible scenarios for the effectiveness of the public health and economic policy measures being taken by countries. The changes in foreign direct investment flows and geography are estimated to be related to
2020-07-20
COVID-19 IMPACT ON FOREIGHN DIRECT INVESTMENT
Summary Attracting foreign capital and access to foreign sources is vital for developing and transition economies. According to international studies and practical experience, the country's good investment climate and politically and economically stable environment are attractive for foreign direct investment. But there are factor or a combination of factors whose impact on the investment environment is virtually unexplored. This is exactly what is happening in the world today. The pandemic that has virtually stopped the world has had an incredible impact on every country. In this case, globalization has clearly accelerated the growth of influence. The paper discusses the impact of novel coronavirus Covid-19 to foreign direct Investment. We consider FDI flows under three possible scenarios for the effectiveness of the public health and economic policy measures being taken by countries. The changes in foreign direct investment flows and geography are estimated to be related to
2020-07-20
∘ Eter Kakulia ∘ Nana Bibilashvili ∘
PROBLEMS EXISTED IN SMALL BUSINESS DEVELOPMENT AND CAUSED BY COVID-19 IN GEORGIA
Summary The paper examines three types of small business on the example of Germany and the United States; As well as the permanent problems of small business and COVID-19 problems; In order to overcome the crisis caused by the pandemic, in some foreign countries and in Georgia, anti-crisis plans financed (already implemented) will be implemented. Comparisons have been made and the need to share the experience of foreign countries, the targeted distribution of expenditures to overcome the problems caused by the pandemic, as well as the support of small and medium-sized businesses has been
2020-07-20
PROBLEMS EXISTED IN SMALL BUSINESS DEVELOPMENT AND CAUSED BY COVID-19 IN GEORGIA
Summary The paper examines three types of small business on the example of Germany and the United States; As well as the permanent problems of small business and COVID-19 problems; In order to overcome the crisis caused by the pandemic, in some foreign countries and in Georgia, anti-crisis plans financed (already implemented) will be implemented. Comparisons have been made and the need to share the experience of foreign countries, the targeted distribution of expenditures to overcome the problems caused by the pandemic, as well as the support of small and medium-sized businesses has been
2020-07-20
∘ Natia Kakhniashvili ∘
THE IMPACT OF THE GLOBAL PANDEMIC ON CORPORATE MERGER AND ACQUISITION OPERATIONS
Summary A corporation merger and acquisition operation is the formation of two companies into one structural unit and is managed by a common management. As a rule, these operations are carried out to strengthen the business, increase market share, achieve synergistic effect, to obtain tax benefits, to diversify products or to gain other advantages, however, as the study showed, the percentage of successful mergers in these operations is quite low. An important factor is the impact of the corona virus on economic activities, especially mergers and acquisitions. The economic damage comes not from the virus itself, but more from its preventive measures. However, it affects the decisions of both consumers and states, as well as business operators. The main problems and obstacles that corporations have already solved are noteworthy, and this is clearly evidenced by the statistical data, both in the United States and Europe, and globally. It is too early to draw conclusions about the
2020-07-20
THE IMPACT OF THE GLOBAL PANDEMIC ON CORPORATE MERGER AND ACQUISITION OPERATIONS
Summary A corporation merger and acquisition operation is the formation of two companies into one structural unit and is managed by a common management. As a rule, these operations are carried out to strengthen the business, increase market share, achieve synergistic effect, to obtain tax benefits, to diversify products or to gain other advantages, however, as the study showed, the percentage of successful mergers in these operations is quite low. An important factor is the impact of the corona virus on economic activities, especially mergers and acquisitions. The economic damage comes not from the virus itself, but more from its preventive measures. However, it affects the decisions of both consumers and states, as well as business operators. The main problems and obstacles that corporations have already solved are noteworthy, and this is clearly evidenced by the statistical data, both in the United States and Europe, and globally. It is too early to draw conclusions about the
2020-07-20
∘ Revaz Lortkipanidze ∘
ABOUT THE LESSONS OF COVID-19 AND THE ECONOMIC PRIORITIES OF GEORGIA
Summary The Georgian economy fought very well against COVID-19, but the economic stagnation clearly demonstrated, that the economics of individual sectors and, in general - the Georgian business are vitally considerable and in the near future, the focus of the arguments will set out priorities of the best-class education system and agriculture - only after we will receive a proper real industry. Accordingly, an economic strategy should be work out by coordination with business and mass, which can guarantee the stable development of future global economy as well. In the context of the global pandemic, the need for business technologies such as reasonable coordination with the state's economic policy, the use of anti-inflation planning mechanisms, constant monitoring of competitiveness and "predatory" prices and proper concentration has become particularly acute. This is obvious that the extreme circumstances of "Coronaeconomics" have revealed, that, in the near future, direct
2020-07-20
ABOUT THE LESSONS OF COVID-19 AND THE ECONOMIC PRIORITIES OF GEORGIA
Summary The Georgian economy fought very well against COVID-19, but the economic stagnation clearly demonstrated, that the economics of individual sectors and, in general - the Georgian business are vitally considerable and in the near future, the focus of the arguments will set out priorities of the best-class education system and agriculture - only after we will receive a proper real industry. Accordingly, an economic strategy should be work out by coordination with business and mass, which can guarantee the stable development of future global economy as well. In the context of the global pandemic, the need for business technologies such as reasonable coordination with the state's economic policy, the use of anti-inflation planning mechanisms, constant monitoring of competitiveness and "predatory" prices and proper concentration has become particularly acute. This is obvious that the extreme circumstances of "Coronaeconomics" have revealed, that, in the near future, direct
2020-07-20
∘ Sofio Macharashvili ∘
PANDEMIC-INDUCED RECESSION - A "SHOCK" TO WORLD BUSINESS
Summary 2020 is a kind of testing year for the modern world. On the battlefield, on one side, is the Corona virus, and on the other, the entire civilized world with technological innovations. But today, unfortunately, the advantage is still on the side of Covid19, and it is likely that this will continue until scientists find an innovative vaccine against the coronavirus. As with other crises, there is still hope for innovation - an innovative vaccine. The global recession of Covid19 and its aftermath in 2020 has become an important impediment to the development of the world economy. The Corona virus has affected countries such as China, the United States, Italy, Spain, Germany, France, Iran, Switzerland, North Korea, Brazil, and others. The curfew was announced in most countries. Cities and countries were closed. The spread of the Corona virus pandemic has affected the lives of almost all people and affected all sectors. Corona virus has killed many people. Everyday routine
2020-07-20
PANDEMIC-INDUCED RECESSION - A "SHOCK" TO WORLD BUSINESS
Summary 2020 is a kind of testing year for the modern world. On the battlefield, on one side, is the Corona virus, and on the other, the entire civilized world with technological innovations. But today, unfortunately, the advantage is still on the side of Covid19, and it is likely that this will continue until scientists find an innovative vaccine against the coronavirus. As with other crises, there is still hope for innovation - an innovative vaccine. The global recession of Covid19 and its aftermath in 2020 has become an important impediment to the development of the world economy. The Corona virus has affected countries such as China, the United States, Italy, Spain, Germany, France, Iran, Switzerland, North Korea, Brazil, and others. The curfew was announced in most countries. Cities and countries were closed. The spread of the Corona virus pandemic has affected the lives of almost all people and affected all sectors. Corona virus has killed many people. Everyday routine
2020-07-20
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
THE IMPACT OF THE PANDEMIC ON ENVIRONMENTAL PROBLEMS IN THE WORLD
Summary One of the most interesting issues today is ecology and the problems associated with it in a pandemic. Changes in the environment, especially against the backdrop of epidemics in general and coronavirus in particular, can even be perceived positively today: air purification, especially in large cities, cleaning, water reservoirs, minimizing emissions, cleaning the atmosphere, and so on. However, the universal quarantine will end when it is, and all this will return to the old standards, examples of which can be found in the world. It’s hard to say that a pandemic that takes the lives of many people can have any positive consequences, but it’s quite clear that this is indeed happening and, of course, it has a short period of time. The basic conclusion that the world has clearly seen is that nature really has the ability to restore itself if man does not prevent it to his
2020-07-20
THE IMPACT OF THE PANDEMIC ON ENVIRONMENTAL PROBLEMS IN THE WORLD
Summary One of the most interesting issues today is ecology and the problems associated with it in a pandemic. Changes in the environment, especially against the backdrop of epidemics in general and coronavirus in particular, can even be perceived positively today: air purification, especially in large cities, cleaning, water reservoirs, minimizing emissions, cleaning the atmosphere, and so on. However, the universal quarantine will end when it is, and all this will return to the old standards, examples of which can be found in the world. It’s hard to say that a pandemic that takes the lives of many people can have any positive consequences, but it’s quite clear that this is indeed happening and, of course, it has a short period of time. The basic conclusion that the world has clearly seen is that nature really has the ability to restore itself if man does not prevent it to his
2020-07-20
∘ Giuli Keshelashvili ∘ Mariam Jibuti ∘
ANTI-CRISIS ECONOMIC PLAN OF THE GOVERNMENT OF GEORGIA AND BUSINESS CHALLENGES
Summary Work provides discussion of economic problems caused by coronavirus in the world and in Georgia. It studies and analyses the key areas of government’s anti-crisis economic plan. It demonstrates that the government’s efforts should be oriented towards supporting of small and medium businesses, development of local production, attraction of investments and promotion of exports to the maximal possible extent. Keywords: anti-crisis management, economic program, small and medium business, investments, export
2020-07-20
ANTI-CRISIS ECONOMIC PLAN OF THE GOVERNMENT OF GEORGIA AND BUSINESS CHALLENGES
Summary Work provides discussion of economic problems caused by coronavirus in the world and in Georgia. It studies and analyses the key areas of government’s anti-crisis economic plan. It demonstrates that the government’s efforts should be oriented towards supporting of small and medium businesses, development of local production, attraction of investments and promotion of exports to the maximal possible extent. Keywords: anti-crisis management, economic program, small and medium business, investments, export
2020-07-20
∘ Irakli Kvaraia ∘
PROBLEMS ENCOUNTERED IN THE CONSTRUCTION SECTOROF GEORGIA, DURING THE PANDEMIC
Summary During the pandemic in Georgia, despite the least restrictions of the construction work, nevertheless, a number of serious problems arose that should be taken into account in the future. This is connected with the mobilization and movement of labor, ensuring the strengthening of incomplete structures at a sudden stoppage of construction and, most importantly, include in all contractual conditions the possibility of extending the construction completion period during a
2020-07-20
PROBLEMS ENCOUNTERED IN THE CONSTRUCTION SECTOROF GEORGIA, DURING THE PANDEMIC
Summary During the pandemic in Georgia, despite the least restrictions of the construction work, nevertheless, a number of serious problems arose that should be taken into account in the future. This is connected with the mobilization and movement of labor, ensuring the strengthening of incomplete structures at a sudden stoppage of construction and, most importantly, include in all contractual conditions the possibility of extending the construction completion period during a
2020-07-20
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
THE MODERN CHALLENGES OF THE PANDEMIC TOURISM IN THE SECTOR AND WAYS TO SOLVE IT
Summary Despite the successful development of one of the most important sectors of the economy - tourism in recent decades, the sector at the same time is quite dependent on disasters and risks of various diseases, e.g. such as pandemic threats. On March 11, 2020, the World Health Organization announced the release of a new coronavirus COVID-19 as a pandemic. In 4-5 months, more than 5,5 million people around the world became infected and more than 4,5 thousand died (these figures change daily in the face of a raging pandemic). The virus has spread to about 210 countries. The current pandemic has had a negative impact on the economic development of countries and has also paralyzed the entire world. It has affected all sectors of the economy. But the biggest blow it dealt to tourism was from the very first day of its visit. The paper discusses the economic shock that accompanies coronavirus, which is quite strange and at the same time has a negative impact on both the supply and
2020-07-20
THE MODERN CHALLENGES OF THE PANDEMIC TOURISM IN THE SECTOR AND WAYS TO SOLVE IT
Summary Despite the successful development of one of the most important sectors of the economy - tourism in recent decades, the sector at the same time is quite dependent on disasters and risks of various diseases, e.g. such as pandemic threats. On March 11, 2020, the World Health Organization announced the release of a new coronavirus COVID-19 as a pandemic. In 4-5 months, more than 5,5 million people around the world became infected and more than 4,5 thousand died (these figures change daily in the face of a raging pandemic). The virus has spread to about 210 countries. The current pandemic has had a negative impact on the economic development of countries and has also paralyzed the entire world. It has affected all sectors of the economy. But the biggest blow it dealt to tourism was from the very first day of its visit. The paper discusses the economic shock that accompanies coronavirus, which is quite strange and at the same time has a negative impact on both the supply and
2020-07-20
∘ Tamar Koblianidze ∘ Tamar Tabidze ∘
FUTURE TOURISM TRENDS AFTER POST – PANDEMIC PERIOD
Annotation: This article refers to current tourism challenges that bring together experts and tourism professionals with different provisions and suggestion by UNWTO. They assume it will cause a significant diversification of products and will promote some of the trendy types considering the new status quo. UNWTO anticipates, that several trends will gain a popularity as per their content and possibility to provide social distancing and safe health standards. Article presents Georgian tourism industry outline, how it responds to the existing challenges caused by pandemic. It also gives a brief analyse of foreign experience and local givens. Key words: Covid -19, Tourism, challenges, opportunities, UNTWO. Introduction International tourist arrivals (overnight visitors) reached 1,5 billion worldwide in recent years [ UNWTO: 2020:2], generating euro 1,7 trillion in receipts in destination, that is 3.1 % of GDP. Tourism today accounts for 10% of global Gross Domestic
2020-07-20
FUTURE TOURISM TRENDS AFTER POST – PANDEMIC PERIOD
Annotation: This article refers to current tourism challenges that bring together experts and tourism professionals with different provisions and suggestion by UNWTO. They assume it will cause a significant diversification of products and will promote some of the trendy types considering the new status quo. UNWTO anticipates, that several trends will gain a popularity as per their content and possibility to provide social distancing and safe health standards. Article presents Georgian tourism industry outline, how it responds to the existing challenges caused by pandemic. It also gives a brief analyse of foreign experience and local givens. Key words: Covid -19, Tourism, challenges, opportunities, UNTWO. Introduction International tourist arrivals (overnight visitors) reached 1,5 billion worldwide in recent years [ UNWTO: 2020:2], generating euro 1,7 trillion in receipts in destination, that is 3.1 % of GDP. Tourism today accounts for 10% of global Gross Domestic
2020-07-20
∘ Givi Kuparadze ∘
COVID 19 AND BETTER DEATH
Summary Lately there is a lot of talk that after the Covid 19 pandemic; our world will no longer be the same as we used to. However no one talks about what will change. In my opinion, what will definitely change is our attitude towards the death. It is already clear that the pandemic will cause a radical reassessment of all aspects of death. This refers to the process of death, mourning, funeral and so on. There is a lot of money in the wellness industry today, according to data of 2017 more than $ 4.2 trillion. It is more than in the pharmaceutical business. That's why we need to get rid of fears of death in order to get this money ... “Because, to some extent, people reassure themselves that with the proper nutrition and physical exercises, they will always be able to stay young or ... always alive”. (Global Wellness Summit. 2019 Global Wellness Trends Report. P. 93) Against this background, the so-called "positive attitude towards death" movement was
2020-07-20
COVID 19 AND BETTER DEATH
Summary Lately there is a lot of talk that after the Covid 19 pandemic; our world will no longer be the same as we used to. However no one talks about what will change. In my opinion, what will definitely change is our attitude towards the death. It is already clear that the pandemic will cause a radical reassessment of all aspects of death. This refers to the process of death, mourning, funeral and so on. There is a lot of money in the wellness industry today, according to data of 2017 more than $ 4.2 trillion. It is more than in the pharmaceutical business. That's why we need to get rid of fears of death in order to get this money ... “Because, to some extent, people reassure themselves that with the proper nutrition and physical exercises, they will always be able to stay young or ... always alive”. (Global Wellness Summit. 2019 Global Wellness Trends Report. P. 93) Against this background, the so-called "positive attitude towards death" movement was
2020-07-20
∘ Malkhaz Chikobava ∘
CORONAVIRUS - NATURAL PANDEMIC OR GLOBAL SPECIAL OPERATION
Summary The article analyzes the possible causes of the outbreak of the coronavirus pandemic and its impact on the global economy. For this purpose we consider an article by William Engdahl, the famous anti-globalists American economist and political scientist at Princeton University, which was published on March 10 this year under the title "Lock step, it is not a futuristic scenario": Panic and post-pandemic future?”. This article shows that ten years ago, in 2010, the scenario “Pandemic Panic” was prepared, which is being played out in front of us today. The document came from two organizations - the Rockefeller Foundation and the Global Business Network. The creation of the latter organization is associated with Peter Schwartz, who is considered one of the most respected American futurologists. It was Schwartz who developed four scenarios for the development of the world in a report for 2010 after the global financial and economic crisis of 2007-2009.
2020-07-20
CORONAVIRUS - NATURAL PANDEMIC OR GLOBAL SPECIAL OPERATION
Summary The article analyzes the possible causes of the outbreak of the coronavirus pandemic and its impact on the global economy. For this purpose we consider an article by William Engdahl, the famous anti-globalists American economist and political scientist at Princeton University, which was published on March 10 this year under the title "Lock step, it is not a futuristic scenario": Panic and post-pandemic future?”. This article shows that ten years ago, in 2010, the scenario “Pandemic Panic” was prepared, which is being played out in front of us today. The document came from two organizations - the Rockefeller Foundation and the Global Business Network. The creation of the latter organization is associated with Peter Schwartz, who is considered one of the most respected American futurologists. It was Schwartz who developed four scenarios for the development of the world in a report for 2010 after the global financial and economic crisis of 2007-2009.
2020-07-20
∘ Davit Aslanishvili ∘ Kristine Omadze ∘
Covid 19 and International study on Public debt
Annotation. The Pandemic time of Covid19 shows the dramatic increase on borrowing. Our research describes the essence of the state debt and its purpose. When the state borrows money, it promises you to pay. To make this payment (payments), the state increases the bargain (if required) to pay this debt along with many other current payments. The economic effect in this regard is due to the fact that the tax payer perceives the future taxes. The measurement of the perception is difficult and neither the economists nor the other professors are able to form a precise and realized perfection formula. Our analysis is a decisive factor in the time and level of consciousness of the population on this issue (the threat) and what it is to determine the effect of financial borrowing on bond loans. This hypothesis is known as the Ricardian equivalent (Ricardian equivalent of the famous economist David Ricardo). Ricardo first considered this issue in his work. We have a hypothesis that the
2020-07-20
Covid 19 and International study on Public debt
Annotation. The Pandemic time of Covid19 shows the dramatic increase on borrowing. Our research describes the essence of the state debt and its purpose. When the state borrows money, it promises you to pay. To make this payment (payments), the state increases the bargain (if required) to pay this debt along with many other current payments. The economic effect in this regard is due to the fact that the tax payer perceives the future taxes. The measurement of the perception is difficult and neither the economists nor the other professors are able to form a precise and realized perfection formula. Our analysis is a decisive factor in the time and level of consciousness of the population on this issue (the threat) and what it is to determine the effect of financial borrowing on bond loans. This hypothesis is known as the Ricardian equivalent (Ricardian equivalent of the famous economist David Ricardo). Ricardo first considered this issue in his work. We have a hypothesis that the
2020-07-20
∘ Qristine (Ketevan) Kuratashvili ∘
ECONOMIC LEGISLATION AND THE ROLE OF CULTURE IN PROTECTION OF RIGHTS AND INTERESTS OF PERSON
Summary The scientific work examines economic legislation, taking into account the need to protect the rights, freedoms and social-economic interests of each person. Economic legislation, as well as legislation, in general, should also provide for the responsibility of each person for the results of his activities. Therefore, along with rights, responsibility for the results of their activities – taking into account the presence of officials with much more significant rights, should be borne, first of all, by officials in accordance with legal mechanisms developed on the basis of the Theory of balance of the rights and responsibility of officials. As for the economic legislation directly, in order to subordinate economic activity to the protection of human rights, freedoms and social-economic interests of person, the fundamental role should belong to culture, and, in particular, legal culture. In connection with the role of legal culture, which should be reflected in
2020-07-20
ECONOMIC LEGISLATION AND THE ROLE OF CULTURE IN PROTECTION OF RIGHTS AND INTERESTS OF PERSON
Summary The scientific work examines economic legislation, taking into account the need to protect the rights, freedoms and social-economic interests of each person. Economic legislation, as well as legislation, in general, should also provide for the responsibility of each person for the results of his activities. Therefore, along with rights, responsibility for the results of their activities – taking into account the presence of officials with much more significant rights, should be borne, first of all, by officials in accordance with legal mechanisms developed on the basis of the Theory of balance of the rights and responsibility of officials. As for the economic legislation directly, in order to subordinate economic activity to the protection of human rights, freedoms and social-economic interests of person, the fundamental role should belong to culture, and, in particular, legal culture. In connection with the role of legal culture, which should be reflected in
2020-07-20
∘ Gela Lobjanidze ∘
CURRENT RELIGIOUS ASPECTS OF GLOBAL SOCIO-ECONOMIC CRISES
Summary The paper reviews and analyzes the current socio-economic aspects of religion and science in the modern period and the conditions. Particular note is the urgent issues of modern times, such as in the Christian care, business ethics biblical basis of Christian values and the economy; Success and Christian values; Transformations in the culture of post-soviet Georgia; Biblical business Ethics; The knowledge and belief of the modern discourse; Church's role in the transformation of the culture; The church, civil society and the Christian Social. Assessment comprehensive of the world of globalization and integration processes and the importance of the two opposite events – both positive and negative direction of the devlopments. Based on an examination of the various qualified materials and the relationship between religion and science, the role of the Orthodox Church and the necessity of a peaceful, stable, genuine and harmonious development of the
2020-07-20
CURRENT RELIGIOUS ASPECTS OF GLOBAL SOCIO-ECONOMIC CRISES
Summary The paper reviews and analyzes the current socio-economic aspects of religion and science in the modern period and the conditions. Particular note is the urgent issues of modern times, such as in the Christian care, business ethics biblical basis of Christian values and the economy; Success and Christian values; Transformations in the culture of post-soviet Georgia; Biblical business Ethics; The knowledge and belief of the modern discourse; Church's role in the transformation of the culture; The church, civil society and the Christian Social. Assessment comprehensive of the world of globalization and integration processes and the importance of the two opposite events – both positive and negative direction of the devlopments. Based on an examination of the various qualified materials and the relationship between religion and science, the role of the Orthodox Church and the necessity of a peaceful, stable, genuine and harmonious development of the
2020-07-20
∘ Zurab Nozadze ∘
GLOBAL ECONOMY ISSUES
Summary The main directions of researches in modern economic science can be considered: Ø International trade of goods (goods, services, technologies, intellectual property); Ø International Movement of Factors of Production (capital with the form of foreign direct investment, labor of small-skilled and unskilled workers in the form of natural migration and in the form of "mental outflow"); Ø International financial operations: loans (private, state, international organizations), fixed securities (shares, bonds and other debt instruments), financial produced instruments (futures (industrial financial instrument, contract), Ø options (an agreement that entitles the buyer, but not an obligation, to buy or sell the specified asset at a certain price or before a certain date.) and other foreign exchange transactions. The globalization of economic activity necessarily requires its liberalization, that is, reduction or elimination of restrictions on
2020-07-20
GLOBAL ECONOMY ISSUES
Summary The main directions of researches in modern economic science can be considered: Ø International trade of goods (goods, services, technologies, intellectual property); Ø International Movement of Factors of Production (capital with the form of foreign direct investment, labor of small-skilled and unskilled workers in the form of natural migration and in the form of "mental outflow"); Ø International financial operations: loans (private, state, international organizations), fixed securities (shares, bonds and other debt instruments), financial produced instruments (futures (industrial financial instrument, contract), Ø options (an agreement that entitles the buyer, but not an obligation, to buy or sell the specified asset at a certain price or before a certain date.) and other foreign exchange transactions. The globalization of economic activity necessarily requires its liberalization, that is, reduction or elimination of restrictions on
2020-07-20
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
SOME ASPECTS OF THE INTERNATIONAL CAPITAL MOVEMENT
Summary The international capital movement, as an important feature of the development of the modern world economy, has a global character. This process has been particularly active since the second half of the twentieth century, which has its pros and cons for both donor and recipient countries. Out of the two forms of investment (direct and portfolio) according to its aims, foreign direct investment has the predominant role. In the world market, these investments are the basis for the dominance of transnational companies. The movement of investment flows is different in developed, developing and transitional economies, as can be well seen in the digital material presented in the
2020-07-20
SOME ASPECTS OF THE INTERNATIONAL CAPITAL MOVEMENT
Summary The international capital movement, as an important feature of the development of the modern world economy, has a global character. This process has been particularly active since the second half of the twentieth century, which has its pros and cons for both donor and recipient countries. Out of the two forms of investment (direct and portfolio) according to its aims, foreign direct investment has the predominant role. In the world market, these investments are the basis for the dominance of transnational companies. The movement of investment flows is different in developed, developing and transitional economies, as can be well seen in the digital material presented in the
2020-07-20
∘ Lali Khikhadze ∘
CURRENT PROBLEMS OF BUSINESS SAFETY AND FOREIGN TRADE POLICY REGULATION IN GEORGIA AND PRINCIPAL ASPECTS OF ITS IMPROVEMENT
Annotation. Complete integration of the Georgian economy into the global community is particularly important in the first twenties of XXI century that requires active involvement of the state authority and rational regulation of foreign trade relationships as spontaneousand uncontrolled international business relations pose a danger to maintenance of country’s independence and increase of problems in view of business safety. In any country globally, the sustainable foreign economic policy and business safety is essentially determined by the status of balance of payment, development level of the national industry, steady currency, rate of inflation, foreign trade volume (commercial turnover of export and import), size of investment inflows and priority areas of capital investment that collectively affect current status of the country’s economic growth as well as further development of the country. Keywords: foreign trade, importance of state regulation, business safety,
2020-07-20
CURRENT PROBLEMS OF BUSINESS SAFETY AND FOREIGN TRADE POLICY REGULATION IN GEORGIA AND PRINCIPAL ASPECTS OF ITS IMPROVEMENT
Annotation. Complete integration of the Georgian economy into the global community is particularly important in the first twenties of XXI century that requires active involvement of the state authority and rational regulation of foreign trade relationships as spontaneousand uncontrolled international business relations pose a danger to maintenance of country’s independence and increase of problems in view of business safety. In any country globally, the sustainable foreign economic policy and business safety is essentially determined by the status of balance of payment, development level of the national industry, steady currency, rate of inflation, foreign trade volume (commercial turnover of export and import), size of investment inflows and priority areas of capital investment that collectively affect current status of the country’s economic growth as well as further development of the country. Keywords: foreign trade, importance of state regulation, business safety,
2020-07-20
∘ Gela Aladashvili ∘
MANAGEMENT IMPROVING WAYS OF ENVIRONMENTAL PROTECTION
Summary This article deals with discussing aspects of environmental protection management improvement, according to analysis, based on consequences after introducing ISO 14001, that was carried out on the relevant academic literature basis. In contemporary challenges of sustainable development , issues of effective consumption of natural resources are crucially indicated, that should be envisaged by companies, working on these resources. Global announcement to develop environmentally-friendly production, that will be safe for future generations is realized in the working process, this sets objectives for management. Due to this, environmental protection issues really matter ISO 14001, implies certification in the field of environmental protection management and its usage is available in any part of business .Holding this certificate , reveals company’s attitude to control environmental protection management and is a high standard of CSR,this triggers to
2020-07-20
MANAGEMENT IMPROVING WAYS OF ENVIRONMENTAL PROTECTION
Summary This article deals with discussing aspects of environmental protection management improvement, according to analysis, based on consequences after introducing ISO 14001, that was carried out on the relevant academic literature basis. In contemporary challenges of sustainable development , issues of effective consumption of natural resources are crucially indicated, that should be envisaged by companies, working on these resources. Global announcement to develop environmentally-friendly production, that will be safe for future generations is realized in the working process, this sets objectives for management. Due to this, environmental protection issues really matter ISO 14001, implies certification in the field of environmental protection management and its usage is available in any part of business .Holding this certificate , reveals company’s attitude to control environmental protection management and is a high standard of CSR,this triggers to
2020-07-20
∘ Khatuna Berishvili ∘
THE ROLE OF BUSINESS SOCIAL RESPONSIBILITY IN THE SUSTAINABLE AND INNOVATIVE DEVELOPMENT OF SOCIETY
Summary The development of a socially responsible business concept gave impetus to a change in public opinion about the role of business. In modernity, the concept of social responsibility dominates as voluntary assistance to business in solving social problems. Socially responsible business behavior implies its participation in the implementation of state social programs. Responsibility of the business includes active support of all initiatives aimed at developing the business and improving the social climate. Social responsibility regulators are the basis of an innovative culture in society. They contribute to the creative, acmeological, adaptive, stratifying, and integrative functions of the innovation
2020-07-20
THE ROLE OF BUSINESS SOCIAL RESPONSIBILITY IN THE SUSTAINABLE AND INNOVATIVE DEVELOPMENT OF SOCIETY
Summary The development of a socially responsible business concept gave impetus to a change in public opinion about the role of business. In modernity, the concept of social responsibility dominates as voluntary assistance to business in solving social problems. Socially responsible business behavior implies its participation in the implementation of state social programs. Responsibility of the business includes active support of all initiatives aimed at developing the business and improving the social climate. Social responsibility regulators are the basis of an innovative culture in society. They contribute to the creative, acmeological, adaptive, stratifying, and integrative functions of the innovation
2020-07-20
∘ Maya Gogokhia ∘
THE REGULATION ISSUE OF FINANCIAL MARKET
Summary Financial market is important mechanism to attract investments into the counrties economic. Therefore, to develop financial market suitable to world standards is necessary factor of healthy economic. The paper discusses issues of banking system and securities market regulation, including organization of Central Bank activities and their authority, new approach of Basel Committee on Banking Supervision aspects of strengthening securities market regulation. Keywords: financial market, banking system, securities,
2020-07-20
THE REGULATION ISSUE OF FINANCIAL MARKET
Summary Financial market is important mechanism to attract investments into the counrties economic. Therefore, to develop financial market suitable to world standards is necessary factor of healthy economic. The paper discusses issues of banking system and securities market regulation, including organization of Central Bank activities and their authority, new approach of Basel Committee on Banking Supervision aspects of strengthening securities market regulation. Keywords: financial market, banking system, securities,
2020-07-20
∘ Lia Dvalishvili ∘
ON INTERNATIONAL EXPERIENCE OF DEVELOPMENT OF LEGISLATIVE SYSTEM IN THE FIELD OF AIR PROTECTION
Summery The main condition for the development of all the countries of the modern world is the development of a policy of assessing its impact on the surrounding world and responding adequately to it. The impact of human activities on the environment and the ecological aspect of economic growth have laid the foundation for the adoption of legislative action in the field of environmental protection in many countries around the world. The degradation of the natural environment has put at stake the possibility of the development of nature and human society. The reaction to the degradation of nature in the economically developed states was manifested in the creation of a legislative system in the field of environmental protection. The environmental legislation of developed countries in the field of atmospheric air protection is aimed at avoiding the expected loss. Legislation and the format of atmospheric air quality standards vary by country. One of the main factors in
2020-07-20
ON INTERNATIONAL EXPERIENCE OF DEVELOPMENT OF LEGISLATIVE SYSTEM IN THE FIELD OF AIR PROTECTION
Summery The main condition for the development of all the countries of the modern world is the development of a policy of assessing its impact on the surrounding world and responding adequately to it. The impact of human activities on the environment and the ecological aspect of economic growth have laid the foundation for the adoption of legislative action in the field of environmental protection in many countries around the world. The degradation of the natural environment has put at stake the possibility of the development of nature and human society. The reaction to the degradation of nature in the economically developed states was manifested in the creation of a legislative system in the field of environmental protection. The environmental legislation of developed countries in the field of atmospheric air protection is aimed at avoiding the expected loss. Legislation and the format of atmospheric air quality standards vary by country. One of the main factors in
2020-07-20
∘ Khatuna Todua ∘
THE PROBLEMS OF SUSTAINABLE DEVELOPMENT OF GEORGIA AT THE PRESENT STAGE
Summary The Sustainable Development Goals promote eradication of poverty and hunger, combat inequalities, protection of human rights ensure lasting protection of the planet and its natural resources, address climate change. The goals should also create conditions for sustainable, inclusive and sustained economic growth, prosperity and decent work for all. Georgia is among the first countries which committed to the sustainable development agenda soon after the adoption of the UN resolution in 2015 and started integrating them in its domestic policy agenda. Sustainable development means that the balance between economic, social and environmental requirements must be observed. This is not an unachievable goal. This can be accomplished under market economy conditions. The only thing necessary is to put in place strictly defined regulations for the market economy. One of the most important aspects of sustainable development is protection of
2020-07-20
THE PROBLEMS OF SUSTAINABLE DEVELOPMENT OF GEORGIA AT THE PRESENT STAGE
Summary The Sustainable Development Goals promote eradication of poverty and hunger, combat inequalities, protection of human rights ensure lasting protection of the planet and its natural resources, address climate change. The goals should also create conditions for sustainable, inclusive and sustained economic growth, prosperity and decent work for all. Georgia is among the first countries which committed to the sustainable development agenda soon after the adoption of the UN resolution in 2015 and started integrating them in its domestic policy agenda. Sustainable development means that the balance between economic, social and environmental requirements must be observed. This is not an unachievable goal. This can be accomplished under market economy conditions. The only thing necessary is to put in place strictly defined regulations for the market economy. One of the most important aspects of sustainable development is protection of
2020-07-20
∘ Dali Magrakvelidze ∘
THE IMPORTANCE OF USING TECHNOLOGY IN FINANCE
Summary Today, a market economy cannot function without the active implementation and usage of information technology at all stages of goods production and sale. On the one hand, technological achievements help reduce costs over time under other equal conditions. On the other hand, financial institutions continue to invest significant amounts of money in technology in order to gain bank share and maintain their existing positions. Being active in certain areas of finance often leads to the need for large investments in both technology and qualified
2020-07-20
THE IMPORTANCE OF USING TECHNOLOGY IN FINANCE
Summary Today, a market economy cannot function without the active implementation and usage of information technology at all stages of goods production and sale. On the one hand, technological achievements help reduce costs over time under other equal conditions. On the other hand, financial institutions continue to invest significant amounts of money in technology in order to gain bank share and maintain their existing positions. Being active in certain areas of finance often leads to the need for large investments in both technology and qualified
2020-07-20
∘ Babulia Mghebrishvili ∘ M. Bichikashvili ∘
DEPENDENCE OF GEORGIAN CONSUMERSON SOCIAL NETWORKS (CASE OF FACEBOOK)
Summary Virtual relationships have taken a big place in the lives of modern people, in which social networks, including Facebook, play an important role. This social network has become an integral part of the lives of most people in many countries of the world, including Georgia. People became so dependent on Facebook that they didn't even realize it. According to the authors of the article,over-reliance on „Facebook “ is a big problem that affects people in several ways. But, in their opinion, the main thing is damage to human health. The authors of the article, based on their own observations and the results of the online survey, focus on the benefits that people get through using Facebook, which became an objective reality during the coronavirus pandemic. Facebook has played a role in encouraging people in Georgia to “stay home”. According to the authors of the article, despite the positive results brought to the public by Facebook,
2020-07-20
DEPENDENCE OF GEORGIAN CONSUMERSON SOCIAL NETWORKS (CASE OF FACEBOOK)
Summary Virtual relationships have taken a big place in the lives of modern people, in which social networks, including Facebook, play an important role. This social network has become an integral part of the lives of most people in many countries of the world, including Georgia. People became so dependent on Facebook that they didn't even realize it. According to the authors of the article,over-reliance on „Facebook “ is a big problem that affects people in several ways. But, in their opinion, the main thing is damage to human health. The authors of the article, based on their own observations and the results of the online survey, focus on the benefits that people get through using Facebook, which became an objective reality during the coronavirus pandemic. Facebook has played a role in encouraging people in Georgia to “stay home”. According to the authors of the article, despite the positive results brought to the public by Facebook,
2020-07-20
∘ Nino Samchkuashvili ∘
DIGITAL ECONOMICS: PROBLEMS AND PERSPECTIVES
Summary The digital revolution is changing the lives of us and society at an indefinite rate and with unprecedented turmoil, creating both enormous potential and colossal difficulties. New technologies can make a significant contribution to achieving goals in the field of sustainable development. But getting positive results is not guaranteed. In order to fully unlock the socio-economic potential of digital technologies and avoid undesirable consequences, it is necessary to strengthen international cooperation as soon as possible. The problems and challenges facing the digital economy facing business, the state and society, the challenges posed by the emerging digital economy, and the chance of accelerating its development in a circle of specialists, are the subject of intense understanding and research. In this case, we are talking about the analysis of the relationship between digital economy, which relies on the complex of radical investment in the 4th Industrial
2020-07-20
DIGITAL ECONOMICS: PROBLEMS AND PERSPECTIVES
Summary The digital revolution is changing the lives of us and society at an indefinite rate and with unprecedented turmoil, creating both enormous potential and colossal difficulties. New technologies can make a significant contribution to achieving goals in the field of sustainable development. But getting positive results is not guaranteed. In order to fully unlock the socio-economic potential of digital technologies and avoid undesirable consequences, it is necessary to strengthen international cooperation as soon as possible. The problems and challenges facing the digital economy facing business, the state and society, the challenges posed by the emerging digital economy, and the chance of accelerating its development in a circle of specialists, are the subject of intense understanding and research. In this case, we are talking about the analysis of the relationship between digital economy, which relies on the complex of radical investment in the 4th Industrial
2020-07-20
∘ Fati Shengelia ∘
MODERN ECONOMIC CHALLENGES AND THE GEORGIAN ECONOMY Summary
The modern world economy has been challenged by the Coronavirus pandemic. Advanced developed countries have also been unprepared for the ongoing processes. The world economy is in an unprecedented phase of economic shock. Coronavirus has caused economic damage to millions of people, Real GDP growth in Georgia will Fall by 4% by 2020. The country's balance of payments will almost double and approach 10.5%. The implementation of effective policies by the state is far from the expected severe economic consequences. The Georgian government has developed an anti-crisis plan for the country's economic development. One billion 35 million GEL has been allocated for the care of citizens and their social support; 2 billion 110 million GEL for economic care and entrepreneurship support; 350 million GEL for strengthening health care and fighting the pandemic. In this situation, we need to learn to coexist with this virus and carry out economic activities. We need to take into account the
2020-07-20
MODERN ECONOMIC CHALLENGES AND THE GEORGIAN ECONOMY Summary
The modern world economy has been challenged by the Coronavirus pandemic. Advanced developed countries have also been unprepared for the ongoing processes. The world economy is in an unprecedented phase of economic shock. Coronavirus has caused economic damage to millions of people, Real GDP growth in Georgia will Fall by 4% by 2020. The country's balance of payments will almost double and approach 10.5%. The implementation of effective policies by the state is far from the expected severe economic consequences. The Georgian government has developed an anti-crisis plan for the country's economic development. One billion 35 million GEL has been allocated for the care of citizens and their social support; 2 billion 110 million GEL for economic care and entrepreneurship support; 350 million GEL for strengthening health care and fighting the pandemic. In this situation, we need to learn to coexist with this virus and carry out economic activities. We need to take into account the
2020-07-20
∘ Giorgi Kharshiladze ∘
SOME ASPECTS AND MODELS OF THE STRUCTURAL TRANSFORMATION OF GEORGIAN ECONOMY IN THE TRANSITION PERIOD
Summary In this article we examined several aspects of structural transformation in Georgian economy. The main accent was made on the evaluation of the entrepreneurship policy and its results within the association agreement. Since its independence, Georgia faces structural transformation and fundamental challenges. The first one focuses on moving resources into modern industries, while the second one on developing broad capabilities. The experience of some countries shows that structural transformation can fuel rapid growth on its own, but if it is not backed up by fundamentals, growth peters out and remains episodic. On the other hand, the accumulation of fundamentals, which requires costly, time-consuming, and complementary investments across the entire economy, only produces steady but slow growth if it is not backed up by structural change. The bottom line is that, ultimately, sustained growth and convergence require both processes. Until 2012, The Implemented reforms and
2020-07-20
SOME ASPECTS AND MODELS OF THE STRUCTURAL TRANSFORMATION OF GEORGIAN ECONOMY IN THE TRANSITION PERIOD
Summary In this article we examined several aspects of structural transformation in Georgian economy. The main accent was made on the evaluation of the entrepreneurship policy and its results within the association agreement. Since its independence, Georgia faces structural transformation and fundamental challenges. The first one focuses on moving resources into modern industries, while the second one on developing broad capabilities. The experience of some countries shows that structural transformation can fuel rapid growth on its own, but if it is not backed up by fundamentals, growth peters out and remains episodic. On the other hand, the accumulation of fundamentals, which requires costly, time-consuming, and complementary investments across the entire economy, only produces steady but slow growth if it is not backed up by structural change. The bottom line is that, ultimately, sustained growth and convergence require both processes. Until 2012, The Implemented reforms and
2020-07-20
∘ Vasil Khizanishvili ∘
GERMAN SOCIAL MARKET ECONOMY AND THE STATE ROLE IN THE FUNCTION OF THE SESTEM
Summary The social market economy is a model of social-economic development of the Federal Republic of Germany. In the above mentioned model the main task of the state is that without privileges to make a guarantee for the egsistence of free and fear competition. Besides that, the state ensures(guarantees) through a distribution the worthy existence of individual citizens and cares for the equality of their chance(possibility). The social market economy with its cornerstones (freedom, competition, property, responsibility and solidarity) creates prosperity for everything. The model of the social market economy is the competition system. It is based on the democratic legal principles of state, according to which must rule not the people but the laws. Because of this the political and economic power is successively limited, the individual decision-makers acquire the non-authoritarian spaces of the personal independence. Thus(Consequently), the regulatory
2020-07-20
GERMAN SOCIAL MARKET ECONOMY AND THE STATE ROLE IN THE FUNCTION OF THE SESTEM
Summary The social market economy is a model of social-economic development of the Federal Republic of Germany. In the above mentioned model the main task of the state is that without privileges to make a guarantee for the egsistence of free and fear competition. Besides that, the state ensures(guarantees) through a distribution the worthy existence of individual citizens and cares for the equality of their chance(possibility). The social market economy with its cornerstones (freedom, competition, property, responsibility and solidarity) creates prosperity for everything. The model of the social market economy is the competition system. It is based on the democratic legal principles of state, according to which must rule not the people but the laws. Because of this the political and economic power is successively limited, the individual decision-makers acquire the non-authoritarian spaces of the personal independence. Thus(Consequently), the regulatory
2020-07-20
∘ Levan Kikilashvili ∘ Rusudan Kvaratskhelia ∘
THE IMPORTANCE CORPORATE SOCIAL RESPONSIBILITY FOR THE FINANCIAL STABILITY OF THE MODERN BANKING SYSTEM
Summary The article discusses the problem of corporate social responsibility from several perspectives, in terms of the state, commercial banks, their customers, and employees. The importance of social responsibility of banks as well as it’s consumers for the stability of the financial system in terms of deposit insurance is discussed. The article presents the special importance of motivation of the bank, the employee involved in customer service, and in turn, it’s socially responsible attitude. The actions of the National Bank are discussed in support of the financial stability of commercial banks in terms of raising public confidence. Keywords: Corporate Social Responsibility, Deposit Insurance, Motivation, Derivatives,
2020-07-20
THE IMPORTANCE CORPORATE SOCIAL RESPONSIBILITY FOR THE FINANCIAL STABILITY OF THE MODERN BANKING SYSTEM
Summary The article discusses the problem of corporate social responsibility from several perspectives, in terms of the state, commercial banks, their customers, and employees. The importance of social responsibility of banks as well as it’s consumers for the stability of the financial system in terms of deposit insurance is discussed. The article presents the special importance of motivation of the bank, the employee involved in customer service, and in turn, it’s socially responsible attitude. The actions of the National Bank are discussed in support of the financial stability of commercial banks in terms of raising public confidence. Keywords: Corporate Social Responsibility, Deposit Insurance, Motivation, Derivatives,
2020-07-20
∘ Ketevan Kokaia ∘
SMALL AND MEDIUM-SIZED BUSINESS FINANCING IN GEORGIA
Summary Development of small and medium-sized business is one of the priority task for the economy of Georgia. Within the conditions of market economy, precisely this type of business creates a competitive environment, which provides increasing of the production quantity and service quality for the customers. For the purpose of application of the full potential of small business in economics, it is imperative to have access to financial resources, that will give opportunity to small and medium-sized business enterprises to carry out entrepreneurial activities actively and
2020-07-20
SMALL AND MEDIUM-SIZED BUSINESS FINANCING IN GEORGIA
Summary Development of small and medium-sized business is one of the priority task for the economy of Georgia. Within the conditions of market economy, precisely this type of business creates a competitive environment, which provides increasing of the production quantity and service quality for the customers. For the purpose of application of the full potential of small business in economics, it is imperative to have access to financial resources, that will give opportunity to small and medium-sized business enterprises to carry out entrepreneurial activities actively and
2020-07-20
∘ Tamar Lazariashvili ∘
INSURANCE MARKET AND AGRIBUSINESS DEVELOPMENT POSSIBILITIES
Summary The article studies the insurance market and agribusiness development opportunities, assesses the role of the state in the development of agri-food business, identifies the factors that hinder the development of agribusiness using appropriate methods, and discusses ways to solve them. The article substantiates the need for the development of legislative acts in coordination with the state and insurance companies, training and retraining of personnel, protection of the market from monopoly, investment of companies attracted by funds, development of the stock market and others. The implementation of agro-insurance will increase the interest of financial institutions in the agricultural sector and make financial resources available to farmers. Based on the analysis of the insurance market, the paper draws conclusions about the need to develop the insurance market in agribusiness and offers relevant recommendations. Keywords: agribusiness, insurance market, agro
2020-07-20
INSURANCE MARKET AND AGRIBUSINESS DEVELOPMENT POSSIBILITIES
Summary The article studies the insurance market and agribusiness development opportunities, assesses the role of the state in the development of agri-food business, identifies the factors that hinder the development of agribusiness using appropriate methods, and discusses ways to solve them. The article substantiates the need for the development of legislative acts in coordination with the state and insurance companies, training and retraining of personnel, protection of the market from monopoly, investment of companies attracted by funds, development of the stock market and others. The implementation of agro-insurance will increase the interest of financial institutions in the agricultural sector and make financial resources available to farmers. Based on the analysis of the insurance market, the paper draws conclusions about the need to develop the insurance market in agribusiness and offers relevant recommendations. Keywords: agribusiness, insurance market, agro
2020-07-20
∘ Larysa Syvolap ∘
FINANCIAL CONTROLLING AS A TOOL FOR EFFECTIVE ENTERPRISE MANAGEMENT
Abstract. The article defines the essence of the "controlling" concept and the preconditions for its occurrence. The correlation of controlling components within the enterprise management system is presented. The discussion defines the essence of financial controlling. The functions of financial controlling are presented. The comparative characteristic of operational and strategic financial controlling is presented. The principles that must be taken into account when building a financial controlling system are identified. The stages of financial introduction controlling in the system of sustainable management development of the enterprise are presented. The ways of improving the financial system controlling are given. Keywords: controlling, financial controlling, sustainable development, management, functions, enterprise, effective management. Formulation of the problem. Modern conditions of enterprises functioning require the management to make the most effective
2020-07-20
FINANCIAL CONTROLLING AS A TOOL FOR EFFECTIVE ENTERPRISE MANAGEMENT
Abstract. The article defines the essence of the "controlling" concept and the preconditions for its occurrence. The correlation of controlling components within the enterprise management system is presented. The discussion defines the essence of financial controlling. The functions of financial controlling are presented. The comparative characteristic of operational and strategic financial controlling is presented. The principles that must be taken into account when building a financial controlling system are identified. The stages of financial introduction controlling in the system of sustainable management development of the enterprise are presented. The ways of improving the financial system controlling are given. Keywords: controlling, financial controlling, sustainable development, management, functions, enterprise, effective management. Formulation of the problem. Modern conditions of enterprises functioning require the management to make the most effective
2020-07-20
∘ Izolda Chiladze ∘
THE ISSUES OF IMPROVEMENT OF ANALYSIS OF FINANCIAL STABILITY OF ENTERPRISES
Summary The purpose of this paper is to improve the analysis of the financial stability of enterprises and identify the key factors affecting the establishment of the sustainable growth trend of enterprises (except the financial sector) in Georgia. The subject of the study is the financial positions and financial results of the analytical enterprises. The first and second categories of joint-stock companies of Georgia and limited liability companies were selected as the research objects. Ten enterprises in total. The research methodology includes methods of economic and statistical analysis, factor analysis and ratio analysis. The results of the study are as follows: Solvency and investment ratios are below the norm in most analytical enterpriseს; Low profitability of enterprises. The Georgian Railway and the Stock Exchange have suffered losses for the last three years. The reinvestment coefficient is negative in the seven analysis firms, indicating that
2020-07-20
THE ISSUES OF IMPROVEMENT OF ANALYSIS OF FINANCIAL STABILITY OF ENTERPRISES
Summary The purpose of this paper is to improve the analysis of the financial stability of enterprises and identify the key factors affecting the establishment of the sustainable growth trend of enterprises (except the financial sector) in Georgia. The subject of the study is the financial positions and financial results of the analytical enterprises. The first and second categories of joint-stock companies of Georgia and limited liability companies were selected as the research objects. Ten enterprises in total. The research methodology includes methods of economic and statistical analysis, factor analysis and ratio analysis. The results of the study are as follows: Solvency and investment ratios are below the norm in most analytical enterpriseს; Low profitability of enterprises. The Georgian Railway and the Stock Exchange have suffered losses for the last three years. The reinvestment coefficient is negative in the seven analysis firms, indicating that
2020-07-20
∘ Manana Kharkheli ∘ Giorgi Morchiladze ∘
ISSUES TO BE CONSIDERED IN COMPANIES DURING CRISIS SITUATION
Summary The spread of the pandemic around the world has significantly changed the rules for doing business in many companies. Organizations in the services, construction, or other sectors faced serious problems, and some of them stopped working altogether. The reality is that many organizations have turned to a crisis. In turn, in a crisis situation, companies need to rethink their strategy and change, in order to survive and adapt to a changed environment. Making changes is often difficult because, among other reasons, the interests of interested parties (employees, suppliers, customers, etc.) overlap significantly. That is why this article discusses the importance of using the practice of “procedural justice” in organizations, which are in crisis situation, because it helps companies to implement the changed strategy effectively in a difficult condition. Creation of term "procedural justice" is related to two social scientists: John W. Thibaut and Laurens Walker.
2020-07-20
ISSUES TO BE CONSIDERED IN COMPANIES DURING CRISIS SITUATION
Summary The spread of the pandemic around the world has significantly changed the rules for doing business in many companies. Organizations in the services, construction, or other sectors faced serious problems, and some of them stopped working altogether. The reality is that many organizations have turned to a crisis. In turn, in a crisis situation, companies need to rethink their strategy and change, in order to survive and adapt to a changed environment. Making changes is often difficult because, among other reasons, the interests of interested parties (employees, suppliers, customers, etc.) overlap significantly. That is why this article discusses the importance of using the practice of “procedural justice” in organizations, which are in crisis situation, because it helps companies to implement the changed strategy effectively in a difficult condition. Creation of term "procedural justice" is related to two social scientists: John W. Thibaut and Laurens Walker.
2020-07-20
∘ Marina Muchiashvili ∘ Ketevan Liparteliani ∘
STATISTICAL ANALYSIS OF THE STRUCTURE OF STATE BUDGET EXPENDITURES IN GEORGIA
Summary The paper presents a statistical analysis of the structure of the state budget expenditures of Georgia, as well as an assessment of the efficiency of budget expenditures. The redistribution of state finances in the budget area according to priority directions is discussed. The paper analyzes the structure and dynamics of state budget expenditures. Also, the changes envisaged by the anti-crisis budget in the state budget expenditures are presented. The paper examines, analyzes, and evaluates the impact of current expenditures and non-financial asset growth on gross domestic product using statistical methods. The dynamics and structure of current expenditures and capital expenditures are studied in detail. Recommendations for changes in fiscal policy to support the country's economic growth are proposed. The paper also discusses the budget deficit, budget deficit / GDP ratio and sources of deficit financing in Georgia. The issue of fiscal sustainability assessment is
2020-07-20
STATISTICAL ANALYSIS OF THE STRUCTURE OF STATE BUDGET EXPENDITURES IN GEORGIA
Summary The paper presents a statistical analysis of the structure of the state budget expenditures of Georgia, as well as an assessment of the efficiency of budget expenditures. The redistribution of state finances in the budget area according to priority directions is discussed. The paper analyzes the structure and dynamics of state budget expenditures. Also, the changes envisaged by the anti-crisis budget in the state budget expenditures are presented. The paper examines, analyzes, and evaluates the impact of current expenditures and non-financial asset growth on gross domestic product using statistical methods. The dynamics and structure of current expenditures and capital expenditures are studied in detail. Recommendations for changes in fiscal policy to support the country's economic growth are proposed. The paper also discusses the budget deficit, budget deficit / GDP ratio and sources of deficit financing in Georgia. The issue of fiscal sustainability assessment is
2020-07-20
∘ George Bregvadze ∘
UNEMPLOYMENT AND EMPLOYMENT IN GEORGIA
Summary The paper discusses the problems of unemployment and employment in Georgia. Based on the statistical materials, the current situation of employment and unemployment in Georgia has been analyzed recently. Due to the situation with the coronavirus epidemic, urgent measures have been taken to control
2020-07-20
UNEMPLOYMENT AND EMPLOYMENT IN GEORGIA
Summary The paper discusses the problems of unemployment and employment in Georgia. Based on the statistical materials, the current situation of employment and unemployment in Georgia has been analyzed recently. Due to the situation with the coronavirus epidemic, urgent measures have been taken to control
2020-07-20
∘ BADRI GECHBAIA ∘ MIRZA SUKNISHVILI ∘ HAMLET SANIKIDZE ∘
FOOD SECURITY AND MODERN CHALLENGES OF AGRIBUSINESS DEVELOPMENT IN GEORGIA
Summary The article assesses the problem of food safety as a major challenge for the country's economic development. Food safety is discussed in terms of quantitative, qualitative and socio-economic components. Fixed changes in component are studied in dynamics, we made conclusion that self-sufficiency rates for agro-food products have improved slightly. The article identifies important problems in terms of food safety in Georgia and we justified to hindering factors in agribusiness development (Low productivity in the field of raw materials production, small scale production and large scale inequality, ineffective use of resource potential, underdeveloped retail and wholesale food fairs, low level of co-operation, low level of knowledge of farmers, incomplete legislative basis, and etc.) Based on factor evaluation is proposed ways to overcome obstacles to agribusiness development. The article provides conclusions and appropriate recommendations on achieving food
2020-07-20
FOOD SECURITY AND MODERN CHALLENGES OF AGRIBUSINESS DEVELOPMENT IN GEORGIA
Summary The article assesses the problem of food safety as a major challenge for the country's economic development. Food safety is discussed in terms of quantitative, qualitative and socio-economic components. Fixed changes in component are studied in dynamics, we made conclusion that self-sufficiency rates for agro-food products have improved slightly. The article identifies important problems in terms of food safety in Georgia and we justified to hindering factors in agribusiness development (Low productivity in the field of raw materials production, small scale production and large scale inequality, ineffective use of resource potential, underdeveloped retail and wholesale food fairs, low level of co-operation, low level of knowledge of farmers, incomplete legislative basis, and etc.) Based on factor evaluation is proposed ways to overcome obstacles to agribusiness development. The article provides conclusions and appropriate recommendations on achieving food
2020-07-20
∘ Tamar Dudauri ∘
THE CURRENT STATE AND PROSPECTS FOR THE DEVELOPMENT OF INNOVATION
Summary At the same time, the effectiveness of the management of innovative processes is determined. The importance of science and technology activities, which translate knowledge and information into a final product, is underpinned in the innovation process. Delaying the introduction of the volume, which for evaluations of the effects of the management of the innovative processes in the social-economic system, does not necessarily use the specific analytical subdivision with the additional quantitative and quantitative quantities? Innovation system Georgia has been analyzed and certain tendencies have developed.Over the past decade, it has become increasingly apparent that innovation potential is a determining factor in assessing the competitiveness of a country's economy.This determines the state of the country in the global market. The global innovation index is used to assess the level of innovative development of a country. Georgia has improved its ranking in the Global
2020-07-20
THE CURRENT STATE AND PROSPECTS FOR THE DEVELOPMENT OF INNOVATION
Summary At the same time, the effectiveness of the management of innovative processes is determined. The importance of science and technology activities, which translate knowledge and information into a final product, is underpinned in the innovation process. Delaying the introduction of the volume, which for evaluations of the effects of the management of the innovative processes in the social-economic system, does not necessarily use the specific analytical subdivision with the additional quantitative and quantitative quantities? Innovation system Georgia has been analyzed and certain tendencies have developed.Over the past decade, it has become increasingly apparent that innovation potential is a determining factor in assessing the competitiveness of a country's economy.This determines the state of the country in the global market. The global innovation index is used to assess the level of innovative development of a country. Georgia has improved its ranking in the Global
2020-07-20
∘ Natalia Solidor ∘
WAYS OF INNOVATIVE DEVELOPMENT OF THE AVIATION INDUSTRY OF UKRAINE
Summary The paper presents the results of the analysis of the current state, problems and prospects of the national aviation industry development in the conditions of a difficult military-political and economic situation. At present, the development of domestic civil aviation is one of the strategic directions, since Ukraine is the largest country in Europe with a favorable geographical position, being a connecting link on the Eurasian routes, and claims to be an international transit hub, which is of particular relevance on the eve of the signing and implementation of bilateral and multilateral agreements on air traffic and joint aviation space («open sky»). The article presents statistics for the last three years, which demonstrate the main trends in this industry. The systemic problems of the aviation industry, that do not allow airports to acquire great significance for the state economy and become competitive participants in the regional aviation services
2020-07-20
WAYS OF INNOVATIVE DEVELOPMENT OF THE AVIATION INDUSTRY OF UKRAINE
Summary The paper presents the results of the analysis of the current state, problems and prospects of the national aviation industry development in the conditions of a difficult military-political and economic situation. At present, the development of domestic civil aviation is one of the strategic directions, since Ukraine is the largest country in Europe with a favorable geographical position, being a connecting link on the Eurasian routes, and claims to be an international transit hub, which is of particular relevance on the eve of the signing and implementation of bilateral and multilateral agreements on air traffic and joint aviation space («open sky»). The article presents statistics for the last three years, which demonstrate the main trends in this industry. The systemic problems of the aviation industry, that do not allow airports to acquire great significance for the state economy and become competitive participants in the regional aviation services
2020-07-20
∘ Tengiz Kavtaradze ∘
SPREADING OF INNOVATIONS IN GEROGIAN LIVESTOCK SECTORAL AND REGIONAL PROBLEMS
Summary The article is dedicated to most importment Agricultural field – raising of livestock actual economic problems in Georgia. Education-analysing on scientificly bases actually are assessed livestock and its food base in modern conditions, are revealed all around raising of livestock processing effciciency, futher enlargement food base proceccing and cheapen reserves. In this arcile are given Georgian republic livestock lag objective and subjective reasons, their overcome economic and management events and carring concrete
2020-07-20
SPREADING OF INNOVATIONS IN GEROGIAN LIVESTOCK SECTORAL AND REGIONAL PROBLEMS
Summary The article is dedicated to most importment Agricultural field – raising of livestock actual economic problems in Georgia. Education-analysing on scientificly bases actually are assessed livestock and its food base in modern conditions, are revealed all around raising of livestock processing effciciency, futher enlargement food base proceccing and cheapen reserves. In this arcile are given Georgian republic livestock lag objective and subjective reasons, their overcome economic and management events and carring concrete
2020-07-20
∘ Marine Tsutskiridze ∘
THE USE OF INVESTMENTS IN THE PROCESS OF INNOVATION DEVELOPMENT OF BUSINESS IN GEORGIA
Summary The article deals with the investments in innovation business of Georgian
2020-07-20
THE USE OF INVESTMENTS IN THE PROCESS OF INNOVATION DEVELOPMENT OF BUSINESS IN GEORGIA
Summary The article deals with the investments in innovation business of Georgian
2020-07-20
∘ Zurab Tsereteli ∘
PROBLEMS AND METHODS OF FORECASTING BUSINESS DEVELOPMENT MANAGEMENT
Summary The paper presents the problems of business development forecasting, concepts of forecasting and forecasting, the need for their development, importance and necessary conditions, the role of management forecasting in business (its development), the main signs and types of classification, methods and models, their advantages. The differences between the forecast and the plan, their peculiarities are given. The conclusion is the ways to solve the problems of forecasting business development and using favorable methods. Keywords: Business Development Forecasting, Forecasting, Forecasting Problems, Key Signs and Types of Classification, Forecasting
2020-07-20
PROBLEMS AND METHODS OF FORECASTING BUSINESS DEVELOPMENT MANAGEMENT
Summary The paper presents the problems of business development forecasting, concepts of forecasting and forecasting, the need for their development, importance and necessary conditions, the role of management forecasting in business (its development), the main signs and types of classification, methods and models, their advantages. The differences between the forecast and the plan, their peculiarities are given. The conclusion is the ways to solve the problems of forecasting business development and using favorable methods. Keywords: Business Development Forecasting, Forecasting, Forecasting Problems, Key Signs and Types of Classification, Forecasting
2020-07-20
∘ Nino Gomelauri ∘
GEORGIA IN THE THIRD PERIOD OF EPIDEMIOLOGIC TRANSITION
Summary The article deals with the history of infectious diseases and parameters of the results of pandemics in Georgia. According to the theory of the third epidemiologic transition, we discuss changes between the indicators of mortality and morbidity. As reported by the concept of the American demographer Abdel Orman, in terms of history epidemiologic transition depicts complex changes of the characteristics of population’s state of health and morbidity, as well as their inter-relationship with demographic, economic and social determinants and consequences. During the first stage of the epidemiologic transition, infectious diseases caused by exogamous factors are prevalent among the reasons of mortality. The second epidemiological transition started during 1800s, when as a result of industrialization and urbanization, societal wealth increased together with significant improvement of sanitary conditions and life standard. Endogamous factors gradually occupied leading
2020-07-20
GEORGIA IN THE THIRD PERIOD OF EPIDEMIOLOGIC TRANSITION
Summary The article deals with the history of infectious diseases and parameters of the results of pandemics in Georgia. According to the theory of the third epidemiologic transition, we discuss changes between the indicators of mortality and morbidity. As reported by the concept of the American demographer Abdel Orman, in terms of history epidemiologic transition depicts complex changes of the characteristics of population’s state of health and morbidity, as well as their inter-relationship with demographic, economic and social determinants and consequences. During the first stage of the epidemiologic transition, infectious diseases caused by exogamous factors are prevalent among the reasons of mortality. The second epidemiological transition started during 1800s, when as a result of industrialization and urbanization, societal wealth increased together with significant improvement of sanitary conditions and life standard. Endogamous factors gradually occupied leading
2020-07-20
∘ Lela Menabdishvili ∘
THE LABOR ACTIVITYATTITUDE AMONG THE STUDENTYOUTH
Summary We have studied the labor activity attitude of students based on sociological research. The attitude of students is different and depends on where they plan to work - at the home country or abroad. For the most students who want to stay at home country, it is extremely important to have a job, and it does not matter in which sector they will work. Among those for whom it is important in which sector they will work, the number of students who want to work in the non - government sector is 8.7% less, those who want to work in the public sector and, respectively, by 4.9% who want to work in private companies. Among the criteria by which students will choose a job, career growth, employment by profession, and high salary were most frequently named. An analysis of the criteria from a gender point of view showed that female students are more career-oriented than male students. In addition, for females, it is more important to have a suitable job in the specialty
2020-07-20
THE LABOR ACTIVITYATTITUDE AMONG THE STUDENTYOUTH
Summary We have studied the labor activity attitude of students based on sociological research. The attitude of students is different and depends on where they plan to work - at the home country or abroad. For the most students who want to stay at home country, it is extremely important to have a job, and it does not matter in which sector they will work. Among those for whom it is important in which sector they will work, the number of students who want to work in the non - government sector is 8.7% less, those who want to work in the public sector and, respectively, by 4.9% who want to work in private companies. Among the criteria by which students will choose a job, career growth, employment by profession, and high salary were most frequently named. An analysis of the criteria from a gender point of view showed that female students are more career-oriented than male students. In addition, for females, it is more important to have a suitable job in the specialty
2020-07-20
∘ Nana Menabdishvili ∘
SELF-CARE BEHAVIOR FEATURES AMONG THE STUDENTS
Summary Self-care behavior is seen as a system of actions and relationships aimed at maintaining health throughout the full life cycle and extending life expectancy. The physical and spiritual health of its members is valuable to every society. Therefore, the study of self-care behavior is of great importance. We have studied the self-care behavior of student youth using the sociological research. For only a quarter of students, health is a core value. At the same time, the importance of health is more expressed in males than in females. Among students who named health as the value of first importance, only 33% showed constant attention to maintaining it. Among the factors of health care, the special attention of students is paid to the lifestyle. They value a healthy lifestyle 5.4 times more than a systematic medical examination. For the most students, the health care is not preventative. Female students are more consistent in following doctors’ recommendations if they
2020-07-20
SELF-CARE BEHAVIOR FEATURES AMONG THE STUDENTS
Summary Self-care behavior is seen as a system of actions and relationships aimed at maintaining health throughout the full life cycle and extending life expectancy. The physical and spiritual health of its members is valuable to every society. Therefore, the study of self-care behavior is of great importance. We have studied the self-care behavior of student youth using the sociological research. For only a quarter of students, health is a core value. At the same time, the importance of health is more expressed in males than in females. Among students who named health as the value of first importance, only 33% showed constant attention to maintaining it. Among the factors of health care, the special attention of students is paid to the lifestyle. They value a healthy lifestyle 5.4 times more than a systematic medical examination. For the most students, the health care is not preventative. Female students are more consistent in following doctors’ recommendations if they
2020-07-20
∘ Marina Muchiashvili ∘ Ketevan Liparteliani ∘
STATISTICAL ANALYSIS OF FUNDING OF SOCIAL PROGRAMS AND PROJECTS IN GEORGIA
Summary The paper presents the main programs and sub-programs implemented in the social sphere in Georgia in recent years, as well as in the medium term. Substantial structural changes in the state budget expenditures in the post-2012 period are analyzed. All social projects are reviewed in detail and an analysis of new programs and projects implemented is given. The paper presents the changes envisaged in the anti-crisis plan in the structure of the 2020 budget expenditures. The impact of these changes on the economic sustainability and economic growth of the country is assessed. Keywords: Fiscal policy, Social programs, financing of social protection programs, financing of social insurance programs, financing of health care
2020-07-20
STATISTICAL ANALYSIS OF FUNDING OF SOCIAL PROGRAMS AND PROJECTS IN GEORGIA
Summary The paper presents the main programs and sub-programs implemented in the social sphere in Georgia in recent years, as well as in the medium term. Substantial structural changes in the state budget expenditures in the post-2012 period are analyzed. All social projects are reviewed in detail and an analysis of new programs and projects implemented is given. The paper presents the changes envisaged in the anti-crisis plan in the structure of the 2020 budget expenditures. The impact of these changes on the economic sustainability and economic growth of the country is assessed. Keywords: Fiscal policy, Social programs, financing of social protection programs, financing of social insurance programs, financing of health care
2020-07-20
∘ Ketevan Archaia ∘
THE MAIN APPROACHES OF THE HEALTHCARE SPHERE TO “EFFICIENCY”, “EFFECTIVENESS” AND “RESOURCES”
Summary The article deals with the main approaches in the healthcare sphere related to “efficiency”, “effectiveness” and
2020-07-20
THE MAIN APPROACHES OF THE HEALTHCARE SPHERE TO “EFFICIENCY”, “EFFECTIVENESS” AND “RESOURCES”
Summary The article deals with the main approaches in the healthcare sphere related to “efficiency”, “effectiveness” and
2020-07-20
∘ Vano Benidze ∘
THE ROLE OF MANUFACTURING IN ECONOMIC DEVELOPMENT
Summary Throughout the history of mankind, economic growth has always been associated with progress and prosperity. However, the fast rates of economic growth around the world is a recent phenomenon, as by all estimates, economic growth rates must have been very low through most history before the 18th century (Kuznets, 1996). Starting from the 1760s, changes in agriculture, manufacturing and technology had a pronounced positive effect on the lives of many. This process, also known as the “Industrial Revolution”, first spread in Great Britain, France, Germany, United States, Spain and other European countries, later followed by Asian, African and Latin American countries in the beginning of the 19th century (Allen, 2017). The world, so far, has been through three industrial revolutions, each having different characteristics and consequences. The 1st Industrial Revolution used steam-powered engines that significantly increased labor productivity in
2020-07-20
THE ROLE OF MANUFACTURING IN ECONOMIC DEVELOPMENT
Summary Throughout the history of mankind, economic growth has always been associated with progress and prosperity. However, the fast rates of economic growth around the world is a recent phenomenon, as by all estimates, economic growth rates must have been very low through most history before the 18th century (Kuznets, 1996). Starting from the 1760s, changes in agriculture, manufacturing and technology had a pronounced positive effect on the lives of many. This process, also known as the “Industrial Revolution”, first spread in Great Britain, France, Germany, United States, Spain and other European countries, later followed by Asian, African and Latin American countries in the beginning of the 19th century (Allen, 2017). The world, so far, has been through three industrial revolutions, each having different characteristics and consequences. The 1st Industrial Revolution used steam-powered engines that significantly increased labor productivity in
2020-07-20
∘ Tamara Gvenetadze ∘
PANIC BUYING BEHAVIOR CAUSED BY THE CORONAVIRUS
Annotation. The motive behind this work is to discuss the latest global panic buying behavior of customers. Factors such as what are the reasons of panic buying? What is the cause of unusual buying behavior? What could be economic effects of panic buying will be highlighted. Panic buying is considered to be a behavior marked by a rapid growth in purchased amounts by customers. The negative outcomes of panic buying is the creation of uncontrollable demand leading to the shortage of supply thus typically causing the price increase. Key words:Panic buying, Coronavirus COVID-19 pandemic, Shortage, Demand, E-commerce. The world is currently facing a major health concern. On March 12, 2020 the World Health Organization has officially declared the outbreak of coronavirus disease COVID-19 as pandemic. The worldwide spread of the disease in rapid terms has caused a noticeable change in consumer behavior worldwide. One such shift is expressed in consumer behavior of panic
2020-07-20
PANIC BUYING BEHAVIOR CAUSED BY THE CORONAVIRUS
Annotation. The motive behind this work is to discuss the latest global panic buying behavior of customers. Factors such as what are the reasons of panic buying? What is the cause of unusual buying behavior? What could be economic effects of panic buying will be highlighted. Panic buying is considered to be a behavior marked by a rapid growth in purchased amounts by customers. The negative outcomes of panic buying is the creation of uncontrollable demand leading to the shortage of supply thus typically causing the price increase. Key words:Panic buying, Coronavirus COVID-19 pandemic, Shortage, Demand, E-commerce. The world is currently facing a major health concern. On March 12, 2020 the World Health Organization has officially declared the outbreak of coronavirus disease COVID-19 as pandemic. The worldwide spread of the disease in rapid terms has caused a noticeable change in consumer behavior worldwide. One such shift is expressed in consumer behavior of panic
2020-07-20
∘ David Goglidze ∘
THE IMPACT OF CORONAVIRUS PANDEMIC ON ELECTRONIC BUSINESS IN GEORGIA
Summary Evolution of technologies has had a huge impact on mankind. They make life easier, more comfortable and at the same time, increase the efficiency of human activities. In this matter, evolution of Internet holds one of the most important places. A while ago, making entrepreneurial and non-entrepreneurial decisions required spending too much time and energy, which was normal at that time. Yet, today it is possible to make decisions way faster, which means that speed of information transfer and speed of our lives are increased. All this made importance of creating and developing E-business in worldwide. The article describes meaning and key features of E-business and defines its area of action. Characterizes national and international fields, that mastered electronic technologies and increased productivity and efficiency. In addition to this, it describes E-business environment in Georgia. The article also contains research, where we determined the impact of coronavirus
2020-07-20
THE IMPACT OF CORONAVIRUS PANDEMIC ON ELECTRONIC BUSINESS IN GEORGIA
Summary Evolution of technologies has had a huge impact on mankind. They make life easier, more comfortable and at the same time, increase the efficiency of human activities. In this matter, evolution of Internet holds one of the most important places. A while ago, making entrepreneurial and non-entrepreneurial decisions required spending too much time and energy, which was normal at that time. Yet, today it is possible to make decisions way faster, which means that speed of information transfer and speed of our lives are increased. All this made importance of creating and developing E-business in worldwide. The article describes meaning and key features of E-business and defines its area of action. Characterizes national and international fields, that mastered electronic technologies and increased productivity and efficiency. In addition to this, it describes E-business environment in Georgia. The article also contains research, where we determined the impact of coronavirus
2020-07-20
∘ Khatuna Tabagari ∘
GENERAL ANALYSIS OF GEORGIAN EXPORT: THE CHALLENGES IN THE CONTEXT OF COVID-19
Summary The article deals with the analysis of the export of Georgia in the context of the challenges of Covid-19
2020-07-20
GENERAL ANALYSIS OF GEORGIAN EXPORT: THE CHALLENGES IN THE CONTEXT OF COVID-19
Summary The article deals with the analysis of the export of Georgia in the context of the challenges of Covid-19
2020-07-20
∘ Ilia Kozhoridze ∘
GEORGIAN INSURANCE COMPANIES’ INVESTMENT POLICY
Summary Insurance companies’ invests is not directly related to insurance, because at this time they invest temporary free assets which are insurance reserves. While investing in financial assets insurance companies should provide both, their financial stability and the closely match between cash flows of these financial assets and liabilities. In Georgia insurance companies prefer to invest in deposits and cash, where 75% of total investment revenue is generated. In developed countries the majority of insurance companies prefer investing in bonds. If we take into account on of the investment rules- diversification, it would be better and efficient if Georgian insurance companies invest some of their insurance reserves in bonds, because our legislation allows them to make invest in OECD countries’ federal and municipal bonds, no more than 50% of total insurance
2020-07-20
GEORGIAN INSURANCE COMPANIES’ INVESTMENT POLICY
Summary Insurance companies’ invests is not directly related to insurance, because at this time they invest temporary free assets which are insurance reserves. While investing in financial assets insurance companies should provide both, their financial stability and the closely match between cash flows of these financial assets and liabilities. In Georgia insurance companies prefer to invest in deposits and cash, where 75% of total investment revenue is generated. In developed countries the majority of insurance companies prefer investing in bonds. If we take into account on of the investment rules- diversification, it would be better and efficient if Georgian insurance companies invest some of their insurance reserves in bonds, because our legislation allows them to make invest in OECD countries’ federal and municipal bonds, no more than 50% of total insurance
2020-07-20
∘ Nino Lobzhanidze ∘
THE IMPACT OF CORONAVIRUS (COVID-19) ON THE WATER INDUSTRY: MAIN CHALLENGES FACING THE WORLD AND GEORGIA
Summary The article analyzes the economic consequences caused by the coronavirus. Particular attention is paid to the main problems of the water sector, both worldwide and in Georgia. The study highlights three main challenges: the problems in the field of water consumption and supply; Delayed working processes of companies providing raw materials, equipment and technologies in the water sector; Conservatism of private sector companies in the water industry. The study of the main challenges in the water industry is based on the analysis of reports of international and local organizations, statistical data, and the scientific works of the field experts, cited as the sources. According to the discussed challenges the article presents conclusions and offers recommendations for solving problems in the water industry for short-term and long-term periods. Keywords: Water Industry, Coronomic Crisis, Water Consumption and Supply, Water Risk
2020-07-20
THE IMPACT OF CORONAVIRUS (COVID-19) ON THE WATER INDUSTRY: MAIN CHALLENGES FACING THE WORLD AND GEORGIA
Summary The article analyzes the economic consequences caused by the coronavirus. Particular attention is paid to the main problems of the water sector, both worldwide and in Georgia. The study highlights three main challenges: the problems in the field of water consumption and supply; Delayed working processes of companies providing raw materials, equipment and technologies in the water sector; Conservatism of private sector companies in the water industry. The study of the main challenges in the water industry is based on the analysis of reports of international and local organizations, statistical data, and the scientific works of the field experts, cited as the sources. According to the discussed challenges the article presents conclusions and offers recommendations for solving problems in the water industry for short-term and long-term periods. Keywords: Water Industry, Coronomic Crisis, Water Consumption and Supply, Water Risk
2020-07-20
∘ Merab Lominadze ∘
ECONOMICS FACTORS PROMOTING INVESTMENT PROCESSES IN GEORGIA
Summary This article substantiates the importance of effective management of investment activities for the political and economic stabilization of Georgia, analyzes views of various scientists about the principles and paradigms of investment activity. Also, the dynamic of foreign direct investment in Georgia for 2017-2019 is explored. It is concluded that the development of the private sector is significantly limited by the lack of investment, accordingly measures to be taken by the government for the development of small and medium-sized businesses within the framework of the investment policy are proposed. The paper identifies the factors influencing the implementation of investment processes, evaluates the main determinants of investment - interest rate and sales volume. It is proved that the determinants effect on investment volume both separately, as well as complex. It has been established that an increase in the volume of output stimulates the volume of
2020-07-20
ECONOMICS FACTORS PROMOTING INVESTMENT PROCESSES IN GEORGIA
Summary This article substantiates the importance of effective management of investment activities for the political and economic stabilization of Georgia, analyzes views of various scientists about the principles and paradigms of investment activity. Also, the dynamic of foreign direct investment in Georgia for 2017-2019 is explored. It is concluded that the development of the private sector is significantly limited by the lack of investment, accordingly measures to be taken by the government for the development of small and medium-sized businesses within the framework of the investment policy are proposed. The paper identifies the factors influencing the implementation of investment processes, evaluates the main determinants of investment - interest rate and sales volume. It is proved that the determinants effect on investment volume both separately, as well as complex. It has been established that an increase in the volume of output stimulates the volume of
2020-07-20
∘ Lela Mamaladze ∘
ANALYSIS OF INTEREST GROUPS IN THE CONTEXT OF INSTITUTIONAL ECONOMICS
Summary Interest groups are a necessary precondition and an integral part of a democratic state. The high degree of civic activism plays an important role in the development of the state. The government elected by the people is accountable for receiving information from members of the public on issues that are problematic for them. Through the organizational structure of the interest group, the right tactics and resources for action, the likelihood of achieving the common goals of the community through joint efforts, the chances of which were minimized by individual forces, is greatly increased. This article focuses on the research aspects of interest groups and discusses the formation, classification, scope of activities, and tools to influence the desired outcome in the context of an institutional economy. Key words: Interest groups, lobby, Institutionalism, Institutional
2020-07-20
ANALYSIS OF INTEREST GROUPS IN THE CONTEXT OF INSTITUTIONAL ECONOMICS
Summary Interest groups are a necessary precondition and an integral part of a democratic state. The high degree of civic activism plays an important role in the development of the state. The government elected by the people is accountable for receiving information from members of the public on issues that are problematic for them. Through the organizational structure of the interest group, the right tactics and resources for action, the likelihood of achieving the common goals of the community through joint efforts, the chances of which were minimized by individual forces, is greatly increased. This article focuses on the research aspects of interest groups and discusses the formation, classification, scope of activities, and tools to influence the desired outcome in the context of an institutional economy. Key words: Interest groups, lobby, Institutionalism, Institutional
2020-07-20
∘ Nino Melitauri ∘
EU - GEORGIA TRADE LIBERALIZATION EFFECTS
Summary This paper examines the issue of quantitative assessment of the effects of trade liberalization between Georgia and the European Union. Besides, trade barriers are analyzed and the importance of their impact is assessed in order to identify what additional activities are necessary to fully exploit the potential benefits of trade reform under DCFTA. Keywords: trade liberalization, computable general equilibrium, index of trade
2020-07-20
EU - GEORGIA TRADE LIBERALIZATION EFFECTS
Summary This paper examines the issue of quantitative assessment of the effects of trade liberalization between Georgia and the European Union. Besides, trade barriers are analyzed and the importance of their impact is assessed in order to identify what additional activities are necessary to fully exploit the potential benefits of trade reform under DCFTA. Keywords: trade liberalization, computable general equilibrium, index of trade
2020-07-20
∘ Zurab Mtchedlishvili ∘
IMPACT OF THE CORONAVIRUS PANDEMIC ON THE GEORGIAN TOURISM SECTOR
Summary The 2020 Coronavirus pandemic has a very large negative impact on the global economy. The International Monetary Fund estimates that the crisis caused by the pandemic will hurt the world economy more than the 2008-2009 global financial crisis. The tourism sector is particularly affected, as are Countries with a large share of tourism in GDP, including Georgia. The paper discusses the impact of the Coronavirus pandemic on the Georgian tourism sector. Due to the pandemic, Georgia has lost a considerable amount of revenue from international travel - losses for I-II quarters of 2020 amount to about 1.1-1.2 billion USD. It is very important that tourism plays a significant role in the Georgian economy - 8% of GDP, which is about 3 times higher than the world average, which gives us reason to think that the Georgian economy is facing a very big crisis. 150000 people were employed in Georgian tourism and related services - about 10% of employees. Their income depended on
2020-07-20
IMPACT OF THE CORONAVIRUS PANDEMIC ON THE GEORGIAN TOURISM SECTOR
Summary The 2020 Coronavirus pandemic has a very large negative impact on the global economy. The International Monetary Fund estimates that the crisis caused by the pandemic will hurt the world economy more than the 2008-2009 global financial crisis. The tourism sector is particularly affected, as are Countries with a large share of tourism in GDP, including Georgia. The paper discusses the impact of the Coronavirus pandemic on the Georgian tourism sector. Due to the pandemic, Georgia has lost a considerable amount of revenue from international travel - losses for I-II quarters of 2020 amount to about 1.1-1.2 billion USD. It is very important that tourism plays a significant role in the Georgian economy - 8% of GDP, which is about 3 times higher than the world average, which gives us reason to think that the Georgian economy is facing a very big crisis. 150000 people were employed in Georgian tourism and related services - about 10% of employees. Their income depended on
2020-07-20
∘ Nino Zhorzhikashvili ∘
INCOME INEQUALITY AND FISCAL POLICY INFLUENCE ON INCLUSIVE GROWTH
Summary In the last few years, the model of inclusive growth and development is a very important issue for any country. Inclusive development policy should envisage participation of the poor and low income people, who should be benefited mostly. Inequality and taxation of income is directly related to inclusive economic growth and development. Revenue Inequality In the last few decades, almost every country in the world is characterized by a tendency of growth, which is the cause of poverty and social tension. Effective tax policy can mitigate the inequalities between the layers of society, which will eventually guarantee sustainable and inclusive economic growth. In order to achieve this goal, it is necessary to be existed effective regulatory institutions and maximal involvement of each member of the society in the inclusive growth and development. Keywords: inclusive economic growth, inequality in income, fiscal policy, indicators of inclusive economic
2020-07-20
INCOME INEQUALITY AND FISCAL POLICY INFLUENCE ON INCLUSIVE GROWTH
Summary In the last few years, the model of inclusive growth and development is a very important issue for any country. Inclusive development policy should envisage participation of the poor and low income people, who should be benefited mostly. Inequality and taxation of income is directly related to inclusive economic growth and development. Revenue Inequality In the last few decades, almost every country in the world is characterized by a tendency of growth, which is the cause of poverty and social tension. Effective tax policy can mitigate the inequalities between the layers of society, which will eventually guarantee sustainable and inclusive economic growth. In order to achieve this goal, it is necessary to be existed effective regulatory institutions and maximal involvement of each member of the society in the inclusive growth and development. Keywords: inclusive economic growth, inequality in income, fiscal policy, indicators of inclusive economic
2020-07-20
∘ Nino Sardlishvili ∘
THE CAREER DEVELOPMENT IN PUBLIC SERVICE (ANALYSIS OF QUANTITATIVE RESEARCH)
Summary The current low about public service was signed in 2015 and fully operational since 2017. The latest wave of public service reform focused on the career and professional development of public servants. As part of the research on the career development process, was held public servant’s quantitative research, in period of January-April in 2020, These research aim was to clarify the attitude of public servants themselves. In the context of the pandemic in the country, the research process was no less interesting than the results of the study. To ensure the safety of the respondents and the interviewer, the research was conducted remotely, via electronic questionnaires. The results of the research showed what attitude the public servants themselves have towards the ongoing processes in the public service. Revealed the position of the public servants has about the role of public service human resource management in their career development process. It also
2020-07-20
THE CAREER DEVELOPMENT IN PUBLIC SERVICE (ANALYSIS OF QUANTITATIVE RESEARCH)
Summary The current low about public service was signed in 2015 and fully operational since 2017. The latest wave of public service reform focused on the career and professional development of public servants. As part of the research on the career development process, was held public servant’s quantitative research, in period of January-April in 2020, These research aim was to clarify the attitude of public servants themselves. In the context of the pandemic in the country, the research process was no less interesting than the results of the study. To ensure the safety of the respondents and the interviewer, the research was conducted remotely, via electronic questionnaires. The results of the research showed what attitude the public servants themselves have towards the ongoing processes in the public service. Revealed the position of the public servants has about the role of public service human resource management in their career development process. It also
2020-07-20
∘ Nino Sardlishvili ∘ Nino Sachaleli ∘
THE PROBLEM OF UNEMPLOYMENT AND THE ROLE OF SUSTAINABLE ECONOMIC DEVELOPMENT IN SOLVING IT
Summary In the article, there are discussed the problems of unemployment in Georgia and the role of sustainable economic development in it. The study provides statistical data, sustainable development goals and state policy analysis. Eliminating the employment problem is a guarantee of the country's stability and economic progress. After solving the problem of unemployment in the country it will be possible to achieve sustainable development goals, which in turn is the way to develop the country in the right direction which is very important for Georgia. Georgian government considers as a priority to solve the problems that primarily hinder the achievement of prosperity, but in 2020, as we see, this problem is still relevant and more serious than it was, due to the current situation in the world, it is much more acute and topical. It can be clearly stated that only by implementing social programs and increasing aid it is impossible to eradicate poverty in the country, to
2020-07-20
THE PROBLEM OF UNEMPLOYMENT AND THE ROLE OF SUSTAINABLE ECONOMIC DEVELOPMENT IN SOLVING IT
Summary In the article, there are discussed the problems of unemployment in Georgia and the role of sustainable economic development in it. The study provides statistical data, sustainable development goals and state policy analysis. Eliminating the employment problem is a guarantee of the country's stability and economic progress. After solving the problem of unemployment in the country it will be possible to achieve sustainable development goals, which in turn is the way to develop the country in the right direction which is very important for Georgia. Georgian government considers as a priority to solve the problems that primarily hinder the achievement of prosperity, but in 2020, as we see, this problem is still relevant and more serious than it was, due to the current situation in the world, it is much more acute and topical. It can be clearly stated that only by implementing social programs and increasing aid it is impossible to eradicate poverty in the country, to
2020-07-20
∘ Nino Sachaleli ∘
THE ROLE OF PUBLIC PRIVATE PARTNERSHIP IN BUSINESS DEVELOPMENT
Annotation. Developed countries agree that the development of public-private partnerships is one of the new ways for countries to achieve economic growth,, business development, infrastructure development, and better public services. The results of successful PPP projects around the world have also put developing countries in need of introducing the PPP model. Georgia is one of these countries, but without the necessary institutional, political and legal environment for such a partnership in the country, it will be quite difficult to successfully implement successful PPP projects. Keywords: PPP, government and PPP, business and PPP The Public-Private Partnership Model (PPP) is a state-to-business partnership aimed at implementing important political and social projects at the national, regional and local levels. With the Public-Private Partnership model, which involves joint projects developed by business and the state, many areas have been developed around the world in
2020-07-20
THE ROLE OF PUBLIC PRIVATE PARTNERSHIP IN BUSINESS DEVELOPMENT
Annotation. Developed countries agree that the development of public-private partnerships is one of the new ways for countries to achieve economic growth,, business development, infrastructure development, and better public services. The results of successful PPP projects around the world have also put developing countries in need of introducing the PPP model. Georgia is one of these countries, but without the necessary institutional, political and legal environment for such a partnership in the country, it will be quite difficult to successfully implement successful PPP projects. Keywords: PPP, government and PPP, business and PPP The Public-Private Partnership Model (PPP) is a state-to-business partnership aimed at implementing important political and social projects at the national, regional and local levels. With the Public-Private Partnership model, which involves joint projects developed by business and the state, many areas have been developed around the world in
2020-07-20
∘ Iamze Surmanidze ∘
STATISTICAL ANALYSIS OF NUMBER AND SEX-AGE STRUCTURE OF POPULATION OF ADJARA AUTONOMOUS REPUBLIC
Summary The article with the main statistical indicators characteristic of number and age-sex structure of the population of the Autonomous Republic of Adjara. The research process reveals the trends of population change and age-sex structure changes within a long-term period and analyzes the peculiarities of its dynamic development according to the total area of Adjara as well as its self-governing units. The calculated indicators are compared with similar indicators of other administrative regions of Georgia and interesting unequal situations are revealed. Urbanization trends have also been identified and their causes cited. The study of demographic processes is always relevant and does not lose its importance even today, as the socio-economic level of life of the population depends a lot on the development of demographic processes. Although a lot of research has been done to study the demographic environment in Georgia, the demographic situation in certain regions is
2020-07-20
STATISTICAL ANALYSIS OF NUMBER AND SEX-AGE STRUCTURE OF POPULATION OF ADJARA AUTONOMOUS REPUBLIC
Summary The article with the main statistical indicators characteristic of number and age-sex structure of the population of the Autonomous Republic of Adjara. The research process reveals the trends of population change and age-sex structure changes within a long-term period and analyzes the peculiarities of its dynamic development according to the total area of Adjara as well as its self-governing units. The calculated indicators are compared with similar indicators of other administrative regions of Georgia and interesting unequal situations are revealed. Urbanization trends have also been identified and their causes cited. The study of demographic processes is always relevant and does not lose its importance even today, as the socio-economic level of life of the population depends a lot on the development of demographic processes. Although a lot of research has been done to study the demographic environment in Georgia, the demographic situation in certain regions is
2020-07-20
∘ Nino Talikadze ∘
MEN STILL EARN MORE THAN WOMEN? MYTH OR REALITY?
Summary Gender inequality is not new to the world. It really exists and is faced by all women in every country in the world. The World Economic Forum predicts another, 99.5 years is needed to eliminate existing economic inequality between women and men. It has been argued that one of the indicators of gender inequality is the gap between wages. This article discusses the trends of labor market regarding the gender differences in Georgia, also the article discusses world experience and etc. According to the latest data, the average monthly nominal salary of a man is 458 GEL more than the average salary of a woman, which is about 1.6 times higher. However, the difference between the salaries of men and women is reduced by the ratio. If we assume that this trend will continue, then the gap between women's and men's wages should be equal to zero after about 28 years. The Gini Index, calculated to determine the magnitude of the inequality between women's and men's wages,
2020-07-20
MEN STILL EARN MORE THAN WOMEN? MYTH OR REALITY?
Summary Gender inequality is not new to the world. It really exists and is faced by all women in every country in the world. The World Economic Forum predicts another, 99.5 years is needed to eliminate existing economic inequality between women and men. It has been argued that one of the indicators of gender inequality is the gap between wages. This article discusses the trends of labor market regarding the gender differences in Georgia, also the article discusses world experience and etc. According to the latest data, the average monthly nominal salary of a man is 458 GEL more than the average salary of a woman, which is about 1.6 times higher. However, the difference between the salaries of men and women is reduced by the ratio. If we assume that this trend will continue, then the gap between women's and men's wages should be equal to zero after about 28 years. The Gini Index, calculated to determine the magnitude of the inequality between women's and men's wages,
2020-07-20
∘ Shota KARALASHVILI ∘
THE ROLE OF THE NATIONAL BANKS OF ESTONIA AND GEORGIA IN THE MANDATORY FUNDED PENSION SCHEME
Summary Pension Reform is a most important part of Development. In the European post soviet countries, the Pension Systems are based on the three pillar schemes. Unfortunately, until 2018, the Pension System of Georgia included only one pillar scheme. In 2018, the Government of Georgia initiated and implemented Pension Reform. The Mandatory Funded Pension Scheme, which was added in the Pension System of Georgia, is connected to the European models. But, there are some differences between, for example Estonian model and Georgian model. Between The Estonian funded pension act and the Georgian funded pension act are some fundamental differences. According to the above mentioned, the one of difference between Estonian and Georgian pension system is the role of the National Banks of Estonia and of Georgia in the mandatory pension scheme. Keywords:National Bank, Financial Inspection, Accountability, Control, Mandatory Funded Pension Scheme.
2020-07-20
THE ROLE OF THE NATIONAL BANKS OF ESTONIA AND GEORGIA IN THE MANDATORY FUNDED PENSION SCHEME
Summary Pension Reform is a most important part of Development. In the European post soviet countries, the Pension Systems are based on the three pillar schemes. Unfortunately, until 2018, the Pension System of Georgia included only one pillar scheme. In 2018, the Government of Georgia initiated and implemented Pension Reform. The Mandatory Funded Pension Scheme, which was added in the Pension System of Georgia, is connected to the European models. But, there are some differences between, for example Estonian model and Georgian model. Between The Estonian funded pension act and the Georgian funded pension act are some fundamental differences. According to the above mentioned, the one of difference between Estonian and Georgian pension system is the role of the National Banks of Estonia and of Georgia in the mandatory pension scheme. Keywords:National Bank, Financial Inspection, Accountability, Control, Mandatory Funded Pension Scheme.
2020-07-20
∘ Mariam Khurtsidze, ∘
OVERCOMING POVERTY AND REDUCING UNEMPLOYMENT AS ONE OF THE MAIN CHALLENGES OF GEORGIA
Summary The work reviews one of the main challenges of Georgia – overcoming poverty and unemployment, which represents the piercing problem for all over the world during the pandemic period. On the base of given material, has been concluded and argumented the ways of reducing unemployment and the means to improve the growth of country’s welfare. The growth of employment, full employment, overcoming poverty and welfare, still remains the main challenges of many countries. Georgia feels the same – reducing unemployment and overcoming poverty represents the meaningful socio-economic problems. According to the assessment of the international organizations – International Monetary Fund, World Bank and International Labour Organization – the effects of the COVID-19 will be long-termed on the global labour world and it will cause high levels of unemployment and extreme poverty. From the socio-economic point of view, four main factors are figured which
2020-07-20
OVERCOMING POVERTY AND REDUCING UNEMPLOYMENT AS ONE OF THE MAIN CHALLENGES OF GEORGIA
Summary The work reviews one of the main challenges of Georgia – overcoming poverty and unemployment, which represents the piercing problem for all over the world during the pandemic period. On the base of given material, has been concluded and argumented the ways of reducing unemployment and the means to improve the growth of country’s welfare. The growth of employment, full employment, overcoming poverty and welfare, still remains the main challenges of many countries. Georgia feels the same – reducing unemployment and overcoming poverty represents the meaningful socio-economic problems. According to the assessment of the international organizations – International Monetary Fund, World Bank and International Labour Organization – the effects of the COVID-19 will be long-termed on the global labour world and it will cause high levels of unemployment and extreme poverty. From the socio-economic point of view, four main factors are figured which
2020-07-20