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 Internet conferences
∘ Ramaz Abesadze ∘
The living standards of population and Georgia
Annotation. In the article are reffered the terms related to the standards of living, the essence and meaning of economic development, is considerd an idea about some terms of living standards. Also are examined the existing level of living and is intentioned the way of it’s upgrading. The key words: "the standards of life", " the quality of life", "a middle class" " an average social group ". Introduction The living standards is a key indicator of human well-being and economic development. The higher the standards of living are so higher is the level of economic development and human well-being. Herewith the economic growth played a decisive role in raising the standards of living in the past, but nowadays the progressive qualitative changes in economy ( like usage of the new technologies, technics, human capital and institutions, new types of products and goods,
2019-11-21
The living standards of population and Georgia
Annotation. In the article are reffered the terms related to the standards of living, the essence and meaning of economic development, is considerd an idea about some terms of living standards. Also are examined the existing level of living and is intentioned the way of it’s upgrading. The key words: "the standards of life", " the quality of life", "a middle class" " an average social group ". Introduction The living standards is a key indicator of human well-being and economic development. The higher the standards of living are so higher is the level of economic development and human well-being. Herewith the economic growth played a decisive role in raising the standards of living in the past, but nowadays the progressive qualitative changes in economy ( like usage of the new technologies, technics, human capital and institutions, new types of products and goods,
2019-11-21
∘ Vladimer Papava ∘ Tamar Tapladze ∘
ON THE SOME CHALLENGES OF ECONOMIC POLICY MAKING AND THE EXPERIENCE OF POST-COMMUNIST GEORGIA
Summary The article offers the typology of a non-economic policy. The experience of post-Communist Georgia illustrates a number of examples when the governments implemented non-economic policies which quite negatively affected the economic development of the country. The main challenge is to approximate the economic policy to economics. Keywords: economic policy, economics, economic reforms,
2019-12-21
ON THE SOME CHALLENGES OF ECONOMIC POLICY MAKING AND THE EXPERIENCE OF POST-COMMUNIST GEORGIA
Summary The article offers the typology of a non-economic policy. The experience of post-Communist Georgia illustrates a number of examples when the governments implemented non-economic policies which quite negatively affected the economic development of the country. The main challenge is to approximate the economic policy to economics. Keywords: economic policy, economics, economic reforms,
2019-12-21
∘ Alfred Kuratashvili ∘
SCIENTIFIC CREATIVITY CREATING AN UNPAID VALUE – AS PROOF OF ERROR OF SURPLUS VALUE THEORY OF KARL MARX
Summary During the life and work of Karl Marx, as well as after him, many tried to criticize Karl Marx's theory of surplus value, according to which unpaid – surplus – value, according to Karl Marx himself, is created by an employee directly in the production sphere (?!). At the same time, despite fierce criticism of the Theory of Surplus Value of Karl Marx, firstly, no one could before me, prove and scientifically substantiate the fallacy of the Theory of Surplus Value of Karl Marx, and secondly, again no one could create and propose a revolutionary new scientific theory that would be an alternative to Karl Marx’s theory of surplus value. This scientific work proposes the Theory of Human Intellectual Capital I created by me, as the Theory of Scientific Creativity that creates unpaid - surplus - value. It is the Theory of Scientific Creativity that creates unpaid – surplus – value that is the revolutionary alternative to the Theory of Surplus Value by
2019-11-21
SCIENTIFIC CREATIVITY CREATING AN UNPAID VALUE – AS PROOF OF ERROR OF SURPLUS VALUE THEORY OF KARL MARX
Summary During the life and work of Karl Marx, as well as after him, many tried to criticize Karl Marx's theory of surplus value, according to which unpaid – surplus – value, according to Karl Marx himself, is created by an employee directly in the production sphere (?!). At the same time, despite fierce criticism of the Theory of Surplus Value of Karl Marx, firstly, no one could before me, prove and scientifically substantiate the fallacy of the Theory of Surplus Value of Karl Marx, and secondly, again no one could create and propose a revolutionary new scientific theory that would be an alternative to Karl Marx’s theory of surplus value. This scientific work proposes the Theory of Human Intellectual Capital I created by me, as the Theory of Scientific Creativity that creates unpaid - surplus - value. It is the Theory of Scientific Creativity that creates unpaid – surplus – value that is the revolutionary alternative to the Theory of Surplus Value by
2019-11-21
∘ Vakhtang Burduli ∘
ACCELERATED INDUSTRIAL RESTRUCTURING OF THE ECONOMY AS A MEANS OF OVERCOMING THE POVERTY IN THE COUNTRY
Summary The article discusses the ways of developing the sectoral structure of the economy from the perspective of S. Glazyev’s concept on the role of technological structures in the development of the economy, and issues of sectoral restructuring are considered taking into account the orientation towards increasing the welfare of the population and reducing poverty. The internal and external economic factors affecting the formation of a modern technological structure are considered, and the development of economic sectors is also considered from the point of view of increasing the level of employment and, thereby, reducing poverty. In Georgia, as in any other country, the problem of overcoming poverty, in which a certain part of the population lives, is a serious economic task. If we evaluate the level of well-being of Georgia with the level of well-being of other countries, we find that Georgia, in this sense, is not among the leading countries. Hence, it is obvious
2019-12-21
ACCELERATED INDUSTRIAL RESTRUCTURING OF THE ECONOMY AS A MEANS OF OVERCOMING THE POVERTY IN THE COUNTRY
Summary The article discusses the ways of developing the sectoral structure of the economy from the perspective of S. Glazyev’s concept on the role of technological structures in the development of the economy, and issues of sectoral restructuring are considered taking into account the orientation towards increasing the welfare of the population and reducing poverty. The internal and external economic factors affecting the formation of a modern technological structure are considered, and the development of economic sectors is also considered from the point of view of increasing the level of employment and, thereby, reducing poverty. In Georgia, as in any other country, the problem of overcoming poverty, in which a certain part of the population lives, is a serious economic task. If we evaluate the level of well-being of Georgia with the level of well-being of other countries, we find that Georgia, in this sense, is not among the leading countries. Hence, it is obvious
2019-12-21
∘ Fidan Ismayilova ∘
FEATURES OF MONETARY POLICY POST-COMMUNIST COUNTRIES IN REGIONAL UNIONS (CASE OF AZERBAIJAN-GEORGIA)
Summary This scientific work reveals some features of the monetary policy of post-communist countries in various international integration structures (on the example of the EU and the EAEU). The questions of the influence of the degree of state participation in these international integration structures on a number of macroeconomic indicators in a global crisis are considered. A comparative analysis of these indicators for Azerbaijan and Georgia with the corresponding indicators for the EU and EAEU countries has been carried
2019-12-21
FEATURES OF MONETARY POLICY POST-COMMUNIST COUNTRIES IN REGIONAL UNIONS (CASE OF AZERBAIJAN-GEORGIA)
Summary This scientific work reveals some features of the monetary policy of post-communist countries in various international integration structures (on the example of the EU and the EAEU). The questions of the influence of the degree of state participation in these international integration structures on a number of macroeconomic indicators in a global crisis are considered. A comparative analysis of these indicators for Azerbaijan and Georgia with the corresponding indicators for the EU and EAEU countries has been carried
2019-12-21
∘ George Berulava ∘ Irma Dikhaminjia ∘
MIGRATION AND LABOR SUPPLY IN GEORGIA: A MICROECONOMIC VIEW
Summary This paper explores the existing interrelationships between migration and labor market outcomes of left-behind household members in Georgia. Based on the Georgian Household Survey, we tried to answer the questions that remained relatively unexplored in economic literature. First, we employed IV-technique to establish causal link between migration and labor market outputs in Georgia. The study results suggest the international migration is an important predictor of labor participation choices of non-migrants and that the effects of migration on labor market participation/inactivity decisions of left-behind family members differ substantially by gender of left-behinds and settlement type Second, we explored alternative reasons of inactivity among left-behind members in migrant-sending households. Applying multinomial Probit model, we ascertained that disincentive effect of migration on labor participation of left-behind household members, is less likely to occur in
2019-11-21
MIGRATION AND LABOR SUPPLY IN GEORGIA: A MICROECONOMIC VIEW
Summary This paper explores the existing interrelationships between migration and labor market outcomes of left-behind household members in Georgia. Based on the Georgian Household Survey, we tried to answer the questions that remained relatively unexplored in economic literature. First, we employed IV-technique to establish causal link between migration and labor market outputs in Georgia. The study results suggest the international migration is an important predictor of labor participation choices of non-migrants and that the effects of migration on labor market participation/inactivity decisions of left-behind family members differ substantially by gender of left-behinds and settlement type Second, we explored alternative reasons of inactivity among left-behind members in migrant-sending households. Applying multinomial Probit model, we ascertained that disincentive effect of migration on labor participation of left-behind household members, is less likely to occur in
2019-11-21
∘ Revaz Javakhishvili ∘
FEATURES OF THE JAPANESE MODEL OF HUMAN CAPITAL MANAGEMENT
Summary The Japanese model of human capital management is based on the peculiarities of the country's historical-cultural development and a specific national mentality, which essentially defined the creation of a unique Japanese system of management, which is still one of the most advanced systems in the world. The paper analyzes the principles, advantages and features of human capital management. He pays particular attention to `lifetime 'sourcing and` precedence ~ systems, labor collectives fiduciary relationship to the creation and strengthening of the investment growth of the number, which is targeted for workforce attraction, education and qualification level, health and performance enhancement, m shakta material and moral incentives
2019-11-21
FEATURES OF THE JAPANESE MODEL OF HUMAN CAPITAL MANAGEMENT
Summary The Japanese model of human capital management is based on the peculiarities of the country's historical-cultural development and a specific national mentality, which essentially defined the creation of a unique Japanese system of management, which is still one of the most advanced systems in the world. The paper analyzes the principles, advantages and features of human capital management. He pays particular attention to `lifetime 'sourcing and` precedence ~ systems, labor collectives fiduciary relationship to the creation and strengthening of the investment growth of the number, which is targeted for workforce attraction, education and qualification level, health and performance enhancement, m shakta material and moral incentives
2019-11-21
∘ Revaz Lortkipanidze ∘
CHALLENGES OF POST-COMMUNIST GEORGIAS IN THE EU INTEGRATION AND GENERAL THEORETICAL UNDERSTANDING OF MECHANISMS FOR THEIR SOLUTION
Summary Georgia's economic-conflicting legacy has proved to be the most difficult among the post-Soviet countries, and as we all remember, in 1994, the country was ranked last not only in the region but in the world as a whole. EU countries are in the forefront for the world culture and economy in this regard and historically it was considered always so, especially after initiated in the UK the Industrial Revolution; however, I think, all Europeans agree with me, that we cannot be the real fans of Europe, if we do not see and understand through the strategic studies and planning of economic-demographic problems, which are the hardest burden for the EU economy and the future of this
2019-11-21
CHALLENGES OF POST-COMMUNIST GEORGIAS IN THE EU INTEGRATION AND GENERAL THEORETICAL UNDERSTANDING OF MECHANISMS FOR THEIR SOLUTION
Summary Georgia's economic-conflicting legacy has proved to be the most difficult among the post-Soviet countries, and as we all remember, in 1994, the country was ranked last not only in the region but in the world as a whole. EU countries are in the forefront for the world culture and economy in this regard and historically it was considered always so, especially after initiated in the UK the Industrial Revolution; however, I think, all Europeans agree with me, that we cannot be the real fans of Europe, if we do not see and understand through the strategic studies and planning of economic-demographic problems, which are the hardest burden for the EU economy and the future of this
2019-11-21
∘ Murman Kvaratskhelia ∘
ON THE ISSUES OF MARKET ECONOMY IN GEORGIA
Summary World practice has proven that the transition to a market economy is characterized by many challenges. A socially oriented market economy has internal contradictions. It is, first and foremost, a contradiction between the economic objective of a market economy, which is expressed in the pursuit of profit and its social orientation, which can only be achieved by the proper legal and organizational provision of the
2019-11-21
ON THE ISSUES OF MARKET ECONOMY IN GEORGIA
Summary World practice has proven that the transition to a market economy is characterized by many challenges. A socially oriented market economy has internal contradictions. It is, first and foremost, a contradiction between the economic objective of a market economy, which is expressed in the pursuit of profit and its social orientation, which can only be achieved by the proper legal and organizational provision of the
2019-11-21
∘ Mamuka Khuskivadze ∘
FINANCIAL INSTRUMENTS FOR MACROECONOMIC ENVIRONMENTAL REGULATION
Summary The article is analyzed the essence of macroeconomic regulation of the environment protection, necessity and common methods. In the process of such regulation is discussed the foreign experience to using the financial and economic instruments. In Georgia is evaluated the modern state of macroeconomic regulation of environment protection and suggested the recommendations on the feasibility of using financial
2019-11-21
FINANCIAL INSTRUMENTS FOR MACROECONOMIC ENVIRONMENTAL REGULATION
Summary The article is analyzed the essence of macroeconomic regulation of the environment protection, necessity and common methods. In the process of such regulation is discussed the foreign experience to using the financial and economic instruments. In Georgia is evaluated the modern state of macroeconomic regulation of environment protection and suggested the recommendations on the feasibility of using financial
2019-11-21
∘ Tea Lazarashvili ∘
INSTITUTIONAL FOUNDATIONS OF KNOWLEDGE ECONOMY FORMATION AND ITS MEASUREMENT METHODS
Summary Institutions play an important role in the interplay of subjects in the knowledge economy, as in any other economic system. They help to build a sustainable structure of interaction and impact the economic process through the exchange and production costs. For the development of the knowledge economy, it is important to create incentives that encourage the activation of innovation activities, increase the commercial attractiveness of innovative projects and more. Although there are various methodologies for determining the level of innovation development of a country in world practice, the problem of measuring it is an important issue in the knowledge economy. Undoubtedly, in a knowledge-based economy, countries that have a promising scientific background and have managed to create relatively effective institutional conditions for innovative activities will gain advantage on the world market. Innovative development institutions are state policy instruments that
2019-11-21
INSTITUTIONAL FOUNDATIONS OF KNOWLEDGE ECONOMY FORMATION AND ITS MEASUREMENT METHODS
Summary Institutions play an important role in the interplay of subjects in the knowledge economy, as in any other economic system. They help to build a sustainable structure of interaction and impact the economic process through the exchange and production costs. For the development of the knowledge economy, it is important to create incentives that encourage the activation of innovation activities, increase the commercial attractiveness of innovative projects and more. Although there are various methodologies for determining the level of innovation development of a country in world practice, the problem of measuring it is an important issue in the knowledge economy. Undoubtedly, in a knowledge-based economy, countries that have a promising scientific background and have managed to create relatively effective institutional conditions for innovative activities will gain advantage on the world market. Innovative development institutions are state policy instruments that
2019-11-21
∘ Lina Datunashvili ∘
SOME ASPECTS OF THE CURRENT STATE OF AGRICULTURE IN AZERBAIJAN
Summary The article examines some of the successes the country has achieved in the economy of the Republic of Azerbaijan over the past 15 years, including agriculture. The focus of the President's and the Government's attention is on the agrarian sector and its objectives (formation of a modern agro-industrial complex, where new technologies will be used with increased export opportunities, intensive sector development, specialization by districts, insurance fund, agro-parks and large farms. The creation of national farms, etc.), some of which have been implemented and partly implemented in practice will further contribute to the development of the sector. Keywords: agriculture, “precise” agriculture, agro insurance, investments,
2019-11-21
SOME ASPECTS OF THE CURRENT STATE OF AGRICULTURE IN AZERBAIJAN
Summary The article examines some of the successes the country has achieved in the economy of the Republic of Azerbaijan over the past 15 years, including agriculture. The focus of the President's and the Government's attention is on the agrarian sector and its objectives (formation of a modern agro-industrial complex, where new technologies will be used with increased export opportunities, intensive sector development, specialization by districts, insurance fund, agro-parks and large farms. The creation of national farms, etc.), some of which have been implemented and partly implemented in practice will further contribute to the development of the sector. Keywords: agriculture, “precise” agriculture, agro insurance, investments,
2019-11-21
∘ Marina Muchiashvili ∘ Merab Khmaladze ∘ Nino Abesadze ∘
STATISTICAL ASSESSMENT OF STUDENT’S MIGRATION MOOD
Summary Statistical assessment of a student's migratory mood can only be done in the context of relevant information provision. In the framework of the targeted research project “Student’s Demographic Mood in Georgia”, the survey was conducted to collect information on the students' migration attitudes and their statistical analysis. On the basis of the collected information and its statistical analysis the assess of the students' emigration attitudes was made and identified the key factors causing student emigration in Georgia. Key words: Student, emigration mood of students, main factors of emigration, statistical
2019-11-21
STATISTICAL ASSESSMENT OF STUDENT’S MIGRATION MOOD
Summary Statistical assessment of a student's migratory mood can only be done in the context of relevant information provision. In the framework of the targeted research project “Student’s Demographic Mood in Georgia”, the survey was conducted to collect information on the students' migration attitudes and their statistical analysis. On the basis of the collected information and its statistical analysis the assess of the students' emigration attitudes was made and identified the key factors causing student emigration in Georgia. Key words: Student, emigration mood of students, main factors of emigration, statistical
2019-11-21
∘ Malkhaz Chikobava ∘
90TH ANNIVERSARY OF THE GREAT DEPRESSION OF 1929-33
Summary The paper analyzes the dramatic events of the 30s of the last century that went down in history in the name of the Great Depression. Almost a century has passed, and debates are still ongoing about the causes of the crisis. The point of view is diverse. Some of them complement each other, but some points of view are completely contradictory. One group of researchers and experts argues that the crisis of the 30s could have been avoided. Others believe that the crisis was inevitable, it was the result of historical, economic, psychological laws, etc. They believe that such crises are not only possible, but also inevitable. There is another point of view. It seems that the crisis of the 30s was the result of the mistakes of the "monetary authorities." In this sense, the impression is that the Fed has mismanaged the years preceding the stock market panic and the first days of the panic itself. In particular, the classics of monetarism, Milton Friedman and Anna Schwartz,
2019-11-21
90TH ANNIVERSARY OF THE GREAT DEPRESSION OF 1929-33
Summary The paper analyzes the dramatic events of the 30s of the last century that went down in history in the name of the Great Depression. Almost a century has passed, and debates are still ongoing about the causes of the crisis. The point of view is diverse. Some of them complement each other, but some points of view are completely contradictory. One group of researchers and experts argues that the crisis of the 30s could have been avoided. Others believe that the crisis was inevitable, it was the result of historical, economic, psychological laws, etc. They believe that such crises are not only possible, but also inevitable. There is another point of view. It seems that the crisis of the 30s was the result of the mistakes of the "monetary authorities." In this sense, the impression is that the Fed has mismanaged the years preceding the stock market panic and the first days of the panic itself. In particular, the classics of monetarism, Milton Friedman and Anna Schwartz,
2019-11-21
∘ Lia Totladze ∘ Mamuka Khuskivadze ∘ Tamar Tapladze ∘
MODELING OF IMPACT OF HUMAN CAPITAL ON ECONOMIC GROWTH
Annotation. Strategies of many countries are focused on two area of growth: sustainable and inclusive that couldn’t be achieved without major contribution of human capital. It clear that these goals could be realized without a good education and training system, a large diffusion of knowledge in manufacturing services, a creative industries and a great effort to create a research-intensive economy. The contribution of human capital to economic growth has been accepted as by theoretical models and as by empirical studies. This study aims at providing a theoretical concept of human capital and its impact on economic growth. Another focus is overview of models describe relationship “Human capital – Economic growth”. * * * The role of human capital on economic growth has received much scientists attention. There are many study in economic literature that show the channels through which human capital accumulation and education may lead to economic
2019-11-21
MODELING OF IMPACT OF HUMAN CAPITAL ON ECONOMIC GROWTH
Annotation. Strategies of many countries are focused on two area of growth: sustainable and inclusive that couldn’t be achieved without major contribution of human capital. It clear that these goals could be realized without a good education and training system, a large diffusion of knowledge in manufacturing services, a creative industries and a great effort to create a research-intensive economy. The contribution of human capital to economic growth has been accepted as by theoretical models and as by empirical studies. This study aims at providing a theoretical concept of human capital and its impact on economic growth. Another focus is overview of models describe relationship “Human capital – Economic growth”. * * * The role of human capital on economic growth has received much scientists attention. There are many study in economic literature that show the channels through which human capital accumulation and education may lead to economic
2019-11-21
∘ Vugar Bahram Kerimli ∘
MODERN ECONOMIC ASPECTS OF ECOLOGICAL PROBLEMS
Summary From the economic point of view, the article discusses the need for scientific research, assessment of objective calculations of the harm caused to living nature, human health, his labor activity and labor productivity. The use of economic tasks to optimize the interaction between nature and society, to prevent environmental damage from natural resources, and to eliminate negative environmental impacts is an urgent task. This issue requires balanced development of the economy, its environmentalization and efficient management as a complex and multifaceted problem, both internal and external. The activity of a person is related to the environment surrounding him. The use of economic tasks to optimize the interaction between nature and society, to prevent environmental damage from natural resources, and to eliminate negative environmental impacts is an urgent task. This issue requires balanced development of the economy, its environmentalization and efficient management
2019-12-21
MODERN ECONOMIC ASPECTS OF ECOLOGICAL PROBLEMS
Summary From the economic point of view, the article discusses the need for scientific research, assessment of objective calculations of the harm caused to living nature, human health, his labor activity and labor productivity. The use of economic tasks to optimize the interaction between nature and society, to prevent environmental damage from natural resources, and to eliminate negative environmental impacts is an urgent task. This issue requires balanced development of the economy, its environmentalization and efficient management as a complex and multifaceted problem, both internal and external. The activity of a person is related to the environment surrounding him. The use of economic tasks to optimize the interaction between nature and society, to prevent environmental damage from natural resources, and to eliminate negative environmental impacts is an urgent task. This issue requires balanced development of the economy, its environmentalization and efficient management
2019-12-21
∘ Tengiz Kavtaradze ∘
SECTORALANDREGIONALPROBLEMSOF AGRICULTURAL DEVELOPMENT OF GEORGIA
Summary Reality shows that in Georgia, on the one hand, thoroughly destroyed (or still in progress) the previous system of the agricultural sector contributing services and, on the other hand, the slow is pace of emergence or transformation of services contributing to development of farmers and other medium or large farm in the new reality. Many district agricultural departments fail to adapt to free market relations, fail to deliver their services, and are doomed to complete destruction. At the regional and district level, the old system remains today: Plant Protection Station, Seed Quality Inspection, Zoo-Veterinary Station, Biolaboratory, Artificial Seeding Station, Breed Test and Selection Station, Agricultural Product and Food Quality Inspectorate, Water Quality Inspection Division etc. Some of these services can be operated, but the scales are limited, some are virtually non-operational, some suffer from a lack of information. The coordination of these services is
2019-11-21
SECTORALANDREGIONALPROBLEMSOF AGRICULTURAL DEVELOPMENT OF GEORGIA
Summary Reality shows that in Georgia, on the one hand, thoroughly destroyed (or still in progress) the previous system of the agricultural sector contributing services and, on the other hand, the slow is pace of emergence or transformation of services contributing to development of farmers and other medium or large farm in the new reality. Many district agricultural departments fail to adapt to free market relations, fail to deliver their services, and are doomed to complete destruction. At the regional and district level, the old system remains today: Plant Protection Station, Seed Quality Inspection, Zoo-Veterinary Station, Biolaboratory, Artificial Seeding Station, Breed Test and Selection Station, Agricultural Product and Food Quality Inspectorate, Water Quality Inspection Division etc. Some of these services can be operated, but the scales are limited, some are virtually non-operational, some suffer from a lack of information. The coordination of these services is
2019-11-21
∘ Gulshan Yuzbashieva ∘ Tariel Gurbanov ∘ Asif Mustafaev ∘
THE IMPACT OF LIBERALIZATION ON THE SECTORAL STRUCTURE OF INDUSTRY WITH INCREASED GOVERNMENT INTERVENTION DURING THE CYCLICAL REVIVAL
Summary The article notes that Azerbaijan gained the image of a strong country and the President has a clear idea of development, which is based on economic indicators, infrastructure projects, large-scale charitable and cultural-educational activities, development of the Extractive Industry Transparency Initiative (EITI) and the non-oil sector of the economy , launch of artificial satellite, ASAN service, named by the President as the brand of Azerbaijan. According to experts, changing the country's image (except for new strategies, investments and innovations) require a long period of time, and Azerbaijan has gone through it for 10 years. The government’s policy of modernization and technological development of the economy implies a move away from raw material dependence through innovative development. The President of the country announced a new stage in economic transformation, since an economy that does not guarantee stability, stability and does not ensure the
2019-11-21
THE IMPACT OF LIBERALIZATION ON THE SECTORAL STRUCTURE OF INDUSTRY WITH INCREASED GOVERNMENT INTERVENTION DURING THE CYCLICAL REVIVAL
Summary The article notes that Azerbaijan gained the image of a strong country and the President has a clear idea of development, which is based on economic indicators, infrastructure projects, large-scale charitable and cultural-educational activities, development of the Extractive Industry Transparency Initiative (EITI) and the non-oil sector of the economy , launch of artificial satellite, ASAN service, named by the President as the brand of Azerbaijan. According to experts, changing the country's image (except for new strategies, investments and innovations) require a long period of time, and Azerbaijan has gone through it for 10 years. The government’s policy of modernization and technological development of the economy implies a move away from raw material dependence through innovative development. The President of the country announced a new stage in economic transformation, since an economy that does not guarantee stability, stability and does not ensure the
2019-11-21
∘ Besik Bolkvadze ∘
ANALYTICAL IMPLICATION OF CASH FLOWS IN COMPANIES’ FINANCIAL DECISIONS
Summary The article is dedicated to the issues of corporate finance as follows: cash flow statement, qualitative analysis of cash flows, quantitative analysis of cash flows, company’s liquidity position, cash flows analytical instruments, the importance and inevitability of assessment of cash flow statement. The work suggests author’s opinions towards abovementioned topical issues. In transition phase of the economy of Georgia the accounting, reporting and auditing systems of the country experienced significant systematic changes and challenges from reformation point of view according to IFRS, Georgia-EU DCFTA and the country’s legislation. Cash flow statement is the base of the liquidity position of any business entity. It should provide the companies stakeholders with such valuable information as: Potential of cash flow generated; ability of covering of liabilities; scale of operating activity; capability of utilization of investment potential; level
2019-11-21
ANALYTICAL IMPLICATION OF CASH FLOWS IN COMPANIES’ FINANCIAL DECISIONS
Summary The article is dedicated to the issues of corporate finance as follows: cash flow statement, qualitative analysis of cash flows, quantitative analysis of cash flows, company’s liquidity position, cash flows analytical instruments, the importance and inevitability of assessment of cash flow statement. The work suggests author’s opinions towards abovementioned topical issues. In transition phase of the economy of Georgia the accounting, reporting and auditing systems of the country experienced significant systematic changes and challenges from reformation point of view according to IFRS, Georgia-EU DCFTA and the country’s legislation. Cash flow statement is the base of the liquidity position of any business entity. It should provide the companies stakeholders with such valuable information as: Potential of cash flow generated; ability of covering of liabilities; scale of operating activity; capability of utilization of investment potential; level
2019-11-21
∘ Goderdzi Tkeshelashvili ∘ Zviad Elizbarashvili ∘ Ilia Sharashenidze ∘
ON THE ORIGIN AND DEVELOPMENT OF TBILISI TRANSPORT SYSTEM
Summary Tbilisi is one of the largest urban cities with more than a million permanent residents and hundreds of thousands of visitors in need of transport services. This process is constantly improving with the impact of city and science and technology progress, but there are a number of problems with public passenger transport services. The article discusses the development of Tbilisi public transport in the historical context and analyzes the level of passenger transport services depending on the type of
2019-11-21
ON THE ORIGIN AND DEVELOPMENT OF TBILISI TRANSPORT SYSTEM
Summary Tbilisi is one of the largest urban cities with more than a million permanent residents and hundreds of thousands of visitors in need of transport services. This process is constantly improving with the impact of city and science and technology progress, but there are a number of problems with public passenger transport services. The article discusses the development of Tbilisi public transport in the historical context and analyzes the level of passenger transport services depending on the type of
2019-11-21
∘ Eter Kakulia ∘ Gocha Malania ∘
CRITERIA FOR DETERMINING THE STATUS OF SMALL AND MEDIUM ENTERPRISE AND DEVELOPMENT INDICATORS IN MODERN POST-SOVIET GEORGIA
Summary The strengthening of the role of small and medium enterprise (SME) is clearly reflected in the characteristic features of the economy of postindustrial states. This sector of business is seen as the guarantor of the country's social status - the formation of the middle class, the creation of new jobs, know-how and stability. Thus the question of small and medium enterprise(SME) development is not just a topical issue for a country like Georgia. In Georgia for many years, the recessionary situation of small businesses is mainly conditioned due to the fact that the country has not yet been created unified infrastructure to support small and medium businesses,as it is in EU countries. In line with the Association Agreement with the EU, reforms have been implemented in Georgia, efforts are underway to develop new approaches and approaches to the development of the small and medium business, however, small and medium enterprise (SME) still face difficulties in
2019-11-21
CRITERIA FOR DETERMINING THE STATUS OF SMALL AND MEDIUM ENTERPRISE AND DEVELOPMENT INDICATORS IN MODERN POST-SOVIET GEORGIA
Summary The strengthening of the role of small and medium enterprise (SME) is clearly reflected in the characteristic features of the economy of postindustrial states. This sector of business is seen as the guarantor of the country's social status - the formation of the middle class, the creation of new jobs, know-how and stability. Thus the question of small and medium enterprise(SME) development is not just a topical issue for a country like Georgia. In Georgia for many years, the recessionary situation of small businesses is mainly conditioned due to the fact that the country has not yet been created unified infrastructure to support small and medium businesses,as it is in EU countries. In line with the Association Agreement with the EU, reforms have been implemented in Georgia, efforts are underway to develop new approaches and approaches to the development of the small and medium business, however, small and medium enterprise (SME) still face difficulties in
2019-11-21
∘ Dali Magrakvelidze ∘
ANALYSIS OF CUSTOMER’S BEHAVIOR IN TERMS OF RISK BY UTILITY FUNCTION
Summary When making a choice in terms of risk, the consumer will inevitably face the distribution of probability of purchasing different consumer baskets. If the customer has reasonable preferences according to consumption under different conditions, then we will use the utility to describe those preferences. Generally, how a consumer assesses consumption in one situation relative to another depends on the actual probability of the given situation. For this reason, we present the utility function as a function that depends not only on the level of consumption but also on the probabilities. To analyze choice under risk we can use almost all we can use almost all utility functions. As an example we took case of complete substrates. Here it is natural to evaluate each consumption according to its probability of occurrence. This gives us the following type of utility function: Utility function can get the following convenient form: This equation shows that the
2019-11-21
ANALYSIS OF CUSTOMER’S BEHAVIOR IN TERMS OF RISK BY UTILITY FUNCTION
Summary When making a choice in terms of risk, the consumer will inevitably face the distribution of probability of purchasing different consumer baskets. If the customer has reasonable preferences according to consumption under different conditions, then we will use the utility to describe those preferences. Generally, how a consumer assesses consumption in one situation relative to another depends on the actual probability of the given situation. For this reason, we present the utility function as a function that depends not only on the level of consumption but also on the probabilities. To analyze choice under risk we can use almost all we can use almost all utility functions. As an example we took case of complete substrates. Here it is natural to evaluate each consumption according to its probability of occurrence. This gives us the following type of utility function: Utility function can get the following convenient form: This equation shows that the
2019-11-21
∘ George Bregvadze ∘
INNOVATION ACTIVITY IN GEORGIA
Summary The paper deals with the issues of innovative activity in Georgia in recent times. Upcoming statistics show the state of innovation activity in
2019-11-21
INNOVATION ACTIVITY IN GEORGIA
Summary The paper deals with the issues of innovative activity in Georgia in recent times. Upcoming statistics show the state of innovation activity in
2019-11-21
∘ Lali Khurtsia ∘
DIGITAL PLATFORMS AND ECONOMIC IMPACT
Summary The article explores the growing role of digital platforms in the modern global economy. The essence and characteristics of digital platforms, the conditions that give digital platforms flexibility and efficiency in the market are revealed. Key issues that have a positive impact on the social and political environment through digital platforms are listed. For the business model of digital platforms, negative impacts on society are also analyzed, including monopoly aspirations, growing inequality, and privacy issues. The article concludes that digital platforms are striving for universality, and their influence will be further enhanced by the introduction of digital currencies in financial transactions. Keywords: Digital, Globalization, Business Model, Cryptocurrencies, Facebook,
2019-11-21
DIGITAL PLATFORMS AND ECONOMIC IMPACT
Summary The article explores the growing role of digital platforms in the modern global economy. The essence and characteristics of digital platforms, the conditions that give digital platforms flexibility and efficiency in the market are revealed. Key issues that have a positive impact on the social and political environment through digital platforms are listed. For the business model of digital platforms, negative impacts on society are also analyzed, including monopoly aspirations, growing inequality, and privacy issues. The article concludes that digital platforms are striving for universality, and their influence will be further enhanced by the introduction of digital currencies in financial transactions. Keywords: Digital, Globalization, Business Model, Cryptocurrencies, Facebook,
2019-11-21
∘ Nata Davlasheridze ∘
THE LATEST TRENDS IN POLANDS INNOVATIVE DEVELOPMENT
Summary The article considers the latest trends of innovative development of Poland based on review of different information sources in this area and latest regional reports data. The main tasks in R&I policy development in Poland are now to increase the level of private research and development, to strengthen cooperation between science and industry, to improve the quality of the public research base, to strengthen the process of determining priorities in the R&I management system. The article states that those tasks were clearly defined, and major efforts have been made to solve them. According to STIP COMPASS the most common instruments of innovation police in Poland are project grants for public research, grants for business R&D and innovation, fellowships and postgraduate loans and scholarships, reform of governance structure or public body. The article also notes that one of the Poland’s innovation development key trends is following the Smart
2019-11-21
THE LATEST TRENDS IN POLANDS INNOVATIVE DEVELOPMENT
Summary The article considers the latest trends of innovative development of Poland based on review of different information sources in this area and latest regional reports data. The main tasks in R&I policy development in Poland are now to increase the level of private research and development, to strengthen cooperation between science and industry, to improve the quality of the public research base, to strengthen the process of determining priorities in the R&I management system. The article states that those tasks were clearly defined, and major efforts have been made to solve them. According to STIP COMPASS the most common instruments of innovation police in Poland are project grants for public research, grants for business R&D and innovation, fellowships and postgraduate loans and scholarships, reform of governance structure or public body. The article also notes that one of the Poland’s innovation development key trends is following the Smart
2019-11-21
∘ Tamaz Gamsakhurdia ∘ Teimuraz Pestvenidze ∘
SOME ACTUAL ISSUES OF ECONOMIC DEVELOPMENT IN POST-COMMUNIST GEORGIA
Summary The paper deals with some issues of economic development in Post-Communist Georgia. In particular, the declaration of Georgian independence gave the birth to Soviet mental attitude towards the work. Old party and farm nomenclature took a place in government and industrial Governance, who did not have enough knowledge and some experience in effective implementation of activities and market management, which caused the problem of country development. Obviously, that the country is in crisis, therefore, more effort is needed to awaken all members of society, to embark on a path of positive development. Every citizen should understand that we need to design and implant the new projects that will create jobs. The paper emphasizes that the most urgent tasks of improving the well-being of the population should be vital in resolving the acute problems facing the country, as the standard of living in the country has reached a critical level. Most state
2019-11-21
SOME ACTUAL ISSUES OF ECONOMIC DEVELOPMENT IN POST-COMMUNIST GEORGIA
Summary The paper deals with some issues of economic development in Post-Communist Georgia. In particular, the declaration of Georgian independence gave the birth to Soviet mental attitude towards the work. Old party and farm nomenclature took a place in government and industrial Governance, who did not have enough knowledge and some experience in effective implementation of activities and market management, which caused the problem of country development. Obviously, that the country is in crisis, therefore, more effort is needed to awaken all members of society, to embark on a path of positive development. Every citizen should understand that we need to design and implant the new projects that will create jobs. The paper emphasizes that the most urgent tasks of improving the well-being of the population should be vital in resolving the acute problems facing the country, as the standard of living in the country has reached a critical level. Most state
2019-11-21
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
SOME OF ECONOMIC ASPECTSOF TOURISM DEVELOPMENT OF AZERBAIJAN
Summary The quest for the former post-communist countries to stay in the advanced developed countries raises the issue of seeking alternative ways of rapid economic development. Formed on the basis of the collapse of the Soviet Union, the government of the independent Azerbaijan Republic made the decision to pursue a policy of economic diversification, and in this context the role of the major vector was shifted to tourism, which is one of the largest sectors of the modern economy. Azerbaijan's special natura resources, cultural, national, ethnographic, cultural-historical heritage, favorable geographical position, 9 climatic zones, diversity of flora and fauna, existence of the sea, fine cuisine, centuries-old traditions create great prospects for tourism development. The economic transformation strategy of the country is supported by the laws and programs adopted at different times in the country. According to the Azerbaijan Center for Economic and Social Development,
2019-11-21
SOME OF ECONOMIC ASPECTSOF TOURISM DEVELOPMENT OF AZERBAIJAN
Summary The quest for the former post-communist countries to stay in the advanced developed countries raises the issue of seeking alternative ways of rapid economic development. Formed on the basis of the collapse of the Soviet Union, the government of the independent Azerbaijan Republic made the decision to pursue a policy of economic diversification, and in this context the role of the major vector was shifted to tourism, which is one of the largest sectors of the modern economy. Azerbaijan's special natura resources, cultural, national, ethnographic, cultural-historical heritage, favorable geographical position, 9 climatic zones, diversity of flora and fauna, existence of the sea, fine cuisine, centuries-old traditions create great prospects for tourism development. The economic transformation strategy of the country is supported by the laws and programs adopted at different times in the country. According to the Azerbaijan Center for Economic and Social Development,
2019-11-21
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
SOME ASPECTS OF THE ECOLOGICAL SYSTEM OF THE REPUBLIC OF BELARUS
Summary The work is dedicated to one of the most pressing problems of today, such as disrupting the Earth's ecological balance and interdependence of environment protection and care. The process of the highest rate of growth of industry has significantly changed the climate on the earth. All these are the reason of pollution and exhaustion of water and soil resources; many species of plants and animals have disappeared and some are on the verge of disappearance. Catastrofic are the rate of increase and frequency of illnesses caused by the pollution of environment with industrial wastes. One of the post-communist countries – the republic of Belarus was precisely ecologically damaged by the Chernobyl disaster. The main causes of the ecological crisis in Belarus are: pollution by radionuclides and its impact on human health and the country's flora and fauna; Ambient air pollution, including in cities; Deterioration of water quality and pollution of reservoirs,
2019-11-21
SOME ASPECTS OF THE ECOLOGICAL SYSTEM OF THE REPUBLIC OF BELARUS
Summary The work is dedicated to one of the most pressing problems of today, such as disrupting the Earth's ecological balance and interdependence of environment protection and care. The process of the highest rate of growth of industry has significantly changed the climate on the earth. All these are the reason of pollution and exhaustion of water and soil resources; many species of plants and animals have disappeared and some are on the verge of disappearance. Catastrofic are the rate of increase and frequency of illnesses caused by the pollution of environment with industrial wastes. One of the post-communist countries – the republic of Belarus was precisely ecologically damaged by the Chernobyl disaster. The main causes of the ecological crisis in Belarus are: pollution by radionuclides and its impact on human health and the country's flora and fauna; Ambient air pollution, including in cities; Deterioration of water quality and pollution of reservoirs,
2019-11-21
∘ Medea Melashvili ∘ Nunu Kistauri ∘ Ketevan Kveladze ∘
ON THE INNOVATIVE SYSTEM OF THE REPUBLIC OF BELARUS
Summary The transition to innovative rails of economic development of the republic of Belarus is a key issue of the country's socio-economic development program. The program focuses on the preservation and development of the republic's scientific and human resources. The most significant tasks in this respect are: level of remuneration, economic and social security of science, raising the prestige of scientific activities, creation of innovative infrastructure, including technology transfer centers, innovation technology centers, technoparks, business incubators, staff Training Centers
2019-11-21
ON THE INNOVATIVE SYSTEM OF THE REPUBLIC OF BELARUS
Summary The transition to innovative rails of economic development of the republic of Belarus is a key issue of the country's socio-economic development program. The program focuses on the preservation and development of the republic's scientific and human resources. The most significant tasks in this respect are: level of remuneration, economic and social security of science, raising the prestige of scientific activities, creation of innovative infrastructure, including technology transfer centers, innovation technology centers, technoparks, business incubators, staff Training Centers
2019-11-21
∘ Marine Tsutskiridze ∘
ONTHEUSEOFHIGH-TECHBUSINESS INTHEDEVELOPMENTOFTHEPOST-COMMUNISTECONOMY
Summary The paper deals with issues of the use of basic High technologies in business development, which is the specificity of the use of high technologies in the economy. While describing defense technologies,we consider their dual-use feature, which is its main peculiarity. The paper discusses the types of defense and dual-use technologies that are used for rational management of business system. It addresses the problems of integration into scientific and technical researches and technological processes of the European Union. These technologies are discussed in relationship with the EU's innovative policies and its use as a major innovation resource in the industry sectors of business is clarified. While analyzing technological business development the paper focuses on aspects of the use of innovative computer technologies in the production, service and financial , as well
2019-11-21
ONTHEUSEOFHIGH-TECHBUSINESS INTHEDEVELOPMENTOFTHEPOST-COMMUNISTECONOMY
Summary The paper deals with issues of the use of basic High technologies in business development, which is the specificity of the use of high technologies in the economy. While describing defense technologies,we consider their dual-use feature, which is its main peculiarity. The paper discusses the types of defense and dual-use technologies that are used for rational management of business system. It addresses the problems of integration into scientific and technical researches and technological processes of the European Union. These technologies are discussed in relationship with the EU's innovative policies and its use as a major innovation resource in the industry sectors of business is clarified. While analyzing technological business development the paper focuses on aspects of the use of innovative computer technologies in the production, service and financial , as well
2019-11-21
∘ Zurab Tsereteli ∘
FOOD SECURITY AS A CATEGORY OF THE MAIN ECONOMIC PROBLEM
Summary During the last years in Georgia, in spite of implemented transformation, the problem of food security again is important and it’s closely connected with problem of economic security. This issue has become more actual by deepen the processes of globalization and open economy. Economic security as a part of the national security plays the greatest role into reaching – consolidating independence and stability of country, in formation of economic discipline, the slight-easing of state regulation of this issue created many negative tendencies in Georgia. It denoted the economic potential of country and even created a danger for the statehood. In the article is presented food security as a category of the main economic problem. There is considered 4 (four) directions of evaluating of its negative influence in Georgia. With using materials of researches that are made by international organizations and data which is based on
2019-11-21
FOOD SECURITY AS A CATEGORY OF THE MAIN ECONOMIC PROBLEM
Summary During the last years in Georgia, in spite of implemented transformation, the problem of food security again is important and it’s closely connected with problem of economic security. This issue has become more actual by deepen the processes of globalization and open economy. Economic security as a part of the national security plays the greatest role into reaching – consolidating independence and stability of country, in formation of economic discipline, the slight-easing of state regulation of this issue created many negative tendencies in Georgia. It denoted the economic potential of country and even created a danger for the statehood. In the article is presented food security as a category of the main economic problem. There is considered 4 (four) directions of evaluating of its negative influence in Georgia. With using materials of researches that are made by international organizations and data which is based on
2019-11-21
∘ Lali Khikhadze ∘ Aleksandre Shulaia ∘
RELIGIOUS MOTIVES AND FEATURES IN SMALL BUSINESS DEVELOPMENT
Summary Religious systems and other sociocultural phenomena have an unequal and ambiguous effect on a particular industry or business of a subject in terms of their size, structure and purpose. In particular, although large enterprises, due to their scale and universal characteristics of the product / products, are less sensitive to specific market demand due to religious factors, these specific consumer groups may be the target audience for small enterprises. In addition, the religious features themselves are factors that determine the start-up of a business, an advantage of the relevant field and an incentive for its development. From the point of view of business orientation as well as its management, the influence of religious factors on small business is manifested in two directions: on the one hand, we are dealing with sacred motives that push people to make a profit, taking into account religious morality, values and ethics, on the other hand, determine the
2019-11-21
RELIGIOUS MOTIVES AND FEATURES IN SMALL BUSINESS DEVELOPMENT
Summary Religious systems and other sociocultural phenomena have an unequal and ambiguous effect on a particular industry or business of a subject in terms of their size, structure and purpose. In particular, although large enterprises, due to their scale and universal characteristics of the product / products, are less sensitive to specific market demand due to religious factors, these specific consumer groups may be the target audience for small enterprises. In addition, the religious features themselves are factors that determine the start-up of a business, an advantage of the relevant field and an incentive for its development. From the point of view of business orientation as well as its management, the influence of religious factors on small business is manifested in two directions: on the one hand, we are dealing with sacred motives that push people to make a profit, taking into account religious morality, values and ethics, on the other hand, determine the
2019-11-21
∘ Lia Dvalishvili ∘
GLOBAL ECOLOGICAL PROBLEMS AND GEORGIA
Summary The paper reviews the general environmental significance of ecological problems and indicates the magnitude of their impact on society. The overview of the close relationship between global problems and the results of community action in a global environment is discussed in greater detail. The close relationship between biosafety issues with the most important ecological components of the country is
2019-11-21
GLOBAL ECOLOGICAL PROBLEMS AND GEORGIA
Summary The paper reviews the general environmental significance of ecological problems and indicates the magnitude of their impact on society. The overview of the close relationship between global problems and the results of community action in a global environment is discussed in greater detail. The close relationship between biosafety issues with the most important ecological components of the country is
2019-11-21
∘ Tsitsino Tetrauli ∘
SOME ISSUES OF NATURAL RESOURCES USE IN POST-COMMUNIST COUNTRIES
Summary Life history is closely linked to soil history. Because land is an indispensable, immovable, and inexhaustible resource everything comes from him and everything goes back to him. The contradiction between population growth and food security is especially evident when it comes to the use of land resources, with an annual turnover of 7-8 million hectares of arable land. Soil erosion is a global problem. The only alternative to conservation of land resources is its conservation, as well as the transition to natural methods of land cultivation to preserve for future generations vital intergenerational resources such as land. Natural resources are shrinked as "shagreen skins" and if humanity does not take this fundamental problem wisely, future generations will surely face an ecological
2019-11-21
SOME ISSUES OF NATURAL RESOURCES USE IN POST-COMMUNIST COUNTRIES
Summary Life history is closely linked to soil history. Because land is an indispensable, immovable, and inexhaustible resource everything comes from him and everything goes back to him. The contradiction between population growth and food security is especially evident when it comes to the use of land resources, with an annual turnover of 7-8 million hectares of arable land. Soil erosion is a global problem. The only alternative to conservation of land resources is its conservation, as well as the transition to natural methods of land cultivation to preserve for future generations vital intergenerational resources such as land. Natural resources are shrinked as "shagreen skins" and if humanity does not take this fundamental problem wisely, future generations will surely face an ecological
2019-11-21
∘ Zurab Nozadze ∘
ECOLOGICAL MANAGEMENT MECHANISM AND ITS IMPORTANCE IN THE DEVELOPMENT OF A SUSTAINABLE ECONOMY
Summary Environmental policy-making is aimed at addressing key goals and objectives that contribute to the sustainable development of the natural environment. The environmental policy defines the organizational structure of the ecological standardization, the responsibility of the enterprise in protecting the natural environment according to the standard. Evaluating the effectiveness of environmental management is a continuous process of data gathering, analysis and information that determines the sustainable development of the economy. Environmental management of an enterprise is a part of the management of an enterprise, one of the areas in the enterprise's market relations. The economic management system is included in the management of the enterprise and is headed by the Deputy CEO. It is advisable to use innovative methods in environmental management of the enterprise. Ecological indicators characterize the production process, which includes both primary and auxiliary
2019-11-21
ECOLOGICAL MANAGEMENT MECHANISM AND ITS IMPORTANCE IN THE DEVELOPMENT OF A SUSTAINABLE ECONOMY
Summary Environmental policy-making is aimed at addressing key goals and objectives that contribute to the sustainable development of the natural environment. The environmental policy defines the organizational structure of the ecological standardization, the responsibility of the enterprise in protecting the natural environment according to the standard. Evaluating the effectiveness of environmental management is a continuous process of data gathering, analysis and information that determines the sustainable development of the economy. Environmental management of an enterprise is a part of the management of an enterprise, one of the areas in the enterprise's market relations. The economic management system is included in the management of the enterprise and is headed by the Deputy CEO. It is advisable to use innovative methods in environmental management of the enterprise. Ecological indicators characterize the production process, which includes both primary and auxiliary
2019-11-21
∘ Ketevan Shengelia ∘ Nino Maglakelidze ∘
THE INFLUENCE OF INFARMATION TECHNOLOGIES BUSINESS ON THE FUTURE EDUCATION SYSTEM
Summary We live in rapidly changeable world. Technologies change so fast that it was absolutely impossible to imagine ten years ego. Especially it concerns information technologies. Internet has radically changed the world, it made in small, transparent, global-virtual space. We get information about the latest events happened in any corner of the world in few seconds. It is evident, that educational system is under influence. Challenges towards the educational system change permanently. If knowledge got in University was enough for several decades and was unchanged, for graduates situation is importantly changed. Knowledge received in University must be permanently renewed by the young generation and give reference to self – development. School and University must improve skills of memory, creative thinking, aspiration towards the innovations and self-development. This is not a simple case. To overcome the unemployment the priority must be awarded to private sector,
2019-11-21
THE INFLUENCE OF INFARMATION TECHNOLOGIES BUSINESS ON THE FUTURE EDUCATION SYSTEM
Summary We live in rapidly changeable world. Technologies change so fast that it was absolutely impossible to imagine ten years ego. Especially it concerns information technologies. Internet has radically changed the world, it made in small, transparent, global-virtual space. We get information about the latest events happened in any corner of the world in few seconds. It is evident, that educational system is under influence. Challenges towards the educational system change permanently. If knowledge got in University was enough for several decades and was unchanged, for graduates situation is importantly changed. Knowledge received in University must be permanently renewed by the young generation and give reference to self – development. School and University must improve skills of memory, creative thinking, aspiration towards the innovations and self-development. This is not a simple case. To overcome the unemployment the priority must be awarded to private sector,
2019-11-21
∘ Qristine (Ketevan) Kuratashvili ∘
HUMAN INTELLECTUAL CAPITAL AND FACTOR OF CULTURE
Summary The study of the problems of human capital is one of the most important areas in economic science, because a person plays a major role in the functioning of the economy and social life. Moreover, human intellectual capital is of particular importance, since intelligence is of fundamental importance in the modern civilized world. As a human intellectual capital in scientific work is considered, first of all, the factor of culture, and, in particular, spiritual culture – as a necessary intellectual basis of social-economic progress. Key words: Human intellectual capital, Factor of culture, social-economic
2019-11-21
HUMAN INTELLECTUAL CAPITAL AND FACTOR OF CULTURE
Summary The study of the problems of human capital is one of the most important areas in economic science, because a person plays a major role in the functioning of the economy and social life. Moreover, human intellectual capital is of particular importance, since intelligence is of fundamental importance in the modern civilized world. As a human intellectual capital in scientific work is considered, first of all, the factor of culture, and, in particular, spiritual culture – as a necessary intellectual basis of social-economic progress. Key words: Human intellectual capital, Factor of culture, social-economic
2019-11-21
∘ Tamar Vanishvili ∘
THE RESULT OF OBTAINED BY AIM MANAGEMENT SUCCESS IN MODERN ORGANIZATION
Summary It is impossible to determine exactly what you want and what you can achieve. Luck plays a big part in making dreams come true, but only luck alone does not to provide dreams come true. The keystone is not to frightened of results obtained due carrying out of desired changes. Changes are obligatory and necessary. The proper selection of aim is the key to success. Half of the thrill for a purposeful person should fade when he makes a clear, definite, obvious decision, and the rest of the thrill will disappear by itself when the process of accomplishing the goal begins. The keystone is to know exactly what we want. When your phrase looks like this: I don't know exactly from what to start ...; Not sure about my idea ..., it is logical that you will not succeed in the near future. It is impossible to attribute person’s success to the 'special quality' of his brain. The key to this problem is one: to do and be able to see what is relevant in front of us. The myth is
2019-11-21
THE RESULT OF OBTAINED BY AIM MANAGEMENT SUCCESS IN MODERN ORGANIZATION
Summary It is impossible to determine exactly what you want and what you can achieve. Luck plays a big part in making dreams come true, but only luck alone does not to provide dreams come true. The keystone is not to frightened of results obtained due carrying out of desired changes. Changes are obligatory and necessary. The proper selection of aim is the key to success. Half of the thrill for a purposeful person should fade when he makes a clear, definite, obvious decision, and the rest of the thrill will disappear by itself when the process of accomplishing the goal begins. The keystone is to know exactly what we want. When your phrase looks like this: I don't know exactly from what to start ...; Not sure about my idea ..., it is logical that you will not succeed in the near future. It is impossible to attribute person’s success to the 'special quality' of his brain. The key to this problem is one: to do and be able to see what is relevant in front of us. The myth is
2019-11-21
∘ Roin Tateshvili ∘ Giorgi Jvaridze ∘
INVESTIGATION OF ECONOMIC INEQUALITY AND MIGRATION MOOD IN THE SAMTSKHE-JAVAKHETI REGIONPOPULATION
Summary The article discusses the Samtskhe-Javakheti region, in particular, economic inequality in Samtskhe-Javakheti region population. For this purpose, a sociological survey of 100 target groups was conducted. The study is conducted with the income inequality Test and the Migrant Mood Test. The inequality ratio, so called the Gini coefficient, calculated by the income of the surveyed population was 0.63, which is higher than the average in Georgia. This confirms the. greater economic inequality in Samtskhe-Javakheti region population. The migration readiness of the population interviewed for this reason is also very high. Key words: Economic inequality; Migrant sentiment; Standard of living;
2019-11-21
INVESTIGATION OF ECONOMIC INEQUALITY AND MIGRATION MOOD IN THE SAMTSKHE-JAVAKHETI REGIONPOPULATION
Summary The article discusses the Samtskhe-Javakheti region, in particular, economic inequality in Samtskhe-Javakheti region population. For this purpose, a sociological survey of 100 target groups was conducted. The study is conducted with the income inequality Test and the Migrant Mood Test. The inequality ratio, so called the Gini coefficient, calculated by the income of the surveyed population was 0.63, which is higher than the average in Georgia. This confirms the. greater economic inequality in Samtskhe-Javakheti region population. The migration readiness of the population interviewed for this reason is also very high. Key words: Economic inequality; Migrant sentiment; Standard of living;
2019-11-21
∘ Nino Zhorzhikashvili ∘
INDICATORS OF INCLUSIVE ECONOMIC GROWTH AND DEVELOPMENT (METHODOLOGICAL FOUNDATIONS)
Summary In the last few years, the model of inclusive growth and development is a very important issue for any country, this model has also influenced the development strategy "Georgia 2020". According to this approach, development policy should envisage participation of the poor and low income people, who should be benefited mostly. According to World Bank experts, the inclusive growth provides: 1) involvement of all the layers of society in the process of economic and non-economic activities 2) fair distribution of the results as much as possible. Priority is given primarily to maximal utilization of the human resources. The small improvement in living standards in the world, as well as in developing countries, has put the consensus on the agenda on the need for a more inclusive and sustainable model of economic growth. Today, living standards and well-being, economic progress is not assessed according to the growth rate of gross domestic product, but with
2019-11-21
INDICATORS OF INCLUSIVE ECONOMIC GROWTH AND DEVELOPMENT (METHODOLOGICAL FOUNDATIONS)
Summary In the last few years, the model of inclusive growth and development is a very important issue for any country, this model has also influenced the development strategy "Georgia 2020". According to this approach, development policy should envisage participation of the poor and low income people, who should be benefited mostly. According to World Bank experts, the inclusive growth provides: 1) involvement of all the layers of society in the process of economic and non-economic activities 2) fair distribution of the results as much as possible. Priority is given primarily to maximal utilization of the human resources. The small improvement in living standards in the world, as well as in developing countries, has put the consensus on the agenda on the need for a more inclusive and sustainable model of economic growth. Today, living standards and well-being, economic progress is not assessed according to the growth rate of gross domestic product, but with
2019-11-21
∘ Lela Mamaladze ∘
BLOCKCHAIN TECHNOLOGY: INTERNATIONAL EXPERIENCE AND GEORGIAN REALITY
Summary The purpose of this article is to explore the essence of digital technology innovation - the essence of blockchain, the stages of its creation and development, the fundamentals and capabilities, the pros and cons of using cryptographic assets. The study analyzes the steps taken to implement blockchain technology in Georgia as compared to the experience of overseas countries. Key words: Blockchain, digital technology, Public Registry,
2019-11-21
BLOCKCHAIN TECHNOLOGY: INTERNATIONAL EXPERIENCE AND GEORGIAN REALITY
Summary The purpose of this article is to explore the essence of digital technology innovation - the essence of blockchain, the stages of its creation and development, the fundamentals and capabilities, the pros and cons of using cryptographic assets. The study analyzes the steps taken to implement blockchain technology in Georgia as compared to the experience of overseas countries. Key words: Blockchain, digital technology, Public Registry,
2019-11-21
∘ Maia Grigolia ∘
Macroeconomic Effects of Fiscal Policy. Analysis of Postcrisis Period Discussions
Summary The last economic crisis in 2008-2009 led to rethinking the effectiveness of macroeconomic and fiscal policies. During the 2008-2009 recession, both developed and developing countries had to make an improvised policy decision to stimulate the economy by increasing aggregate demand. While in the pre-crisis period, more frequently monetary policy was addressed for stimulating the economy, already in the post-crisis era, most economists agree that in some situations fiscal policy can be more effective, and the opinion that monetary policy is more flexible and can be free from political pressure gradually diminishes (Blanchard, O., Rajan, R. G., Rogoff, K. S., Summers, L. H. 2016). After the 2008 crisis, both developed and developing countries have introduced fiscal stimulus programs in response to economic downturns (Shome 2012). The monetary policy aimed at boosting economic activity by raising the money supply did not work as the money multiplier and bank circulation
2019-11-21
Macroeconomic Effects of Fiscal Policy. Analysis of Postcrisis Period Discussions
Summary The last economic crisis in 2008-2009 led to rethinking the effectiveness of macroeconomic and fiscal policies. During the 2008-2009 recession, both developed and developing countries had to make an improvised policy decision to stimulate the economy by increasing aggregate demand. While in the pre-crisis period, more frequently monetary policy was addressed for stimulating the economy, already in the post-crisis era, most economists agree that in some situations fiscal policy can be more effective, and the opinion that monetary policy is more flexible and can be free from political pressure gradually diminishes (Blanchard, O., Rajan, R. G., Rogoff, K. S., Summers, L. H. 2016). After the 2008 crisis, both developed and developing countries have introduced fiscal stimulus programs in response to economic downturns (Shome 2012). The monetary policy aimed at boosting economic activity by raising the money supply did not work as the money multiplier and bank circulation
2019-11-21
∘ Beka Topuria ∘
SERVICE QUALITY – THE CHALLENGE OF HOTEL BUSINESS: EVIDENCE FROM TBILISI
Summary In parallel with the growth of tourist flows in Tbilisi and the economic development of the city, the number of hotels is growing. Due to the vicious practice of hotel star ratings in Georgia, the quality of local hotel services cannot provide a proper competitive advantage. The article identifies the challenges associated with the quality of hotel business services and identifies gaps in the organization of the front office and hotel reception. Along with the increase in tourism, demand for accommodation in Tbilisi is increasing, as evidenced by the increase number of hotels. The hotel market has a large share of small non-branded hotels (up to 20 rooms). Whereas in the absence of an internationally recognized voluntary rating system, for local hotels in Georgia, hotel owners subjectively “give” their hotels “stars”. Consequently, the importance of quality of service becomes more relevant in terms of creating competitive advantage and
2019-11-21
SERVICE QUALITY – THE CHALLENGE OF HOTEL BUSINESS: EVIDENCE FROM TBILISI
Summary In parallel with the growth of tourist flows in Tbilisi and the economic development of the city, the number of hotels is growing. Due to the vicious practice of hotel star ratings in Georgia, the quality of local hotel services cannot provide a proper competitive advantage. The article identifies the challenges associated with the quality of hotel business services and identifies gaps in the organization of the front office and hotel reception. Along with the increase in tourism, demand for accommodation in Tbilisi is increasing, as evidenced by the increase number of hotels. The hotel market has a large share of small non-branded hotels (up to 20 rooms). Whereas in the absence of an internationally recognized voluntary rating system, for local hotels in Georgia, hotel owners subjectively “give” their hotels “stars”. Consequently, the importance of quality of service becomes more relevant in terms of creating competitive advantage and
2019-11-21
∘ Lela Scholer-Iordanashvili ∘
COMPARATIVE ANALYSES OF DERIVATIVES MARKETS IN DEVELOPING AND DEVELOPED COUNTRIES
Summary The growth of derivatives turnover in emerging markets remains more rapid than in advanced economies. The largest emerging market derivatives markets are now located in Korea, Brazil and the two Asian financial centers of Hong Kong and Singapore. Only 10% of global derivatives turnover is in contracts denominated in the currency of an emerging market economy (EME), much lower than the share of these economies in global GDP or world trade. Derivatives in EME currencies also tend to be less complex and more likely to be traded outside the home economy than those in advanced economy currencies. Differences persist even if we control for key drivers of derivatives turnover such as the size of the bond market, the openness of the capital account, the amount of foreign trade and the size of external liabilities. Instead, the small size of EME derivatives markets appears to reflect differences in per capita income. Large external asset holdings by residents of a country go
2019-11-21
COMPARATIVE ANALYSES OF DERIVATIVES MARKETS IN DEVELOPING AND DEVELOPED COUNTRIES
Summary The growth of derivatives turnover in emerging markets remains more rapid than in advanced economies. The largest emerging market derivatives markets are now located in Korea, Brazil and the two Asian financial centers of Hong Kong and Singapore. Only 10% of global derivatives turnover is in contracts denominated in the currency of an emerging market economy (EME), much lower than the share of these economies in global GDP or world trade. Derivatives in EME currencies also tend to be less complex and more likely to be traded outside the home economy than those in advanced economy currencies. Differences persist even if we control for key drivers of derivatives turnover such as the size of the bond market, the openness of the capital account, the amount of foreign trade and the size of external liabilities. Instead, the small size of EME derivatives markets appears to reflect differences in per capita income. Large external asset holdings by residents of a country go
2019-11-21
∘ Nutsa Mchedlishvili ∘
GLOBAL INDEX OF INNOVATION IN GEORGIA AND ITS ANALYSIS
Summary Innovation in the social-economic development of the country must be seen as a form of realization of non-standart, creative ideas. There are many challenges facing economic development of Georgia in the modern reality. Georgia is not distinguished by any significant naturalresources, so it is important for the country to be based on a model of innovative economy. Innovation has a particular importance for the development of the business sector. It promotes high competitiveness,which in turn contributes to the development of business and ultimately to the economy. The purpose of the Global Index of Innovation is to highlight the multidimensional aspects of innovation and to identify tools that contribute to sustainable development and job growth. In the 2019 Global Innovation Index survey, Georgia was elevated to 48th place with 37 points. The following fundamental conditions are essential for establishing a national innovation system in our country: targeted
2019-11-21
GLOBAL INDEX OF INNOVATION IN GEORGIA AND ITS ANALYSIS
Summary Innovation in the social-economic development of the country must be seen as a form of realization of non-standart, creative ideas. There are many challenges facing economic development of Georgia in the modern reality. Georgia is not distinguished by any significant naturalresources, so it is important for the country to be based on a model of innovative economy. Innovation has a particular importance for the development of the business sector. It promotes high competitiveness,which in turn contributes to the development of business and ultimately to the economy. The purpose of the Global Index of Innovation is to highlight the multidimensional aspects of innovation and to identify tools that contribute to sustainable development and job growth. In the 2019 Global Innovation Index survey, Georgia was elevated to 48th place with 37 points. The following fundamental conditions are essential for establishing a national innovation system in our country: targeted
2019-11-21