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    Modern international economic relations of Georgia
    („Smarty“ Publishing, 2024) Veshapidze, Shota; Bakhtadze, Lela; Putkaradze, Ramaz; Kharitonashvili, Jemal; Danelia, Irakli; Lominashvili, Mikheil; Chantladze, Nanuka
    The global economy has entered a new age of national security under current conditions. The COVID-19 pandemic has highlighted the vulnerability caused by our reliance on global supply chains and a lack of collaboration in combating global health hazards. However, what has most distinguished this new century is Russia’s unjustified invasion of Ukraine, global economic devastation, food and energy warfare. Aside from the human and economic costs, the war in Ukraine has widened the schism between the Western and Eastern geopolitical blocs, which are centered on the United States and China, respectively. In the contemporary world, a country’s economic development is influenced by both local and external influences. As a result, in the context of modern socioeconomic growth, international economic ties are one of the most significant variables influencing Georgia’s long-term development. It helps to promote scientific and technical progress, the judicious use of natural resources, globalization of the world economy, the exchange of industrial expertise, the rapid growth of international economic ties, and worldwide commerce in products and services. The primary objective of global economic development is to maximize the benefits of the entire community’s combined economic capacity. At the same time, it is important to recognize that countries play different roles in this process, and the international importance of any country or its individual region is based on existing natural resources, economic development dynamics, its place in the global system of production of goods and services, and the existence and availability of financial resources. Georgia successfully participates in the global economic community, increases its export potential, expands economic cooperation with the rest of the world, and establishes mutually beneficial relations with the United States, the European Union, Azerbaijan, Armenia, the Middle East, Kazakhstan and other Central Asian republics, the Russian Federation, China, European countries, and Japan. A thorough grasp of international economic connections is required for Georgia’s incorporation into the global economy. As a result, it is critical to understand the associated developments of current world economic processes and their influence on Georgia. It is critical to determine where the sovereign state of Georgia’s future growth is heading, how it can secure the safety and well-being of its population, what its priorities are, and what the country’s external orientations are. In this context, the European integration of Georgia is an important issue. In a short period of time, Georgia received the status of a candidate for the European Union, and the country is successfully following the path of optimal synthesis of European values, advanced experience, sharing and establishment of achieved standards.
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    Unemployment and poverty in Georgia (უმუშევრობა და სიღარიბე საქართველოში)
    (Ivane Javakhishvili Tbilisi State University Press, 2022) Tsartsidze (ცარციძე), Murman (მურმან)
    Overcoming unemployment and ensuring effective employment of able-bodied population is a key task of any state's macroeconomic policy. Unemployment not only in Georgia but all over the world considered as the most difficult socio-economic event, phenomenon, without overcoming this problem its impossible efficient functioning of the economy. The social and economic consequences of unemployment in any country of the world are considered along with such important global problems as, poverty and social stability. Unemployment is the most acute socio-economic problem and current challenge in Georgia. It appears a major contributing factor to poverty in the country. Unemployment is high in both urban and rural areas. Among unemployed population is dominated by youth and people with higher education. Long-term (chronic) unemployment brings significant negative social and economic consequences for the society, which is adequately reflected in the overall process of economic development, also on the standard of living and quality of life on the country's population, on the health of each individual, on behaviour, on character, on mood, psyche, general physical and spiritual condition. In the paper presented depth research of unemployment as an important macroeconomic category, socio-economic phenomenon, discussed methodological bases of labour force, unemployment accounting (According to new standards of the International Labour Organization) and its main forms in Georgia, rated natural level of unemployment and the factors affecting on it, analyzed current state of unemployment and poverty, is studied the impact of unemployment, poverty on labour migration and the informal sector of the labour market. The final part of the paper assesses the negative socio-economic consequences of unemployment in Georgia. Naturally, studies is conducted by Georgian and foreign scientists, about on the problems in the field of labour market, employment, unemployment and social-labour relations in general which is provided and reflected in the relevant part of the paper. The monograph is intended for economic specialists, as well as for a wide range of readers interested in socio-economic problems of employment and labour relations.
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    ქვეყნების კონკურენტუნარიანობა და კლასტერები: ისტორია და თანამედროვეობა (Country competitiveness and clusters: history and nowadays)
    (უნივერსალი (Universal), 2012) გაგნიძე (Gagnidze), ინეზა (Ineza)
    თანამედროვე ეკონომიკურ თეორიაში ნაციონალური კონკურენტუნარიანობა ერთ-ერთი ყველაზე საკამათო და კვლევის თვალსაზრისით, საკმაოდ რთული საკითხია. ამავდროულად, პოსტსაბჭოთა გარდამავალი ეკონომიკის მქონე ქვეყნები დგანან ისეთი დიდი გამოწვევის წინაშე, როგორიცაა ქვეყნის ეკონომიკის ანვითარებისა და ახალ გარემოებებთან ადაპტაციის შესაბამისი ისეთი ეკონომიკური პოლიტიკის შემუშავება, რამაც უმოკლეს ვადაში უნდა განაპირობოს განსხვავებული სასტარტო პირობებისა და მემკვიდრეობის, ტრადიციებისა და ეროვნული კულტურის ფასე-ულობების მქონე ქვეყნების წარმატება. აღნიშნული მიზნის მისაღწევად, გარდამავა-ლი ეკონომიკის მქონე მრავალი ქვეყანა თავისი ეკონომიკის განვითარების სტრატე-გიაში წარმატებით იყენებს ნაციონალური კონკურენტუნარიანობისა და კლასტერების კონცეფციებს. ვფიქრობთ, მათი გამოყენება საქართველოს ეკონომიკის პირობებშიც ასევე წარმატებული იქნება. წარმოდგენილი ნაშრომი, ერთგვარი გზამკვლევის როლს შეასრულებს ამ საკითხებზე მომუშავე მეცნიერების, სტუდენტების, პრაქტიკოსი ეკონომისტებისა და დაინტერესებული მკითხველის ფართო წრისთვის. (We got interested in the scientific study of competitiveness and clusters a few years ago while preparing a masters course for the students. The interest deepened and gradually it turned into scientific and research direction. The main part of the present monograph consists of the papers presented at different international and interuniversity scientific conferences and the articles published in different journals since 2007, which have been specially reviewed and revised for the monograph. All the references noted in the monograph are kept in our private library (e-version and or hard copy) and we would gladly share them with anyone, interested in the issue. Taking into account the depth and the importance of the issue discussed, the volume of the monograph is rather small, though, it will give a general idea to the reader willing to know more about country competitiveness and clusters. Two interuniversity scientific conferences “Economy of Georgia in the World Competitiveness Indicators: Problems and Perspectives”, held at the Faculty of Economics and Business of Ivane Javakhishvili Tbilisi State University in 2008 and 2010 were dedicated to the issue of global competitiveness of countries. The conferences were initiated by us and we actively participated in organizing them. We would like to note that the present work is one of the first large-scale publications regarding this issue. This is a great honor for us but a great responsibility at the same, as the work can’t be complete and comprehensive. A large amount of information was translated and processed by us for the first time and thus, there is a possibility that some of the terms and definitions are not quite properly interpreted. Taking into consideration all the above-mentioned, there might be some mistakes and inaccuracies in the text and we would be grateful to everyone for indicating them to us. The issues of clusters and competitiveness are controversial and at the same time very important for further development of Georgia’s economy and we hope that a lot of articles and monographs will be dedicated to these issues in future as well. We appreciate all such initiatives and suppose to continue our research in this direction either.)
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    მართლმადიდებლობა და ეკონომიკა (Orthodoxy and economy)
    (უნივერსალი (Universal), 2013) გაგნიძე (Gagnidze), ინეზა (Ineza)
    Concept of the “New Athens and New Jerusalem” proposed by the Georgian King St. David IV the Builder is topical until now. Construction of a building starts from its foundation. Therefore industrial relationships in Georgia must be based upon the strong foundation in a form of the “comprehended religion” – Orthodox Christianity. For generations who grew in Soviet Georgia without any religious education, orthodox studies were counted to be the field only for philologists and historians. Younger generations inherited this approach from them. That is why, even today orthodox studies and theory of economics are considered to be quite demarcated fields. The work discusses the arguments of necessity for the intervention of the state in the education system and the educational functions of the state. One of the arguments of the state in the education system is “the necessity to establish “the general value in the society”. Therefore, we believe that the norms introduced as a result of reforms to the educational system of the country must not be contrary to the established rules and customs for centuries in Georgia that were determined by the influence of Christian religion. That means the generation of harmonic dependence between knowledge and faith in individual. This view is supported by the work of thinkers: Goethe, Planck, Einstein and others' statements. There are also the opinions of Saint Ilia the Righteous (Ilia Chavchavadze), Saint Gabriel Bishop (Kikodze) and Catholic-Patriarch of all Georgia Ilia II. Based on the Old and New Testaments, the issue of transformation of the snake from the symbol of evil to the symbol of wisdom is explained. According to the well-known experts, any political, social and economical model in an individual country undergoes change in accordance with religious-national features and traditions. Historically Georgia underwent permanent attacks from the countries with different culture (qualitatively and from the viewpoint of the level of development). The above difficulties forced the country to quickly and adequately react on the novelties foisted on the country and to adapt to them. In the main, such adaptation was superfluous and was characterized with resistance against features unacceptable to the traditional culture: the Georgian culture and traditions in a course of centuries were determined by teaching of the Orthodoxy. Shown: the main principles of labour relationship and compensation according to the Bible, the possibilities of its imploring and its implementing in economics of Georgia. The presented work also deals with the comparison of wisdom given in the gospel and the views of Prof. Gregory Mankiw, Harvard University, about decision making process by individuals given in his book “Principles of Economics”. In the presented work there are some extracts from the gospel and Holy Write which are analogous to the considerations discussed in the textbook “Principles of Economics” and which suggest the ways to solve the definite problems. This is one more proof that wisdom given in orthodox studies is eternal. In his famous research Competitive Advantages of Nations M. Porter, a,well-known professor from Harvard University, wrote: “Competitiveness of a country is a result of combination of its organizational model and management practices, which are the most acceptable for certain countries and competitiveness sources of certain industries. Differences in national values, culture, economic structure, functioning organizations and historic development make contribution to obtaining competitive advantages”. In the yearbook for 2011 produced by the world competitiveness research center of Lozano, over 300 criteria for world competitiveness are divided into 4 major groups: 1. Economic Performance; 2. Government Efficiency; 3. Business Efficiency; 4. Infrastructure. “Approaches and Values” is one of the five sub factors determining business effectiveness, which in its turn is assessed with seven indicators, namely: attitudes toward globalization; the country’s image abroad; national culture; flexibility and adaptability; need for economic and social reforms; value system; corporate values. The article provides citations from the Gospel and Epistles, the information from the website of the Ministry of Economics and opinions of famous Georgian researchers, which prove that Orthodox religion is one of the important factors for raising competitiveness of Georgia’s economy.
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    საბანკო და საკრედიტო ორგანიზაციების რეინჟინერინგი: თეორია და პრაქტიკა
    (გამომცემლობა "ინტელექტი", 2020) ღუდუშაური, ლეილა
    თანამედროვე ბანკს, მკაცრი ბანკთაშორისი კონკურენციისა და ფინანსური მომსახურების ბაზრის მუდმივი ცვალებადობის პირობებში, გადარჩენის აუცილებლობა აიძულებს სერიოზულად გადახედოს თავისი საქმიანობის თითოეულ ასპექტს. ახალი ფინანსური პროდუქტებისა და ტექნოლოგიური ინოვაციების მზარდი ნაკადი საჭიროებს განვითარების მიმართულების სწორ და, ამავე დროს, სწრაფ პროგნოზს. საბანკო მომსახურებაზე ფასების დადგენის პრიმიტიულმა, ე. წ. ,,პაკეტურმა” პრაქტიკამ საბოლოოდ ამოწურა თავისი შესაძლებლობები, ვინაიდან თანამედროვე ეტაპზე უპირატესობა ფინანსური მომსახურების კონკრეტული სახეობის მოთხოვნას ენიჭება. აღნიშნული ტენდენციები, სხვა ფაქტორებთან ერთად, აყალიბებენ სფეროს, სადაც მმართველობითი გადაწყვეტილებების მიღების დროს დასაშვები შეცდომების არეალი მუდმივად მცირდება. საბანკო სისტემის მსოფლიო გამოცდილება ცხადყოფს, რომ ქვეყნის საკრედიტო სისტემის ბევრი რთული საკითხი შეიძლება დაძლეულ იქნეს, თუ გათვალისწინებული იქნება საბანკო სისტემის მართვის უახლესი თეორიები, მათ შორის, პირველ რიგში, საბანკო ბიზნეს-პროცესების რეინჟინერინგი. ნაშრომში განხილულია ბანკების რეინჟინერინგის, ანუ საბანკო ბიზნეს-პროცესების ფუნდამენტური რეორგანიზაციის თანამედროვე მექანიზმი, ბანკების საქმიანობის ოპტიმალური და მაქსიმალურად ეფექტური მოდელების აგებისა და ფუნქციონირების ახალი ფორმები და მეთოდები, ტექნიკა და ტექნოლოგიები. ნაშრომი გათვალისწინებულია ფინანსებისა და საბანკო საქმის სპეციალობის მაგისტრანტების, დოქტორანტების, მეცნიერ-მუშაკების, ბანკირებისა და საბანკო საქმიანობით დაინტერესებული მკითხველისთვის.
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    რეგიონული ეკონომიკური ინტეგრაცია - მცირე ქვეყნების ეკონომიკური პოლიტიკის კოორდინაციის სრულყოფის მიმართულება
    (უნივერსალი, 2018) ლეკაშვილი, ეკა
    This study is a gradual research based on a scientific study concept that was accomplished by the author and discussed at the Department of Economic Policy at the Faculty of Economics and Business. The monograph investigated theoretical and practical issues of regional economic integration policy, preconditions of regional economic integration, goals, policies and the expected outcomes. Besides this, during the problem research emphasis was made on integration of small countries into regional integration associations, as this strategy is considered to be the priority direction for inhancing Georgia’s international competitiveness. The study referred to the economic and geographical aspects of economic integration assessment, including the peculiarities of the framework policy and the active integration models in the world, according to the regions: Western European, Central and Eastern Europe and Asia, America, Asia Pacific, Arab and African regional organizations. The research focused on the direction of the coordination improvement of small countries’ economic policies, including the aspects of Georgia's position and successful integration into regional groups. The study is intended for students and professors of economics and business administration programs, high education institutions of economic sections, as well as a wide range of readers interested in theory and practice of regional economic integration policy.
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    The importance of financial reporting transparency and ways to improve its analysis in Georgian enterprises (research project for enterprise management)
    (2019) Chiladze, Izolda; Maisuradze, Marina; Vardiashili, Mariam; Kozamnasvili, Lia; Modebadze, Tamar
    The association agreement between Georgia and the European Union obliges Georgia to gradually bring its legislation into line with EU law and international legal instruments. One of the areas that European legislation dictates to Georgia is to increase the transparency of business financial reporting in the country. This will help increase the quality of enterprise management. Following the signing of the Association Agreement with the EU, Georgian enterprises are required to publish financial statements. In Georgia necessary to establish transparency of financial reporting. Financial reporting is a key information source for analyzing the financial and economic performance of companies. This information helps enterprise management to fully control the company's solvency, financial position, risks and profitability, and to make adequate decisions. Thus, the issues of the financial reporting methodology have not lost its actuality. The purpose of the research project is to develop and deliver methodological and practical recommendations for financial reporting analysis to Georgian enterprises as well as to other stakeholders. The subject of the project research is the financial statements published on the financial reporting portal, based on which the recommendations will be developed for the identified gaps. The study was selected ten Georgian enterprises from different sectors, except for the financial sector. The study uses quantitative and qualitative analysis methods. Specifically, mathematical tools, factor elimination method, vertical, horizontal and ratio analysis methods are used. The practical significance of the study is that any practical and methodical recommendations provided by the community process can be applied to any enterprise registered in Georgia (except the financial and public sector). The report recommends that all enterprise management regularly apply the methods of vertical, horizontal and coefficient analysis of financial statements presented in this work; Using a multi-factor model of cash flow numbers, organic capital structure, profitability, operational and financial leverage indicators developed by one of the authors will help enterprise management measure the impact of factors on the deviation of these indicators and make appropriate decisions. The research presented in Georgia is the first attempt to help business owners and managers understand, on the one hand, that the transparency of financial statements, which not only publishes them but also publicly discusses them, is not unnecessary or dangerous. This scientific-research project will be provided to all interested persons as a recommendation. The successful implementation of project recommendations in practice will be one of the strong empirical results of cooperation and partnership between the scientific sector and the practical economic sector. Keywords: financial reporting, transparency, solvency, profitability, leverage, factor-models.
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    ტრანსნაციონალური კორპორაციების როლი მსოფლიო ეკონომიკის გლობალიზაციის პროცესში (The Role of Transnational Corporations in the Globalization of the World Economy)
    (უნივერსალი, 2010) ჯამაგიძე, ლელა
    The book is devoted to the analysis of the characteristics of transnational corporation operation and development at the current stage of globalization of the world economy. Their role in international trade, global investment flows and technology transfer is discussed against the background of increasing country interdependence. How Georgia can deal with transnational corporations in order to deepen its integration with the global economy is also discussed. The book can be useful to scholars specialized in international economics and people interested in the above mentioned topics. წიგნში განხილულია ტრანსნაციონალური კორპორაციების განვითარებისა და ფუნქციონირების თავისებურებები მსოფლიო ეკონომიკის გლობალიზაციის თანამედროვე ეტაპზე; შესწავლილია მათი როლი საერთაშორისო ვაჭრობაში, ინვესტიციების გლობალური ნაკადების მოძრაობასა და ტექნოლოგიური ნაკადების გადაადგილებაში ქვეყნების მზარდი ურთიერთდამოკიდებულების ფონზე. განხილულია საქართველოს გლობალურ ეკონომიკასთან ინტეგრირების გასაღრმავებლად ტნკ-ებთან ურთიერთოების სხვავასხვა ასპექტი.