Econometric analysis of the trade relations of Georgia and its development prospects
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Date
2023
Authors
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Journal ISSN
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Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
As a result of the research, it was determined that the gravity model is an important tool for international
trade research. Including additional variables in the model expands the possibilities of its use. The construction
of the model and the calculations made on this basis quite accurately characterize the trend established in the
foreign trade of Georgia. As a result of the calculations, it was determined that it is important to improve Georgia's
competitiveness, to increase its export potential, to produce goods in demand on international markets,
and to perfect export products. The analysis established that Georgia's trade relations are developing successfully
with the countries with which it has a common border, in the perspective it is important to use the resource
potential of the sea, which should be focused on those countries that are distinguished by a large geographical
distance. The gravitational effect of trade shows that Georgia has a great trade potential, the utilization
of which depends a lot on the reasonable economic policy of the country, which ultimately has a positive
impact on the country's economic development.
Description
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Keywords
Citation
VIII International Scientific Conference: "Challenges of Globalization in Economics and Business", Proceedings , Tbilisi, 2023, pp. 417-422