Thinking is one of the most important characteristics of a person bearing great importance in their activities. Thinking is an active process of reflecting reality in human consciousness, which relies on knowledge, intuition, habits and skills and determines human behaviour in a particular situation. Thinking is not only a source of knowledge, but also a more complex characteristic of a person. It determines the success of their activities, no matter what the person is busy with. A manager's job is to interact with people, make managerial decisions. The quality of decisions depends on the nature and type of thinking of the manager. A manager shall work not only with people, but also take care of the development of their own qualities, which is especially important in the context of the development of his thinking. Systemic thinking is considered one of the most valuable characteristics of a researcher, since, in the course of assessment and analysis it helps to cover the entire event, to consider the various connections between its components, properties and characteristics, to find the main system-forming factor, to notice the invisible aspects of the problem and predict the behaviour of elements. In the practice of conducting a research, it also happens that the researcher becomes obsessed with any detail that leads him in another direction, it becomes a leading idea and, over time, loses focus on the essence. The conceptual type of thinking is a certain type of modification of the systemic type, its “amplifier” and “stabiliser”. A concept is a set of key provisions or a set of shapes enabling the maintenance of the domain of the research. This is a kind of compass in the movement of a thought. In the area of management, such provisions for the research may be the following: Management is diverse and multi-optional, that is why it cannot be minimized to one of its options, no matter how perfect it may seem. Management is based on striving towards harmony (agreement, organisation, coordination, etc.), that is, harmony of balance, resistance and combinations. The concept reflects the unique ability of a person to combine in research their knowledge with predictions, existing understanding of certain events, beliefs and assumptions about the essence of the first and second order. Theoretical thinking is characterised by striving towards abstract generalisation, the search for patterns, the formation of a theory, general signs of objectivity, the definition of certain conclusions and results of the research, the universality of provisions and formulations. Theoretical thinking being far from reality is dangerous, with such an abstraction that leads to the loss of the features of the essence of the event, theoretical over-simplification or unjustified globalism. Empirical thinking is also important, prioritising experience, generalisation, limitation by experience and relies solely on the results of experience in assessing. The existence
{"title":"DIVERSITY OF THINKING WHEN MAKING MANAGEMENT DECISIONS","authors":"E. Baratashvili, Leila Mamulashvili","doi":"10.52244/ep.2021.22.13","DOIUrl":"https://doi.org/10.52244/ep.2021.22.13","url":null,"abstract":"Thinking is one of the most important characteristics of a person bearing great importance in their activities. Thinking is an active process of reflecting reality in human consciousness, which relies on knowledge, intuition, habits and skills and determines human behaviour in a particular situation. Thinking is not only a source of knowledge, but also a more complex characteristic of a person. It determines the success of their activities, no matter what the person is busy with. \u0000 A manager's job is to interact with people, make managerial decisions. The quality of decisions depends on the nature and type of thinking of the manager. A manager shall work not only with people, but also take care of the development of their own qualities, which is especially important in the context of the development of his thinking. \u0000 Systemic thinking is considered one of the most valuable characteristics of a researcher, since, in the course of assessment and analysis it helps to cover the entire event, to consider the various connections between its components, properties and characteristics, to find the main system-forming factor, to notice the invisible aspects of the problem and predict the behaviour of elements. In the practice of conducting a research, it also happens that the researcher becomes obsessed with any detail that leads him in another direction, it becomes a leading idea and, over time, loses focus on the essence. \u0000 The conceptual type of thinking is a certain type of modification of the systemic type, its “amplifier” and “stabiliser”. A concept is a set of key provisions or a set of shapes enabling the maintenance of the domain of the research. This is a kind of compass in the movement of a thought. In the area of management, such provisions for the research may be the following: \u0000 Management is diverse and multi-optional, that is why it cannot be minimized to one of its options, no matter how perfect it may seem. Management is based on striving towards harmony (agreement, organisation, coordination, etc.), that is, harmony of balance, resistance and combinations. The concept reflects the unique ability of a person to combine in research their knowledge with predictions, existing understanding of certain events, beliefs and assumptions about the essence of the first and second order. \u0000 Theoretical thinking is characterised by striving towards abstract generalisation, the search for patterns, the formation of a theory, general signs of objectivity, the definition of certain conclusions and results of the research, the universality of provisions and formulations. Theoretical thinking being far from reality is dangerous, with such an abstraction that leads to the loss of the features of the essence of the event, theoretical over-simplification or unjustified globalism.\u0000 Empirical thinking is also important, prioritising experience, generalisation, limitation by experience and relies solely on the results of experience in assessing. The existence ","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129555921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The topic of the article is very important and significant, because taxes are one of the main subjects in economic relation. Generally taxes can regulate the direction of Georgian economic and promote its rapid development. The innovation which realizes in taxes are mainly loyal and easing. Most of them are closely connected with covid-19 pandemic, while others are the result of Association Agreement of European Union. One of the most remarkable issues in the article is to collect and realize the information about taxpayers and after that plan to revise them. According to this method, the taxpayers have chance to save human resources and their efforts to concentrate on development and progress. All these affect the revenue of budget and economic of Georgia. The article provides people overview the changes in income taxsuch additional support for employees on short-time because of the economic consequences of the Covid-19 pandemic. In Georgia, there was some privilege for people who have salary less than 1500 Gel. On the other side, in Greece, government funding of the employers contributions, for enterprises which operate in tourist accommodation sector, under the condition that they have a 70% reduction of their earnings. There are very loyal issues about profit tax. For example, corporations which contribute money STOPCOV funds are absolutely free of taxation, this regulation helps government to deal effectively with covid-19 pandemic, on the other side firms are given opportunity to take part in social activity. There are lots of changes connected with value added tax. First of all the taxpayers give possibility to return VAT from budget without much unpleasant procedure. According to this rule, one milliard gel was comeback from budget during 2020 year. It is very essential to admit negative effects of this regulation, particularly “fake firms” give chance to return as much money from budget as possible. All these influenced negatively on finance of budget and economic. It is remarkable to admit about encouraging decision of VAT. In Georgia, health and educational sectorandall services connected with them are absolutely free of VAT. All these aren’t connected with Covid-19 pandemic but they are considerable decision which provide development and progress of this field. In foreign countries medical services, take-away food and drinks, tourism, hospitality sector, restaurants and cafeterias and self-employed workers use decreased tax rate during the pandemic. In Ireland reduced rate of VAT for tourism sector from 13.5% to 9%, in Germany for restaurants VAT was reduced from 19% to 16%, in Hungarian there was privilege for ,,take-away” food and drink. In conclusion, the article gives us very essential information about changes and discouraging regulation of taxes. All there are important while according to these innovation state must provide its fiscal and regulator reason. It’s very difficult to make right decision in tax lows, firstly,
{"title":"THE CHANGES OF TAX LAWS AND THEIR ESTIMATION","authors":"Lia Kheladze","doi":"10.52244/ep.2021.22.10","DOIUrl":"https://doi.org/10.52244/ep.2021.22.10","url":null,"abstract":"The topic of the article is very important and significant, because taxes are one of the main subjects in economic relation. Generally taxes can regulate the direction of Georgian economic and promote its rapid development.\u0000 The innovation which realizes in taxes are mainly loyal and easing. Most of them are closely connected with covid-19 pandemic, while others are the result of Association Agreement of European Union.\u0000 One of the most remarkable issues in the article is to collect and realize the information about taxpayers and after that plan to revise them. According to this method, the taxpayers have chance to save human resources and their efforts to concentrate on development and progress. All these affect the revenue of budget and economic of Georgia.\u0000 The article provides people overview the changes in income taxsuch additional support for employees on short-time because of the economic consequences of the Covid-19 pandemic. In Georgia, there was some privilege for people who have salary less than 1500 Gel. On the other side, in Greece, government funding of the employers contributions, for enterprises which operate in tourist accommodation sector, under the condition that they have a 70% reduction of their earnings.\u0000 There are very loyal issues about profit tax. For example, corporations which contribute money STOPCOV funds are absolutely free of taxation, this regulation helps government to deal effectively with covid-19 pandemic, on the other side firms are given opportunity to take part in social activity.\u0000 There are lots of changes connected with value added tax. First of all the taxpayers give possibility to return VAT from budget without much unpleasant procedure. According to this rule, one milliard gel was comeback from budget during 2020 year. It is very essential to admit negative effects of this regulation, particularly “fake firms” give chance to return as much money from budget as possible. All these influenced negatively on finance of budget and economic.\u0000It is remarkable to admit about encouraging decision of VAT. In Georgia, health and educational sectorandall services connected with them are absolutely free of VAT. All these aren’t connected with Covid-19 pandemic but they are considerable decision which provide development and progress of this field.\u0000 In foreign countries medical services, take-away food and drinks, tourism, hospitality sector, restaurants and cafeterias and self-employed workers use decreased tax rate during the pandemic. In Ireland reduced rate of VAT for tourism sector from 13.5% to 9%, in Germany for restaurants VAT was reduced from 19% to 16%, in Hungarian there was privilege for ,,take-away” food and drink. \u0000 In conclusion, the article gives us very essential information about changes and discouraging regulation of taxes. All there are important while according to these innovation state must provide its fiscal and regulator reason. It’s very difficult to make right decision in tax lows, firstly, ","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127005507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper aims to examine the role of COVID-19 pandemic on the population migration in Lithuania. A situation analysis using the newest available migration data was deployed. It is found that the COVID-19 was generally associated with decreased emigration and increased immigration with the main changes occurring on the emigration side. In addition, women were less prone to migration in time of uncertainty while migrants were more willing to try out new destinations. The COVID-19 had a strong emigration-decreasing effect for women across all age groups with a heterogeneous result for men. It has also negatively affected the flow of remittances. Destination-wise, the UK continued to lose its dominance while Ukraine emerged as a new main destination. On the immigration side, the COVID-19 had a similar impact across the largest age cohorts between sexes, slowing down immigration growth from the main sending countries. Accessible and good-quality healthcare services, a need for a sense of security as well as the new working practices motivated many emigrants to return. However, the process of heading back home had begun before the pandemic. The novelty of the situation limits the scope of literature on the topic. This study addresses the existing research gap on the impact of COVID-19 pandemic on migration using the case of Lithuania.
{"title":"HOW HAS COVID-19 AFFECTED MIGRATION OF LITHUANIAN POPULATION?","authors":"Gindrute Kasnauskiene, Remigijus Kavalnis","doi":"10.52244/ep.2021.22.01","DOIUrl":"https://doi.org/10.52244/ep.2021.22.01","url":null,"abstract":"The paper aims to examine the role of COVID-19 pandemic on the population migration in Lithuania.\u0000A situation analysis using the newest available migration data was deployed. It is found that the COVID-19 was\u0000generally associated with decreased emigration and increased immigration with the main changes occurring on the\u0000emigration side. In addition, women were less prone to migration in time of uncertainty while migrants were more\u0000willing to try out new destinations.\u0000The COVID-19 had a strong emigration-decreasing effect for women across all age groups with a heterogeneous\u0000result for men. It has also negatively affected the flow of remittances. Destination-wise, the UK continued to lose its\u0000dominance while Ukraine emerged as a new main destination.\u0000On the immigration side, the COVID-19 had a similar impact across the largest age cohorts between sexes, slowing\u0000down immigration growth from the main sending countries. Accessible and good-quality healthcare services, a need\u0000for a sense of security as well as the new working practices motivated many emigrants to return. However, the\u0000process of heading back home had begun before the pandemic.\u0000The novelty of the situation limits the scope of literature on the topic. This study addresses the existing research\u0000gap on the impact of COVID-19 pandemic on migration using the case of Lithuania.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127005976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Infection of the new coronavirus (COVID-19) significantly changes the lifestyle of each person in the society and somehow appears as a phenomenon of the 21st century. This phenomenon has put the society not only facing global problems, but it has also become the cause of new innovative approaches, the development and introduction of digital trends. In this regard, it is important to consider the practice and experience of conducting innovative policies by the governing bodies of various developed countries in the modern world. All the countries of the world, including Georgia, are in the process of overcoming the crises caused by the coronavirus in different directions, as the pandemic has created many problems both within the country and internationally, and dealing with them has become a top priority. Examples of foreign countries innovation systems will be cited based on the functioning of various economic indicators, political and institutional mechanisms. In this regard, the article will touch on new, modern innovative approaches introduced in various fields, including health and education systems, and provide a comparative analysis of the innovative technologies introduced and used in the field of public administration in Georgia. Based on the relevant analysis, the article will discuss the indicators that indicate how digital space has increased in the pandemic conditions and the public demand for its use. The article will focus on the initiatives and measures taken by public authorities in Georgia. The paper notes that it is very important to focus on creating and developing tools, that will contribute a stable economy with sustainable and high quality actors, and offer a set of products and services to interested parties and potential beneficiaries, which is focused on helping the innovations and technology oriented entrepreneurs and startups to walk the distance from the idea to the functionality income models, because such kind of products help startups and innovations and technology-oriented entrepreneurs to journey to the market from the idea with less risks and more confident. Also it helps the entities which have already formed income model to gain knowledge, contacts, finances and general possibilities that could radically change their growth rate and the direction line. The paper also notes that the growing demand for digital space and modern technology during the pandemic period has shown that the current approach that the use of innovative and state-of-the-art electronic technologies in public administration is an auxiliary tool for management is erroneous and it is not only an auxiliary but also a key and necessary tool for effective governance for any state or non-governmental institution.
{"title":"THE ROLE OF STATE INNOVATION POLICY IN THE DEVELOPMENT OF ECONOMIC AND POLITICAL SYSTEMS AND CRISIS MANAGEMENT","authors":"Zaza Tsverava, Lasha Tsverava","doi":"10.52244/ep.2021.22.06","DOIUrl":"https://doi.org/10.52244/ep.2021.22.06","url":null,"abstract":"Infection of the new coronavirus (COVID-19) significantly changes the lifestyle of each person in the society and somehow appears as a phenomenon of the 21st century. This phenomenon has put the society not only facing global problems, but it has also become the cause of new innovative approaches, the development and introduction of digital trends. In this regard, it is important to consider the practice and experience of conducting innovative policies by the governing bodies of various developed countries in the modern world.\u0000All the countries of the world, including Georgia, are in the process of overcoming the crises caused by the coronavirus in different directions, as the pandemic has created many problems both within the country and internationally, and dealing with them has become a top priority.\u0000Examples of foreign countries innovation systems will be cited based on the functioning of various economic indicators, political and institutional mechanisms. In this regard, the article will touch on new, modern innovative approaches introduced in various fields, including health and education systems, and provide a comparative analysis of the innovative technologies introduced and used in the field of public administration in Georgia. Based on the relevant analysis, the article will discuss the indicators that indicate how digital space has increased in the pandemic conditions and the public demand for its use. The article will focus on the initiatives and measures taken by public authorities in Georgia.\u0000The paper notes that it is very important to focus on creating and developing tools, that will contribute a stable economy with sustainable and high quality actors, and offer a set of products and services to interested parties and potential beneficiaries, which is focused on helping the innovations and technology oriented entrepreneurs and startups to walk the distance from the idea to the functionality income models, because such kind of products help startups and innovations and technology-oriented entrepreneurs to journey to the market from the idea with less risks and more confident. Also it helps the entities which have already formed income model to gain knowledge, contacts, finances and general possibilities that could radically change their growth rate and the direction line.\u0000The paper also notes that the growing demand for digital space and modern technology during the pandemic period has shown that the current approach that the use of innovative and state-of-the-art electronic technologies in public administration is an auxiliary tool for management is erroneous and it is not only an auxiliary but also a key and necessary tool for effective governance for any state or non-governmental institution.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124478555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Customs system and customs activity is an important economic mechanism for the county, which has to follow current modern global and integrative processes in the world. Customs politics based on the reasonable and scientific principles will give the chance to a government to develop priority fields, deepen political and economic relation with the foreign countries, and help social-economic development of the country. Lack of development of real sector in economic Georgia made as import-dependent country. In the whole unit of commercial circulation amount of import exceeds amount of export almost three time. Local market is full with imported products, which is the result that country depends on the import, but, it is possible to create safe economic conditions for the local producers. For that the country should actively use instruments of customs politics While working on above mentioned topic, studying the problem was implemented by using qualitative and quantitative methods. Research of inner information about the topic was fulfilled in the scope of qualitative research. During quantitative research was processed statistic data. Finally, based on the analysis of result corresponding reports were made. Tasks and forms of implementing customs politics, in many cases, harshly oppose each other. That is why, one of the main task is to balance the opposing principles, for this action it is important that customs politics should be flexible, changeable and compatible with current economic occurrence and processes. On modern stage main direction of Georgian customs politics are characterized as having low import tariffs, by being free from customs tax, having less amount of export and import licenses and by not having other quantitative restrictions. But it described as having important gaps in solving modern economic problems and resisting modern challenges. Unfortunately, real sector of economics in Georgia is not developed. According the existed tendencies main priority for the county’s development is tourism. The result is that absolute majority of the product what the population of the country uses, is imported. Given tendency of correlation between import and export results gives us a chance to say that during past years, Political measurements from the state can not reach the aim. Within other factors, given problem is mainly outlined by the level of technological development and innovation problems. Non-existence of subsidiary infrastructure for development export, causes lack of information about potential export markets and not-enough popularity is Georgian products. Except measures taken for stimulating export, state customs politics should be aimed to broaden country’s exporting markets, to diversify exporting countries and export products main part of the export products for today is raw materials, which has low supplemented cost, its export does not need to activate manufacturing processes and local workmen do not take part in this
{"title":"SOME ASPECTS OF EXCELLENCE OF CUSTOMS POLICY OF GEORGIA","authors":"Aleko Meladze","doi":"10.52244/ep.2021.22.05","DOIUrl":"https://doi.org/10.52244/ep.2021.22.05","url":null,"abstract":"Customs system and customs activity is an important economic mechanism for the county, which has to follow current modern global and integrative processes in the world. Customs politics based on the reasonable and scientific principles will give the chance to a government to develop priority fields, deepen political and economic relation with the foreign countries, and help social-economic development of the country.\u0000Lack of development of real sector in economic Georgia made as import-dependent country. In the whole unit of commercial circulation amount of import exceeds amount of export almost three time. Local market is full with imported products, which is the result that country depends on the import, but, it is possible to create safe economic conditions for the local producers. For that the country should actively use instruments of customs politics \u0000While working on above mentioned topic, studying the problem was implemented by using qualitative and quantitative methods. Research of inner information about the topic was fulfilled in the scope of qualitative research. During quantitative research was processed statistic data. Finally, based on the analysis of result corresponding reports were made. \u0000Tasks and forms of implementing customs politics, in many cases, harshly oppose each other. That is why, one of the main task is to balance the opposing principles, for this action it is important that customs politics should be flexible, changeable and compatible with current economic occurrence and processes. \u0000On modern stage main direction of Georgian customs politics are characterized as having low import tariffs, by being free from customs tax, having less amount of export and import licenses and by not having other quantitative restrictions. But it described as having important gaps in solving modern economic problems and resisting modern challenges. \u0000Unfortunately, real sector of economics in Georgia is not developed. According the existed tendencies main priority for the county’s development is tourism. The result is that absolute majority of the product what the population of the country uses, is imported. \u0000Given tendency of correlation between import and export results gives us a chance to say that during past years, Political measurements from the state can not reach the aim. Within other factors, given problem is mainly outlined by the level of technological development and innovation problems. Non-existence of subsidiary infrastructure for development export, causes lack of information about potential export markets and not-enough popularity is Georgian products.\u0000Except measures taken for stimulating export, state customs politics should be aimed to broaden country’s exporting markets, to diversify exporting countries and export products main part of the export products for today is raw materials, which has low supplemented cost, its export does not need to activate manufacturing processes and local workmen do not take part in this","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122884039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The conduct of monetary policy in the Covid-Pandemic conditions proved to be special, According to numerous experts and organizations, the global economic recession caused by the Covid-Pandemic has equaled the global financial crises. In such conditions, when the world is trying to deal with the virus, it seems that the management of state economic parameters and monetary policy are a secondary category, but in reality, monetary policy makers during this period constantly tried to pursue policies that would stimulate the economy and economic agents, including Georgia. The trend in monetary policy was similar in most countries, taking into account differences in national characteristics However, it should be noted that to date, both Georgia and the world have not emerged from the Covid-Pandemic situation and it is difficult to discuss concrete results, but the existing measures taken since the Covid-Pandemic began give us some basis for analysis. The general trend is, of course, to pursue a more lenient policy, but the timing is relatively different, Georgia's practice in this regard was relatively unpredictable, as it is impossible to pursue a policy of depreciation of money on the one hand, and at the same time have a negative balance of payments and the national currency is constantly devalued. Consequently, these issues were a challenge for Georgia even before the pandemic, and during the pandemic they became more pronounced, meaning an increase in the refinancing rate and maintaining a high level of the national currency exchange rate. Although the measures taken by the National Bank of Georgia during the Covid-Pandemic period are not long-term and should not be considered effective, because neither the interest rates nor the national currency could withstand the main pressure, which will have more negative consequences for the society and the future. For the economy. According to the Organic Law on the National Bank of Georgia, its main task is to ensure price stability. Price stability, in itself, implies maintaining moderate and low levels of inflation. Inflation is the main stimulus that poses the greatest threat to price stability and, consequently, the purchasing power of the national currency. Ensuring price stability is one of the main foundations for the current and promising development of the national economy. This is due to the fact that it implies low levels of inflation, the latter of which determines the purchasing power of the national currency, which is directly reflected in the long-term stable growth of the economy. Stability of the national currency is achieved when the projected inflation is as close as possible to the target, and when these indicators - especially the forecasted inflation - exceed its target level, it is at this point that the monetary policy rate is involved to ensure stability in the economy. The mechanism of its operation is simple, the tightening of the interest rate increases the market interest
{"title":"REFINANCING RATE AND ITS IMPACT ON THE COUNTRY'S ECONOMY IN THE CONTEXT OF THE COVID PANDEMIC","authors":"Ramin Tsinaridze, Lasha Beridze, Levan Tsetskhladze","doi":"10.52244/ep.2021.22.03","DOIUrl":"https://doi.org/10.52244/ep.2021.22.03","url":null,"abstract":"The conduct of monetary policy in the Covid-Pandemic conditions proved to be special, According to numerous experts and organizations, the global economic recession caused by the Covid-Pandemic has equaled the global financial crises. In such conditions, when the world is trying to deal with the virus, it seems that the management of state economic parameters and monetary policy are a secondary category, but in reality, monetary policy makers during this period constantly tried to pursue policies that would stimulate the economy and economic agents, including Georgia.\u0000 The trend in monetary policy was similar in most countries, taking into account differences in national characteristics However, it should be noted that to date, both Georgia and the world have not emerged from the Covid-Pandemic situation and it is difficult to discuss concrete results, but the existing measures taken since the Covid-Pandemic began give us some basis for analysis.\u0000 The general trend is, of course, to pursue a more lenient policy, but the timing is relatively different, Georgia's practice in this regard was relatively unpredictable, as it is impossible to pursue a policy of depreciation of money on the one hand, and at the same time have a negative balance of payments and the national currency is constantly devalued.\u0000 Consequently, these issues were a challenge for Georgia even before the pandemic, and during the pandemic they became more pronounced, meaning an increase in the refinancing rate and maintaining a high level of the national currency exchange rate. Although the measures taken by the National Bank of Georgia during the Covid-Pandemic period are not long-term and should not be considered effective, because neither the interest rates nor the national currency could withstand the main pressure, which will have more negative consequences for the society and the future. For the economy.\u0000According to the Organic Law on the National Bank of Georgia, its main task is to ensure price stability. Price stability, in itself, implies maintaining moderate and low levels of inflation. Inflation is the main stimulus that poses the greatest threat to price stability and, consequently, the purchasing power of the national currency.\u0000Ensuring price stability is one of the main foundations for the current and promising development of the national economy. This is due to the fact that it implies low levels of inflation, the latter of which determines the purchasing power of the national currency, which is directly reflected in the long-term stable growth of the economy.\u0000Stability of the national currency is achieved when the projected inflation is as close as possible to the target, and when these indicators - especially the forecasted inflation - exceed its target level, it is at this point that the monetary policy rate is involved to ensure stability in the economy.\u0000The mechanism of its operation is simple, the tightening of the interest rate increases the market interest ","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131875466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Covid-19 disease has had major consequences around the world for both public health and the real economy. This economic crisis generated by COVID-19 turns out to be different from previous crises in aspects such as the urgency, scope and magnitude of the negative shock on demand and supply. Countries such as El Salvador, Honduras, Guatemala and Nicaragua, located in Central America, which are among the poorest in Latin America implemented anti-Covid-19 measures since March 2020. Such as restricting mobility and temporarily shutting down non-essential economic activities. As a result, households and businesses are facing an economic downturn due to the pandemic, with effects across the supply chain and from the demand side, because customers can't leave. For this analysis, the average impact on the sales of exporting companies will be estimated. The results indicate that all companies experienced a sudden drop-in economic activity. Permanently closed exporting firms accounted for 6% of employment, compared with 1% for all other firms in the domestic market. This is a first review of the effects of Covid-19 mitigation measures on the performance of exporting companies in four Latin American countries. The study uses a longitudinal database to perform a descriptive analysis of company conditions and company survival. A difference model is used to estimate the average impact on the sales of exporting companies. The control variables were the characteristics of the company, as well as whether it was temporarily closed due to Covid-19. The results indicate that all companies experienced a sudden drop-in economic activity. Permanently closed exporting firms accounted for 6% of employment, compared with 1% for all other firms in the domestic market. The estimation model indicates that for businesses that temporarily closed during this period, there was a further 8% reduction in sales. This article contributes to the literature in several aspects. First, the results complement articles investigating the economic impact of COVID-19 by providing quantitative evidence on the pandemic situation in four Central American countries. Second, longitudinal data provides a unique perspective on how companies have been reacting to the pandemic, as they allow us to control a few variables that can alter analysis in other types of structures. Third, I further examine how the impact of the pandemic on businesses varies by country based on ownership structure and other characteristics. With the observed consequences, our results provide information that can help us consider the broader economic implications of the impact of COVID 19, as well as the design of strategies for recovery.
{"title":"IMPACT OF COVID 19 ON THE PERFORMANCE OF CENTRAL AMERICAN EXPORTING COMPANIES: A FIRST REVIEW","authors":"Hector Botello, I. G. Rincon","doi":"10.52244/ep.2021.22.02","DOIUrl":"https://doi.org/10.52244/ep.2021.22.02","url":null,"abstract":"The Covid-19 disease has had major consequences around the world for both public health and the real economy. This economic crisis generated by COVID-19 turns out to be different from previous crises in aspects such as the urgency, scope and magnitude of the negative shock on demand and supply. Countries such as El Salvador, Honduras, Guatemala and Nicaragua, located in Central America, which are among the poorest in Latin America implemented anti-Covid-19 measures since March 2020. Such as restricting mobility and temporarily shutting down non-essential economic activities. As a result, households and businesses are facing an economic downturn due to the pandemic, with effects across the supply chain and from the demand side, because customers can't leave. For this analysis, the average impact on the sales of exporting companies will be estimated. The results indicate that all companies experienced a sudden drop-in economic activity. Permanently closed exporting firms accounted for 6% of employment, compared with 1% for all other firms in the domestic market. This is a first review of the effects of Covid-19 mitigation measures on the performance of exporting companies in four Latin American countries. The study uses a longitudinal database to perform a descriptive analysis of company conditions and company survival. A difference model is used to estimate the average impact on the sales of exporting companies. The control variables were the characteristics of the company, as well as whether it was temporarily closed due to Covid-19. The results indicate that all companies experienced a sudden drop-in economic activity. Permanently closed exporting firms accounted for 6% of employment, compared with 1% for all other firms in the domestic market. The estimation model indicates that for businesses that temporarily closed during this period, there was a further 8% reduction in sales. This article contributes to the literature in several aspects. First, the results complement articles investigating the economic impact of COVID-19 by providing quantitative evidence on the pandemic situation in four Central American countries. Second, longitudinal data provides a unique perspective on how companies have been reacting to the pandemic, as they allow us to control a few variables that can alter analysis in other types of structures. Third, I further examine how the impact of the pandemic on businesses varies by country based on ownership structure and other characteristics. With the observed consequences, our results provide information that can help us consider the broader economic implications of the impact of COVID 19, as well as the design of strategies for recovery.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129792389","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The article looks into the phases of reforming the tax system of Georgia in term of its liberalization. Since the early 2000s, the tax system of Georgia has undergone a significant transformation. There were reduced both the number of taxes and tax rates. Anti-corruption measures were taken, the legal framework was improved, and tax services were changed over to e-services. Tax administration was considerably simplified, but also at the same time was strengthened. The level of fiscal discipline was increased. As a result, despite the seeming release of tax pressure, tax revenues for the treasury were increased manifold. It is clear that success of tax liberalization at this stage of the reform was largely due to the reform of the tax administration system. Higher fines were imposed for violators of tax discipline, which was reflected in severe tightening of tax administration due to the disruption of the corruption environment. A positive link was confirmed between tax liberalization measures and streamlining of the tax administration system in terms of successful tax reform. A number of innovations have been introduced, including: simplified and mostly electronic-automated service procedures, special tax statuses for small and micro entrepreneurs, the so-called "Estonian" model of the taxation of enterprises, the possibility of concluding a tax agreement, a warning mechanism as an alternative to monetary penalties, and so on. It should be noted that over the years, measures to relief, forgive or partially reduce tax debts accumulated in previous periods have become an accompanying and distinctive attribute of the significant ongoing reforms in the tax system. This process has become particularly large-scale since 2015. Just in 2015-2019, more than 68 billion taxpayers owed more than 3.5 billion GEL in terms of both basic taxes and fines. We believe that the unambiguously positive assessment of these large-scale measures for debt relief would not be correct. Of course, such measures relieve the tax administration system of the burden of recovering uncollectible debts. The International Monetary Fund and other donor organizations also require and welcome this. The advantages of this process, as well as related risks and possible threats are being discussed. It is noted that consistent use of such mechanisms leads to long-term negative fiscal consequences, as it undermines tax morality of taxpayers and prevents the introduction of a culture of tax compliance. The tax amnesties, especially if they are recurrent, encourage an anti-competitive environment and generate a sense of unfairness among conscious taxpayers. Destructive expectations are created, which leads to the transformation of the taxpayer behavior model in the wrong direction. These trends are evident in the case of Georgia according to statistical data. We believe that the final result of the tax reforms will depend to a great degree on the ability of the tax administration system and
{"title":"ON SOME PROBLEM ISSUES RELATED TO LIBERALIZATION OF THE TAX SYSTEM IN GEORGIA","authors":"Guram Uphlisashvili","doi":"10.52244/EP.2021.21.04","DOIUrl":"https://doi.org/10.52244/EP.2021.21.04","url":null,"abstract":"The article looks into the phases of reforming the tax system of Georgia in term of its liberalization. Since the early 2000s, the tax system of Georgia has undergone a significant transformation. There were reduced both the number of taxes and tax rates. Anti-corruption measures were taken, the legal framework was improved, and tax services were changed over to e-services. Tax administration was considerably simplified, but also at the same time was strengthened. The level of fiscal discipline was increased. As a result, despite the seeming release of tax pressure, tax revenues for the treasury were increased manifold. \u0000It is clear that success of tax liberalization at this stage of the reform was largely due to the reform of the tax administration system. Higher fines were imposed for violators of tax discipline, which was reflected in severe tightening of tax administration due to the disruption of the corruption environment. A positive link was confirmed between tax liberalization measures and streamlining of the tax administration system in terms of successful tax reform.\u0000A number of innovations have been introduced, including: simplified and mostly electronic-automated service procedures, special tax statuses for small and micro entrepreneurs, the so-called \"Estonian\" model of the taxation of enterprises, the possibility of concluding a tax agreement, a warning mechanism as an alternative to monetary penalties, and so on.\u0000It should be noted that over the years, measures to relief, forgive or partially reduce tax debts accumulated in previous periods have become an accompanying and distinctive attribute of the significant ongoing reforms in the tax system. This process has become particularly large-scale since 2015. Just in 2015-2019, more than 68 billion taxpayers owed more than 3.5 billion GEL in terms of both basic taxes and fines.\u0000We believe that the unambiguously positive assessment of these large-scale measures for debt relief would not be correct. Of course, such measures relieve the tax administration system of the burden of recovering uncollectible debts. The International Monetary Fund and other donor organizations also require and welcome this.\u0000The advantages of this process, as well as related risks and possible threats are being discussed. It is noted that consistent use of such mechanisms leads to long-term negative fiscal consequences, as it undermines tax morality of taxpayers and prevents the introduction of a culture of tax compliance.\u0000The tax amnesties, especially if they are recurrent, encourage an anti-competitive environment and generate a sense of unfairness among conscious taxpayers. Destructive expectations are created, which leads to the transformation of the taxpayer behavior model in the wrong direction. These trends are evident in the case of Georgia according to statistical data.\u0000We believe that the final result of the tax reforms will depend to a great degree on the ability of the tax administration system and ","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114310006","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The intensive growth of industrial processes and transport in cities is directly related to environmental pollution, which is manifested by an increase in the amount of emissions from vehicles and an increase in the concentration of aerosols in the atmosphere. The dynamics of this process depends on many different factors, in particular, the state of atmospheric stratification, wind direction, speed and more. The main source of air pollution in Kutaisi is road transport - more than 90 percent of total air pollution emissions come from road transport. The emission of large amounts of pollutants from vehicles is due to many factors, including improper organization and management of traffic, low fuel quality, catalytic converter malfunctions, and the age of vehicles. The number of passenger cars in Kutaisi is growing, for example, according to the years. In Kutaisi in 2014 -38929, 2015 -47668, according to global trends, if we do not take into account possible changes in policy, we can assume that car ownership will double in the next ten years. According to the data conducted by the National Environment Agency on air pollution in Kutaisi in November 2018, the maximum single concentration of dust exceeded the maximum allowable norm by 2.4 times (4.2 times as of December), and the other components: carbon dioxide, sulfur dioxide, sulfur Also the maximum single concentrations of nitric oxide were within the norm. There have been up to a million cars across the country in recent years, according to this year’s data. 49273 cars (cars, buses, trucks) are registered in Kutaisi. The main part of the increased car fleet in Kutaisi is outdated and does not meet international technical and environmental requirements. Most of the registered cars were produced before 2002. According to the Service Agency of the Ministry of Internal Affairs, the issue amounts to 22,628 units over 20 years old, 11,737 units from 10 to 15 years old, and 387 units under 5 years old. It should be noted that st. Kutaisi has introduced municipal transport, namely buses, based on their ecological passport data, we can assume that air pollution will be minimized, which will contribute to sustainable development of the city, in particular, improving the ecological situation will increase the socio-economic situation. Their economic sustainability will improve and the welfare level will rise, sustainable transport will improve the economy of transport users, as you know, municipal transport is much cheaper compared to other service transport. We have mentioned that the emissions of harmful substances by the new buses are less. The buses were currently out of order due to regulations imposed during the pandemic period, thus increasing the number of light vehicles, their excessive number, thus affecting the air quality composition. The author has made a comparative analysis between the harmful substances emitted by the municipal transport in the previous years and the substances emitted by
{"title":"ENVIRONMENTAL SUSTAINABILITY OF TRANSPORT AS A COMPONENT OF ECONOMIC STABILITY (ON THE EXAMPLE OF KUTAISI)","authors":"Darejan Chkhirodze","doi":"10.52244/EP.2021.21.07","DOIUrl":"https://doi.org/10.52244/EP.2021.21.07","url":null,"abstract":"The intensive growth of industrial processes and transport in cities is directly related to environmental pollution, which is manifested by an increase in the amount of emissions from vehicles and an increase in the concentration of aerosols in the atmosphere. The dynamics of this process depends on many different factors, in particular, the state of atmospheric stratification, wind direction, speed and more.\u0000The main source of air pollution in Kutaisi is road transport - more than 90 percent of total air pollution emissions come from road transport. The emission of large amounts of pollutants from vehicles is due to many factors, including improper organization and management of traffic, low fuel quality, catalytic converter malfunctions, and the age of vehicles.\u0000The number of passenger cars in Kutaisi is growing, for example, according to the years. In Kutaisi in 2014 -38929, 2015 -47668, according to global trends, if we do not take into account possible changes in policy, we can assume that car ownership will double in the next ten years.\u0000According to the data conducted by the National Environment Agency on air pollution in Kutaisi in November 2018, the maximum single concentration of dust exceeded the maximum allowable norm by 2.4 times (4.2 times as of December), and the other components: carbon dioxide, sulfur dioxide, sulfur Also the maximum single concentrations of nitric oxide were within the norm. There have been up to a million cars across the country in recent years, according to this year’s data. 49273 cars (cars, buses, trucks) are registered in Kutaisi. The main part of the increased car fleet in Kutaisi is outdated and does not meet international technical and environmental requirements. Most of the registered cars were produced before 2002. According to the Service Agency of the Ministry of Internal Affairs, the issue amounts to 22,628 units over 20 years old, 11,737 units from 10 to 15 years old, and 387 units under 5 years old.\u0000It should be noted that st. Kutaisi has introduced municipal transport, namely buses, based on their ecological passport data, we can assume that air pollution will be minimized, which will contribute to sustainable development of the city, in particular, improving the ecological situation will increase the socio-economic situation. \u0000Their economic sustainability will improve and the welfare level will rise, sustainable transport will improve the economy of transport users, as you know, municipal transport is much cheaper compared to other service transport. We have mentioned that the emissions of harmful substances by the new buses are less.\u0000The buses were currently out of order due to regulations imposed during the pandemic period, thus increasing the number of light vehicles, their excessive number, thus affecting the air quality composition.\u0000The author has made a comparative analysis between the harmful substances emitted by the municipal transport in the previous years and the substances emitted by","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"127 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134414566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The existence of pension schemes does not count for a long period, but its obligation has been historically proven, as the experience of countries has shown that the countries that have the best practices provide better social protection of the population when retiring. The article discusses the redistribution of pension assets worldwide, pragmatically and theoretically evaluating the pros and cons of retirement plans. The implementation of the pension reform in Georgia has been delayed many times due to the socio-economic situation, accompanied by the psychological attitude of the population towards distrust of the state. Georgia is on the path to European integration, where one of the most important requirements is the proper protection and social equalization of the socially vulnerable, while the existence of pension schemes ensures the accumulation of large amounts of funds, which can play an important role in capital and financial markets. The advantages of the existence of pension schemes may be reflected in the permanent increase of the equalization ratio, but it should be noted that at such times the macroeconomic indicators of the state should be relatively stable, such as inflation, stability of the national currency and others. As of today, the tasks set before the Pension Agency in Georgia are quite ambitious and require effective management, as the pension reform takes only a few years.In the social security system of the population, the pension is a mechanism for maintaining a stable material condition during the period of disability. Following in the footsteps of the development of mankind, pension systems were improved, the main purpose of which was to replace the average income per capita during the working period in a way that would not worsen living conditions. Therefore, the pension replacement rate has become a measure of the evaluation of the pension system of a country. The replacement rate in the pension systems of developed countries is in the range of 60-80%, in developing countries it is 15-30%, which is systematically subject to adjustment. Georgia, despite the normal rate of economic growth in the last decade, is not distinguished by a pension provision mechanism. From the day of independence, the state basic pension was periodically subject to changes. The change, however, was related not so much to the approach to the subsistence level as to the subsequent promises of a change of government. At the present stage, the pension system is in the process of modification, which aims to ensure adequate pension income, fiscal sustainability of pension expenditures and a more effective response to demographic changes in the population. Developing and developing countries are trying to equalize the time of retirement of the population, which is often difficult to achieve and requires both economic and political decisions, because the financing of social security from the state budget requires large expenditures. Which can oft
{"title":"PENSION REFORM - GOALS AND ESTIMATED RESULTS","authors":"Lasha Beridze, G. Abuselidze","doi":"10.52244/EP.2021.21.05","DOIUrl":"https://doi.org/10.52244/EP.2021.21.05","url":null,"abstract":"The existence of pension schemes does not count for a long period, but its obligation has been historically proven, as the experience of countries has shown that the countries that have the best practices provide better social protection of the population when retiring. The article discusses the redistribution of pension assets worldwide, pragmatically and theoretically evaluating the pros and cons of retirement plans.\u0000The implementation of the pension reform in Georgia has been delayed many times due to the socio-economic situation, accompanied by the psychological attitude of the population towards distrust of the state. Georgia is on the path to European integration, where one of the most important requirements is the proper protection and social equalization of the socially vulnerable, while the existence of pension schemes ensures the accumulation of large amounts of funds, which can play an important role in capital and financial markets.\u0000The advantages of the existence of pension schemes may be reflected in the permanent increase of the equalization ratio, but it should be noted that at such times the macroeconomic indicators of the state should be relatively stable, such as inflation, stability of the national currency and others.\u0000As of today, the tasks set before the Pension Agency in Georgia are quite ambitious and require effective management, as the pension reform takes only a few years.In the social security system of the population, the pension is a mechanism for maintaining a stable material condition during the period of disability. Following in the footsteps of the development of mankind, pension systems were improved, the main purpose of which was to replace the average income per capita during the working period in a way that would not worsen living conditions. Therefore, the pension replacement rate has become a measure of the evaluation of the pension system of a country. The replacement rate in the pension systems of developed countries is in the range of 60-80%, in developing countries it is 15-30%, which is systematically subject to adjustment.\u0000Georgia, despite the normal rate of economic growth in the last decade, is not distinguished by a pension provision mechanism.\u0000From the day of independence, the state basic pension was periodically subject to changes. The change, however, was related not so much to the approach to the subsistence level as to the subsequent promises of a change of government.\u0000At the present stage, the pension system is in the process of modification, which aims to ensure adequate pension income, fiscal sustainability of pension expenditures and a more effective response to demographic changes in the population.\u0000Developing and developing countries are trying to equalize the time of retirement of the population, which is often difficult to achieve and requires both economic and political decisions, because the financing of social security from the state budget requires large expenditures. Which can oft","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"104 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127143105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：