In Georgia, the insurance industry has been developing since 1997, since the establishment of insurance development strategy by the state, the LEPL State Insurance Supervision Service, the main insurance regulation law on insurance, normative and sub-legal acts have been developed, and an important place has been given to insurance relations in Georgian civil, air, marine and customs code. Several types of compulsory insurance have been introduced. Over time, with the realization of the benefits of insurance by the public and private business, there has been a growing demand for the various types of insurance offered by private insurance companies. Including types of personal insurance, property and financial risk insurance. There was also some demand for various liability insurance in both the corporate and retail markets. Nevertheless, judging by the statistics of the Georgian insurance market from 2008 to 2018, we will see that liability insurance is less prominent. Leading among the types of insurance are types of insurance such as medical insurance, auto insurance, property and life insurance. Liability insurance ranks sixth and seventh, both in terms of premiums attracted and policies issued. Liability insurance is less in demand today and is preceded by types of insurance such as medical insurance, motor insurance, property and life insurance. The separation of the type of liability insurance and the importance of its development is due to the fact that it is impossible to attribute it to property or personal insurance. If the object of property insurance is the property of a natural or legal person, and the property of a person - human life, health and ability to work, then the object of liability insurance is the liability of the insured (insured) for damage to a third party in accordance with law or contractual obligations. Therefore, the aim of the paper is to reflect to some extent the problems of liability insurance development in Georgia and to offer recommendations for their solution.
格鲁吉亚的保险业自1997年开始发展，自国家制定保险发展战略以来，国家保险监督服务局(LEPL state insurance Supervision Service)制定了主要的保险监管法律、保险规范性和分法律行为，保险关系在格鲁吉亚民航法、海运法和海关法中占有重要地位。引入了几种类型的强制保险。随着时间的推移，随着公共和私营企业意识到保险的好处，对私营保险公司提供的各种保险的需求不断增长。包括人身保险、财产保险和金融风险保险的种类。企业和零售市场对各种责任保险也有一些需求。然而，从2008年至2018年格鲁吉亚保险市场的统计数据来看，我们将看到责任保险的地位不那么突出。保险种类中最主要的是医疗保险、汽车保险、财产保险和人寿保险。责任保险在吸引保费和签发保单方面分别排名第六和第七。责任保险在今天的需求较少，之前的保险类型，如医疗保险，汽车保险，财产和人寿保险。责任保险类型的分离及其发展的重要性是由于不可能将其归因于财产或人身保险。如果财产保险的对象是自然人或法人的财产，以及人的财产——人的生命、健康和工作能力，则责任保险的对象是被保险人(被保险人)根据法律或合同义务对第三人造成损害的责任。因此，本文的目的是在一定程度上反映格鲁吉亚责任保险发展的问题，并提出解决这些问题的建议。
{"title":"DEVELOPMENT OF «LIABILITY INSURANCE» IN GEORGIA FOR THE LAST 10 YEARS» (OVERVIEW OF 2008 - 2018)","authors":"Roland Bregvadze","doi":"10.52244/EP.2020.20.07","DOIUrl":"https://doi.org/10.52244/EP.2020.20.07","url":null,"abstract":"In Georgia, the insurance industry has been developing since 1997, since the establishment of insurance development strategy by the state, the LEPL State Insurance Supervision Service, the main insurance regulation law on insurance, normative and sub-legal acts have been developed, and an important place has been given to insurance relations in Georgian civil, air, marine and customs code. Several types of compulsory insurance have been introduced.\u0000Over time, with the realization of the benefits of insurance by the public and private business, there has been a growing demand for the various types of insurance offered by private insurance companies. Including types of personal insurance, property and financial risk insurance. There was also some demand for various liability insurance in both the corporate and retail markets.\u0000Nevertheless, judging by the statistics of the Georgian insurance market from 2008 to 2018, we will see that liability insurance is less prominent. Leading among the types of insurance are types of insurance such as medical insurance, auto insurance, property and life insurance. Liability insurance ranks sixth and seventh, both in terms of premiums attracted and policies issued.\u0000Liability insurance is less in demand today and is preceded by types of insurance such as medical insurance, motor insurance, property and life insurance.\u0000The separation of the type of liability insurance and the importance of its development is due to the fact that it is impossible to attribute it to property or personal insurance. If the object of property insurance is the property of a natural or legal person, and the property of a person - human life, health and ability to work, then the object of liability insurance is the liability of the insured (insured) for damage to a third party in accordance with law or contractual obligations.\u0000Therefore, the aim of the paper is to reflect to some extent the problems of liability insurance development in Georgia and to offer recommendations for their solution.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130573936","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}
Public procurement plays an important role in shaping GDP and it acts as a catalyst for the economy and business as a whole. The role of public procurement is especially growing during crises. The current situation around the world does not meet reliable expectations, therefore, in such a case, the business stops the movement of capital within the increased risk, both locally and internationally. At the same time, ensuring the transparency of public procurement and adapting to international standards is of particular importance for Georgia on the path to European integration. The effectiveness of public procurement is assessed by various factors, at the present stage, mainly economically efficient public procurement is distinguished, as well as procurements focused on innovation and care for the environment.
{"title":"IMPACT OF PUBLIC PROCUREMENT ON STIMULATING BUSINESS ACTIVITIES AND ECONOMIC DEVELOPMENT","authors":"G. Abuselidze, Lasha Beridze","doi":"10.52244/EP.2020.20.09","DOIUrl":"https://doi.org/10.52244/EP.2020.20.09","url":null,"abstract":"Public procurement plays an important role in shaping GDP and it acts as a catalyst for the economy and business as a whole. The role of public procurement is especially growing during crises. The current situation around the world does not meet reliable expectations, therefore, in such a case, the business stops the movement of capital within the increased risk, both locally and internationally. At the same time, ensuring the transparency of public procurement and adapting to international standards is of particular importance for Georgia on the path to European integration. The effectiveness of public procurement is assessed by various factors, at the present stage, mainly economically efficient public procurement is distinguished, as well as procurements focused on innovation and care for the environment.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134213527","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}
Economy of the country represents the combination of resident institutional units (IU). A sector is created by grouping homogeneous institutional units. The household sector seems to be of great importance in the IU classification. Household as the main economic cell of a society is a group of people who are subject to common rules of cohabitation in one dwelling unit and are related to each other by a common budget (part of it), kinship and / or non-kinship relations, or both together. The household sector differs significantly from other sectors in its functions and behavior.Households are both producers and consumers.However, in most cases, the scale of their production is small and includes activities necessary for their existence.Households are also involved in the accumulation process.The study of the household as the most important institutional sector is carried out by the National Statistics Office.The most important source for the study of the socio-economic situation of the population of the country is the material obtained from this study. It is a specially organized selective statistical observation, based on the data of which the size of the consumer basket of goods and services and the population are determined by a number of social characteristics. The Household survey provides important statistical information on employment, agriculture, income-expenditure and livelihoods as a whole.It reflects the types and volume of income of the population from employment, assistance, pensions, gifts, dividends, loans, and etc. As a result expenses and their volume for housing, utilities, purchase of furniture, clothes and shoes, heating, health care, transport, food, local care in terms of agriculture and livestock, as well as revenues from the sale of livestock products have been also described in details. According to official statistics, the income declared by households is constantly increasing in dynamics. The average monthly income of one household for 2019 was 1175.3 GEL, which is 382.2 GEL or 48% higher than the same indicator in 2012. While the average monthly income per capita increased from 222.2 GEL to 336.1 GEL. Revenues from hired labor are still characterized by a high share in the income structure. The share of the latter in cash revenues and transfers is 48.7%, while in total revenues it is 45.5%. It is important to note that income from hired labor in the 2012-2019 analysis period has almost doubled. But it must be said that the purchasing power of doubled wages amid the depreciation of the lari is so low that households today consume far fewer consumer goods and services than in 2012. It is also noteworthy that remittances from abroad have increased, which is also an indicator of the depreciation of the lari and the growth of external migration processes. As for the income from the sale of property is reduced by 3.7 times, which indicates that the population due to poverty and unemployment has exhausted the sale of property
{"title":"HOUSEHOLD - AN IMPORTANT INSTITUTIONAL UNIT","authors":"Naira Virsaladze","doi":"10.52244/EP.2020.20.11","DOIUrl":"https://doi.org/10.52244/EP.2020.20.11","url":null,"abstract":"Economy of the country represents the combination of resident institutional units (IU). A sector is created by grouping homogeneous institutional units. The household sector seems to be of great importance in the IU classification. Household as the main economic cell of a society is a group of people who are subject to common rules of cohabitation in one dwelling unit and are related to each other by a common budget (part of it), kinship and / or non-kinship relations, or both together.\u0000The household sector differs significantly from other sectors in its functions and behavior.Households are both producers and consumers.However, in most cases, the scale of their production is small and includes activities necessary for their existence.Households are also involved in the accumulation process.The study of the household as the most important institutional sector is carried out by the National Statistics Office.The most important source for the study of the socio-economic situation of the population of the country is the material obtained from this study. It is a specially organized selective statistical observation, based on the data of which the size of the consumer basket of goods and services and the population are determined by a number of social characteristics.\u0000The Household survey provides important statistical information on employment, agriculture, income-expenditure and livelihoods as a whole.It reflects the types and volume of income of the population from employment, assistance, pensions, gifts, dividends, loans, and etc. As a result expenses and their volume for housing, utilities, purchase of furniture, clothes and shoes, heating, health care, transport, food, local care in terms of agriculture and livestock, as well as revenues from the sale of livestock products have been also described in details.\u0000According to official statistics, the income declared by households is constantly increasing in dynamics. The average monthly income of one household for 2019 was 1175.3 GEL, which is 382.2 GEL or 48% higher than the same indicator in 2012. While the average monthly income per capita increased from 222.2 GEL to 336.1 GEL. Revenues from hired labor are still characterized by a high share in the income structure. The share of the latter in cash revenues and transfers is 48.7%, while in total revenues it is 45.5%. It is important to note that income from hired labor in the 2012-2019 analysis period has almost doubled. But it must be said that the purchasing power of doubled wages amid the depreciation of the lari is so low that households today consume far fewer consumer goods and services than in 2012. It is also noteworthy that remittances from abroad have increased, which is also an indicator of the depreciation of the lari and the growth of external migration processes. As for the income from the sale of property is reduced by 3.7 times, which indicates that the population due to poverty and unemployment has exhausted the sale of property","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125210465","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 modern fast-paced era, characterized by sudden changes in various processes, these changes can be both positive and negative. In this case we are dealing with a pandemic like COVID-19. The COVID-19 pandemic has hit the world hard, shutting down giants, locking most of the world's population at homes, "resting the environment", people using less transport, reducing the atmosphere, emitting pollutants, diversifying, clearing the sky, clearing the water and oxygen-loving fauna has spread. The process of overcoming the coronavirus crisis is a chance to achieve a dual effect - to stimulate economies - to create new jobs and at the same time accelerate greenery - to start a new design and revitalize a sustainable, inclusive economy and industry, to maintain vital biodiversity and biodiversity 50-55% reduction compared to 1990 by 2030. The European Green Agreement investment plan covers areas such as: sustainable mobility, renewable energy, building renovation, research and innovation, biodiversity restoration, circular economics. The Green Pact is a guide to the right decisions to respond to the economic crisis and transform Europe into a sustainable and climate-neutral economy. The impact of the pandemic on the environment in particular the pandemic and post-pandemic environment is interesting. The COVID-19 pandemic has hit the world hard, shutting down giants, locking up most of the world's population in their homes, resting the environment, using less transport, reducing emissions, making the sky more diverse, brighter and more transparent. The water was purified, oxygen increased, and oxygen-loving fauna has spared; In the spring of 2020, the water in the canals of Venice became so rich in oxygen and transparent that fish appeared on the bottom, Pisces, it was in Italy that the quarantine rules were introduced, reduced the flow of tourists in accordance with its accompanying actions. The work of industrial enterprises in the world has decreased, the cessation of Chinese industry of the world's largest polluter has drastically breathed the environment, people have seen the clear sky. According to the Energy and Clean Air Research Center during the pandemic, CO2 emissions from air in China fell by 25% (from February 3 to March 1) due to anti-pandemic measures. , Reduce production volume and restrict transportation. It is known that 30% of world CO2 emissions come from China. The number of "clean days" has increased Humans rudely interfere with the functioning of the natural environment and often lead to imbalances and deteriorating environmental sustainability! Deforestation and wildfires, a clear example of which is the devastating forest fires in Brazil. (These forests accounted for 20% of the world's oxygen balance). The European Green Agreement investment plan covers areas such as: sustainable mobility, renewable energy, building renovation, research and innovation, biodiversity restoration, circular economy. The Green Agreement is a guide to
{"title":"ECOLOGICAL SUSTAINABILITY OF PANDEMIC AND POST-PANDEMIC ENVIRONMENTS","authors":"Darejan Chkhirodze","doi":"10.52244/EP.2020.20.03","DOIUrl":"https://doi.org/10.52244/EP.2020.20.03","url":null,"abstract":"The modern fast-paced era, characterized by sudden changes in various processes, these changes can be both positive and negative. In this case we are dealing with a pandemic like COVID-19. The COVID-19 pandemic has hit the world hard, shutting down giants, locking most of the world's population at homes, \"resting the environment\", people using less transport, reducing the atmosphere, emitting pollutants, diversifying, clearing the sky, clearing the water and oxygen-loving fauna has spread.\u0000The process of overcoming the coronavirus crisis is a chance to achieve a dual effect - to stimulate economies - to create new jobs and at the same time accelerate greenery - to start a new design and revitalize a sustainable, inclusive economy and industry, to maintain vital biodiversity and biodiversity 50-55% reduction compared to 1990 by 2030. The European Green Agreement investment plan covers areas such as: sustainable mobility, renewable energy, building renovation, research and innovation, biodiversity restoration, circular economics. The Green Pact is a guide to the right decisions to respond to the economic crisis and transform Europe into a sustainable and climate-neutral economy.\u0000The impact of the pandemic on the environment in particular the pandemic and post-pandemic environment is interesting. The COVID-19 pandemic has hit the world hard, shutting down giants, locking up most of the world's population in their homes, resting the environment, using less transport, reducing emissions, making the sky more diverse, brighter and more transparent. The water was purified, oxygen increased, and oxygen-loving fauna has spared; In the spring of 2020, the water in the canals of Venice became so rich in oxygen and transparent that fish appeared on the bottom, Pisces, it was in Italy that the quarantine rules were introduced, reduced the flow of tourists in accordance with its accompanying actions.\u0000The work of industrial enterprises in the world has decreased, the cessation of Chinese industry of the world's largest polluter has drastically breathed the environment, people have seen the clear sky.\u0000According to the Energy and Clean Air Research Center during the pandemic, CO2 emissions from air in China fell by 25% (from February 3 to March 1) due to anti-pandemic measures. , Reduce production volume and restrict transportation. It is known that 30% of world CO2 emissions come from China. The number of \"clean days\" has increased\u0000Humans rudely interfere with the functioning of the natural environment and often lead to imbalances and deteriorating environmental sustainability! Deforestation and wildfires, a clear example of which is the devastating forest fires in Brazil. (These forests accounted for 20% of the world's oxygen balance).\u0000The European Green Agreement investment plan covers areas such as: sustainable mobility, renewable energy, building renovation, research and innovation, biodiversity restoration, circular economy. The Green Agreement is a guide to","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129673153","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 coronavirus has caused an economic crisis not only directly in the tourism sector, but also in areas directly and indirectly related to it. Capital turnover decreased from 2089.1 million to 690.1 million compared to the previous 2019. In February 2020 alone, the number of international tourists decreased by 0.7% compared to the same period last year. The decrease in tourists was reflected in the restaurant business, the turnover of shopping facilities, etc. Compared to 2019, the number of employees in hotels and restaurants alone has decreased by more than 18 thousand people. A significant decrease was also observed in the Imereti region. Corona virus COVID-19 poses a significant threat to both the global and regional economies. Today, the negative impact of the pandemic on the world economy has become irreversible. It is impossible to make an accurate forecast in today’s rapidly changing environment. The first case of kovidivirus in Georgia was detected on February 26, 2020, and already in March the visible effects of the pandemic began to be detected: Increased demands on products; The inevitable rise in unemployment; Reduction of international remittances; A sharp decrease in the flow of foreign tourists, etc. Recently, tourism has become one of the leading sectors of our country's economy, accounting for 11% of Georgia's GDP. The number of visitors in 2019 exceeded 9.3 million, which was 7.8% more than in the previous 2018, the increase was visible every year. With this in mind, the number of visitors was expected to increase to 10 million by 2020. The coronavirus has dealt one of the biggest blows to world tourism and caused an economic crisis. Georgia is no exception. The aim of our paper is to determine based on a comparative analysis of statistical materials provided by Geostat, the Agency of Protected Areas and the National Tourism Administration how much the Covid virus has changed the expected results in the tourism sector as a whole in the country and in the Imereti region. COVID-19 has had the most negative impact on the tourism industry precisely because of closed borders and fears of travel. According to the analysis of the World Tourism Organization (UNWTO), which considers the SARS scenario of the pandemic in 2003 as a potential model, world tourism should expect a 1-3% decrease in visitors, while according to the forecast made in 2019, the number of visitors in 2020 is 3-4% Should increase global tourism to a total loss of $ 30-50 billion (UNCTAD, 2020: 9.03). The global tourism crisis has had a big impact on Georgia as well, already in February 2020 the number of international tourists decreased by 0.7% compared to the same period last year. However, during the same period, there was a certain increase in some countries, in particular, a 161.5% increase was observed in tourists from Estonia in February. Significant increase in tourist flow was also observed from other EU countries: Poland - 84.8%. Italy - 81.2
{"title":"COVID-19 IMPACT ON THE GEORGIAN TOURISM SECTOR","authors":"T. Davituliani","doi":"10.52244/EP.2020.20.05","DOIUrl":"https://doi.org/10.52244/EP.2020.20.05","url":null,"abstract":"The coronavirus has caused an economic crisis not only directly in the tourism sector, but also in areas directly and indirectly related to it. Capital turnover decreased from 2089.1 million to 690.1 million compared to the previous 2019. In February 2020 alone, the number of international tourists decreased by 0.7% compared to the same period last year. The decrease in tourists was reflected in the restaurant business, the turnover of shopping facilities, etc. Compared to 2019, the number of employees in hotels and restaurants alone has decreased by more than 18 thousand people. A significant decrease was also observed in the Imereti region.\u0000 Corona virus COVID-19 poses a significant threat to both the global and regional economies. Today, the negative impact of the pandemic on the world economy has become irreversible. It is impossible to make an accurate forecast in today’s rapidly changing environment.\u0000 The first case of kovidivirus in Georgia was detected on February 26, 2020, and already in March the visible effects of the pandemic began to be detected:\u0000 Increased demands on products;\u0000 The inevitable rise in unemployment;\u0000 Reduction of international remittances;\u0000 A sharp decrease in the flow of foreign tourists, etc.\u0000 Recently, tourism has become one of the leading sectors of our country's economy, accounting for 11% of Georgia's GDP. The number of visitors in 2019 exceeded 9.3 million, which was 7.8% more than in the previous 2018, the increase was visible every year. With this in mind, the number of visitors was expected to increase to 10 million by 2020.\u0000 The coronavirus has dealt one of the biggest blows to world tourism and caused an economic crisis. Georgia is no exception. The aim of our paper is to determine based on a comparative analysis of statistical materials provided by Geostat, the Agency of Protected Areas and the National Tourism Administration how much the Covid virus has changed the expected results in the tourism sector as a whole in the country and in the Imereti region.\u0000 COVID-19 has had the most negative impact on the tourism industry precisely because of closed borders and fears of travel. According to the analysis of the World Tourism Organization (UNWTO), which considers the SARS scenario of the pandemic in 2003 as a potential model, world tourism should expect a 1-3% decrease in visitors, while according to the forecast made in 2019, the number of visitors in 2020 is 3-4% Should increase global tourism to a total loss of $ 30-50 billion (UNCTAD, 2020: 9.03).\u0000 The global tourism crisis has had a big impact on Georgia as well, already in February 2020 the number of international tourists decreased by 0.7% compared to the same period last year. However, during the same period, there was a certain increase in some countries, in particular, a 161.5% increase was observed in tourists from Estonia in February. Significant increase in tourist flow was also observed from other EU countries: Poland - 84.8%. Italy - 81.2","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"310 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122781329","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}
A market economy is based on economic freedom, which is revealed in freedom of choice. Choice is the main precondition for competition, and competition is the main driving force of economic development. Economic freedom contributes to the development of the economy of country and the well-being of the population the country depends on it. The International Heritage Foundation has been conducting annual surveys since 1995 on the fulfillment of these conditions in 180 countries around the world, including Georgia. The index of economic freedom in Georgia changes every year. A country is considered economically free if it does not restrict individual choice, voluntary exchange, freedom of competition. A necessary condition is the protection of private property. In an economically free society, every person has the full right, at his own discretion and in the conditions of free choice, to achieve his own goals, the state does not interfere in its activities and choices. It should be noted that economic freedom does not mean economic independence. At the present stage of society's development, the economic activities of any economic entity are so intertwined, so dynamic and in-depth, that the notion of economic independence sounds more an anachronistic than a 21st-century achievement.This applies to relations between countries, as well as relations between individuals and legal entities. Economic freedom means, above all, freedom of choice. Index of Economic Freedom (Economic Freedom of the World) is a measure of economic freedom compiled by the Heritage Foundation, a leading center for American policy research and ,,The Wall Street Journal“ . This index has been established since 1995.The world rating of "economic freedom" has a great importance in terms of further attracting investment in the country. The Index of Economic Freedom is based on ten criteria. These are: freedom of business, freedom of trade, fiscal freedom, government costs, monetary freedom, freedom of investment, financial freedom, property rights, freedom from corruption, freedom of labor. The information on the results of survey of the Heritage Foundation "Economic Freedom Index" 2020 is posted on the official website of the Ministry of Economy and Sustainable Development of Georgia, according to the survey 2020 of the "Heritage Foundation" Index of Economic Freedom " rating score of Georgia reached a historical maximum - 77.1 points, it was promoted by 4 positions in the world ranking and took the 12th position. Compared to the previous year, Georgia was promoted by 2 positions in the European region - with this result Georgia is in the 6th place among 45 countries in the European region with the status of "mostly free". Total score ofGeorgia exceeds both the regional (69.8 points) and the world average point (61.6 points). In our view, property rights are crucial in this large system of valuation. In terms of private ownership, the benefit or loss is the property of the owner,
{"title":"THE PLACE OF ECONOMIC FREEDOM IN THE ECONOMIC POLICY OF THE COUNTRY","authors":"N. Orjonikidze","doi":"10.52244/EP.2020.20.06","DOIUrl":"https://doi.org/10.52244/EP.2020.20.06","url":null,"abstract":"A market economy is based on economic freedom, which is revealed in freedom of choice. Choice is the main precondition for competition, and competition is the main driving force of economic development. Economic freedom contributes to the development of the economy of country and the well-being of the population the country depends on it. The International Heritage Foundation has been conducting annual surveys since 1995 on the fulfillment of these conditions in 180 countries around the world, including Georgia. The index of economic freedom in Georgia changes every year. A country is considered economically free if it does not restrict individual choice, voluntary exchange, freedom of competition. A necessary condition is the protection of private property. In an economically free society, every person has the full right, at his own discretion and in the conditions of free choice, to achieve his own goals, the state does not interfere in its activities and choices. It should be noted that economic freedom does not mean economic independence. At the present stage of society's development, the economic activities of any economic entity are so intertwined, so dynamic and in-depth, that the notion of economic independence sounds more an anachronistic than a 21st-century achievement.This applies to relations between countries, as well as relations between individuals and legal entities. Economic freedom means, above all, freedom of choice. \u0000Index of Economic Freedom (Economic Freedom of the World) is a measure of economic freedom compiled by the Heritage Foundation, a leading center for American policy research and ,,The Wall Street Journal“ . This index has been established since 1995.The world rating of \"economic freedom\" has a great importance in terms of further attracting investment in the country. The Index of Economic Freedom is based on ten criteria. These are: freedom of business, freedom of trade, fiscal freedom, government costs, monetary freedom, freedom of investment, financial freedom, property rights, freedom from corruption, freedom of labor. \u0000The information on the results of survey of the Heritage Foundation \"Economic Freedom Index\" 2020 is posted on the official website of the Ministry of Economy and Sustainable Development of Georgia, according to the survey 2020 of the \"Heritage Foundation\" Index of Economic Freedom \" rating score of Georgia reached a historical maximum - 77.1 points, it was promoted by 4 positions in the world ranking and took the 12th position. Compared to the previous year, Georgia was promoted by 2 positions in the European region - with this result Georgia is in the 6th place among 45 countries in the European region with the status of \"mostly free\". Total score ofGeorgia exceeds both the regional (69.8 points) and the world average point (61.6 points).\u0000In our view, property rights are crucial in this large system of valuation. In terms of private ownership, the benefit or loss is the property of the owner, ","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129926437","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}
Despite the fact that the coronavirus pandemic caused an economic crisis and a significant reduction in demand and supply, it gave a strong impetus to the development and massive use of information technology, in the beginning of a new long wave of the economic cycle. The pandemic is not a challenge only to the world community, but it also tests it - to what extent it is able to quickly and efficiently digitize the economy, transfer production to a new technological level, and ultimately, implement the fourth technological revolution. The Internet, telecommunications already have the opportunity to improve their qualifications in their own or promising specialties of interested persons through appropriate online courses. In countries with developed market economies and before the pandemic, the number of students in such courses was almost equal to the number of university students, and in the coming years, in all likelihood, it will significantly exceed it. This fully fits into the life-long learning trend caused by rapid technological changes, which nullifies the "eternal status" of the acquired profession. In less than a year since the beginning of the global coronavirus pandemic, there have been significant changes in the organization of forms of study and teaching in universities. The latter have to seriously revise their teaching methods in the "rapid chess" mode and abandon outdated forms of teaching. COVID-19 has paved the way for distance learning and work, online lessons, lectures, video conferences. However, the distance, online form of training and work has not only advantages, but also disadvantages, the ultimate level of efficiency. At the same time, at present, not all students, students and even educational institutions have the technical and material capabilities to provide online learning. Knowledge is a multifunctional tool with the help of which a person copes with certain tasks. Taking this into account, the university should equip young people with such knowledge that will have not only informational load, but also great applied value. In the context of the pandemic, universities are faced with serious challenges, most of them are like a downward spiral orbit: on the one hand, online teaching saves money on the maintenance and operation of classrooms, but on the other hand, this means reducing the costs of students (their parents, sponsors, etc. etc.), the appropriate adjustment of their mobility plans, which makes the administration and the state the need to pursue a new, changed educational and economic policy. In the context of a pandemic, the implementation of these tasks faces a serious danger: traditional forms of study and knowledge transfer are disrupted and the market requirements become not entirely clear due to its significant narrowing. The question of the need to reduce the dependence of the cost of studying at universities on the contributions of the students themselves (their parents, sponsors, etc.) is becomin
{"title":"TRANSFORMATION OF THE FORMAT OF STUDY AND WORK IN THE CONTEXT OF THE CORONAVIRUS PANDEMIC","authors":"Joseph Archvadze","doi":"10.52244/EP.2020.20.01","DOIUrl":"https://doi.org/10.52244/EP.2020.20.01","url":null,"abstract":"Despite the fact that the coronavirus pandemic caused an economic crisis and a significant reduction in demand and supply, it gave a strong impetus to the development and massive use of information technology, in the beginning of a new long wave of the economic cycle. The pandemic is not a challenge only to the world community, but it also tests it - to what extent it is able to quickly and efficiently digitize the economy, transfer production to a new technological level, and ultimately, implement the fourth technological revolution.\u0000The Internet, telecommunications already have the opportunity to improve their qualifications in their own or promising specialties of interested persons through appropriate online courses. In countries with developed market economies and before the pandemic, the number of students in such courses was almost equal to the number of university students, and in the coming years, in all likelihood, it will significantly exceed it. This fully fits into the life-long learning trend caused by rapid technological changes, which nullifies the \"eternal status\" of the acquired profession.\u0000In less than a year since the beginning of the global coronavirus pandemic, there have been significant changes in the organization of forms of study and teaching in universities. The latter have to seriously revise their teaching methods in the \"rapid chess\" mode and abandon outdated forms of teaching.\u0000COVID-19 has paved the way for distance learning and work, online lessons, lectures, video conferences. However, the distance, online form of training and work has not only advantages, but also disadvantages, the ultimate level of efficiency. At the same time, at present, not all students, students and even educational institutions have the technical and material capabilities to provide online learning.\u0000Knowledge is a multifunctional tool with the help of which a person copes with certain tasks. Taking this into account, the university should equip young people with such knowledge that will have not only informational load, but also great applied value.\u0000In the context of the pandemic, universities are faced with serious challenges, most of them are like a downward spiral orbit: on the one hand, online teaching saves money on the maintenance and operation of classrooms, but on the other hand, this means reducing the costs of students (their parents, sponsors, etc. etc.), the appropriate adjustment of their mobility plans, which makes the administration and the state the need to pursue a new, changed educational and economic policy.\u0000In the context of a pandemic, the implementation of these tasks faces a serious danger: traditional forms of study and knowledge transfer are disrupted and the market requirements become not entirely clear due to its significant narrowing. The question of the need to reduce the dependence of the cost of studying at universities on the contributions of the students themselves (their parents, sponsors, etc.) is becomin","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"357 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115939812","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}
There are different attitudes towards small business definition. Basically, the laws of the countries are based on the criteria on the basis of which this or that enterprise belongs to the small business sector. However, in EU countries, small and medium enterprises are considered as small businesses and they are considered in one context. The concept of small and medium business combines number of employees, annual turnover and annual balance. The official definition of small and medium enterprises in Georgia is partially in line with EU standards. The concepts of small business and micro business are established only in terms of tax policy, while in institutional and quantitative or qualitative terms its definition is not officially definite.
{"title":"SOME ASPECTS OF COMPARATIVE ANALYSIS OF SME STANDARDS IN THE EU AND GEORGIA","authors":"Natia Kurdgelia","doi":"10.52244/EP.2020.20.13","DOIUrl":"https://doi.org/10.52244/EP.2020.20.13","url":null,"abstract":"There are different attitudes towards small business definition. Basically, the laws of the countries are based on the criteria on the basis of which this or that enterprise belongs to the small business sector. However, in EU countries, small and medium enterprises are considered as small businesses and they are considered in one context. The concept of small and medium business combines number of employees, annual turnover and annual balance. The official definition of small and medium enterprises in Georgia is partially in line with EU standards. The concepts of small business and micro business are established only in terms of tax policy, while in institutional and quantitative or qualitative terms its definition is not officially definite.","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128150175","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}
Regional economic cooperation is of great importance. For these countries, rapid economic development is a major concern on the path to EU integration. Economic development without cooperation is unthinkable. There are many issues in such areas as trade, energy security, transport issues and other. Because the economies of countries are fragmented regional cooperation is necessary to eliminate these problems. We have to define the strategy of European Union with Serbia and Croatia. For the EU, regional cooperation with the Western Balkans, including Serbia and Croatia, as well as its deepening, especially between the countries of the Western Balkans, is a top priority, since such cooperation is a key factor in political stability, economic development and security. In our opinion economical indicators give us some idea of the development dynamics of these two countries. Despite cultural, political and historical differences, Serbia will also be able to take an interest in deepening economic, cultural and political co-operation with the EU, including Croatia
{"title":"POLITICAL AND ECONOMIC CONSEQUENCES OF CROATIA’S EU INTEGRATION","authors":"Tsitsino Dzotsenidze","doi":"10.52244/EP.2020.20.10","DOIUrl":"https://doi.org/10.52244/EP.2020.20.10","url":null,"abstract":"Regional economic cooperation is of great importance. For these countries, rapid economic development is a major concern on the path to EU integration. Economic development without cooperation is unthinkable. There are many issues in such areas as trade, energy security, transport issues and other. Because the economies of countries are fragmented regional cooperation is necessary to eliminate these problems. We have to define the strategy of European Union with Serbia and Croatia. For the EU, regional cooperation with the Western Balkans, including Serbia and Croatia, as well as its deepening, especially between the countries of the Western Balkans, is a top priority, since such cooperation is a key factor in political stability, economic development and security. In our opinion economical indicators give us some idea of the development dynamics of these two countries. Despite cultural, political and historical differences, Serbia will also be able to take an interest in deepening economic, cultural and political co-operation with the EU, including Croatia","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114760601","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}
Cryptocurrency is a virtual digital currency. The main reason for the popularity of digital currency is its decentralization and the peculiarities arising from it. Austrian economist and philosopher Friedrich August von Hayek In the 1970s, he became interested in the benefits of money-laundering by the state and began exploring the possibilities of alternative currencies. In 1976 he published the book: Denationalization of Money: An Analysis of the Theory and Practice of Concurrent Currencies. According to Hayek, the state monopoly on the issue of money should be abolished, he writes: The special right of the country's governments to issue and regulate money could not help the society to receive much better money than it would have without the intervention of governments. It was this work by Hayek that prepared the ideological basis for the creation of decentralized digital currency. The purpose of creating a cryptocurrency is to get rid of the directives of central banks. If cryptocurrencies are created by the governments of countries, the basic idea of creating a virtual currency that virtual capital in the Internet space must be beyond the control and regulation of the government is lost. It is in this fundamental idea that the best degree of freedom is best seen, the increased degree of human dependence on free money, which raises many questions, namely: What is the philosophical concept of creating cryptocurrency? What worldview feeds the existence of cryptocurrency? Does the existence of cryptocurrency have an intellectual basis? What is the future of this venture? What principles or obligations should the government follow when talking about cryptocurrency? Is the world preparing for a single currency? The term decentralized digital currency has great appeal, the freedom to depend on money on this scale has long been awaited by mankind, despite the fact that we have numerous examples of independent money making in the world. Can cryptocurrency free us from default? The answer to this question is heterogeneous. One group of experts believes that they do not see default in the crypto world at all, because there will be no need to attract capital by traditional methods, there will be no need for long-term commitments, no bonds will be needed, we will move from the industrial era to the service era, cryptocurrencies. Wall Street positioners even call this view futuristic and say that bonds are a structure of contracts and rules that are not in the crypto world. In our opinion, this may be the traditional paradigm of the attitude of the old representatives of the financial world to the crypto industry. There have been serious tectonic shifts in recent geoeconomics, such as Brexit, the struggle for Catalan independence, the Donald Trump phenomenon, the Recep Tayyip Erdogan factor, and so on. All this breaks the old economic models that we previously thought were unalternative. In the final part of the research topic, we discuss the p
{"title":"WHAT WORLDVIEW FEEDS THE EXISTENCE OF CRYPTOCURRENCY?","authors":"N. Liparteliani","doi":"10.52244/EP.2020.20.08","DOIUrl":"https://doi.org/10.52244/EP.2020.20.08","url":null,"abstract":"Cryptocurrency is a virtual digital currency. The main reason for the popularity of digital currency is its decentralization and the peculiarities arising from it. Austrian economist and philosopher Friedrich August von Hayek In the 1970s, he became interested in the benefits of money-laundering by the state and began exploring the possibilities of alternative currencies. In 1976 he published the book: Denationalization of Money: An Analysis of the Theory and Practice of Concurrent Currencies. According to Hayek, the state monopoly on the issue of money should be abolished, he writes: The special right of the country's governments to issue and regulate money could not help the society to receive much better money than it would have without the intervention of governments. It was this work by Hayek that prepared the ideological basis for the creation of decentralized digital currency.\u0000The purpose of creating a cryptocurrency is to get rid of the directives of central banks. If cryptocurrencies are created by the governments of countries, the basic idea of creating a virtual currency that virtual capital in the Internet space must be beyond the control and regulation of the government is lost. It is in this fundamental idea that the best degree of freedom is best seen, the increased degree of human dependence on free money, which raises many questions, namely:\u0000 What is the philosophical concept of creating cryptocurrency?\u0000 What worldview feeds the existence of cryptocurrency?\u0000 Does the existence of cryptocurrency have an intellectual basis?\u0000 What is the future of this venture?\u0000 What principles or obligations should the government follow when talking about cryptocurrency?\u0000 Is the world preparing for a single currency?\u0000The term decentralized digital currency has great appeal, the freedom to depend on money on this scale has long been awaited by mankind, despite the fact that we have numerous examples of independent money making in the world. Can cryptocurrency free us from default? The answer to this question is heterogeneous. One group of experts believes that they do not see default in the crypto world at all, because there will be no need to attract capital by traditional methods, there will be no need for long-term commitments, no bonds will be needed, we will move from the industrial era to the service era, cryptocurrencies. Wall Street positioners even call this view futuristic and say that bonds are a structure of contracts and rules that are not in the crypto world. In our opinion, this may be the traditional paradigm of the attitude of the old representatives of the financial world to the crypto industry. There have been serious tectonic shifts in recent geoeconomics, such as Brexit, the struggle for Catalan independence, the Donald Trump phenomenon, the Recep Tayyip Erdogan factor, and so on. All this breaks the old economic models that we previously thought were unalternative.\u0000In the final part of the research topic, we discuss the p","PeriodicalId":344544,"journal":{"name":"Economic Profile","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114952037","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}
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