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Journal number 3 ∘ Shota Veshapidze
Modern priorities of ensuring foreign economic security of Georgia

Expanded Summary


Economic security is one of the most important features of the economy, and ensuring the safe functioning of the country's economy is a necessary condition for its competitive and sustainable development. It is important to systematize conceptual approaches to ensuring external economic security in the context of global risks and threats.

Basic approaches to the concept of economic security of the country and methods of fighting it are defined by different concepts. Among them, the institutional concepts of protection against cameralist, Keynesian and administrative barriers are noteworthy. Foreign competitors (according to F. Liszt), "market failure" (according to J. M. Keynes) and "state failure" (according to H. De Soto) can pose threats to the economic security of each country.

Different strands of foreign trade policy are important, including mercantilism, protectionism, free trade, super-protectionism, private monopoly protectionism, collective protectionism, and neo-protectionism. Depending on the different motives for the introduction of trade barriers, five types of neo-protectionism can be distinguished: "protectionism of lobbyists," "protectionism of industrialists," "protectionism of geostrategists," "protectionism of populists," "benevolent protectionism." The main role in the intensive growth of trade barriers belongs to developed countries, which previously supported free trade and globalization They were catchers.

External economic security is ensuring the development of economic processes in the country, which will create the necessary (acceptable) conditions and resources for economic stability and development of society. The national security of the country is characterized, first of all, by the state of the economy and its competitiveness on the world markets. The more stable and competitive the economy, the higher its level of economic security.

Foreign economic security includes its provision in the main forms of international economic relations, such as: problems of ensuring economic security within the international division of labor; Assessment of the results of direct and portfolio investments in the global economy for the external economic security of the country; ensuring foreign economic security of international trade; Modern monetary and financial system and international economic security.

There is a close relationship between modern technologies, economic security and the growth of sustainable economic development potential in Georgia. The influence of the fourth industrial revolution on the economic and innovative potential of Georgia is decisive. Technological progress helps increase economic opportunity and prosperity. The role of innovative policy in ensuring the economic security of the state is great. Successfully solving the problems of attracting investments in the field of science is an important factor in the growth of natural, industrial, scientific, technical and labor potential of Georgia. The emergence of the Internet, the development of artificial intelligence, blockchain, Internet of Things and 5G technologies has accelerated the digital transformation of the world economy. The rapid development of digital technologies has created a highly coordinated digital economy that transcends geographic boundaries and industry sectors. Digital transformation in the global economy brings both positive results and threats to its development.

Significant economic benefits resulting from the digitization of the economy include increased productivity, job creation, enhanced international trade and innovation. In addition, there are potential risks and negative effects. The workplace is being replaced by technology, data privacy is at risk, market issues and etc.

The official documents received by the Georgian state allow for the regulation and maintenance of the country's security management processes. At the same time, the modern mechanism of ensuring economic security must be constantly transformed along with new risks and threats emerging in the country's economic sector. Correct positioning to overcome external and internal threats to the national economy ensures the economic sovereignty of the country, the unity of its economic space and the conditions for the implementation of strategic national priorities.

Practical importance It is important to identify the existing threats to the external economic security of the Republic of Georgia and to develop directions for improving the security system, which ensures a favorable international position of the national economy. This means not identifying the importance of one type of threat in relation to others, but studying their interrelationship, interdependence and mutual influence.

To build an effective system of external economic security, it is necessary to identify the most dangerous external threats, to rank them in order to determine the directions that require operational regulation or consistent strategic neutralization. When assessing threats, it is necessary to use both the entire complex system of indicators, as well as their threshold values, which reflect the boundaries of safe development of the national economy. This will make it possible to identify Georgia's external economic threats, challenges and risks, develop tools and recommendations for its solution.

The formation of the national security strategy of Georgia can be determined according to a 5-step system scheme, which includes: Determination of the theoretical concepts, methodological sources and basic concepts of the strategy; Assessment of Georgia's involvement in today's world based on the analysis of the current situation: trends and opportunities; National interests and national strategic priorities of Georgia; Ensuring national security; Strategy realization organization and mechanisms.

Keywords: national security; national interests; foreign economic security; national interests and national strategic priorities; National security assurance system.