EKONOMISTI
The international scientific and analytical, reviewed, printing and electronic journal of Paata Gugushvili Institute of Economics of Ivane Javakhishvili Tbilisi State University

DOI: 10.36172/EKONOMISTI

E ISSN 2346-8432
Print ISSN 1987-6890

Journal number 3 ∘ Ramaz Abesadze ∘

Problems of economic development and economic growth in Georgia

Annotation In thiswork is proposed some considerations about further development of Georgian economy. The focus ismade on the innovative way of economic development as well as on existent acute problems of the modern stage such as are: unemployment and poverty, sustainable development, problems of energy sector, the exchange rate of national currency, a negative trade balance and so on. Introduction More than a quarter of century ago in Georgia's economic had begun the process of transformation, but creation of a completed market economy has failed, because there were not only the objective conditions, but also the common mistakes had been done, namely: on the initial stage of transformation, by statewas provided the wrong domestic and foreign policy, the economic reforms were incomplete and non-systematic; it was chosen the wrong path of reforms. The path of innovative development of economy had been completely neglected; incorrect monetary-credit po

Journal number 3 ∘ Dahl Martin ∘ Bokajło Justyna ∘

The Role and Significance of Germany in the International Arena in the 21st Century

Summary.This paper aims at analyzingthe evolution of the international role of Germany in the twenty-first century and answering the question about the importance of the Federal Republic of Germany in the international arena. The research methods used in the paper include descriptive and factual analysis, statistical data analysis and analysis of selected publications. The findings of the conducted research confirm the growing role of Germany in the international arena, both in Europe and in the world. However, it should be emphasized that its role is largely determined by the strength and position of the European Union. Keywords: Germany, Germany in the international arena, Germany's position in the European Union, global role of Germany. Introduction The Federal Republic of Germany is a politically stable and highly developed state with a democratic political system based on the social market economy model [1, p. 261-276], [2, p. 261-271]. Germany is also the largest economy in Eu

Journal number 3 ∘ Alfred Kuratashvili ∘

THEORY OF SUPREMACY OF INTERESTS OF PEOPLE – A DEFINING SCIENTIFIC BASIS OF SOCIAL ORIENTATION OF FUNCTIONING OF ECONOMY AND BUSINESS

Expanded Summary The scientific work critically examines the erroneously established in science, politics and practice in the so-called civilized world, and dominant in society and in the state – the supremacy of means (?!). In particular, the supremacy (dominance) in society and in the state of the economic end in itself of the means is critically considered – the supremacy (dominance) of money, market, profit, capital over man (?!). Moreover, the so-called “Invisible Hand” of Adam Smith is at the heart of the economic end in itself of the means expressing the true essence of capitalism, because despite the universally recognized merits of Adam Smith in economic science, his main “scientific” idea of the so-called “Invisible Hand”, Adam Smith, in my scientifically sound conviction, is in fact not only one of the founders of classical political economy, but also a “scientific” “interpreter” and

Journal number 3 ∘ Vakhtang Burduli ∘

IMPERATIVES AND DIRECTIONS OF DEVELOPMENT OF "GREEN" ECONOMY AND ITS INTERACTION WITH INNOVATIVE ECONOMY

Summary. This article discusses the imperatives (motivating reasons) that make it necessary to move to development according to the principles of the “green” economy, discusses options for defining the concept of a "green" economy and the direction of its development by sectors. The interrelation of the “green” economy with the innovation economy was also discussed. The public and private financial instruments for coordinating the green and innovative economies are systematized. Key words: “green” economy; innovative economy; definition of a “green” economy; directions of the “green” economy; “Green” innovations, “green” investments, financial instruments of coordination. Introduction At present, the world community is actively promoting the issue of building a “green” economy, which should gradually replace the existing brown economy for many decades, causing serious damage to the

Journal number 3 ∘ Bashir Hajiyev ∘

GREEN TOURISM AS AN IMPORTANT COMPONENT OF THE TRANSITION TO A GREEN ECONOMY

Summary. Green tourism as an important component of the transition to a green economy is considered in the article. Analyzing the features of this transition, the author considers the existing challenges for the development of green tourism, opportunities in the context of a green economy, as well as the creation of conditions for greening of tourism. Keywords: green tourism, green economy, ecotourism, transition. Introduction Currently, the transition to a green economy is one of the priorities of the world community on the path to sustainable development. Tourism, and especially green tourism, is an important sector where transformation is necessary and possible. As known, a green economy is a system of economic activities related to the production, distribution and consumption of goods and services, which lead to an increase in human well-being in the long term, while not exposing future generations to significant environmental risks or ecological scarcity. The UN Environment,

Journal number 3 ∘ Khatuna Tabagari ∘

Economic and Energy Importance of Caucasus in Near Future

Expanded Summary It’s a historical fact that the importance of Caucasus has not been changed for a long time but visa versa: Russia, Turkey, USA, EU and other countries tried and are still trying to dominate, impact or ally with Caucasus region with different reasons and goals. After destroying the Soviet Union the world payed attention to the Caucasus and Caspian Sea regions because of the location of Caucasus and the richness of hydrocarbon reserves of Caspian Sea region. Kazakhstan, Uzbekistan, Turkmenistan and Azerbaijan are riches with the mentioned commodities. That is why Russia tries to keep control over these countries: oil pipelines connect Kazakhstan and Azerbaijan to Russia and as for natural gas pipelines, they connect Uzbekistan, Turkmenistan and, also, Kazakhstan to it. This fact means that the abovementioned countries will be dependent to Russia: they will not be able to supply oil or natural gas to European countries without Russian permission. In Caucasus the

EKONOMISTI The international scientific and analytical, reviewed, printing and electronic journal of Paata Gugushvili Institute of Economics of Ivane Javakhishvili Tbilisi State University

DOI: 10.36172/EKONOMISTI E ISSN 2346-8432 Print ISSN 1987-6890	Journal number 3 ∘ Ramaz Abesadze ∘ Problems of economic development and economic growth in Georgia Annotation In thiswork is proposed some considerations about further development of Georgian economy. The focus ismade on the innovative way of economic development as well as on existent acute problems of the modern stage such as are: unemployment and poverty, sustainable development, problems of energy sector, the exchange rate of national currency, a negative trade balance and so on. Introduction More than a quarter of century ago in Georgia's economic had begun the process of transformation, but creation of a completed market economy has failed, because there were not only the objective conditions, but also the common mistakes had been done, namely: on the initial stage of transformation, by statewas provided the wrong domestic and foreign policy, the economic reforms were incomplete and non-systematic; it was chosen the wrong path of reforms. The path of innovative development of economy had been completely neglected; incorrect monetary-credit po Journal number 3 ∘ Dahl Martin ∘ Bokajło Justyna ∘ The Role and Significance of Germany in the International Arena in the 21st Century Summary.This paper aims at analyzingthe evolution of the international role of Germany in the twenty-first century and answering the question about the importance of the Federal Republic of Germany in the international arena. The research methods used in the paper include descriptive and factual analysis, statistical data analysis and analysis of selected publications. The findings of the conducted research confirm the growing role of Germany in the international arena, both in Europe and in the world. However, it should be emphasized that its role is largely determined by the strength and position of the European Union. Keywords: Germany, Germany in the international arena, Germany's position in the European Union, global role of Germany. Introduction The Federal Republic of Germany is a politically stable and highly developed state with a democratic political system based on the social market economy model [1, p. 261-276], [2, p. 261-271]. Germany is also the largest economy in Eu Journal number 3 ∘ Alfred Kuratashvili ∘ THEORY OF SUPREMACY OF INTERESTS OF PEOPLE – A DEFINING SCIENTIFIC BASIS OF SOCIAL ORIENTATION OF FUNCTIONING OF ECONOMY AND BUSINESS Expanded Summary The scientific work critically examines the erroneously established in science, politics and practice in the so-called civilized world, and dominant in society and in the state – the supremacy of means (?!). In particular, the supremacy (dominance) in society and in the state of the economic end in itself of the means is critically considered – the supremacy (dominance) of money, market, profit, capital over man (?!). Moreover, the so-called “Invisible Hand” of Adam Smith is at the heart of the economic end in itself of the means expressing the true essence of capitalism, because despite the universally recognized merits of Adam Smith in economic science, his main “scientific” idea of the so-called “Invisible Hand”, Adam Smith, in my scientifically sound conviction, is in fact not only one of the founders of classical political economy, but also a “scientific” “interpreter” and Journal number 3 ∘ Vakhtang Burduli ∘ IMPERATIVES AND DIRECTIONS OF DEVELOPMENT OF "GREEN" ECONOMY AND ITS INTERACTION WITH INNOVATIVE ECONOMY Summary. This article discusses the imperatives (motivating reasons) that make it necessary to move to development according to the principles of the “green” economy, discusses options for defining the concept of a "green" economy and the direction of its development by sectors. The interrelation of the “green” economy with the innovation economy was also discussed. The public and private financial instruments for coordinating the green and innovative economies are systematized. Key words: “green” economy; innovative economy; definition of a “green” economy; directions of the “green” economy; “Green” innovations, “green” investments, financial instruments of coordination. Introduction At present, the world community is actively promoting the issue of building a “green” economy, which should gradually replace the existing brown economy for many decades, causing serious damage to the Journal number 3 ∘ Bashir Hajiyev ∘ GREEN TOURISM AS AN IMPORTANT COMPONENT OF THE TRANSITION TO A GREEN ECONOMY Summary. Green tourism as an important component of the transition to a green economy is considered in the article. Analyzing the features of this transition, the author considers the existing challenges for the development of green tourism, opportunities in the context of a green economy, as well as the creation of conditions for greening of tourism. Keywords: green tourism, green economy, ecotourism, transition. Introduction Currently, the transition to a green economy is one of the priorities of the world community on the path to sustainable development. Tourism, and especially green tourism, is an important sector where transformation is necessary and possible. As known, a green economy is a system of economic activities related to the production, distribution and consumption of goods and services, which lead to an increase in human well-being in the long term, while not exposing future generations to significant environmental risks or ecological scarcity. The UN Environment, Journal number 3 ∘ Khatuna Tabagari ∘ Economic and Energy Importance of Caucasus in Near Future Expanded Summary It’s a historical fact that the importance of Caucasus has not been changed for a long time but visa versa: Russia, Turkey, USA, EU and other countries tried and are still trying to dominate, impact or ally with Caucasus region with different reasons and goals. After destroying the Soviet Union the world payed attention to the Caucasus and Caspian Sea regions because of the location of Caucasus and the richness of hydrocarbon reserves of Caspian Sea region. Kazakhstan, Uzbekistan, Turkmenistan and Azerbaijan are riches with the mentioned commodities. That is why Russia tries to keep control over these countries: oil pipelines connect Kazakhstan and Azerbaijan to Russia and as for natural gas pipelines, they connect Uzbekistan, Turkmenistan and, also, Kazakhstan to it. This fact means that the abovementioned countries will be dependent to Russia: they will not be able to supply oil or natural gas to European countries without Russian permission. In Caucasus the