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 ∘

Economic development processes in the pre-industrial era

DOI: 10.36172/EKONOMISTI.2020.XVI.03.ABESADZE Annotation The paper examines the processes of economic development in the pre-industrial era, which includes the Stone, Bronze and Iron Ages. Although very slow development has taken place since the beginning of the earth, modern society has been founded as the result of the evolution and development of the earth, man, and the economy. Key words: Primitive economy, Stone Age, Bronze Age, Iron Age ,, Paleolithic, Mesolithic, Neolithic Introduction The formation of modern society has been led to by : the unique cosmic events of the formation of the Earth; miraculous events that made earth, out of all infinitely numerous celestial bodies in the universe, into the planet where life exists (Although it is possible for life to exist on another celestial body,but it is still unknown); By still unexplained the origin of life on Earth and its highest form, man, and his evolution; The use of tools by m

Journal number 3 ∘ Michael Becker ∘ Almas Zhakupov ∘ Anatoly Lazebnik ∘ Maryash Zhakupova ∘ Kakhaber Gabelashvili ∘

ISSUES OF ENSURING THE "BALANCE" (LONG-TERM) RELIABILITY OF POWER SYSTEMS IN A COMPETITIVE MARKET

DOI: 10.36172/EKONOMISTI.2020.XVI.03.BECKER.ZHAKUPOV.LAZEBNIK.ZHAKUPOVA.GABELASHVILI Expanded Summary This paper contains descriptions of various approaches for providing resource adequacy, in particular introduction in operation of the wholesale power markets in addition to electric energy markets yet another market – installed (rated) capacity markets. Paper also contains description of particular aspects of the future Kazakhstan’s installed (rated) capacity market to the extent these aspects are laid out in the normative documents that are available to date. Some of these aspects are compared to approaches used in other world power markets including capacity market of Russian Federation. Key words: competitive energy market, local capacity markets, elastic capacity demand curves, UCAP model. From January 2019 in Kazakhstan, a market for the provision of services to ensure the reliability of generating capacities to load bearing began to function, which in fact will b

Journal number 3 ∘ Murman Kvaratskhelia ∘

GLOBAL CRISIS AND THEORETICAL PROBLEMS OF SUSTAINABLE DEVELOPMENT OF ECONOMICS

DOI: 10.36172/EKONOMISTI.2020.XVI.03.KVARATSKHELIA Expanded Summary This given article covers the topic of the factors causing the modern global crises and the anticipated consequences in the nearest future. The history of the world crises obviously shows that during the crisis emerge new and unordinary realias pushing the mankind towards establishing an unusual and different order. In the first instance it affects the basis of the society’s development, economy and perfection of its managing systems. The new phenomena require rethinking and reinterpretation and creation of the innovative theories. The existing difficulties and complexities challenge the progress of economy and well-being of the humanity. In general, development of society is a dynamic and constantly changing process. Such a change is progressive and keeps in step with the times and meets its requirements. It maintains creating of the new economical theories and its realization into pr

Journal number 3 ∘ Givi Lemonjava ∘ Sophio Tkeshelashvili ∘

FINANCIAL SYSTEM STABILITY AS INTEGRAL PART OF MONETARY POLICY FRAMEWORK

DOI: 10.36172/EKONOMISTI.2020.XVI.03.LEMONJAVA.TKESHELASHVILI Annotation Monetary policy decisions are transmitted to the economic through financial system. Moreover, financial stability is objective of monetary policy risk management system, which allows analyzing the impact of using different transmission channels on both economic and financial environments. Monetary policy rate is the basic instrument, which has a direct influence and at the same time is one of the main risks to which the financial system is most sensitive (prices, liquidity, over indebtedness). On the one hand, in order for monetary policy to be effective, a robust financial system is needed and price stability is a prerequisite for financial system stability. Financial markets which are characterized by different shocks have direct influence on economic activity and latest financial crisis is vivid example which started from banking crisis and spread to the economy. Despite critical expert opinions

Journal number 3 ∘ Yuzbashova Medina Habib ∘

THE IMPORTANCE OF STRENGTHENING THE ROLE OF THE STATE IN THE PROCESS OF INTEGRATING HEALTH SERVICES AND FINANCING

DOI: 10.36172/EKONOMISTI.2020.XVI.03.YUZBASHOVA Expanded Summary In developing countries, cardiovascular diseases (CVD) account for the largest share of noncommunicable diseases. In these countries, there is a high mortality rate from these diseases. According to WHO, out of the ten leading causes of death in the world, CVD diseases rank first - 21.9%. In Azerbaijan, 33,000 deaths are associated with cardiovascular diseases (CVD). In developing countries, cardiovascular diseases (CVD) account for the largest share of noncommunicable diseases. In these countries, there is a high mortality rate from these diseases. In developed countries, preventive medicine and the primary link of the health care system are better developed, as well as the latest methods of diagnosis and treatment of various diseases are applied. Tackling noncommunicable diseases is very important because these diseases can be prevented or treated at an early stage with less cost. In this regard, the prio

Journal number 3 ∘ Rusudan Kvaratskhelia ∘ Levan kikilashvili ∘

Problems in Tourism Industry in Covid-19 conditions and Innovative Ways of their Solution

DOI: 10.36172/EKONOMISTI.2020.XVI.03.KVARATSKHELIA.KIKILASHVILI Expanded Summary Tourism is one of the most dynamic, relevant, and rapidly evolving sectors of the modern world economy. Tourism has a special place in the economies of many countries, in terms of revenue growth and job creation. The development of tourism also has a significant positive impact on other sectors of the economy, such as transport, industry, agriculture. The development of tourism itself is influenced by geographical, natural, historical, religious, cultural, political, social, demographic, economic factors. The standard of living of the population, the social and economic environment, the length of free time, the quality of cultural needs and the desire to meet them, political stability, regional development, the level of infrastructure, etc. are of great importance for the development of tourism in the country. Tourism is generally seen as a tool for assessing the socio-economic development of

Journal number 3 ∘ Zurab Nozadze ∘

Theoretical aspects of ecological taxes on natural resources

DOI: 10.36172/EKONOMISTI.2020.XVI.03.NOZADZE Annotation The article discusses the role and importance of ecological taxes in the field of nature use and environmental protection. Characterization of types of ecological taxes is given for individual types of natural resources, such as: Taxes for the use of water resources; Taxes on the extraction of minerals; Taxes for some land resources; Taxes for Forest resources; Taxes on the impact of the animal world on the population. The main criteria for the effectiveness of the use of ecological taxes have been analyzed. There are discussed the cological tax improvement measures and specific proposals which will help to improve the existing tax system and improve the natural environment. Ultimately, all of these measures will contribute to the sustainable development of the economy and raise living standards. Environmental funds can make a significant contribution for improving the use of natural resources and the efficient use of

Journal number 3 ∘ Tsotnei Iashvili ∘

THE ASSESSMENT OF INCOME INEQUALITY IN GEORGIA: THE URBAN-RURAL DISPARITY OF INCOME

DOI: 10.36172/EKONOMISTI.2020.XVI.03.IASHVILI Annotation Income inequality is a significant issue in Georgia and requires various studies from various point of view. The purpose of this article is to analyze and overview the income inequality in Georgia. The article mostly emphasizes its spatial distribution and key aspects from the urban-rural perspective. As well as, Government’s fiscal redistribution impact. For the article’s objectives author has used the data of the Integrated Household Survey by the National Statistics Office of Georgia (Geostat). To estimate the income inequality, the Gini index (by income) was used as well. The one provided by Geostat and Gini index (by income) of the Standardized World Income Inequality Database (SWIID8_2) (Solt, 2019). As the analysis of Integrated Household Survey shows that real income inequality is higher than it is presented by Geostat. The difference between the urban and rural areas is high and urban

Journal number 3 ∘ Ana Guchua ∘

GEOECONOMIC BENEFITS OF POST-PANDEMIC TOURISM (ON THE EXAMPLE OF GEORGIA)

DOI: 10.36172/EKONOMISTI.2020.XVI.03.GUCHUA Annotation The paper presents the geo-economic approach of tourism development and the state of this sector сonsidering Covid-19 Pandemic of 2020. The response measures taken by the state government and possible risks and threats of implementing the anti-crisis plan of the tourism sector are analyzed, as well as ways to overcome them.The future geoeconomic opportunities of tourism and new direction of the country, that have emerged since the spread of the pandemic, are explored. Keywords:pandemic, tourism, geoeconomics Introduction Geoeconomics gained great importance in the system of modern science, because of the development of global economic processes. The tourism space, tourist flows, as well as dividing the world into countries that receive tourists (with a favorable climate and tourist infrastructure) and ensure the flow of tourists are among the modern, major trends of geoeconomics [Ignatyeva…, 2018:515-517]

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 ∘ Economic development processes in the pre-industrial era DOI: 10.36172/EKONOMISTI.2020.XVI.03.ABESADZE Annotation The paper examines the processes of economic development in the pre-industrial era, which includes the Stone, Bronze and Iron Ages. Although very slow development has taken place since the beginning of the earth, modern society has been founded as the result of the evolution and development of the earth, man, and the economy. Key words: Primitive economy, Stone Age, Bronze Age, Iron Age ,, Paleolithic, Mesolithic, Neolithic Introduction The formation of modern society has been led to by : the unique cosmic events of the formation of the Earth; miraculous events that made earth, out of all infinitely numerous celestial bodies in the universe, into the planet where life exists (Although it is possible for life to exist on another celestial body,but it is still unknown); By still unexplained the origin of life on Earth and its highest form, man, and his evolution; The use of tools by m Journal number 3 ∘ Michael Becker ∘ Almas Zhakupov ∘ Anatoly Lazebnik ∘ Maryash Zhakupova ∘ Kakhaber Gabelashvili ∘ ISSUES OF ENSURING THE "BALANCE" (LONG-TERM) RELIABILITY OF POWER SYSTEMS IN A COMPETITIVE MARKET DOI: 10.36172/EKONOMISTI.2020.XVI.03.BECKER.ZHAKUPOV.LAZEBNIK.ZHAKUPOVA.GABELASHVILI Expanded Summary This paper contains descriptions of various approaches for providing resource adequacy, in particular introduction in operation of the wholesale power markets in addition to electric energy markets yet another market – installed (rated) capacity markets. Paper also contains description of particular aspects of the future Kazakhstan’s installed (rated) capacity market to the extent these aspects are laid out in the normative documents that are available to date. Some of these aspects are compared to approaches used in other world power markets including capacity market of Russian Federation. Key words: competitive energy market, local capacity markets, elastic capacity demand curves, UCAP model. From January 2019 in Kazakhstan, a market for the provision of services to ensure the reliability of generating capacities to load bearing began to function, which in fact will b Journal number 3 ∘ Murman Kvaratskhelia ∘ GLOBAL CRISIS AND THEORETICAL PROBLEMS OF SUSTAINABLE DEVELOPMENT OF ECONOMICS DOI: 10.36172/EKONOMISTI.2020.XVI.03.KVARATSKHELIA Expanded Summary This given article covers the topic of the factors causing the modern global crises and the anticipated consequences in the nearest future. The history of the world crises obviously shows that during the crisis emerge new and unordinary realias pushing the mankind towards establishing an unusual and different order. In the first instance it affects the basis of the society’s development, economy and perfection of its managing systems. The new phenomena require rethinking and reinterpretation and creation of the innovative theories. The existing difficulties and complexities challenge the progress of economy and well-being of the humanity. In general, development of society is a dynamic and constantly changing process. Such a change is progressive and keeps in step with the times and meets its requirements. It maintains creating of the new economical theories and its realization into pr Journal number 3 ∘ Givi Lemonjava ∘ Sophio Tkeshelashvili ∘ FINANCIAL SYSTEM STABILITY AS INTEGRAL PART OF MONETARY POLICY FRAMEWORK DOI: 10.36172/EKONOMISTI.2020.XVI.03.LEMONJAVA.TKESHELASHVILI Annotation Monetary policy decisions are transmitted to the economic through financial system. Moreover, financial stability is objective of monetary policy risk management system, which allows analyzing the impact of using different transmission channels on both economic and financial environments. Monetary policy rate is the basic instrument, which has a direct influence and at the same time is one of the main risks to which the financial system is most sensitive (prices, liquidity, over indebtedness). On the one hand, in order for monetary policy to be effective, a robust financial system is needed and price stability is a prerequisite for financial system stability. Financial markets which are characterized by different shocks have direct influence on economic activity and latest financial crisis is vivid example which started from banking crisis and spread to the economy. Despite critical expert opinions Journal number 3 ∘ Yuzbashova Medina Habib ∘ THE IMPORTANCE OF STRENGTHENING THE ROLE OF THE STATE IN THE PROCESS OF INTEGRATING HEALTH SERVICES AND FINANCING DOI: 10.36172/EKONOMISTI.2020.XVI.03.YUZBASHOVA Expanded Summary In developing countries, cardiovascular diseases (CVD) account for the largest share of noncommunicable diseases. In these countries, there is a high mortality rate from these diseases. According to WHO, out of the ten leading causes of death in the world, CVD diseases rank first - 21.9%. In Azerbaijan, 33,000 deaths are associated with cardiovascular diseases (CVD). In developing countries, cardiovascular diseases (CVD) account for the largest share of noncommunicable diseases. In these countries, there is a high mortality rate from these diseases. In developed countries, preventive medicine and the primary link of the health care system are better developed, as well as the latest methods of diagnosis and treatment of various diseases are applied. Tackling noncommunicable diseases is very important because these diseases can be prevented or treated at an early stage with less cost. In this regard, the prio Journal number 3 ∘ Rusudan Kvaratskhelia ∘ Levan kikilashvili ∘ Problems in Tourism Industry in Covid-19 conditions and Innovative Ways of their Solution DOI: 10.36172/EKONOMISTI.2020.XVI.03.KVARATSKHELIA.KIKILASHVILI Expanded Summary Tourism is one of the most dynamic, relevant, and rapidly evolving sectors of the modern world economy. Tourism has a special place in the economies of many countries, in terms of revenue growth and job creation. The development of tourism also has a significant positive impact on other sectors of the economy, such as transport, industry, agriculture. The development of tourism itself is influenced by geographical, natural, historical, religious, cultural, political, social, demographic, economic factors. The standard of living of the population, the social and economic environment, the length of free time, the quality of cultural needs and the desire to meet them, political stability, regional development, the level of infrastructure, etc. are of great importance for the development of tourism in the country. Tourism is generally seen as a tool for assessing the socio-economic development of Journal number 3 ∘ Zurab Nozadze ∘ Theoretical aspects of ecological taxes on natural resources DOI: 10.36172/EKONOMISTI.2020.XVI.03.NOZADZE Annotation The article discusses the role and importance of ecological taxes in the field of nature use and environmental protection. Characterization of types of ecological taxes is given for individual types of natural resources, such as: Taxes for the use of water resources; Taxes on the extraction of minerals; Taxes for some land resources; Taxes for Forest resources; Taxes on the impact of the animal world on the population. The main criteria for the effectiveness of the use of ecological taxes have been analyzed. There are discussed the cological tax improvement measures and specific proposals which will help to improve the existing tax system and improve the natural environment. Ultimately, all of these measures will contribute to the sustainable development of the economy and raise living standards. Environmental funds can make a significant contribution for improving the use of natural resources and the efficient use of Journal number 3 ∘ Tsotnei Iashvili ∘ THE ASSESSMENT OF INCOME INEQUALITY IN GEORGIA: THE URBAN-RURAL DISPARITY OF INCOME DOI: 10.36172/EKONOMISTI.2020.XVI.03.IASHVILI Annotation Income inequality is a significant issue in Georgia and requires various studies from various point of view. The purpose of this article is to analyze and overview the income inequality in Georgia. The article mostly emphasizes its spatial distribution and key aspects from the urban-rural perspective. As well as, Government’s fiscal redistribution impact. For the article’s objectives author has used the data of the Integrated Household Survey by the National Statistics Office of Georgia (Geostat). To estimate the income inequality, the Gini index (by income) was used as well. The one provided by Geostat and Gini index (by income) of the Standardized World Income Inequality Database (SWIID8_2) (Solt, 2019). As the analysis of Integrated Household Survey shows that real income inequality is higher than it is presented by Geostat. The difference between the urban and rural areas is high and urban Journal number 3 ∘ Ana Guchua ∘ GEOECONOMIC BENEFITS OF POST-PANDEMIC TOURISM (ON THE EXAMPLE OF GEORGIA) DOI: 10.36172/EKONOMISTI.2020.XVI.03.GUCHUA Annotation The paper presents the geo-economic approach of tourism development and the state of this sector сonsidering Covid-19 Pandemic of 2020. The response measures taken by the state government and possible risks and threats of implementing the anti-crisis plan of the tourism sector are analyzed, as well as ways to overcome them.The future geoeconomic opportunities of tourism and new direction of the country, that have emerged since the spread of the pandemic, are explored. Keywords:pandemic, tourism, geoeconomics Introduction Geoeconomics gained great importance in the system of modern science, because of the development of global economic processes. The tourism space, tourist flows, as well as dividing the world into countries that receive tourists (with a favorable climate and tourist infrastructure) and ensure the flow of tourists are among the modern, major trends of geoeconomics [Ignatyeva…, 2018:515-517]