Journal number 1 ∘ Ramaz Abesadze ∘ Nana Bibilashvili ∘

Problems of environmental protection in the EU

DOI: 10.36172/EKONOMISTI.2021.XVII Annotation. The European Union plays a major role in solving the world's environmental problems. The paper examines nature protection policies and legislation in the EU; EU Environmental Action Programs and EU environmental institutions Keywords: The European Union; Sustainable development; Environmental protection; Environmental policy; Maastricht Treaty; Amsterdam Treaty. Introduction One of the global problems of the XXI century is the problem of environmental protection. In the past, nature was used to meet the growing needs of human beings without any restrictions, which brought humanity to the brink of disaster. It is necessary to make fundamental changes in all elements of the economic system in order to avoid global environmental problems. At the present stage all over the world, individual countries, international organizations are looking for ways out of this impasse. Examples of this are the setting and implementation of su

Journal number 1 ∘ Paata Koguashvili ∘ Gega Baghaturia ∘

PUBLIC-PRIVATE RELATIONSHIP IN AGRICULTURE

DOI: 10.36172/EKONOMISTI.2021.XVII.01.Koguashvili.Baghaturia Expanded Summary The paper describes the main reasons for the underdevelopment of the country’s agricultural sector. Taking into consideration these reasons and current realities, it is necessary to find a mechanism of the new relationships between the State and business, through which it will be possible to ensure the recovery of this sector and its subsequent innovative development. The argument was made for triggering the mechanism of public-private partnership in agro-industrial complex. The relevance of the research stems from the need to introduce the mechanism of public-private partnership in agro-industrial complex of Georgia, and so to contribute to expanding the resource base in mutually favorable conditions for the State and business, as well as to target unutilized resources at sustainable development of agro-industrial complex. The State is to play a leadership role i

Journal number 1 ∘ Mamuka Khuskivadze ∘

Ecological Results of the COVID-19 Pandemic

DOI: 10.36172/EKONOMISTI.2021.XVII.01.Khuskivadze Expanded Summary For more than a year now, the world has been living in a state of Pandemic and the economic crisis caused by it. There are economic and ecological results of the Pandemic. The economic results are obviously unequivocally negative, while environmental ones are heterogeneous. Coronomic crisis has clearly improved the composition of the air at the expense of reducing emissions of greenhouse gases and other harmful substances, but at the same time has slowed down and delayed implementation of various ecological projects. In the research we have highlighted ecological aspect of economic crisis. We analyzed the ecological outcomes of Covid-19 pandemic and suggested activities to maintain a positive trend in the world and Georgia. Key words: Coronavirus Pandemic, Ecological Results, Greenhouse GasEmission, Environment Components, Climate Change. The worldwide spread of the Covid-19 virus from China caused a new econo

Journal number 1 ∘ Zurab Garakanidze ∘

The demonopolization of the gas market should not be stopped by the Turan Gate

DOI: 10.36172/EKONOMISTI.2021.XVII.01.GARAKANIDZE Expanded Summary The last link of the EU "Southern Gas Corridor" completed on December 31, 2020. This completes the preparatory phase of the latest project of the EU's most important corridor to Georgia - the Trans-Adriatic Pipeline (TAP), which started in early November 2020 and began the alternative delivery of the Azerbaijani Shah Deniz pipeline to Russia, an alternative delivery of Russian Gazprom to Europe. The RF energy policy have planned against this goal for the last 30 years, and it is likely that the popularization of the idea of the "Turan Gate" activated after the Karabakh conflict will be directed against the energy corridor to Georgia. In this article, we want to show you the process of creating an "energy corridor" full of these contradictions and highlight some new challenges that the "corridor" is likely to face in the process of functioning. Prior to the start of regional trans-Caspian projects, a fully

Journal number 1 ∘ Valeri Arghutashvili ∘

Business studies issues in the context of regional development Case in Georgia

DOI: 10.36172/EKONOMISTI.2021.XVII.01.ARGHUTASHVILI Annotation. Education and science and their high quality are strategically important for the sustainable economic development of any country. The development of the quality of education contributes to the increase of the welfare of the country, which is a necessary precondition for the development of a person's personal, professional life and, in general, for society. In 2005, Georgia formally joined the Bologna Process and aimed to integrate into the European educational space by reforming its education system. Thus, fundamentally changed approaches to university education; New educational programs have been developed. The paper mainly studies the regional potential of Georgia in this direction.Despite in-depth reforms and investments made, many issues remain to be addressed, including the link between education and the labor market and the development of entrepreneurial skills at the higher education level.Key W

Journal number 1 ∘ Rusudan Kvaratskhelia ∘ Levan kikilashvili ∘

Green Business - For Health Promotion

DOI: 10.36172/EKONOMISTI.2021.XVII.01.KVARATSKHELIA.KIKILASHVILI Expanded Summary "Greening" modern business, taking into account the principles of eco-friendliness is an important opportunity to increase the goodwill of the business, to increase demand for the product, and create more economic wealth. The introduction of "green" technologies in business is a particularly growing trend in the modern world. Businesses strive to adhere to international eco-standards in order to effectively respond to customer-specific requirements, enter the global marketplace, and establish a firm foothold. The number of "green" economic entities is growing every year. Most of them inform the public that they use environmentally safe technologies, the product manufactured by them does not contain life-threatening, harmful to human health, environmental pollutants. Recently, the tendency to create a "green" environment in offices has been established in the world. This is one of the m

Journal number 1 ∘ Nana Adeishvili ∘

PERSPECTIVES OF INDUSTRIAL POLICY IN GEORGIA

DOI: 10.36172/EKONOMISTI.2021.XVII.01.ADEISHVILI Expanded Summary The role of the industrial policy in Georgia becomes increasingly important as its economic growth has slowed down in the last decade, mostly as a result of lower productivity growth. Nevertheless, the industrial policy still gets very little attention in the Georgian economic literature. The paper gives the short history and the review of the debate in the world economic literature and what the important findings that were made. The purpose of the paper is to discuss the case of Georgia and to suggest that the conducted studies may not be sufficient to shape the industrial policy recommendations. Various geopolitical, economic, demographic, etc., factors create various states of market failure, which imply that there is no one-size-fits-all approach, even if the binding constraints to competitiveness and key sectors of different countries seem similar. Key words: Georgia,industrial policy, export divers

Journal number 1 ∘ Zhala Rahman Alieva ∘

ANALYSIS OF SOME SOCIAL FACTORS AFFECTING THE STANDARD OF LIVING OF THE RURAL POPULATION OF THE REPUBLIC OF AZERBAIJAN

DOI: 10.36172/EKONOMISTI.2021.XVII.01.ALIEVA Expanded Summary The article "Analysis of some social factors affecting the standard of living of the rural population in the Republic of Azerbaijan" are considered factors such as education, health, pensions, social assistance. It is noted that the high level of education increases the possibilities of income of the population. This, in turn, positive effect on raising the standard of living of the population. Analysis Materials of the Survey of Households of the Statistical Committee of the Republic of Azerbaijan shows that the monetary income of the head of household households with higher education was higher compared with the head of households with initial and incomplete education. The same result can be seen when comparing their consumer spending. For this reason, it is necessary to solve problems related to the formation of in rural areas. Measures are taken to improve the quality of education within the programs adopte

Journal number 1 ∘ Davit Keshelava ∘

Exchange Rate Regimes and Calvo-Reinhart Fear of Floating Index, Case Study of Georgia

Expanded Summary Globalization of product and financial markets, and increasing economic reliance of countries make it important for monetary policymakers to choose an appropriate exchange rate regime, which will guarantee achieving and maintaining macroeconomic stability without harming economic growth significantly. According to the literature, different forms of floating and fixed exchange rate regimes have some advantages and disadvantages, and the choice in favor of them depends on the structure of the country’s economy, international economic and political relationships with the partner countries, and the level of financial development. However, adopting the managed floating or fixed exchange rate regimes (currency board, crawling peg, etc.) requires meeting the conditions of an optimal currency area proposed by Robert Mundell [Mindell, 1961]: 1) the participating countries should have similar business cycles; and 2) countries should have high level of labour and capital m

Journal number 1 ∘ Nino Lobzhanidze ∘

The Impact of Coronavirus (Covid-19) on the Water Industry: Main Challenges Facing the World and Georgia

DOI: 10.36172/EKONOMISTI.2021.XVII.01.LOBZHANIDZE Expanded summary The article analyzes the economic consequences caused by the coronavirus. There is discussed the crisis that is not a classic type, but a qualitatively new global economic one, because its causes are not endogenous, but exogenous, that is, when these causes are generated not in the economy, but provoked by a source outside the economy – from the medical sector.With the use of modern technologies, the processes in the real world have shifted somewhat to the electronic mode, however, in a number of economic sectors this change requires a great deal of resources and a long period of time to adapt or may not be possible to be implemmented at all. Particular attention is paid to the main problems of the water sector, both worldwide and in Georgia. The study highlights three main challenges: 1. the problems in the field of water consumption and supply; 2. Delayed working processes of companies providing

Journal number 1 ∘ Davit Keshelava ∘

Peculiarities of currency crises in Georgia

DOI: 10.36172/EKONOMISTI.2021.XVII.01.KESHELAVA Expanded summary Under the Bretton Woods and Gold Standard international currency systems, currency crises were quite rare events. There were several leading currencies all around the world, and the system experienced major fluctuations only due to the large-scale events, such as the Great Depression and World War II. After the collapse of the Bretton Woods system, most of the countries switched to the fiat money system, and hence, the stability of a single currency became dependent on the economic and political situation of a specific country. In addition, globalization and the increasing trend of economic integration of the countries makes it even more difficult to maintain stability of the national currency. As a result, the cases of the currency crises become more frequent in the 20th century, and several global crises have already occurred in the beginning of the 21th century. Thus, it is quite important to predict the episo

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 1 ∘ Ramaz Abesadze ∘ Nana Bibilashvili ∘ Problems of environmental protection in the EU DOI: 10.36172/EKONOMISTI.2021.XVII Annotation. The European Union plays a major role in solving the world's environmental problems. The paper examines nature protection policies and legislation in the EU; EU Environmental Action Programs and EU environmental institutions Keywords: The European Union; Sustainable development; Environmental protection; Environmental policy; Maastricht Treaty; Amsterdam Treaty. Introduction One of the global problems of the XXI century is the problem of environmental protection. In the past, nature was used to meet the growing needs of human beings without any restrictions, which brought humanity to the brink of disaster. It is necessary to make fundamental changes in all elements of the economic system in order to avoid global environmental problems. At the present stage all over the world, individual countries, international organizations are looking for ways out of this impasse. Examples of this are the setting and implementation of su Journal number 1 ∘ Paata Koguashvili ∘ Gega Baghaturia ∘ PUBLIC-PRIVATE RELATIONSHIP IN AGRICULTURE DOI: 10.36172/EKONOMISTI.2021.XVII.01.Koguashvili.Baghaturia Expanded Summary The paper describes the main reasons for the underdevelopment of the country’s agricultural sector. Taking into consideration these reasons and current realities, it is necessary to find a mechanism of the new relationships between the State and business, through which it will be possible to ensure the recovery of this sector and its subsequent innovative development. The argument was made for triggering the mechanism of public-private partnership in agro-industrial complex. The relevance of the research stems from the need to introduce the mechanism of public-private partnership in agro-industrial complex of Georgia, and so to contribute to expanding the resource base in mutually favorable conditions for the State and business, as well as to target unutilized resources at sustainable development of agro-industrial complex. The State is to play a leadership role i Journal number 1 ∘ Mamuka Khuskivadze ∘ Ecological Results of the COVID-19 Pandemic DOI: 10.36172/EKONOMISTI.2021.XVII.01.Khuskivadze Expanded Summary For more than a year now, the world has been living in a state of Pandemic and the economic crisis caused by it. There are economic and ecological results of the Pandemic. The economic results are obviously unequivocally negative, while environmental ones are heterogeneous. Coronomic crisis has clearly improved the composition of the air at the expense of reducing emissions of greenhouse gases and other harmful substances, but at the same time has slowed down and delayed implementation of various ecological projects. In the research we have highlighted ecological aspect of economic crisis. We analyzed the ecological outcomes of Covid-19 pandemic and suggested activities to maintain a positive trend in the world and Georgia. Key words: Coronavirus Pandemic, Ecological Results, Greenhouse GasEmission, Environment Components, Climate Change. The worldwide spread of the Covid-19 virus from China caused a new econo Journal number 1 ∘ Zurab Garakanidze ∘ The demonopolization of the gas market should not be stopped by the Turan Gate DOI: 10.36172/EKONOMISTI.2021.XVII.01.GARAKANIDZE Expanded Summary The last link of the EU "Southern Gas Corridor" completed on December 31, 2020. This completes the preparatory phase of the latest project of the EU's most important corridor to Georgia - the Trans-Adriatic Pipeline (TAP), which started in early November 2020 and began the alternative delivery of the Azerbaijani Shah Deniz pipeline to Russia, an alternative delivery of Russian Gazprom to Europe. The RF energy policy have planned against this goal for the last 30 years, and it is likely that the popularization of the idea of the "Turan Gate" activated after the Karabakh conflict will be directed against the energy corridor to Georgia. In this article, we want to show you the process of creating an "energy corridor" full of these contradictions and highlight some new challenges that the "corridor" is likely to face in the process of functioning. Prior to the start of regional trans-Caspian projects, a fully Journal number 1 ∘ Valeri Arghutashvili ∘ Business studies issues in the context of regional development Case in Georgia DOI: 10.36172/EKONOMISTI.2021.XVII.01.ARGHUTASHVILI Annotation. Education and science and their high quality are strategically important for the sustainable economic development of any country. The development of the quality of education contributes to the increase of the welfare of the country, which is a necessary precondition for the development of a person's personal, professional life and, in general, for society. In 2005, Georgia formally joined the Bologna Process and aimed to integrate into the European educational space by reforming its education system. Thus, fundamentally changed approaches to university education; New educational programs have been developed. The paper mainly studies the regional potential of Georgia in this direction.Despite in-depth reforms and investments made, many issues remain to be addressed, including the link between education and the labor market and the development of entrepreneurial skills at the higher education level.Key W Journal number 1 ∘ Rusudan Kvaratskhelia ∘ Levan kikilashvili ∘ Green Business - For Health Promotion DOI: 10.36172/EKONOMISTI.2021.XVII.01.KVARATSKHELIA.KIKILASHVILI Expanded Summary "Greening" modern business, taking into account the principles of eco-friendliness is an important opportunity to increase the goodwill of the business, to increase demand for the product, and create more economic wealth. The introduction of "green" technologies in business is a particularly growing trend in the modern world. Businesses strive to adhere to international eco-standards in order to effectively respond to customer-specific requirements, enter the global marketplace, and establish a firm foothold. The number of "green" economic entities is growing every year. Most of them inform the public that they use environmentally safe technologies, the product manufactured by them does not contain life-threatening, harmful to human health, environmental pollutants. Recently, the tendency to create a "green" environment in offices has been established in the world. This is one of the m Journal number 1 ∘ Nana Adeishvili ∘ PERSPECTIVES OF INDUSTRIAL POLICY IN GEORGIA DOI: 10.36172/EKONOMISTI.2021.XVII.01.ADEISHVILI Expanded Summary The role of the industrial policy in Georgia becomes increasingly important as its economic growth has slowed down in the last decade, mostly as a result of lower productivity growth. Nevertheless, the industrial policy still gets very little attention in the Georgian economic literature. The paper gives the short history and the review of the debate in the world economic literature and what the important findings that were made. The purpose of the paper is to discuss the case of Georgia and to suggest that the conducted studies may not be sufficient to shape the industrial policy recommendations. Various geopolitical, economic, demographic, etc., factors create various states of market failure, which imply that there is no one-size-fits-all approach, even if the binding constraints to competitiveness and key sectors of different countries seem similar. Key words: Georgia,industrial policy, export divers Journal number 1 ∘ Zhala Rahman Alieva ∘ ANALYSIS OF SOME SOCIAL FACTORS AFFECTING THE STANDARD OF LIVING OF THE RURAL POPULATION OF THE REPUBLIC OF AZERBAIJAN DOI: 10.36172/EKONOMISTI.2021.XVII.01.ALIEVA Expanded Summary The article "Analysis of some social factors affecting the standard of living of the rural population in the Republic of Azerbaijan" are considered factors such as education, health, pensions, social assistance. It is noted that the high level of education increases the possibilities of income of the population. This, in turn, positive effect on raising the standard of living of the population. Analysis Materials of the Survey of Households of the Statistical Committee of the Republic of Azerbaijan shows that the monetary income of the head of household households with higher education was higher compared with the head of households with initial and incomplete education. The same result can be seen when comparing their consumer spending. For this reason, it is necessary to solve problems related to the formation of in rural areas. Measures are taken to improve the quality of education within the programs adopte Journal number 1 ∘ Davit Keshelava ∘ Exchange Rate Regimes and Calvo-Reinhart Fear of Floating Index, Case Study of Georgia Expanded Summary Globalization of product and financial markets, and increasing economic reliance of countries make it important for monetary policymakers to choose an appropriate exchange rate regime, which will guarantee achieving and maintaining macroeconomic stability without harming economic growth significantly. According to the literature, different forms of floating and fixed exchange rate regimes have some advantages and disadvantages, and the choice in favor of them depends on the structure of the country’s economy, international economic and political relationships with the partner countries, and the level of financial development. However, adopting the managed floating or fixed exchange rate regimes (currency board, crawling peg, etc.) requires meeting the conditions of an optimal currency area proposed by Robert Mundell [Mindell, 1961]: 1) the participating countries should have similar business cycles; and 2) countries should have high level of labour and capital m Journal number 1 ∘ Nino Lobzhanidze ∘ The Impact of Coronavirus (Covid-19) on the Water Industry: Main Challenges Facing the World and Georgia DOI: 10.36172/EKONOMISTI.2021.XVII.01.LOBZHANIDZE Expanded summary The article analyzes the economic consequences caused by the coronavirus. There is discussed the crisis that is not a classic type, but a qualitatively new global economic one, because its causes are not endogenous, but exogenous, that is, when these causes are generated not in the economy, but provoked by a source outside the economy – from the medical sector.With the use of modern technologies, the processes in the real world have shifted somewhat to the electronic mode, however, in a number of economic sectors this change requires a great deal of resources and a long period of time to adapt or may not be possible to be implemmented at all. Particular attention is paid to the main problems of the water sector, both worldwide and in Georgia. The study highlights three main challenges: 1. the problems in the field of water consumption and supply; 2. Delayed working processes of companies providing Journal number 1 ∘ Davit Keshelava ∘ Peculiarities of currency crises in Georgia DOI: 10.36172/EKONOMISTI.2021.XVII.01.KESHELAVA Expanded summary Under the Bretton Woods and Gold Standard international currency systems, currency crises were quite rare events. There were several leading currencies all around the world, and the system experienced major fluctuations only due to the large-scale events, such as the Great Depression and World War II. After the collapse of the Bretton Woods system, most of the countries switched to the fiat money system, and hence, the stability of a single currency became dependent on the economic and political situation of a specific country. In addition, globalization and the increasing trend of economic integration of the countries makes it even more difficult to maintain stability of the national currency. As a result, the cases of the currency crises become more frequent in the 20th century, and several global crises have already occurred in the beginning of the 21th century. Thus, it is quite important to predict the episo