Journal number 2 ∘ Ramaz Abesadze ∘

Technological revolutions - the basis of economic development

10.36172/EKONOMISTI.2021.XII.02.RAMAZ.ABESADZE annotation. Often economic processes are studied without technological changes, while technological changes have the greatest impact on the economy, business cycles, and so on. The article discusses the technological changes that have taken place on earth, which have had the greatest impact on the development of the economy and of humanity in general. Keywords: technological revolution, "Neolithic" revolution, "electrical" revolution, "information" revolution, "agrarian" revolution. Introduction One of the most active parts of the economic system is technology. The perfection of technology has a huge impact on the economy, especially technological revolutions. During the technological revolution, fundamental changes take place in the process of public production. At this time, completely new means of production are emerging in the arena, which lead to the most progressive fusion of elements of the economic system and contr

Journal number 2 ∘ Anna Chechel ∘ Maryna Zelinska ∘ Kateryna Zmytrovych ∘

Analysis of current trends in the personnel management systems development in the world and Ukraine

10.36172/EKONOMISTI.2021.XVII.02.CHECHEL.ZELINSKA.ZMYTROVYCH Annotation. The article investigates the main modern trends in personnel management systems development. It analyses the foreign experience of using the latest management practices and their application in Ukraine. The interrelation between HR trends, their dependence on a social and economic situation, and their influence on the enterprises have been determined. The authors identify the global trends seen as the most promising for implementation at Ukrainian enterprises to improve their performance. Key words: personnel management, trends, technology, human resources, development. Introduction. Due to various objective and subjective reasons, such as economic development, globalisation, culture, competition, instability, etc., there is no unified approach to human resources management in global management practice. At the same time, the current society tendencies determine the emergence of specific trends in th

Journal number 2 ∘ Murman Tsartsidze ∘ Natela Latsabidze ∘ Shota Gabadadze ∘

Unemployment insurance system in developed countries

10.36172/EKONOMISTI.2021.XVII.02.Tsartsidze.Latsabidze.Gabadadze Expanded Summary Analyzed in the work peculiarities of functioning the unemployment insurance system in economically developed countries. In this field has been studied the international practice of administration, rated the amount of allowance issued under the unemployment insurance mechanism, appointment prerequisites, period of issuance and duration, sources of funding formation, legislative bases of regulation. The focus is about, context of the global financial and economic crisis caused by the pandemic, about changes in the unemployment insurance mechanism, in a separate country. Substantiated the necessity of forming an unemployment insurance system in Georgia and expediency of sharing best practices tested abroad – considering of the country socio-economic development and the peculiarities of the functioning labour market. Key words: Labour market, active and passive politic, insurance of unemployme

Journal number 2 ∘ Evgeni Baratashvili ∘ Irma Baratashvili ∘ Leila Mamulashvili ∘

Innovative Activities in Modern Business

10.36172/EKONOMISTI.2021.XVII.02.E.Baratashvili.I.Baratashvili.L.Mamulashvili Annotation. There is two understanding for the definition of innovation. In one case, Innovation is seen as the result of a creative process for new product (technics, technologies, methods etc); on the other case, as a newly made merchandise, elements, approaches and the process of introducing principles instead of existing ones. The main sign of innovation in the market economy is the novelty of its consumer properties. The concept of innovation extends to a new product or service, innovation in organizational, financial, scientific research and other fields, any perfection that ensures cost savings and creates the conditions for such savings. Innovation arises from the use of scientific research and development results aimed at improving the process of industrial activity as well as legal and social relations in the fields of education, science and culture. Keywords: Innovation, business, market economy

Journal number 2 ∘ Murtaz Kvirkvaia ∘ Vasil Kikutadze ∘ Natia Daghelishvili ∘ Tamar Tavkhelidze ∘ Givi Gujaraidze ∘

Cooperation between Higher Education Institutions and Employers in Georgia[1]

10.36172/EKONOMISTI.2021.XVII.02.Kvirkvaia.Kikutadze.Daghelishvili.Tavkhelidze.Gujaraidze Abstract. Cooperation between higher education institutions and employers is at an early stage of development in Georgia. Inadequate level of cooperation leads to the difficulties in the employment of graduates and meeting the demands of the labor market. The current practices of cooperation need to be improved and some of the other aspects of effective cooperation should be perfected. The study revealed that different visions and incentives, the level of bureaucracy and insufficient time serve as hindering factors for cooperation. The study also confirmed that in some cases cooperation is not systematic; in addition, sometimes it is just a formality and cannot provide desirable outcomes. Although in Georgia there are some examples of successful multifaceted cooperation between higher education institutions and employers as well, the number of such cases is quite small and cannot affect the quali

Journal number 2 ∘ David Jalagonia ∘ Yuri Papaskua ∘ Givi Makalatia ∘

GEORGIAS ECONOMY BEFORE AND DURING THECOVID-19 PANDEMIC

10.36172/EKONOMISTI.2021.XVII.02.Jalagonia.Papaskua.Makalatia EXPANDED SUMMARY The COVID-19 epidemic has proved to be on the one hand a challenge and on the other hand, the beginning of new opportunities for the modern world. The pandemic, caused by the epidemic, together with the loss of human lives, has affected all public governance areas, shaken up the economic foundation of the society and has brought to the fore the problem of economic security, and most sharply revealed all weaknesses and gaps that the global integration processes have had. As a result, the prevailing political and socio-economic crisis has shown that the existing relationship between governance and the executive, including economic relations, must be fundamentally changed. Shock syndrome following Coronavirus cannot be avoided individually, but only through joint, focused, and coordinated efforts of the states. Georgia, as part of the world economic space, must actively participate in this process. This art

Journal number 2 ∘ Elisabed Baliashvili ∘

ONCE AGAIN ON THE MOUNTAIN TOURISM POTENTIAL OF GEORGIA

10.36172/EKONOMISTI.2021.XVII.02.Baliashvili Expanded Summary In the article - "Once again on the mountain tourism potential of Georgia" - as its title shows, it is discussed the potential for tourism development in Georgia in the context of its mountainous part - Svaneti, Khevsureti, Tusheti, Pshavi and other mountainous regions. A mountainous region is a geographical, economic and social entity whose terrain, climate, natural and cultural heritage, as well as socio-economic policies require the development and development of emergency rules of protection, and subsequently - the enactment. The mountainous regions of Georgia included 13 historical-ethnographic regions, which according to the current administrative-territorial division are mainly 3 regions (+ Zemo Svaneti and Tusheti), including 16 districts and 272 local (community-rural) administrative units. It should be noted, however, that such a division is conditional. Currently, according to the Law on Socio-Economic and Cu

Journal number 2 ∘ Natalia Dzidziguri ∘ Niko Chikhladze ∘

The Challenges of Coronomics in Georgia: Urban Context

10.36172/EKONOMISTI.2021.XVII.02.Dzidziguri.Chikhladze Resume: In the context of coronomics, when the world is faced with many dangers and challenges, special importance is attached to joint efforts, solidarity and the redistribution of competencies. In this regard, cities can also play an important role in taking measures to combat and prevent coronomics. It is clear that globalization has no alternative, and no country can cope with the COVID-19 pandemic, that the entire world is facing. Keywords: Pandemic, Coronomics, Batumi Municipality, Regulation Tools, Budget Revenues and Expenditures Introduction The outbreak of the novel coronavirus (COVID-19) has swept the world since early 2020, prompting the World Health Organization (WHO) to declare it a global pandemic. Events moved quickly - stock market swings were recorded, health systems were on the brink of collapse, countries were taking drastic measures, travel and social interac

Journal number 2 ∘ EKATERINE SHAINIDZE ∘

Impact of Taxpayer Information Mechanism by Tax Authorities on Tax Obligations

10.36172/EKONOMISTI.2021.XVII.02.SHAINIDZE Resume. One of the important components in the tax administration system is informing the taxpayers by the tax authorities. According to the Tax Code of Georgia, the obligations of the tax authorities clearly define the list of measures to be taken by them to inform the taxpayers. The aim of the research is to review, analyze, evaluate the effectiveness of the means defined by the law on taxpayers in Georgia and to develop relevant recommendations. Georgian tax legislation defines three main means of informing the taxpayer: a written explanation, a public decision and a preliminary decision. A written explanation has a recommendatory nature, besides it has no binding legal force and, therefore, it is not an effective means of informing taxpayers that will be guarantee for the taxpayer to proper fulfillment of tax obligations. The public decision is issued by the order of the Minister of Finance, it promotes uniform approac

Journal number 2 ∘ Natia Kurdgelia ∘

THE IMPACT OF COVID-19 ON THE ACTIVITIES OF SMALL AND MEDIUM-SIZED ENTERPRISES IN GEORGIA

10.36172/EKONOMISTI.2021.XVII.02.Kurdgelia Abstract. The article considers the role of small and medium businesses in Georgia’s economy, and comparisons are made with different countries. The main part of the article is devoted to the impact of the COVID-19 pandemic on small and medium-sized businesses, the challenges posed by the pandemic and the role and importance of state aid programs for entrepreneurs. Key words: pandemic; coronomics; small and medium-sized businesses; financial liability. In the current context, small and medium enterprises play an important economic and social role. They are even called the backbone of the country's economy. The process of establishing a small business in Georgia has coincided with very difficult economic, political or social conditions, which were characterized by a number of special features. If the development of the market economy in developed countries started mostly with the establishment of small enterprises and then

Journal number 2 ∘ Nino Zhorzhikashvili ∘

Macroprudential and Monetary Policy Main Challanges

10.36172/EKONOMISTI.2021.XVII.02.Zhorzhikashvili Resume The global financial crisis 2008 once again raised the issue of more active use of macroprudential policies, as it became clear that microprudential policies and its regulations were not sufficient for financial stability. Prior to the global financial crisis, it was widely believed in academic circles, that there was a conflict (inflation / financial stability) between monetary policy and prudential policy, which justified the separation of monetary and prudential functions. Due to this approach, a significant trend of segregation of functions was observed in some countries. After the crisis, the weaknesses of this approach became clear and countries began to actively pursue macroprudential policies integrated with monetary policy. Prior to the global financial crisis, there was a widespread belief in academic circles around the world, including Europe, that price stability in 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 2 ∘ Ramaz Abesadze ∘ Technological revolutions - the basis of economic development 10.36172/EKONOMISTI.2021.XII.02.RAMAZ.ABESADZE annotation. Often economic processes are studied without technological changes, while technological changes have the greatest impact on the economy, business cycles, and so on. The article discusses the technological changes that have taken place on earth, which have had the greatest impact on the development of the economy and of humanity in general. Keywords: technological revolution, "Neolithic" revolution, "electrical" revolution, "information" revolution, "agrarian" revolution. Introduction One of the most active parts of the economic system is technology. The perfection of technology has a huge impact on the economy, especially technological revolutions. During the technological revolution, fundamental changes take place in the process of public production. At this time, completely new means of production are emerging in the arena, which lead to the most progressive fusion of elements of the economic system and contr Journal number 2 ∘ Anna Chechel ∘ Maryna Zelinska ∘ Kateryna Zmytrovych ∘ Analysis of current trends in the personnel management systems development in the world and Ukraine 10.36172/EKONOMISTI.2021.XVII.02.CHECHEL.ZELINSKA.ZMYTROVYCH Annotation. The article investigates the main modern trends in personnel management systems development. It analyses the foreign experience of using the latest management practices and their application in Ukraine. The interrelation between HR trends, their dependence on a social and economic situation, and their influence on the enterprises have been determined. The authors identify the global trends seen as the most promising for implementation at Ukrainian enterprises to improve their performance. Key words: personnel management, trends, technology, human resources, development. Introduction. Due to various objective and subjective reasons, such as economic development, globalisation, culture, competition, instability, etc., there is no unified approach to human resources management in global management practice. At the same time, the current society tendencies determine the emergence of specific trends in th Journal number 2 ∘ Murman Tsartsidze ∘ Natela Latsabidze ∘ Shota Gabadadze ∘ Unemployment insurance system in developed countries 10.36172/EKONOMISTI.2021.XVII.02.Tsartsidze.Latsabidze.Gabadadze Expanded Summary Analyzed in the work peculiarities of functioning the unemployment insurance system in economically developed countries. In this field has been studied the international practice of administration, rated the amount of allowance issued under the unemployment insurance mechanism, appointment prerequisites, period of issuance and duration, sources of funding formation, legislative bases of regulation. The focus is about, context of the global financial and economic crisis caused by the pandemic, about changes in the unemployment insurance mechanism, in a separate country. Substantiated the necessity of forming an unemployment insurance system in Georgia and expediency of sharing best practices tested abroad – considering of the country socio-economic development and the peculiarities of the functioning labour market. Key words: Labour market, active and passive politic, insurance of unemployme Journal number 2 ∘ Evgeni Baratashvili ∘ Irma Baratashvili ∘ Leila Mamulashvili ∘ Innovative Activities in Modern Business 10.36172/EKONOMISTI.2021.XVII.02.E.Baratashvili.I.Baratashvili.L.Mamulashvili Annotation. There is two understanding for the definition of innovation. In one case, Innovation is seen as the result of a creative process for new product (technics, technologies, methods etc); on the other case, as a newly made merchandise, elements, approaches and the process of introducing principles instead of existing ones. The main sign of innovation in the market economy is the novelty of its consumer properties. The concept of innovation extends to a new product or service, innovation in organizational, financial, scientific research and other fields, any perfection that ensures cost savings and creates the conditions for such savings. Innovation arises from the use of scientific research and development results aimed at improving the process of industrial activity as well as legal and social relations in the fields of education, science and culture. Keywords: Innovation, business, market economy Journal number 2 ∘ Murtaz Kvirkvaia ∘ Vasil Kikutadze ∘ Natia Daghelishvili ∘ Tamar Tavkhelidze ∘ Givi Gujaraidze ∘ Cooperation between Higher Education Institutions and Employers in Georgia[1] 10.36172/EKONOMISTI.2021.XVII.02.Kvirkvaia.Kikutadze.Daghelishvili.Tavkhelidze.Gujaraidze Abstract. Cooperation between higher education institutions and employers is at an early stage of development in Georgia. Inadequate level of cooperation leads to the difficulties in the employment of graduates and meeting the demands of the labor market. The current practices of cooperation need to be improved and some of the other aspects of effective cooperation should be perfected. The study revealed that different visions and incentives, the level of bureaucracy and insufficient time serve as hindering factors for cooperation. The study also confirmed that in some cases cooperation is not systematic; in addition, sometimes it is just a formality and cannot provide desirable outcomes. Although in Georgia there are some examples of successful multifaceted cooperation between higher education institutions and employers as well, the number of such cases is quite small and cannot affect the quali Journal number 2 ∘ David Jalagonia ∘ Yuri Papaskua ∘ Givi Makalatia ∘ GEORGIAS ECONOMY BEFORE AND DURING THECOVID-19 PANDEMIC 10.36172/EKONOMISTI.2021.XVII.02.Jalagonia.Papaskua.Makalatia EXPANDED SUMMARY The COVID-19 epidemic has proved to be on the one hand a challenge and on the other hand, the beginning of new opportunities for the modern world. The pandemic, caused by the epidemic, together with the loss of human lives, has affected all public governance areas, shaken up the economic foundation of the society and has brought to the fore the problem of economic security, and most sharply revealed all weaknesses and gaps that the global integration processes have had. As a result, the prevailing political and socio-economic crisis has shown that the existing relationship between governance and the executive, including economic relations, must be fundamentally changed. Shock syndrome following Coronavirus cannot be avoided individually, but only through joint, focused, and coordinated efforts of the states. Georgia, as part of the world economic space, must actively participate in this process. This art Journal number 2 ∘ Elisabed Baliashvili ∘ ONCE AGAIN ON THE MOUNTAIN TOURISM POTENTIAL OF GEORGIA 10.36172/EKONOMISTI.2021.XVII.02.Baliashvili Expanded Summary In the article - "Once again on the mountain tourism potential of Georgia" - as its title shows, it is discussed the potential for tourism development in Georgia in the context of its mountainous part - Svaneti, Khevsureti, Tusheti, Pshavi and other mountainous regions. A mountainous region is a geographical, economic and social entity whose terrain, climate, natural and cultural heritage, as well as socio-economic policies require the development and development of emergency rules of protection, and subsequently - the enactment. The mountainous regions of Georgia included 13 historical-ethnographic regions, which according to the current administrative-territorial division are mainly 3 regions (+ Zemo Svaneti and Tusheti), including 16 districts and 272 local (community-rural) administrative units. It should be noted, however, that such a division is conditional. Currently, according to the Law on Socio-Economic and Cu Journal number 2 ∘ Natalia Dzidziguri ∘ Niko Chikhladze ∘ The Challenges of Coronomics in Georgia: Urban Context 10.36172/EKONOMISTI.2021.XVII.02.Dzidziguri.Chikhladze Resume: In the context of coronomics, when the world is faced with many dangers and challenges, special importance is attached to joint efforts, solidarity and the redistribution of competencies. In this regard, cities can also play an important role in taking measures to combat and prevent coronomics. It is clear that globalization has no alternative, and no country can cope with the COVID-19 pandemic, that the entire world is facing. Keywords: Pandemic, Coronomics, Batumi Municipality, Regulation Tools, Budget Revenues and Expenditures Introduction The outbreak of the novel coronavirus (COVID-19) has swept the world since early 2020, prompting the World Health Organization (WHO) to declare it a global pandemic. Events moved quickly - stock market swings were recorded, health systems were on the brink of collapse, countries were taking drastic measures, travel and social interac Journal number 2 ∘ EKATERINE SHAINIDZE ∘ Impact of Taxpayer Information Mechanism by Tax Authorities on Tax Obligations 10.36172/EKONOMISTI.2021.XVII.02.SHAINIDZE Resume. One of the important components in the tax administration system is informing the taxpayers by the tax authorities. According to the Tax Code of Georgia, the obligations of the tax authorities clearly define the list of measures to be taken by them to inform the taxpayers. The aim of the research is to review, analyze, evaluate the effectiveness of the means defined by the law on taxpayers in Georgia and to develop relevant recommendations. Georgian tax legislation defines three main means of informing the taxpayer: a written explanation, a public decision and a preliminary decision. A written explanation has a recommendatory nature, besides it has no binding legal force and, therefore, it is not an effective means of informing taxpayers that will be guarantee for the taxpayer to proper fulfillment of tax obligations. The public decision is issued by the order of the Minister of Finance, it promotes uniform approac Journal number 2 ∘ Natia Kurdgelia ∘ THE IMPACT OF COVID-19 ON THE ACTIVITIES OF SMALL AND MEDIUM-SIZED ENTERPRISES IN GEORGIA 10.36172/EKONOMISTI.2021.XVII.02.Kurdgelia Abstract. The article considers the role of small and medium businesses in Georgia’s economy, and comparisons are made with different countries. The main part of the article is devoted to the impact of the COVID-19 pandemic on small and medium-sized businesses, the challenges posed by the pandemic and the role and importance of state aid programs for entrepreneurs. Key words: pandemic; coronomics; small and medium-sized businesses; financial liability. In the current context, small and medium enterprises play an important economic and social role. They are even called the backbone of the country's economy. The process of establishing a small business in Georgia has coincided with very difficult economic, political or social conditions, which were characterized by a number of special features. If the development of the market economy in developed countries started mostly with the establishment of small enterprises and then Journal number 2 ∘ Nino Zhorzhikashvili ∘ Macroprudential and Monetary Policy Main Challanges 10.36172/EKONOMISTI.2021.XVII.02.Zhorzhikashvili Resume The global financial crisis 2008 once again raised the issue of more active use of macroprudential policies, as it became clear that microprudential policies and its regulations were not sufficient for financial stability. Prior to the global financial crisis, it was widely believed in academic circles, that there was a conflict (inflation / financial stability) between monetary policy and prudential policy, which justified the separation of monetary and prudential functions. Due to this approach, a significant trend of segregation of functions was observed in some countries. After the crisis, the weaknesses of this approach became clear and countries began to actively pursue macroprudential policies integrated with monetary policy. Prior to the global financial crisis, there was a widespread belief in academic circles around the world, including Europe, that price stability in the