Journal number 3 ∘ Tariyel Musallim Qurbanov ∘ Asif Mirlazim Mustafayev ∘ Ilkin Ramiz Bayramov ∘

Currency regulation problems of cyclical development in the economy of Azerbaijan

DOI : 10.36172/EKONOMISTI.2024.XX.03.QURBANOV.MUSTAFAYEV.BAYRAMOV Summary The presented article examines the main features of currency regulation in the process of ensuring cyclic development. First of all, the essence of cyclical development for the modern period and the main economic indicators in the process of its provision are noted. Undoubtedly, the quantitative and qualitative changes in the global economy in recent years have created certain complexities in the inter-cycle interactions of cyclic development. In this regard, the article focuses on this factor and highlights the conditions for its provision for the Azerbaijani economy. The main emphasis is placed on currency issues. The main reason for this is that over the past 10 years there has been several devaluation processes in the Azerbaijani economy and its consequences are heavy for the economy. Therefore, the article tries to find an inter-cycle relationship of cyclic development and evaluates i

Journal number 3 ∘ Paata Koguashvili ∘ Badri Ramishvili ∘

Prospects of Meat Production in Georgia

DOI: 10.36172/EKONOMISTI.2024.XX.03.KOGUASHVILI.RAMISHVILI Summary The rate of meat consumption can be used to judge the economic development of this or that country. World practice confirms that the meat consumption indicator is one of the most important indicators of human well-being. If the population of a particular country is not vegetarian due to food traditions and the rate of meat consumption there is low, then it can be said unequivocally that this country cannot boast of the level of economic development, and on the contrary, a high rate of meat consumption indicates a good state of socio-economic development. An essential condition for the growth of meat production is that, depending on the food culture of the country's population, this product should be significantly present in its diet. However, this is not enough. It is also necessary that the country has sufficient resources for the development of animal husbandry. If these two conditions exist, then it wil

Journal number 3 ∘ Tea Lazarashvili ∘ Irine Mamaladze ∘

INTERNATIONAL INITIATIVES IN THE "BLUE ECONOMY"

DOI: 10.36172/EKONOMISTI.2024.XX.03.LAZARASHVILI.MAMALADZE Expanded Summary "Blue economy" is aimed at the sustainable development of sectors related to the use of the resources of the world's oceans and seas, and implies the world's aspiration to achieve a balance between further economic growth, ensuring the social well-being of the Earth's population, and ecological security. Irrational use of the living environment always leads to the destruction of other "services" or valuable resources. In order to ensure the sustainable use of coastal and marine resources, it is important to determine and analyze the relationship between ecosystems, economic activities, and climate change processes. That is why in the process of work of international organizations and the formation of the national development strategy, the issue of the development of the "blue economy" occupies an important place, which cannot be implemented without international initiatives in this field. Oceans offer

Journal number 3 ∘ Aytakin Gasan Akhundova ∘

SWOT ANALYSIS OF EVENT TOURISM DEVELOPMENT IN THE REPUBLIC OF AZERBAIJAN

Expanded Summary Over the past decades, tourism has become a mass phenomenon, covering all corners of the planet, there is a significant increase in the number of international trips, as well as the formation of new trends in the development of this area. Statistics confirms the steady growth of tourism, emphasizing its important role in global economic development. Compared to 1950, people today began to travel 52 times more. And this became possible due to rapid economic development, overall growth in income, increased free time, expansion of air traffic and simplification of visa procedures. In particular, according to the World Tourism Organization (WTO), in 1950 the number of tourists was 25 million, and tourism revenue was $ 2.1 billion. By the beginning of the 21st century - in 2000, the number of tourists reached 698 million, tourism revenue - more than $ 476 billion, international tourism accounted for 11% of the world's GDP and about 10% of jobs. And in 2023, according to th

Journal number 3 ∘ Mirzayeva Ayan Ibrahim ∘

ECONOMETERİC ANALYSİS OF KEY ECONOMİC İNDİCATORS İN THE TOURİSM SECTOR OF THE REPUBLİC OF AZERBAİJAN.

Abstract. This research paper analyzes the relationship between the share of value added in the service sectors of the Azerbaijani economy in GDP (Y) and the volume of investments made in tourism-related sectors (X1), the number of foreigners and stateless persons accommodated in hotels and hotel-type establishments (X2), and the number of overnight stays by foreigners and stateless persons in hotels and hotel-type establishments (X3). Using the Eviews8 application software package, a regression model was constructed, graphical representations were analyzed, the correlation coefficient and descriptive statistics were calculated, and stationarity was investigated using the Dickey-Fuller test. Additionally, the presence of autocorrelation between the levels of time series was examined. The existence of heteroskedasticity in the constructed model was investigated using the White test. Keywords: econometric model, regression equation, F-Fisher criterion, T-Student criterion, correlation c

Journal number 3 ∘ Tengiz Verulava ∘

The role of information in shaping human behavior

DOI:10.36172/EKONOMISTI.2024.XX.03.VERULAVA Expanded Summary In a world full of information, it is important to study the changing influence of information on human behavior and decision making. Human life is a complex maze of numbers, graphs and variables. Information can guide our choices, influence our decisions. However, the influence of information is not always beneficial. Sometimes information misleads people, distorts our perception of the real world, and puts us in certain ideological frameworks. Information can lead us to decisions that we may not choose voluntarily. The purpose of the article is to explore the critical role that information plays in shaping human behavior. Accessible and relevant information has a significant impact on behavior change. There is a need to develop effective information strategies to create an environment of trust and high involvement in the community. Keywords: information, human behavior, information management, fake news.

Journal number 3 ∘ Mzia Shelia ∘ Natia Chelidze ∘

On the improvement of the population census

DOI:10.36172/EKONOMISTI.2024.XX.03.SHELIA.CHELIDZE Expanded Summary The programs of the general population census need to be amended appropriately, taking into account the mistakes made during the previous censuses, which more or less always occurred in the population census programs conducted in Georgia. Taking into consideration the demographic situation that deteriorated dramatically in the 1990s, the questions "about the expected number of children" and "about religious affiliation" were included in the questionnaire of the 2002 census, and "about health" in the questionnaire of the 2014 census. At the same time, based on the demand for socio-economic development of the country, in the same year, an agricultural census was conducted in parallel with the general population census that qualitatively worsened the information about the population. The same activity is planned to be carried out for the 2024 census. It is known that in ancient times (historically) population censuses

Journal number 3 ∘ Alexander Sharashenidze ∘

Demand for Healthcare Services and Opportunities for Enhancing the Efficiency of Medical Institutions: A Case Study of Georgia

DOI: 10.36172/EKONOMISTI.2024.XX.03.SHARASHENIDZE Expanded Summary This article presents an extensive analysis of Georgia’s healthcare system, with particular emphasis on hospital capacity standards, healthcare delivery, and the associated challenges faced by both public and private healthcare sectors. The research delves into multiple factors that influence healthcare delivery, including population distribution, urban-rural healthcare disparities, the aging demographic, healthcare infrastructure, and the accessibility and availability of medical professionals across the country. These elements are critical in shaping the overall efficiency, equity, and sustainability of Georgia’s healthcare system. In recent years, Georgia has undergone substantial demographic changes, with a significant increase in its elderly population. This shift, coupled with ongoing healthcare reforms and population growth, has put pressure on the healthcare system to adapt to emerging needs

Journal number 3 ∘ EKATERINE SHAINIDZE ∘

Effectiveness of higher education state financing budget programs

DOI: 10.36172/EKONOMISTI.2024.XX.03.SHAINIDZE Summary State financing of higher education occupies an important place in the public good created by the state for the population of the country. It ensures the constitutional right of a person - to receive higher education with state financing. Budgetary funds spent by the state in financing higher education affect various directions of socio-economic development of the country. In the mentioned process, great importance is attached to the correct determination of funding directions and the achievement of results. State funding programs for higher education in Georgia are reflected both in the state budget and in the republican and municipal (local) budgets of the Autonomous Republic. Funding objectives are defined in the respective programs, and the achieved results are reflected in the budget performance reports. It is important to note that from 2013 to 2022, the amount of funding for higher education in the state budget

Journal number 3 ∘ Lela Jamagidze ∘

Development of the Industrial Sector in the EU and the Candidate Countries

DOI: 10.36172/EKONOMISTI.2024.XX.03.JAMAGIDZE Expanded Summary Industrial sector affects economic development in multiple directions. Although currently services take the largest share of the employment and GDP in developed economies, their growing interest towards industrialization and industrial policy issues is obvious. Industrialization is also present in the development global agenda, as it is included in Sustainable Development Goals. Because of its close connections with other sectors of the economy, industry and especially manufacturing makes a positive influence on productivity, employment and economic growth. Many innovations and technologies emerge in industrial sectors and have spillover effects on other branches of the economy, including services. Another advantage of industrial development in related to diversification, which makes an economy more resilient against internal or external shocks. In the EU industry accounts approximately 20% of the econo

Journal number 3 ∘ Sopio Machkhashvili ∘

The Impact of the Covid-19 Pandemic on Corporate Social Responsibility in Georgia

Expanded Summary At the current stage, corporate social responsibility (CSR) is a globally important and relevant issue. Strategic CSR is not only an effective tool for gaining a competitive advantage for companies, but its role is also widely recognized in sustainable development. The "Ten Principles of the UN Global Compact" serve as a fundamental standard for CSR. In Georgia, corporate social responsibility is still in the early stages of development; however, significant steps have been taken by businesses toward strategic CSR in recent years, which can be seen as a response to the COVID-19 pandemic. The pandemic has highlighted the necessity of considering the interests of all stakeholders and fulfilling the "Ten Principles of the UN Global Compact." This crisis has demonstrated the business sector's role in the welfare of society and the importance of responsible production. The article focuses on the statistical data from research conducted before and during the pandemic. Base

Journal number 3 ∘ Zurabi Abramishvili ∘

The potential of the National Bank of Georgia in the direction of sustainable financing and the possibilities of digital transformation at the modern stage.

Expanded Summary The National Bank of Georgia (NBG) is positioning itself at the intersection of sustainable finance and digital innovation, recognizing the potential synergies that can drive both economic growth and environmental stewardship. Through its comprehensive Sustainable Finance Roadmap, the development of a Sustainable Finance Taxonomy, the issuance of green bonds, and the exploration of Central Bank Digital Currencies (CBDC), the NBG is laying the groundwork for a future where finance contributes positively to sustainable development goals. The regulatory laboratory (reglab) and open banking initiatives further exemplify the NBG's commitment to fostering a dynamic and inclusive financial ecosystem. The reglab not only supports the incubation of green financial products but also ensures that these innovations meet stringent regulatory standards. Open banking, on the other hand, democratizes financial services, empowering consumers and encouraging the creation of pers

Journal number 3 ∘ Natia Lakia ∘

Prospects for Green Banking Development in Georgia: Regulations and Local Landscape

Expanded Summary For several decades, the financial system's consideration of environmental and social responsibilities has been a prominent topic in scientific literature. Climate changes threaten a sustainable way of life and prompt both developed and developing countries to take effective and rapid action. Green finance appears to be a solution, as the primary goal of sustainable financing is to support activities that contribute to environmental protection, the rational use of natural resources, and the promotion of social responsibility. Over the last decade, many developing countries have introduced green banking practices that facilitate the implementation of eco-friendly activities and positively impact various economic indicators. The financial crisis of 2008 highlighted the need for developing countries to modernize their financial systems. Introducing green banking practices emerged as one of the best solutions for achieving this modernization. The term "green

Journal number 3 ∘ Mariam Khorava ∘

Prospects for the Development of Economic Processes Amid Geopolitical Landscape of Georgia

Summary This article explores the path of Georgia’s European integration and economic development, analyzing current processes and future prospects. Initially, the article emphasizes the country’s strong European aspirations, which are enshrined in its constitution. These aspirations are supported by a vast majority of the population, providing a substantial impetus for advancing towards European Union membership. The article outlines the measures taken by Georgia in 2022 to obtain the status of an EU candidate country. Particular attention is given to the fight against corruption and the deoligarchization plan, which are identified as essential elements for Georgia's sustainable and inclusive development. In the context of geopolitics, the article reflects on Georgia’s strategic relationships with neighboring countries and its active participation in regional cooperation platforms. It also examines how this collaboration impacts the country’s economic develo

Journal number 3 ∘ Levan Khvedelidze ∘

Modern aspects of budgetary policy

Summary The previous article discusses the main directions of the state budget policy, the location of the budget process on the ground, the problems of the budget policy and ways to overcome them. The main directions, trends, modern situation, problems, aspects of the country's economic improvement and technological economic development, the importance of individual budget policy development and implementation are analyzed. In the economic development of any country, the formation of former budget policy. Georgia is not an exception in this regard. Development and application of social personnel budget policy in practice is one of the main prerequisites for the country's economic development. In the article, the state budget is discussed, specific measures and the structure of its completion are set. When drawing up the state budget, it is important to maintain transparency, during which the government of Georgia and spending institutions should allocate state resources according

Journal number 3 ∘ Natia Zhghenti ∘

Result and New Challenges of Environmental Policy of Local and Regional Authorities

Expanded Summary Effective multi-level governance, adopting a human rights-based approach to environmental protection and sustainable development, and ensuring that sustainable ecosystems are shared responsibilities of local, regional, and national authorities, parliaments, and governments for future generations. Citizens and NGOs around the world are demanding that governments at all levels implement more ambitious climate change mitigation measures and policies consistent with their human rights obligations. The recognition of the right to a safe and sustainable environment as a human right is increasingly reflected in international and national legislation. Many states have recognized and committed to ensuring the right to a healthy environment in their legislation. Environmental problems are becoming increasingly relevant in all spheres of economic, social, and political life. Environmental awareness has been steadily developing since the 1970s, and the sudden escalation of the c

Journal number 3 ∘ Gigi Elizbarashvili ∘

GEORGIA’S CONSUMER BASKET AND THE HARSH REALITY

Expanded Summary The standard of living of a population is measured by the consumer basket. Without analyzing this measure, it is impossible to discuss the level of economic development of a country. Food accounts for the largest share of the consumer basket of developing countries, followed by other important products and services. The more economically sustainable a country is, the larger portion of its population's consumer spending is directed toward entertainment, recreation, and dining out. According to IMF research, the median share of food in the consumer basket of developing countries is 31%, compared to 17% in developed countries. The purpose of this article is to analyze the consumer basket of Georgia. Tables indicating the shares and origins of products in each category are provided. Empirical analysis of these tables shows that, over the last 13 years, the largest share of consumption has been allocated to goods and services essential for modern life, including food, tra

Journal number 3 ∘ Giorgi Kepuladze ∘ Tamila Arnania-Kepuladze ∘

THE PARTICULARITIES OF JAPANS ECONOMIC DEVELOPMENT IN THE SECOND HALF OF THE 20TH CENTURY: HISTORICAL-ECONOMIC CONTEXT

Expanded Summary This article aims to consider the processes, that occurred in the Japanese economy in the second half of the 20th century and the factors that caused them. In the historical context, the paper discusses the peculiarities of the recovery of the Japanese economy after the Second World War, studies the specifics of the economic development in the 1970s, 1980s and 1990s, and identifies the factors that facilitate and restrain economic progress. The path of the Japanese economy's recovery in the second half of the 20th century was difficult and ambiguous but government support, an export-oriented strategy and the cultural particularities of Japanese society, which have been successfully integrated into Japan's unique economic model, allowed the country to become one of the world's leading economies. In the post-war period, a special form of business organisation emerged in Japan. This form of business organization was characterized by state-monopoly regulation, the presen