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Journal number 3 ∘ Vakhtang Burduli


10.36172/EKONOMISTI.2021.XVII.03.BURDULI Expanded Summary The article analyzes the statistics of the CSB of Georgia on the dissemination of innovations, considers several examples of the implementation of "basic" innovations in Georgia, considers the activities of the Georgian Agency for Innovations and Technologies for the dissemination of innovations and discusses regional problems of the diffusion of innovations through the organization of technoparks. In order to study the statistics of the diffusion of innovations in Georgia, it is first of all necessary to study modern views on the classification of types of innovations, as well as to systematically investigate the modern sectoral (sectoral and subsector) problems of the diffusion of innovations, which I have done in the article [Бурдули В., 2020]. In particular, this article shows that innovations are subdivided into basic and improving ones, subject and process innovations, according to the type of novelty at the ent
Journal number 3 ∘ Tabriz Abdulla Oğlu Yadigarov


10.36172/EKONOMISTI.2021.XVII.03.TABRIZ.ABDULLA.OGLU.YADIGAROV ABSTRACT  As part of the study, the Evievs software package compared and assessed the financial and economic activities of Azerbaijan Caspian Shipping Company CJSC and Baku International Sea Trade Port CJSC for 2014-2019. Here, using entropy, which is a measure of uncertainty, the potential for expanding freight traffic in the maritime transport sector over 31 years was determined, taking into account the volume and usefulness of information on freight traffic for the period 1990-2020. Also, according to the statements of Azerbaijan Caspian Shipping Company CJSC, the impact of the depreciation rate calculated on the linear depreciation method applied to ships for fixed assets in the amount of 25% was analyzed. The risk of capital investments in shares issued were assessed by “Oil Fleet” and CJSC “Baku International Sea Trade Port”.           
Journal number 3 ∘ Alirzayev Emin Ali

The problem of financial sustainability in the development of the pension system of Azerbaijan: the essence within the system and as the important direction of reforms

10.36172/EKONOMISTI.2021.XVII.03.ALIRZAYEV.EMIN.ALI Annotation: The article gives a brief overview of the problem of financial sustainability of the pension system which is an important direction for the development of modern pension systems in the prism of the pension system of Azerbaijan. The article discusses the place of financial sustainability as a problem in the development of a modern insurance and pension system in Azerbaijan and the main steps taken to ensure it, their decisive features and the results achieved. At the same time, the author assesses the main problems related to the financial sustainability of the insurance-pension system of Azerbaijan, as well as the areas that need to be taken into account in the further reforms to regulate the pension system in terms of financial sustainability.  Keywords: financial sustainability problem, financial sustainability of pension system, insurance-pension system, mandatory state social insurance contributions, mandatory s
Journal number 3 ∘ Zurab Garakanidze

Karabakh lessons for Georgias economic

10.36172/EKONOMISTI.2021.XVII.03.GARAKANIDZE Expanded Summary Eight months have passed since the Karabakh war, and there is not yet seen a publication on its possible positive or negative impact on the Georgian economy. This article is an attempt to intensify geoeconomic research on this topic, take political steps in the nearest future, etc. This year the events have developed so dynamically that it is already necessary to reflect the new political reality created in the South Caucasus, after the second so-called Karabakh conflict. This 44-day war, and also the recent elections in Armenia and Iran and the declaration of the withdrawal of US troops from Afghanistan by September 1, 2021 bring these new realities in region. The fact is that the newly elected government of Armenia does not hide that it will try to open transport communications with Azerbaijan and Turkey - construction of a new Megri-Tabriz railway corridor parallel to the Baku-Astara road to Iran. Therefore, Tehran is a
Journal number 3 ∘ Tea Kasradze

Digital Competition - A Significant Challenge for the Retail Banking Industry

10.36172/EKONOMISTI.2021.XVII.03.TEA.KASRADZE  Expanded Summary Each banking institution has a customer-oriented strategic plan, although the sudden emergence of competition does not allow them to relax. The explosion of new technologies and the rise in consumer demand have been putting pressure on banks since the 2008 recession. Retail banking customers are constantly expecting new, improved, affordable, convenient continuous service from the bank. In an environment of increasingly competitive, innovative financial services, banks need to be able to maintain not only customers but also brand awareness. The emergence of non-traditional financial service providers in the market such as FinTech, NEO Banks, Challenger Banks, BigTech, which reduces the relationship between banks and their customers, completely changes the banking industry. Today we face a new open ecosystem of consumers, traditional banks, FinTech and BigTech companies, regulators, developers, non-banking firms and
Journal number 3 ∘ Nona kavtaradze

Increased public debt and its impact on the Georgian economy

10.36172/EKONOMISTI.2021.XVII.03.NONA.KAVTARADZE Annotation The article presents the dynamics and structure of Georgian public debt statistics for 2010 -2020. The main reasons for the increase in foreign debt are identified. The article also discusses the dynamics of key indicators determining debt severity. Based on the complex analysis of these issues, proposals and recommendations have been developed the implementation of which we think will contribute to the improvement of Georgia's public debt management. Keywords: public debt, external public debt, domestic public debt, debt burden indicators. Issues related to the growth of public debt and its severity have gained special urgency in the light of the COVID-19 pandemic, the current socio-economic and geopolitical challenges. According to the Law on Public Debt of Georgia, public debt includes domestic and external debts of the country. The separation of domestic and external debt is based on the currency of debt denomination.
Journal number 3 ∘ Salome Silagadze

Aspects of Innovational Technology and Migration Management

10.36172/EKONOMISTI.2021.XVII.03.Salome.Silagadze Expanded Summary International migration is a source of important demographic changes globally. Hence, having relevant statistics and information can be a crucial asset for a country that is willing to further the development of migration management. Technology is considered to be a source of progress within the fourth industrial revolution. Online services and goods developed over the last decades has not only integrated technologies into business processes but it has also assisted to develop aspects of economic policies including migration control and procedures. According to the International Organization for Migration in 2020, there are 280.6 million migrants living around the world [IOM, 2021]. The number of international travelers has also been increasing throughout the years and in 2019, 2.28 billion tourists were recorded to be have travelled [World Bank, 2021]. Additionally, approximately 49% of world population have access
Journal number 3 ∘ Rusudan KvaratskheliaLevan kikilashvili

BIO Agro Eco-tourism as a basis for green business development in Georgia

10.36172/EKONOMISTI.2021.XVII.03.RUSUDAN.KVARATSKHELIA.LEVAN.KIKILASHVILI Resume Bio agri-tourism, in many countries around the world and Georgia at this stage, is successfully gaining a foothold. It is one direction of green business, an essential component, its strong pillar. The development of bio-agri-tourism as a green business can solve many rural, development-oriented farmers, restaurants, hotel businesses, tour operators, and those who care about promoting local natural or cultural wealth to attract tourists. The development of bio-agri-tourism can play a turning role in the development of tourism in the country, in the country's economy, diversity tours, and attracting more and more tourists from different parts of the world. It should also be noted that the development of bio-agritourism unequivocally poses less of a threat to the so-called loss caused by mass tourism, as it is a direction that includes the concept of environmental protection, love of nature, protection of
Journal number 3 ∘ Teimuraz Partskhaladze

Impact of Labor Structure on the Effectiveness of Audit Activities

10.36172/EKONOMISTI.2021.XVII.03.TEIMURAZ.PARTSKHALADZE Expanded Summary  Aim of the article is to identify and establish the impact of audit services, other than financial audit services, on increased total revenues and higher quality of service. The model attempted to assert two hypothesis. Hypothesis 1: other professional activity supports audit activity. Hypothesis 2: labor management affects audit revenues. For this purpose, we studied impact of labor structure on audit revenues and impact of revenues from other professional activities on audit revenues. The model attempted to assert two hypothesis. Hypothesis 1: other professional activity supports audit activity. Hypothesis 2: labor management affects audit revenues. For this purpose, we studied impact of labor structure on audit revenues and impact of revenues from other professional activities on audit revenues. Effectiveness of personnel employed in the field of audit is 3 times higher than the effectiveness of adminis

Assessment of the role of the state budget as a source of resources for sustainable development

10.36172/EKONOMISTI.2021.XVII.03.ELSHAN.ALI.OGLU.IBRAGIMOV Annotation. Regardless of the level of development and management system, each state faces certain tasks, one of which is to ensure sustainable economic development. In other words, since the emergence of states, their goals, tasks and functions have been formed. Of course, all this is non-standard in time and space, and differences and changes in this area are inevitable. In all cases, the state needs to have centralized funds to fulfill its political, organizational, legal, socio-economic tasks and functions. The main source of the centralized cash fund is the state budget. These factors make it an objective necessity to adopt the state budget as an economic category. In addition, in our time, the state budget is also one of the main financial guarantors of sustainable development of the national economy. The state budget, which is the material basis for the implementation of the tasks and functions of the state, occupies a