![]() Economics and Business
Referential and Reviewed International Scientific-Analytical Journal of Ivane Javakhishvili Tbilisi State University, Faculty of Economics and Business ![]() |
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Journal number 4 ∘ Journal N4, 2024 content
„ECONOMICS and BUZINESS“ VOLUM XVI, N3, 2024
C O N T E N T S
ECONOMIC THEORY ◊ ECONOMIC POLICY
DIGITAl ECONOMY
BUSINESS ◊ MANAGEMENT ◊ TOURISM
FINANCE and BANKING ◊ ACCAUNTING and AUDIT
SOCIOLOGICAL PROBLEMS
CRITICISM and BIBLIOGRAPHY
2024-12-27 Journal number 4 ∘ Gulnazi Erkomaishvili ∘ Eka Lekashvili ∘ lali khurtsia ∘ Consideration of Foreign Experience of hydrogen energy policy in the Georgian Economy doi.org/10.52340/eab.2024.16.04.01 journal N 4.2024 The paper presents the role of green hydrogen in the rational use of energy resources, as well as trends in the creation of infrastructure for its production. It is noted that the priority promotion of green hydrogen is the main priority of energy policy. It is an innovative project for the future and a competitive alternative to traditional fossil fuels.The purpose of the research is to study foreign experience in green hydrogen energy policy and take it into account in the economy of Georgia.The paper concludes that green hydrogen will help our country strengthen energy security and replace imported fuels, as it has a large untapped potential of renewable energy. Within the Eastern Partnership, Europe sees Georgia as an ally towards green hydrogen production. It is important that the country becomes self-sufficient in the use of hydrogen and has additional resources for export, not just transit - this is also the goal of export2024-12-27 Journal number 4 ∘ Lali Khikhadze ∘ Innovative Business State Regulation Policy and Its Supporting Institutions in Georgia doi.org/10.52340/eab.2024.16.04.02 Innovative business is a multi-stage and long-term process that starts with an idea, the next stages are research and development (engineering and construction work, testing, creation of prototypes, development of intellectual property strategy, first review of markets, selection of technology commercialization strategy) - commercialization - test release - full-scale Production - distribution - marketing. Each stage of this long and risky process is characterized by the peculiarities of the regulation of relations between the participants and the existence of risks for this stage.For Georgia, the development of innovative business is an opportunity to turn from an importing country into an exporting country of science-intensive products. The introduction of innovations in manufacturing business will not only increase the quality of manufactured products and reduce costs, but also create fundamentally new types of competitive products and services,2024-12-27 Journal number 4 ∘ zanda meskhidze ∘ Some Issues of Food Security in Georgia doi.org/10.52340/eab.2024.16.04.03 Food and economic security are fundamental pillars of sustainable development in the modern world. Against the backdrop of global challenges, including climate change, geopolitical tensions, and the aftermath of the pandemic, ensuring food security and achieving economic stability have become vital tasks for Georgia. In this context, the role of the business sector is crucial.This article examines the multifaceted role of business in ensuring food security and its impact on Georgia's economic security. It presents the innovative approaches and strategies that the business sector employs to improve food production, distribution, and supply chain management. The article also analyzes the role of state policy in supporting business and strengthening food security. Additionally, it highlights the main challenges and opportunities that exist in this field and presents the author's perspectives on overcoming them. Keywords: Food security; economic2024-12-27 Journal number 4 ∘ Demur Sitchinava ∘ Murtaz Maghradze ∘ Contemporary Problems and Development Prospects of Digitalization in the Field of Education in Georgia doi.org/10.52340/eab.2024.16.04.04 The digitalization of education has brought about a significant change in the educational process in general, both at the global and local levels. It has significantly enhanced the flexibility of teaching and the accessibility of knowledge worldwide. However, it has also revealed a number of new social and technological problems. Nevertheless, the digitalization of education is a necessary and inevitable process at the modern stage. The process of digitalization in general is the representation and processing of data necessary for the implementation of processes and procedures in any field of human activity in digital format, using artificial intelligence, big data, cloud computing, automation, etc.The process of digitization in the field of education is characterized by completely different features. It requires both virtual classrooms and LMS (Learning Management System) platforms, etc., which are necessary for the management and constant control2024-12-27 Journal number 4 ∘ Ineza Gagnidze ∘ Cluster - One of the Best Ways of Effective Digital Transformation doi.org/10.52340/eab.2024.16.04.05 The world economy is facing big challenges such as digital transformation, climate change, overproduction, large amount of waste, irrational use of non-renewable energy sources, etc. What these problems have in common is that solving them in one or a few countries cannot have a global effect and requires the joint efforts of all countries. Because of this, it is important to share the innovations and experiences introduced in developed countries around the world.The need for digital transformation and the covid pandemic has tested the resilience of clusters to the challenges. Clusters have provided a vital link between politicians and businesses in response to the pandemic. They have dealt with disruptions to supply chains and developed new manufacturing capabilities.Cluster organizations in the 27 EU countries are mainly focused on the digital, agri-food, healthcare, renewable energy and mobility/transport/automotive industries. They provide a wide2024-12-27 Journal number 4 ∘ Nino Abesadze ∘ Global Scale of Wellness Tourism and Statistical Trends of Its Development in Georgia doi.org/10.52340/eab.2024.16.04.06 During the last decade, among the types of tourism in the world, as well as in Georgia, the interest in wellness tourism, which consists of such important procedural components as spa, meditation, healing therapies, sports and healing activities, has increased in particular. Therefore, it is not surprising that public interest in researching these issues has increased.The aim of the paper is to highlight the global scale of wellness tourism in the world and the statistical trends of its development in Georgia and the relevant analysis.Methodology. In the research process, the methods of statistical observation, gathering-grouping and analysis, modern Georgian and foreign literature related to the research problem, materials of international peer-reviewed journals, the results of our research, etc. were used, sources.Results. Worldwide, wellness tourism is characterized by a growing trend. The pace of its development in Georgia is not very high,2024-12-27 Journal number 4 ∘ Nutsa Tokhadze ∘ Machine Learning and Econometric Approaches to FDI: FDI impact on Economic Growth in Georgia (1989-2023) doi.org/10.52340/eab.2024.16.04.07 The primary objective of this paper is to analyze the impact of Foreign Direct Investment (FDI) on GDP in Georgia by applying both econometric (VECM) and machine learning (Random Forest) techniques. The paper compares the results from these two approaches, draws reliable conclusions, and offers recommendations for the government. To the best of our knowledge, no existing studies have utilized the Random Forest algorithm to analyze the effect of FDI on GDP in Georgia, and this paper addresses that gap.The results from the VECM analysis show that FDI has a positive and statistically significant impact on GDP both in the short and long run. Similarly, the Random Forest model yields the same conclusion, with FDI demonstrating a positive effect, following the influence of gross capital formation. Based on these findings, the study offers recommendations to the Georgian government on strategies to attract more FDI and promote rapid economic2024-12-27 Journal number 4 ∘ Tinatini Loladze ∘ Transformational Innovational Mechanisms for Contemporary Entrepreneurial Practice doi.org/10.52340/eab.2024.16.04.08 The formation of innovative development of entrepreneurship refers to the processes and strategies that allow enterprises to gain increased competitive advantage through the creation, implementation and maintenance of new ideas, products, services and business models. The mechanism of innovative development involves the generation, implementation and maintenance of innovative ideas by entrepreneurs in the market, which allows for the systematic improvement of business processes.Monitoring of innovative development includes a systematic approach to tracking, assessing and managing innovative processes, which ensures the continuous development of the organization's innovative capabilities. Active participation in these processes is achieved using the modern innovative models discussed in the paper. Each model focuses on specific strategies that allow organizations to adapt to a rapidly changing business environment and create sustainable value.The2024-12-27 Journal number 4 ∘ Khatuna Barbakadze ∘ Financial Model of the Investment Project: Calculations and Evaluations doi.org/10.52340/eab.2024.16.04.09 The financial model allows us to analyze the profitability of the investment project, estimate the future value and formulate relevant decisions based on the received data. The financial model of an investment project is created not only for the reflection and analysis of future prospects, but also for the performance of various tasks [Tjia, 2018]. Since the construction of the model is based on hypotheses, it is necessary to update it regularly - based on real sales, revenues, expenses, etc. In general, the creation of a financial model involves usage of specialized software tools based on initial parameters, calculations and results. A financial model reflects the essence of a planned business, interconnected by financial forms. These forms should be structured and focused on the profit of the project, its cash flows, balance sheet. Financial models are different depending on the purpose of usage, basic principles, forecast period and various2024-12-27 Journal number 4 ∘ Nana Sreseli ∘ Basic Aspects of Accounting Methodology of Leasing Operations doi.org/10.52340/eab.2024.16.04.10 The International Financial Reporting Standard (IFRS) 16 Lease has changed the accounting and auditing practices with this lease operation worldwide. This article defines the basic principles of accounting methodology and auditing methodology. From January 1, 2019, the IFRS 16 Lease standard is effective and this standard alters the financial reporting system now it has offered the balance sheet for leases to arrange the data onto the single sheet of lessees. This transformation requires more knowledge of accounting and auditing methods in the case of the new leasing standard, IFRS. This shift defines how the leasing standard plays its role in developing financial statements and key performance. The article will explore the key transformation caused by the new leasing IFRS standard and the elimination of classical methods, including operating lease classification and all other lease agreements. In this article, we will investigate the2024-12-27 Journal number 4 ∘ Giga Pertia ∘ Impact of Tax System on Small Business - Foreign and Georgian experience doi.org/10.52340/eab.2024.16.04.11 In the conditions of the modern market economy, small business is given a very big advantage in the developed and developing countries of the world. It helps the economy of the country to overcome the difficult socio-economic situation, to maintain stability, to form the middle class of the population, etc. Along with a number of functions, the innovative economy in the country is developed through small businesses. It is the development of entrepreneurship and the increase in the number of registered small businesses that contribute to the reduction of the unemployment level, which in turn is one of the main prerequisites for overcoming the poverty level. As international practice testifies, small business represents more than 98% of private businesses registered in the country and in terms of employment, it is not inferior to large and medium-sized businesses in the entire industry. Therefore, the trends of the modern economy brought the role and2024-12-27 Journal number 4 ∘ Amiran Berdzenishvili ∘ Kakha Ketsbaia ∘ Development of Sociology in Georgia doi.org/10.52340/eab.2024.16.04.12 The article discusses the formation and development of sociology as a science studying society in Georgia. The contribution of Georgian scientists and public figures is shown. It is noted that Ivane Javakhishvili stands at the head of the University School of Sociology in Georgia, and Acad. Paata Gugushvili is one of the founders of the Academic School of Sociology.Sociology has been developing in Georgia since the beginning of the XX century, but the annexing of Georgia by Russia seriously impeded the development of sociology; Formation and development of sociology in Georgia: On 21st of July, 1902, a weekly newspaper “Kvali” printed in Tbilisi, informed Georgian society about founding a new science – sociology by a French positivist philosopher Comte (Kvali, 1902). It was how Georgian society learnt about sociology. From the aspect of the development of sociology, activities by a great Georgian writer Grigol Robakidze are worth2024-12-27 |