Collection of Scientific Papers

LEADING ROLE OF INNOVATION FOR SUSTAINABLE ECONOMIC DEVELOPMENT

Temur Maisuradze — 2021-04-04

The aim of this paper is to increase role of innovation and specification of its functions under the modern challenges, as the key factor for the sustainable political-economic and social development of countries, as well as the rational use of resources and sustainable environmental protection; As well as introducing new approaches as an opportunity to accelerate expanding the role of innovation.
In the definition of economic space of innovation, the objectives of sustainable development are also considered, as the implementation of the requirements of sustainable development objectives necessarily has both a spatial dimension of action and the dimension of environmental impact as a result of human activity. This implies both qualitative and quantitative spatial dimensions and an integral combination. In such approaches, direct economic interests change and it becomes clear who can create the hidden forces of contrary action that oppose targeted positive action.
At the same time, the set and agreed global standards of economic area will become an authentic tool to overcome such overt or covert opposite forces that have only a consumer attitude towards the economic space. In the paper, the increase of innovation utilization index is presented as a proportion to the growth of socio-economic and political development and inverse dimension to poverty and environmental imbalances. In addition, the leading role of innovation, socio-economic environment and sustainable economic development are discussed in the three-dimensional model of the systems’ life cycle.

PECULIARITIES OF CORPORATE GOVERNANCE IMPROVEMENT IN GEORGIA

Givi Duchidze — 2021-04-04

The article discusses topical issues of corporate governance formation in Georgia, which were founded in the 1990s. The steps taken towards the implementation of the Anglo-Saxon model of corporate governance in Georgia are assessed. The problems of corporate governance that are characteristic of both Western European countries and Georgia are analyzed, and steps are taken to address these problems. The trends in the formation of corporate legislation in Georgia are discussed. It is suggested that in order to establish a high standard of corporate governance in Georgia, it is necessary to develop and adopt a Corporate Governance Code of Companies, which ensures the establishment of general principles of corporate governance.

EXPORT DIVERSIFICATION AND ECONOMIC GROWTH: EVIDENCE FROM CROSS-COUNTRY ANALYSIS (In case of post-soviet countries)

David Sikharulidze — 2021-04-04

This study examines the influence (effects) of export diversification in economic growth across post-soviet countries. In a sample of seven countries for the period 1997-2019 the dynamic panel estimation reveals that export diversification is important determinant of economic growth, Estimating the impacts of other variables are also important. These variables are: lagged growth, trade openness, investment, Education, Agriculture/GDP ratio, Manufacturing/GDP ratio, Services/GDP ratio, Population growth. It is found that countries with more diversified exports generally experienced faster economic growth. Results of the study indicates that export diversification has an influence on economic growth. A positive relation between export diversification and growth is established and it suggests that countries with a higher rate of export diversification (less
concentration) experience a higher rate of economic growth. Moreover, the results show both export diversification and export growth are robust determinants of growth rates while trade openness is not robust. This suggests that for countries striving to achieve economic growth, export diversification should go along with the growth of its exports

TIME-SERIES FORECASTING OF BITCOIN PRICES

Avtandil Gagnidze — 2021-04-04

Since 2008, when the cryptocurrency was first introduced under the name Satoshi Nakamoto, more and more people are interested in the «new money» – Bitcoin. Bitcoin is the first cryptocurrency and although many other cryptocurrencies were created and will be created in the future, Bitcoin remains the most popular cryptocurrency to this day. Naturally, along with the rapid growth of information technologies and their applications, many new «computerized» currencies will emerge. Because anyone can buy and sell cryptocurrency (e.g. bitcoin) and, thus, cryptocurrency is a subject of trade, hence cryptocurrency and in particular bitcoin is a product. Naturally, questions arise about the determinants of cryptocurrency price changes. In particular: Are the changes in the prices of cryptocurrency (and in particular Bitcoin) related to the development trends
of the global economy? Are changes in the prices of cryptocurrency (and in particular Bitcoin) related to indicators of the state of the global economy, such as the well-known indices DJII, Nasdaq, S&P 500 and others. Thus it is interesting to see whether it is possible to predict changes in the prices of cryptocurrencies (and in particular Bitcoin) using different methods of time series.

TOWARDS IMPROVING THE LEGISLATION AND CASE LAW ON THE APPLICATION OF A MEASURE OF RESTRAINT ON A MINOR

Irine Bokhashvili — 2021-04-04

The juvenile defendant as a juvenile in conflict with the law and criminal justice as the most "severe" form of
justice has always been both the subject of active observation in society and a topical part of the country's
criminal policy.
On June 12, 2015, the Law of Georgia "Juvenile Justice Code" (hereinafter - JJC) was adopted, thus joining the
number of countries where juvenile justice (at the domestic level) is regulated by independent special legal acts.
Recently, on September 1, 2020, the Law of Georgia "Code of the Rights of the Child" entered into force (adopted on September 20, 2019), which further strengthens the unshakable, constructive policy of the State in
terms of forming a solid support system ensuring the rights and freedoms of minors.
The issue of preventive measures against minors is discussed in the paper, taking into account the domestic legislation of Georgia and the regulations provided by international legal norms, case law and statistics in the country.
The rights of the juvenile defendant, as a specific direction concerning the rights of the child in law, become
an even more specific subject of interest when a measure of restraint is imposed on the juvenile defendant.
The JJC provides for a number of features that are directly connected to the application of a measure of restraint to a minor. However, it is advisable to make several legislative changes in this direction, for example:
to establish an electronic monitoring measure as the main form of prevention and develop a sample list of
additional restrictions. As well as this, it is important to take into account the following issues: consideration
of the judge's discretion in the case of detention on bail; the practice of imposing supervision on both parents;
and an indication of the circumstances of best interest of the juvenile among the circumstances to be taken
into account by the judge, etc.
Case law and statistics reveal that the issue of non-custodial treatment of a juvenile and the predominant
use of extradition of a juvenile under the supervision of a parent are still active among these non-custodial
measures.
One of the important issues concerning imposing a measure of restraint on a juvenile defendant is the specialization of the persons involved in the process and the effective implementation of this legislative reservation,
which implies the correct approach of the prosecutor, lawyer and judge. Undoubtedly, the focus of the whole
process should be the best interests of the child.
The current legislation and system of juvenile justice in Georgia requires a timely, dynamic development and
continuous improvement in line with the growing demands and needs of juveniles in the modern world,
which should be one of the priority directions of the state for each child.

THE RELATIONSHIP BETWEEN LEGAL INSTRUCTIONS AND FACTUAL CIRCUMSTANCES IN A JURY TRIAL

Ella Kusiani — 2021-04-04

The jury trial, which has a long history of existence, has not lost its relevance to this day and is given much attention both in Georgia and in many other countries. Although this institution originated in the common law of England, today it operates in various forms in many countries of the world, both common and continental law. The Institute of Jurors has evolved over the years to refine it as a form of administration of justice, to meet modern requirements, and to be an effective mechanism for ensuring a fair trial in today's reality. In this article, I will try to analyze how difficult it is for a jury to properly understand the judge's instructions, as well as the evidence presented by the parties during the trial, and ultimately what is the deciding factor in reaching a verdict for a jury. Whether jurors understand the evidence and how well they act within the framework
of the instructions given by the judge – access to these problems actually gives us an opportunity to form an idea of the essence and purpose of the Institute of Jurors. In this article will be reviewed foreign literature, American studies on the above-mentioned issues, as well as ell as an analysis of the experience accumulated so far in Georgia

THE ROLE OF THE UNITED NATIONS IN CREATION OF INTERNATIONAL CRIMINAL TRIBUNAL FOR RWANDA

Bakar Matsaberidze — 2021-04-04

On November 8, 1994 International Criminal tribunal for Rwanda was established by United Nations Security Council. The occurrence was in response to genocide, mass human rights and other serious violations of International Humanitarian Law caused by the new wave of civil confrontation that had occurred in Rwanda since April 6, 1994. Establishing International Criminal Tribunal for Rwanda was a matter of great importance and a turning point on the way of historical development of permanent International Criminal Court and modern International criminal law. Despite the establishment of the Tribunal, all the measures having been taken in response to the current events in Rwanda, still remain the subject to criticism of international community and mostly, United Nations Organization. The abovementioned work is dedicated to analysis of the issues concerning the foundation of ICTR (International Criminal Tribunal for Rwanda) by United Nations Security Council.
The present article refers to the period from April 6, 1994 to November 8, 1994, analyzing on the one hand, the activities concerning the establishment of International Criminal Tribunal for Rwanda by different organs of United Nations Organization, on the other hand, the article tells about the activities by United Nations Organization in relation to the current events in Rwanda.

LEXICAL-THEMATIC CHARACTERISTICS OF PROVERBS OF KARTVELIAN LANGUAGES

Giorgi Jgharkava — 2021-04-04

Lexical-thematic characteristics of proverbs and observing them is worth considering in many different ways, since, on the one hand, it reflects the lifestyle, occupation and history of people, and on the other hand, the structural-semantic aspect of a certain lexeme can dictate the place of origination/expansion of the proverb. Alongside the universal lexical data characteristic of Kartvelian languages, specific lexical units sharply marked by cultural elements are confirmed in the proverbs of certain (Megrelian, Laz or Svan) languages, which demonstrate cultural, geographical or other locational characteristics distinctive for a certain language collective. There can also be encountered some obsolete, obscure words in case of absence of special definitions in some proverbs. The aim of the article is to reveal the main groups of paremial units imprinted with originality characteristic of a certain region alongside with universal lexical-thematic data existed in the proverbs of Kartvelian languages. There have also been discussed some proverbs that include certain passively used and less recognizable
lexical units.

DESIGN OF TOURISM INFRASTRUCTURAL OBJECTS IN CONDITIONS OF CIRCULAR ECONOMY

Giorgi Giorgadze — 2021-04-04

The requirements of the design and construction market in the context of a global pandemic era are fundamentally different from the usual picture of previous years. The economic crisis affected all sectors of the national economy In general, but one of the most important areas – tourism, should be especially noted, the income of which is an important and reliable source of budget replenishment, and the development of which was largely determined by the size and intensity of foreign tourist flows. Extraordinary measures were taken by the state to protect the population: The closure of the country's external gates, the quarantine regime, social distancing, etc. caused complete stagnation in this area; The suspension of the tourism activities has
created many problems for employers and industry workers, operating companies and the budget. No effective ways to get out of the current crisis situation have yet been found, but there are alternative directions, the emergence of which is associated with pre-design multidisciplinary research and the preparation of the necessary feasibility studies based on the generalization of their results. One of these promising areas is a new understanding of the river factor in the historical development; In this respect, the Mtkvari River represents a significant spatial planning environment for the development of Tbilisi's tourism infrastructure. The article discusses the possibilities of using the banks of the river and its underwater space to create attractive tourist objects. The challenges of the circular economy determine the architectural and planning conditions and the composition of design and technical specifications for the construction of specific buildings and structures