Globalization and Business
type: channel
description: The international, peer-reviewed, and indexed scientific journal Globalization and Business (G&B) was established in 2016 as an interdisciplinary publication of European University. The journal’s mission is to advance the study and discourse on contemporary issues across a range of disciplines, including economics, business, education, tourism, technology, governance, and political science. By publishing rigorous, research-based analyses, the journal seeks to foster critical discussions and enrich existing debates in these fields. Through collaborations with both local and international scholars, we are dedicated to supporting the internationalization of research and contributing to the global academic community. The journal gives preference to studies that examine issues in a comparative context, ensuring that the papers are relevant and engaging for both national and international academic audiences. The journal’s primary objectives include: Fostering Scientific Innovation: Encouraging the development of novel ideas, methodologies, and advancements in the study of globalization and business. We continuously monitor all innovations in modern technologies and integrate them into the journal's activities. Providing Access to Cutting-Edge Research: We offer readers free, instant, and uninterrupted access to articles, making modern scientific works available to everyone. Supporting interdisciplinary research: connecting multiple fields across economics, business, education, tourism, technology, social issues, environmental protection, governance, and political science in order to address complex challenges related to global problems. Ensuring the Dissemination of Research: We take responsibility for bringing the research of scientists to a broader stage, making them as visible and accessible as possible to global scientific communities. The journal covers a wide range of topics, including but not limited to the following areas: Globalization and the Economic Policy of …
publisher: SCIENTIFIC RESEARCH INSTITUTE OF ECONOMIC AND SOCIAL ISSUES OF GLOBALIZATION
language: en
publication name: Globalization and Business
issn: 2449-2612
items: Georgia’s Integration into the European Union: A Synergy of Mutual Interests
items: Ukraine’s Chances of Victory Under Trump’s Presidency
items: Globalization’s Double-Edged Sword: Resource Dependency and Geo-Politics of Oil in Petróleos de Venezuela (PDVSA)
items: Unveiling new insights about the influence of oil prices on GDP in OAPEC nations: MMQR investigation
items: Balancing Innovation and Risk: Regulatory Frameworks for Sustainable Fintech Growth
items: The Mediating Role of Organizational Commitment between Organizational Justice and Job Performance
items: Sustainability Reporting as an Opportunity to Improve Governance Reporting Practices
items: The Role of AI in Personalizing Travel Experiences and Enhancing Satisfaction Among Eco-Conscious Tourists in Algeria
items: Labour Market of Georgia: Overview and Anticipated Evolution
items: Western Aspirations in Georgia’s Winemaking: Status and Prospects
items: Asymmetric Effect of Monetary and Fiscal Policy Uncertainty on the Energy Transition: Evidence from the United States
items: Sustainability Disclosure, CEO Duality, and Ownership Concentration: Evidence from Georgia
items: Hofstede’s National Cultural Dimensions in the Managerial Context (Case study)
items: Enhancing Tourism in the South Caucasus through Coopetition
items: Determinants of E-Learning Adoption by the Student in Algeria:A Structural Equation Modelling Approach
items: Bayesian Networks for Migration, International Remittances, Trade, Foreign Direct Investments, Inflation, Real Interest Rate and Employment in Georgia
items: Forms of state intervention in the health sector
items: The Impact of Industry 4.0 in The Conditions of Globalization: An Overview of Logistics Companies Originating from Turkiye
items: Is Winemaking Central to Georgia’s Economy?
items: The Banking Regulation’s Shifts in Light of Globalization and its Effect on the Banking Industry’s Performance: U.S.A. as a Model
items: Digital Finance in Algeria: Analyzing the Impact of COVID-19 on E-Banking Adoption
items: Forecasting Customer Bank Behavior Using Weka and Classification Algorithms
items: Key Aspects of Implementation of Participatory Budgeting Model in Georgian Municipalities
items: The Impact of Financial Inclusion on Economic Growth in Algeria
items: Economies of Scale, Efficiency and Optimal Size of the Hospital
items: Economic Effects of Introduction of Modern Technologies in Beekeeping
items: Exporting Beekeeping Products: Importance of Detailed Market Analysis and Brand Positioning
items: Information War - International Security Dilemma in the Modern World
items: Analysis of the Relationship between Privatization, Foreign Direct Investment, and Economic Growth in Azerbaijan
items: Factors affecting the use of e-banking services among customers of Algerian banks: A qualitative study

Georgia’s Integration into the European Union: A Synergy of Mutual Interests
type: item
description: The aim of this article is to demonstrate the mutual interest of both parties in working together today, with a view to Georgia's full integration into the European Union. This objective is rooted in a long-standing relationship that has progressively deepened over the years, driven by shared values and a common aspiration for peace and stability in the region. To this end, we propose to examine the various points of convergence, from both a Georgian and a European perspective. These include political alignment, economic cooperation, security collaboration, and cultural exchange. Georgia has made significant efforts to align its institutions and policies with European standards, while the European Union has expressed consistent support for Georgia’s sovereignty and territorial integrity. By exploring these elements, this article seeks to highlight not only the benefits of stronger cooperation but also the strategic importance of Georgia's full accession for the development of the European Union itself. Keywords: Georgia, European Union, integration, mutual interests. Introduction Some European countries are not part of the Union for various reasons (neutrality in Switzerland, fiscal freedom in Andorra, etc.), while others are applying to join. Georgia is one of these new countries eager to join the European Union, a desire marked by the Georgian population itself (82%[1]), and by the decision of the Union’s institutions to recognize the validity of Georgia’s application for enlargement on December 14, 2023. Founded after the Second World War to promote peace, prosperity, and solidarity between its member states, the European Union today is much more than just the economic and customs union it was at its inception. Today, it occupies a central position in the world’s political, economic, social, cultural, diplomatic, and strategic landscape. What’s more, it embodies an ambitious project to support and encourage democratic values, human rights, and cooperation on an i…
subject: Publishing permissions
  topic: section
subject: Georgia
  topic: keywords
subject: European Union
  topic: keywords
subject: integration
  topic: keywords
subject: mutual interests
  topic: keywords
creator: Masclanis François
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 163
ending page: 172
doi: 10.35945/gb.2025.19.012

Ukraine’s Chances of Victory Under Trump’s Presidency
type: item
description: This article explores the potential consequences of Donald Trump’s return to the presidency on the ongoing Russia-Ukraine war, with particular emphasis on the resulting geopolitical shifts and implications for global security. The analysis examines Trump’s stated positions, proposed peace plans, and their reception in both Kyiv and Moscow, shedding light on how his rhetoric and strategy may reshape the trajectory of the conflict. It further contextualizes his approach within broader transatlantic dynamics, including NATO’s cohesion, European defense initiatives, and the global response to a reoriented U.S. foreign policy. By highlighting Trump’s preference for transactional diplomacy, skepticism toward multilateralism, and emphasis on bilateral negotiations, the article considers how these tendencies may accelerate a reordering of the international system and challenge the existing liberal order. The discussion also assesses the potential ramifications for U.S. alliances and regional stability in Eastern Europe. The article concludes that while Trump’s promises of a swift peace may have rhetorical appeal, their implementation could intensify volatility and long-term insecurity in the region and beyond. Keywords: Peace negotiations, NATO and european security, Russia–Ukraine war. Introduction In 2022, the war launched by Russia in Ukraine changed the geopolitical situation in the world. It is the largest and most multidimensional conflict since the end of the Cold War, which has put an end to the existing rules-based international system and laid the foundation for a new world order. Given the multidimensional nature of the conflict, it involves all representatives of the civilized world, and its consequences directly or indirectly affect other states. Two years after Russia’s full-scale invasion, Ukraine has regained approximately 54 percent of the occupied territory, while Russia still holds onto 18 percent of the country’s sovereign territory.[1] Meanwhile, Russia…
subject: Publishing permissions
  topic: section
subject: PEACE NEGOTIATIONS
  topic: keywords
subject: NATO AND EUROPEAN SECURITY
  topic: keywords
subject: RUSSIA–UKRAINE WAR
  topic: keywords
creator: Raul Kiria
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 157
ending page: 162
doi: 10.35945/gb.2025.19.011

Globalization’s Double-Edged Sword: Resource Dependency and Geo-Politics of Oil in Petróleos de Venezuela (PDVSA)
type: item
description: Combining institutional theory of the firm with resource dependency analysis, this study explores the ever-changing geopolitics of oil and challenges of overproduction in Venezuela’s national oil company (NOC), PDVSA. It analyzes a state company's structural crisis and its limitations for growth through the lens of resource dependency theory and geopolitics of oil. Despite the recent easing of US sanctions, our findings suggest that an alternative firm strategy is rarely, if ever, viable for the company due to its international and geopolitical dependency. This paper further argues that PDVSA’s performance reflects greater alignment of crisis management with the geopolitics of resource-based development. PDVSA has pursued a strategy of ‘jockeying’ between transnational oil interests (privately-owned, Western MNEs) and non-Western oil companies from allied nations like Russia and China. Furthermore, since much of the oil windfall resulted from currency overvaluation by inefficient national and foreign capital, PDVSA has been unable to maintain a competitive advantage that could enhance its performance. This study is limited to the oil sector in Latin America, but a few examples of ‘resource nationalism’ emerging from other countries are briefly discussed. The paper concludes by discussing the policy implications of the research for oil industry managers in the context of ongoing globalization. Keywords: Embedded autonomy, resource nationalism, state-owned oil company, rentier socialism Introduction This paper examines the evolving corporate performance and crisis of Venezuela’s state-owned oil company, PDVSA, from early 2000 up to the present. Venezuela suffered an unprecedented economic collapse, most intensified by the 2017 debt default and the COVID-19 pandemic most recently. From 2013 to 2018, GDP contracted by a cumulative 47.8 percent, with inflation reaching 130,060.2 percent in 2018.[1] As oil production consistently fell for more than a decade, it collapsed …
subject: Publishing permissions
  topic: section
subject: Embedded autonomy
  topic: keywords
subject: resource nationalism
  topic: keywords
subject: state-owned oil company
  topic: keywords
subject: rentier socialism
  topic: keywords
creator: Mine Doyran
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 136
ending page: 156
doi: 10.35945/gb.2025.19.010

Unveiling new insights about the influence of oil prices on GDP in OAPEC nations: MMQR investigation
type: item
description: Employing the methodology of moments quantile regression with fixed effects (MM-QR), this research examines the influence of variations in oil prices on economic development within Arab oil-exporting nations that are affiliated with the Organisation of Arab Petroleum Exporting Countries (OAPEC). Comprehensive data from 1990 to 2021 for eleven OAPEC member countries are analyzed. The empirical findings derived from the analysis reveal a significant and positively correlated association between the fluctuations in oil prices and economic growth, particularly when examined within the context of nations exhibiting higher Gross Domestic Product (GDP) quantiles, which suggests that countries possessing elevated GDP levels tend to derive greater economic advantages from increases in oil prices. Nevertheless, it is noteworthy that the impact of this correlation diminishes considerably for countries situated within the lower GDP quantiles. Additionally, population growth positively affects GDP but exhibits diminishing returns over time, while exchange rate fluctuations show negligible impact on overall economic stability and growth. Keywords: Oil price fluctuations, GDP, method of moments quantile regression, population, OAPEC. Introduction Strong turbulences marked by abrupt variations in oil prices have rocked the global oil market during the past few decades. The times of highest oil price volatility were 1973, 1979, 2008, and 2020, which followed the 2019–2020 coronavirus epidemic. Because the US has run out of storage space, the West Texas Intermediate futures crude oil price saw negative trading for the first time in April 2020. The global oil market’s past indicates that macroeconomic success and fluctuations in oil prices have historically been closely correlated. Both nations that import oil and nations that export oil may experience economic instability as a result of oil shocks. Furthermore, in some oil-dependent economies, sudden and severe swings in oil prices m…
subject: Publishing permissions
  topic: section
subject: Oil price fluctuations
  topic: keywords
subject: GDP
  topic: keywords
subject: method of moments quantile regression
  topic: keywords
subject: Population
  topic: keywords
subject: OAPEC
  topic: keywords
creator: Rahima Benaini
creator: Hicham Ayad
creator: Brahim Selka
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 125
ending page: 135
doi: 10.35945/gb.2025.19.009

Balancing Innovation and Risk: Regulatory Frameworks for Sustainable Fintech Growth
type: item
description: This paper investigates the transformative impact of Financial Technology (FinTech) and Artificial Intelligence (AI) on the global financial sector, moving beyond a descriptive overview to critically examine the challenges and opportunities they present. The study synthesizes a comprehensive review of empirical data, policy documents, and industry reports, including the EY Global FinTech Adoption Index (2023) and World Bank reports (2023), to analyze FinTech adoption across diverse regions and financial service categories. The research identifies key challenges related to electronic financial transactions, including cross-border complexities, decentralized systems, and cybersecurity risks. Furthermore, it addresses the crucial need for adaptable regulatory frameworks that balance innovation with financial stability and consumer protection. Findings reveal significant disparities in FinTech adoption globally, driven by factors such as technological infrastructure, regulatory environments, and socio-economic conditions. The study highlights the potential systemic risks associated with FinTech investments and underscores the importance of international cooperation in addressing cross-border challenges. By providing a holistic perspective that integrates technological, economic, ethical, and regulatory dimensions, this paper contributes to a more nuanced understanding of the dynamic interplay between technology and finance. It offers actionable recommendations for policymakers, industry practitioners, and academics seeking to foster responsible innovation and ensure the long-term resilience of the global financial system. Future research directions are proposed, including evaluating the effectiveness of different regulatory approaches, exploring the ethical dimensions of AI in finance, and conducting longitudinal studies to assess the long-term impacts of FinTech on financial stability and consumer welfare. Keywords: FinTech, artificial intelligence (AI), financial regu…
subject: Publishing permissions
  topic: section
subject: FinTech
  topic: keywords
subject: artificial intelligence (AI)
  topic: keywords
subject: financial regulation
  topic: keywords
subject: financial stability
  topic: keywords
subject: digital finance
  topic: keywords
creator: Ahmed Bouriche
creator: Abdelkader Hamli
creator: Sihem Bouriche
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 113
ending page: 125
doi: 10.35945/gb.2025.19.008

The Mediating Role of Organizational Commitment between Organizational Justice and Job Performance
type: item
description: The purpose of this study is to assess the mediating role of organizational commitment (OC) between organizational justice (OJ) and job performance (JP). The data was collected from 281 employees using a questionnaire approach. The data analysis used Smarts PLS for assessing the measurement and structure models. The results indicated that organizational commitment mediated the relationship between organizational justice and job performance. The results also showed that OJ has a significant impact on OC and JP, and OC significantly impacts JP. Managers must be familiar with the essential rules to improve job performance, organizational commitment, and organizational justice while also considering proper conduct. Furthermore, the necessary facilities for promoting professional advancement and training should be established to bolster banks’ current and future demands. The paper elucidates the conclusions and their limitations while also proposing avenues for further research. This study enhances the theoretical framework within organizational theory, organizational behavior, and psychological research, particularly concerning the Iraqi banking sector. However, the study advises banking industry managers to provide fairness and justice in the evaluation processes to improve employee commitment. Keywords: Organizational commitment, organizational justice, job performance, banks. Introduction Unlike in previous eras, human resources are perceived as essential to business efficiency.[1] In the past few years, academicians have debated the strategic significance of human resources (HR) in a world that is dominated by intellectual capital. The new narrative contradicts several study findings indicating that businesses frequently substitute human resources with alternative elements of production when expedient.[2] In most instances, human resources are perceived as a cost that should be reduced, particularly during challenging periods.[3] However, emerging trends provide som…
subject: Publishing permissions
  topic: section
subject: Organizational commitment
  topic: keywords
subject: organizational justice
  topic: keywords
subject: job performance
  topic: keywords
subject: banks
  topic: keywords
creator: Alaa S. Jameel
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 92
ending page: 112
doi: 10.35945/gb.2025.19.007

Sustainability Reporting as an Opportunity to Improve Governance Reporting Practices
type: item
description: The concept of sustainable accounting has emerged as a result of the development of accounting over the past forty years. Two different approaches emerged: The first is the debate about accountability, based on a completely new accounting system and designed to strengthen the sustainability strategy; The second approach is a management perspective, which is related to many sustainability terms. It can therefore be considered an extension of conventional financial management accounting. The paper discusses the purpose of sustainability accounting, stages of development, and the possibility of implementing and using two of the most important standards in Georgian companies. Key considerations and responses to the use of standards in sustainability reporting regarding disclosures have been formulated. Based on European experience, Georgia has introduced international standards for sustainable development. The goal of sustainability reporting is to reduce the negative impacts of businesses on the environment and society. The main challenge is to standardize the process of preparing sustainability reports, ensuring their robustness and reliability. The introduction of standards is important and a priority for the sustainable development of local enterprises. The early adoption of these principles represents an opportunity for the country to improve its management reporting practices as stipulated in the Law on Accounting, Reporting, and Auditing of Georgia. Contribute to the creation of a more sustainable and competitive economic environment, which ultimately ensures the creation of a European business environment. The implementation of these standards will strengthen investor confidence and create opportunities for making informed decisions. Keywords: Sustainable reporting, IFRS standards, disclosure information, production practices, economic environment. Introduction Sustainability accounting issues have appeared in the accounting of various countries over the past ha…
subject: Publishing permissions
  topic: section
subject: Sustainable reporting
  topic: keywords
subject: IFRS standards
  topic: keywords
subject: disclosure information
  topic: keywords
subject: production practices
  topic: keywords
subject: economic environment
  topic: keywords
creator: Manana Mchedlishvili
creator: Naira Tabatadze
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 86
ending page: 91
doi: 10.35945/gb.2025.19.006

The Role of AI in Personalizing Travel Experiences and Enhancing Satisfaction Among Eco-Conscious Tourists in Algeria
type: item
description: This study examines the impact of AI-Driven Personalisation on traveller satisfaction and eco-conscious behavior among Algerian tourists. Data was collected from 160 Algerian travellers through a survey to understand how AI influences their travel experiences and environmental awareness. The results show a significant positive relationship between AI-Driven Personalisation and both traveller satisfaction and eco-conscious behavior. Personalization enhances travellers’ enjoyment by offering more relevant experiences and encourages more sustainable choices, such as eco-friendly accommodations and transportation. The study also identifies demographic factors that influence the effectiveness of AI personalization, including age and the use of specialized travel platforms. Younger travellers, who are more familiar with digital technologies, tend to benefit more from AI-driven recommendations compared to older tourists. These findings suggest that AI-Driven Personalisation can effectively promote sustainable tourism by improving traveller experiences and encouraging eco-friendly behaviors. Tourism providers can use AI to tailor suggestions to individual preferences, enhancing both the quality of the travel experience and the environmental impact. Future research should focus on the long-term effects of AI-Driven Personalisation, exploring its potential to shape future tourism trends and its broader impact on the industry. Keywords: AI-Driven Personalisation, eco-conscious behaviour, traveler satisfaction, Algeria. Introduction The tourism industry is one of the industry sectors affected by artificial intelligence.[1] This field is expected to transform various sectors and promoting both environmental sustainability and business success.[2] According to the United Nations Environment Programme (UNEP) and the World Tourism Organization (WTO), sustainable tourism is the “Tourism that takes full account of its current and future economic, social and environmental impacts, add…
subject: Publishing permissions
  topic: section
subject: AI-Driven Personalisation
  topic: keywords
subject: eco-conscious behaviour
  topic: keywords
subject: traveler satisfaction
  topic: keywords
subject: Algeria
  topic: keywords
creator: Abdelaziz Djamaa
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 67
ending page: 85
doi: 10.35945/gb.2025.19.005

Labour Market of Georgia: Overview and Anticipated Evolution
type: item
description: This study examines the trends and developments in Georgia’s labor market, with a primary focus on the period from 2013 to 2023. It is based on an analysis of current labor market conditions and relevant literature. The study identifies key drivers influencing the labor market, with particular emphasis on employers’ expectations. Notably, expanding digital access and the adaptation to advanced technologies are recognized as significant factors impacting the labor market. Additionally, the study outlines the most in-demand skills for the future workforce, which include creative and analytical thinking, technological literacy, systems thinking, expertise in artificial intelligence (AI) and big data, as well as competencies related to management, leadership, and cybersecurity. In the process of shaping future labor market policies, special attention is given to the influence of technological factors on the nature and roles of future work. The paper references studies that substantiate the growing impact of artificial intelligence on labor market dynamics. The conclusion emphasizes the necessity for coordinated approaches and strategies between labor market institutions and the education system to enhance labor market conditions and address existing and future skill mismatches. It is recommended that active labor market policies be grounded in a detailed and systematic study of anticipated labor market developments. Keywords: Future demands for skills and jobs, higher and self-employed, job creator macrotrends, employment and unemployment, drivers of changes. Introduction Reducing high unemployment rates and ensuring effective employment of the population requires the implementation of a comprehensive approach. To achieve these objectives, any policy, program, or project must involve a thorough study and analysis of the current state of the labor market. Furthermore, to ensure the desired outcomes, it is crucial to assess and forecast anticipated changes in the labor ma…
subject: Publishing permissions
  topic: section
subject: Future demands for skills and jobs
  topic: keywords
subject: higher and self-employed
  topic: keywords
subject: job creator macrotrends
  topic: keywords
subject: employment and unemployment
  topic: keywords
subject: drivers of changes
  topic: keywords
creator: Natia Zedginidze-Jishkariani
creator: Murtaz Kvirkvaia
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 56
ending page: 66
doi: 10.35945/gb.2025.19.004

Western Aspirations in Georgia’s Winemaking: Status and Prospects
type: item
description: Since its independence from the Soviet Union in 1991, Georgia has sought to revive its wine’s international reputation, diversify wine export destinations, and attract Western wine-loving tourists. Although much still needs to be done to decrease dependence on the Russian market and translate the aspirations into reality, Georgia has progressed in pivoting to the West. The country marketed as the Cradle of Wine has prioritized a Western orientation and holds the prospect of becoming a player in the global wine market. The recommendations provided in this paper are intended to solidify this prospect and break down barriers to entering Western wine and tourism markets. Effective promotion of Georgian wines, the cross-fertilization of wine production and wine and food tourism, and the development of domestic skills and international partnerships should go together with balancing various wine and tourist options. Export diversification should also involve complementing Georgian tradition with innovation, building on Western expertise and funding, and emphasizing premium-level wines, including natural wines. Keywords: Winemaking, Georgia, tourism, wine export. Introduction Georgia – a mountainous country between the Black and Caspian Seas, where Europe meets Asia – is now recognized as a place where wine has been made and celebrated continuously for the last 8000 years.[1] Multidisciplinary international research in archeology, paleoclimatology, chemistry, and biomolecular studies has provided the evidence behind this recognition. It was, however, a Westerner, Hugh Johnson, an English journalist, author, and wine expert, who first referred to Georgia as the Cradle of Wine in his authoritative book Vintage: The Story of Wine.[2] As Westerners were long fascinated with Georgia and interested in its wines, this paper aims to ascertain Western aspirations in Georgia’s winemaking, historically up to the present day, and to analyze the extent to which these aspirations have so…
subject: Publishing permissions
  topic: section
subject: Winemaking
  topic: keywords
subject: Georgia
  topic: keywords
subject: tourism
  topic: keywords
subject: wine export
  topic: keywords
creator: Natalia Dinello
creator: Giorgi Bregadze
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 41
ending page: 55
doi: 10.35945/gb.2025.19.003

Asymmetric Effect of Monetary and Fiscal Policy Uncertainty on the Energy Transition: Evidence from the United States
type: item
description: This research attempts to investigate how uncertainty in fiscal policy (FPU) and monetary policy (MPU) affects the US energy transition. While previous literature took the total renewable energy consumption (REC) as an indicator for the energy transition, this study uses different renewable energies across different sources, including solar, hydropower, wind, and biomass. Then, the novel multivariate quantile on quantile regression (MQQR) approach and time-varying nonparametric quantile causality (TVNQC) methods were applied in the period from 2000 to 2023. The MQOQ findings demonstrate a robust asymmetry between MPU, FPU, and all renewable energy sources, where MPU has the biggest impact, meanwhile, biomass energy has the strongest relationship. This was affirmed by TVNQC, which reveals a significant time-varying causation impact of MPU and FPU on various renewable energy sources; however, the causality becomes weaker during periods of global economic uncertainty, such as the COVID-19 pandemic and the Russia-Ukraine war. These findings provide a new insight for policymakers for addressing the energy transition and sustainability challenges. Keywords: Monetary policy, fiscal policy, energy transition, renewable energy, quantile. Introduction Energy consumption served a crucial role in the expansion of different types of industries and the fast rise in the world economy ever since the start of the Industrial Revolution.[1] The bulk of this energy usage comes from polluting and non-renewable sources, it consequently caused an unheard-of increase in environmental degradation such as natural disasters, extreme weather events and greenhouse gases emissions,[2] With Carbon dioxide (CO2) represent the most significant component of greenhouse gases, making up the biggest proportion of their entire amount, where, the primary cause of the high CO2 emissions is the production and consumption of human’s activities.[3] Due to climate change and pollution consequences, the shift …
subject: Publishing permissions
  topic: section
subject: Monetary policy
  topic: keywords
subject: fiscal policy
  topic: keywords
subject: energy transition
  topic: keywords
subject: renewable energy
  topic: keywords
subject: quantile
  topic: keywords
creator: Mohammed Amine Mouffok
creator: Omar Mouffok
creator: Wassila Bouabdallah
creator: Youcef Souar
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 23
ending page: 40
doi: 10.35945/gb.2025.19.002

Sustainability Disclosure, CEO Duality, and Ownership Concentration: Evidence from Georgia
type: item
description: This study examines the determinants of corporate sustainability disclosure in Georgia, emphasizing the influence of CEO duality and ownership concentration. The absence of significant external demand for sustainability information and a robust regulatory framework often limits the voluntary release of such information. This research utilizes a sustainability disclosure scorecard developed in accordance with the EU Corporate Sustainability Reporting Directive, encompassing key environmental, social, and governance dimensions. Analyzing annual reports from all listed companies in Georgia from 2018 to 2021 through descriptive statistics and hierarchical multiple regression, findings highlight that board chair/CEO role duality and concentrated ownership significantly undermine sustainability disclosure. Specifically, CEO duality adversely affects social and governance metrics, while concentrated ownership primarily diminishes environmental transparency. These insights enhance understanding of the factors influencing corporate sustainability disclosure in emerging economies. The findings of this study may also provide valuable implications for local policymakers, who could use this information to develop more detailed and rigorous draft laws concerning sustainability disclosure requirements. Keywords: Sustainability disclosure, ESG, determinants, ownership structure, corporate governance, emerging market. Introduction It has long been recognized that business is about more than just making money, and corporate sustainability disclosure plays a significant role in enabling firms to communicate and engage with stakeholders.[1] Therefore, society in general and capital providers in particular are increasingly interested in corporate sustainability disclosure to satisfy their demand for corporate sustainability performance.[2] Previous research has extensively explored the drivers of sustainability disclosure, yet the prevailing insights predominantly emerge from markets wi…
subject: Publishing permissions
  topic: section
subject: Sustainability disclosure
  topic: keywords
subject: ESG
  topic: keywords
subject: determinants
  topic: keywords
subject: ownership structure
  topic: keywords
subject: corporate governance
  topic: keywords
subject: emerging market
  topic: keywords
creator: Erekle Pirveli
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by-sa/4.0/
date: 2025-06-30
publication date: 2025-06-30
starting page: 7
ending page: 22
doi: 10.35945/gb.2025.19.001

Hofstede’s National Cultural Dimensions in the Managerial Context (Case study)
type: item
description: Efficient management is crucial for organizational development, considering the diverse national cultures worldwide. Solid empirical and theoretical knowledge exists globally to study cultural dimensions’ role in this context. However, findings cannot be generalized to every culture, including Georgia, without local research on values and characteristics. This study aimed to identify Georgian society’s cultural dimensions, influenced by both Western and Eastern elements due to its unique geographical position and context. Understanding these dimensions is essential for effective human resource management and cross-cultural cooperation in organizations, facilitating successful business activities. The literature review highlights how national culture impacts management practices, citing studies by various scholars. The research employed Hofstede’s cultural dimensions framework, updated with insights from five major Georgian cities, using quantitative methods to ensure representative findings. Comparing the dimensional scores of cultural orientations of Polish culture studied similarities and differences, driven by shared history and regional proximity. The study’s innovative approach addresses gaps in empirical cross-cultural management research in Georgia, offering recommendations for leadership and HR management in local organizations. Hypotheses were formulated and tested using self-administered surveys and SPSS software, confirming Georgia’s individualistic tendencies and moderate long-term orientation. Differences between educational levels and national comparisons with Poland were also explored, revealing insights into cultural orientations. Limitations consider studying only two dimensions and five cities in the country. Keywords: Hofstede’s cultural dimensions, individualism vs collectivism, short-long term orientation, management. Introduction This research aimed to explore Georgia’s unique cultural dimensions, shaped by both Western and Eastern influences, …
subject: Publishing permissions
  topic: section
subject: Hofstede’s cultural dimensions
  topic: keywords
subject: individualism vs collectivism
  topic: keywords
subject: short-long term orientation
  topic: keywords
subject: management
  topic: keywords
creator: Tamar Karbaia
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 139
ending page: 145
doi: 10.35945/gb.2024.18.012

Enhancing Tourism in the South Caucasus through Coopetition
type: item
description: This article explores the concept of “coopetition” as a strategic approach for enhancing tourism development in the South Caucasus region, comprising Armenia, Azerbaijan, and Georgia. The region holds significant tourism potential but faces infrastructure gaps, limited awareness, safety standards, and accessibility. Additionally, political instability, including the Armenia-Azerbaijan conflict and the ongoing occupation of Georgian territories by Russia, has hindered growth. Fortunately, recent peace efforts between Azerbaijan and Armenia offer opportunities for collaborative tourism initiatives, potentially boosting economic stability. Through an assessment of tourism intelligence, competitiveness, and regional dynamics, the study identifies key areas where these countries can both compete and cooperate to attract high-value tourists. Coopetition offers a strategy for enhancing the region’s competitiveness through joint marketing, shared tourist routes, and improved cross-border infrastructure while also allowing each country to utilize its unique strengths in niche tourism products. At the same time, coopetition also poses risks, such as unequal benefit distribution and coordination challenges in aligning policies, among other issues. The analysis concludes that by balancing competition with strategic cooperation, the South Caucasus countries can boost regional tourism, attract high-value visitor segments, strengthen their global market position, and contribute to lasting peace in the region. Keywords: Tourism Policy, Coopetition, South Caucasus Region. Introduction The Caucasus region, often hailed as the cradle of European civilization, stands at the crossroads of Europe and Asia, serving as a vital cultural and geographical corridor. This unique positioning has profoundly influenced the societies within the South Caucasus—comprising Georgia, Armenia, and Azerbaijan—leading to a rich fusion of European and Asian cultural elements. Renowned for its natural beauty…
subject: Publishing permissions
  topic: section
subject: Tourism Policy
  topic: keywords
subject: Coopetition
  topic: keywords
subject: South Caucasus Region
  topic: keywords
creator: Giorgi Bregadze
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 125
ending page: 136
doi: 10.35945/gb.2024.18.011

Determinants of E-Learning Adoption by the Student in Algeria:A Structural Equation Modelling Approach
type: item
description: Although previous studies have confirmed the importance of e-learning systems for both students and teachers, the level of adoption of such systems in Algeria is still low. This paper aims to determine the factors influencing the adoption and use of e-learning by Algerian students. A theoretical model was proposed based on the Unified Theory of Acceptance and Use of Technology and the Technology Acceptance Model. To assess the proposed model, a survey was conducted on 300 students in Algeria, and the data were analyzed using structural equation modeling. In the end, the findings indicate that perceived usefulness and perceived ease of use significantly positively influence behavioral intention. In turn, behavioral intention influencese-learning adoption. The results also emphasize how facilitating conditions have a strong and significant impact on the adoption of e-learning. Overall, the findings shed light on the factors that influence Algerian students’ adoption of e-learning, providing clear benefits to universities in their efforts to improve their e-learning systems and student satisfaction. Keywords: E-learning, Technology Acceptance Model, Structural Equation Modeling, Student, Algeria. Introduction The rapid growth of information technology (IT) and the usage of innovative technologies has resulted in new modes of learning and teaching. E-learning is becoming common in today’s classrooms. According to El-Hussein and Cronje, e-learning is the application of wireless technology and portable mobile devices’ ubiquitous communication capabilities and user-friendly interfaces in formal learning processes. E-learning offers various benefits for the student; it enables students to continue their academic activities and obtain crucial information without being constrained by space or time. Moreover, the e-learning system is important in educational places for distance education; students can retain the educational information and materials well while saving a lot of …
subject: Publishing permissions
  topic: section
subject: E-learning
  topic: keywords
subject: Technology Acceptance Model
  topic: keywords
subject: Structural Equation Modeling
  topic: keywords
subject: Student
  topic: keywords
subject: Algeria
  topic: keywords
creator: Latreche Hela
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 113
ending page: 122
doi: 10.35945/gb.2024.18.010

Bayesian Networks for Migration, International Remittances, Trade, Foreign Direct Investments, Inflation, Real Interest Rate and Employment in Georgia
type: item
description: Migration has long been a topic of interest in Georgia, given its small economy, population, and unique history and culture. The main objective of this study is to examine the factors affecting emigration and immigration in Georgia and identify the dependencies among various macroeconomic variables, such as international remittances, trade, foreign direct investment (FDI), inflation, real interest rates, and employment. Using data spanning from 2002 to 2023, the study applies a machine learning technique, specifically Bayesian Networks, to analyze these relationships. The findings are discussed, and conclusions are drawn, along with recommendations for both the government and researchers for further exploration. To our knowledge, this is the first study to apply the Bayesian Network algorithm to investigate these dynamics in Georgia, filling an important research gap. The results indicate that both immigration and emigration are affected by remittances paid, with emigration also being dependent on employment. It was found that remittances received and exports are directly influenced by remittances paid, while imports are affected by both exports and employment. Additionally, remittances received are directly dependent on imports, and the real interest rate is influenced by both imports and inflation (CPI). FDI is shown to be dependent on inflation, imports, and remittances received. Furthermore, both emigration and immigration are dependent on exports, imports, and remittances received, with immigration also exhibiting a dependency on FDI. Keywords: Emigration, Immigration, Bayesian Networks, Machin Learning, Remittances. Introduction Migration has been a long-standing topic for Georgia. As a small country with a limited population and economy, the country faces challenges due to emigration, particularly the brain drain - the loss of skilled workers and professionals - which hinders its development. On the other hand, immigration, particularly of skilled workers, is…
subject: Publishing permissions
  topic: section
subject: Emigration
  topic: keywords
subject: Immigration
  topic: keywords
subject: Bayesian Networks
  topic: keywords
subject: Machin Learning
  topic: keywords
subject: Remittances
  topic: keywords
creator: Nutsa Tokhadze
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 101
ending page: 110
doi: 10.35945/gb.2024.18.009

Forms of state intervention in the health sector
type: item
description: Any economic activity is rarely free from state intervention. State interventions mainly cover the following aspects: supply, distribution, and regulation of goods or services. State interventions in the health sector cover the same aspects. The state regulates the medical market to prevent market defects. It affects the distribution of resources by developing special rules and instructions. Antimonopoly legislation is such a mechanism of regulation. The paper discusses various mechanisms of state intervention in the health sector, including taxes and subsidies, public health care, transfer programs, and regulation. Their goal is to influence the distribution of resources and revenues in the health sector. Much of the government intervention in the health sector is aimed at reducing costs in the industry. These regulations restrict entry into the medical market, limit the industry’s inappropriate expansion, and control prices. Some regulations also try to improve the quality of treatment. Licensing of medical personnel is the best example of quality control and improvement. Keywords: state intervention, regulation, public health, taxes, subsidies. Introduction The state provides a significant portion of health care services through state hospitals (or other state health care providers) and programs. The provision of health services and social insurance programs are important means of redistributing income from high-income groups to low-income ones or from the healthy to the elderly. The regulatory role of the state is carried out through various government agencies that affect almost all sectors of the economy and individual employees. The state can use various mechanisms to influence the distribution of resources and income. The main instruments in the health sector are taxes and subsidies, public health provision, transfer programs, and regulation. The paper discusses various mechanisms of state intervention in the health sector, including taxes and subsidies, pub…
subject: Publishing permissions
  topic: section
subject: State intervention
  topic: keywords
subject: Regulation
  topic: keywords
subject: Public health
  topic: keywords
subject: taxes
  topic: keywords
subject: subsidies
  topic: keywords
creator: Tengiz Verulava
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 91
ending page: 97
doi: 10.35945/gb.2024.18.008

The Impact of Industry 4.0 in The Conditions of Globalization: An Overview of Logistics Companies Originating from Turkiye
type: item
description: The main purpose of this study is to investigate the impact of Industry 4.0 technologies on the survival and competitiveness of logistics companies based in Turkiye, a developing country, within the global landscape. From a qualitative study perspective, it aims to elucidate the positive and negative effects of Industry 4.0 applications on the logistics sector while also discussing recommendations to mitigate or eliminate these negative impacts. Based on the results of the semi-structured interview analysis, it can be asserted that the positive impacts of Industry 4.0 applications increase proportionally with the scale of a firm. Besides, if the R&D investments are enhanced in the logistics industry operating in Turkiye, it is expected that the negative effects will be more likely to be mitigated. According to findings from interviews, the preliminary anticipated effect of Industry 4.0 applications on the logistics sector is improved efficiency, while the primary barrier to its adoption is identified as the inadequacy of infrastructure and education. Keywords: industry 4.0, logistic sector, developing countries, globalization. Introduction The advent of the fourth industrial revolution, also called Industry 4.0, characterized by the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), robotics, and big data analytics, has significantly transformed various sectors worldwide.[1] Particularly, one of these sectors, logistics, has experienced profound changes as Industry 4.0 offers potential benefits such as increased operational efficiency, improved supply chain management, and increased global competitiveness. In an era of globalization, where economies are increasingly interconnected, these technological advancements are essential for maintaining competitive advantage.[2] As an important developing country, Turkiye, with a strategic geographical location, plays a crucial role in international logistics and trade. Th…
subject: Publishing permissions
  topic: section
subject: industry 4.0
  topic: keywords
subject: logistic sector
  topic: keywords
subject: developing countries
  topic: keywords
subject: globalization
  topic: keywords
creator: Fatmanur Avar Caliskan
creator: Mustafa Gersil
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 83
ending page: 90
doi: 10.35945/gb.2024.18.007

Is Winemaking Central to Georgia’s Economy?
type: item
description: Based on the primary data and review of secondary sources, this paper argues that wine is more than a symbol of Georgia; it is a foundation of the country’s economy and social life. The article also looks beyond the direct current statistics of the formal economy and considers the indirect economic impact, trends, and potential, an assessment of winemaking and wine-related tourism points to these sectors as a business priority for Georgia and an important economic and social development vehicle. The study also highlights the potential risks associated with climate change, including increased heat stress, drought, altered growing seasons, and other relatively minor obstacles. The paper identifies specific grapevine cultivars that may be particularly vulnerable to these challenges and explores adaptation strategies to mitigate their negative effects. The results of this study offer valuable insights for Georgian winemakers and policymakers to ensure the sustainability of the country’s wine industry in the face of a changing climate. Keywords: Georgia, Wine Economy, Tourism, Subsidy. Introduction The Centrality of Winemaking in Georgia’s History and Culture Georgia’s history and culture are inseparable from winemaking. The 8,000-year-old Qvevri method of using terra cotta urns buried in the ground for fermenting crushed grapes is evidence of Georgia’s uniqueness as the birthplace of winemaking. Having originated in 6000 BC, winemaking spread from the Caucasus west to the eastern Mediterranean from 2500 BC and to the north into much of Europe by 400 AD. Regarding the language, the Georgian word ghvino (wine) was probably the origin of the Latin term vino, considering that Georgia was allied with the Latin Roman Empire from the 1st century BC to the 4th century AD. On an even deeper level, viticulture and winemaking are integral to the Georgian Orthodox religion, whose major symbol is the “Grapevine Cross”. The 6th-century Jvari Monastery in Mtskheta – the continuous rel…
subject: Publishing permissions
  topic: section
subject: Georgia
  topic: keywords
subject: Wine Economy
  topic: keywords
subject: Tourism
  topic: keywords
subject: Subsidy
  topic: keywords
creator: Natalia Dinello
creator: Vakhtang Charaia
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 67
ending page: 82
doi: 10.35945/gb.2024.18.006

The Banking Regulation’s Shifts in Light of Globalization and its Effect on the Banking Industry’s Performance: U.S.A. as a Model
type: item
description: Banking regulation is essential for the efficient functioning of banking activities and the optimal allocation of financial resources. It also plays a critical role in ensuring financial stability and safeguarding depositors by preventing banks from taking excessive risks and ensuring they maintain adequate liquidity to meet their obligations. These measures contribute to the development of the banking sector and enable banks to finance economic growth. This study seeks to examine the transformations in banking regulation over recent decades and their impact on the performance of the banking sector, focusing on the United States as a case study. To achieve this objective, a descriptive method was employed. The study found that banking regulation in the United States has undergone significant transformations, shifting from liberalization to increased restrictions. The global financial crisis of 2008 prompted regulators to tighten their frameworks, which, while initially having a slight negative impact on profitability, ultimately had a significant positive effect on the resilience of banks. Keywords: Banking Regulation, Performance, Globalization, United States, Dodd-Frank Act. Introduction The global economy had a significant increase in liberalization throughout the last years of the previous century; the surge in banking sector activity and cross-border capital flows is predominantly attributed to the advent of financialization. However, this was paralleled by an increase in the levels of risks faced by the banking system in countries around the world, leading to a series of successive crises. If a bank fails, it can have far-reaching economic consequences, particularly if the bank is considered to be systemically significant. Depositors, including individuals and corporations, face the risk of losing their deposited funds, which might potentially lead to a complete cessation of economic activity. This situation necessitates placing the banking sector within a fra…
subject: Publishing permissions
  topic: section
subject: Banking Regulation
  topic: keywords
subject: Performance
  topic: keywords
subject: Globalization
  topic: keywords
subject: United States
  topic: keywords
subject: Dodd-Frank Act
  topic: keywords
creator: Aboubaker Khoualed
creator: Khayreddine Bouzerb
creator: Mouloud Khoualed
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 53
ending page: 66
doi: 10.35945/gb.2024.18.005

Digital Finance in Algeria: Analyzing the Impact of COVID-19 on E-Banking Adoption
type: item
description: This study aims to analyze the impact of the COVID-19 pandemic on the development of electronic banking in Algeria, focusing on how the health crisis has accelerated the digital transformation of the banking sector and identify the challenges and opportunities associated with this transition in a specific Algerian context. The study uses a descriptive and analytical approach. It is based on statistical data to illustrate the evolution of electronic banking in Algeria. The analysis focuses on public policies, bank initiatives, and consumer behavior. The study reveals that the COVID-19 pandemic has significantly impacted the development of e-banking in Algeria. There has been a sharp increase in digital transactions, including bank transfers, electronic payments, and ATM withdrawals. Electronic banking has played a crucial role in ensuring the continuity of financial services during the lockdown periods. However, challenges persist in terms of security, financial inclusion, and the development of digital infrastructure. Keywords: COVID-19, Electronic banking, Algeria, Digital transformation, Challenges and opportunities. Introduction The world is currently living in the era of the digital revolution, in which information technologies prevail. Advances in information and communication technologies (ICT) have revolutionized business management methods. Technology serves as an essential link between the information and business processes. ICT has had a significant influence in almost every sector,[1] and banks, like other business entities, have been leveraging ICT for many years. The health crisis with the emergence of the COVID-19 pandemic at the end of 2019 and its rapid spread worldwide threatened the collapse of the global economy, banking sector, and various vital sectors in countries. Algeria is one of the countries where this pandemic appeared, which required preventive measures to prevent the spread of COVID-19 among the population; this is the process of closin…
subject: Publishing permissions
  topic: section
subject: COVID-19
  topic: keywords
subject: Electronic banking
  topic: keywords
subject: Algeria
  topic: keywords
subject: Digital transformation
  topic: keywords
subject: Challenges and opportunities
  topic: keywords
creator: Rym Bouchelit
creator: Hadda Madouri
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 40
ending page: 50
doi: 10.35945/gb.2024.18.004

Forecasting Customer Bank Behavior Using Weka and Classification Algorithms
type: item
description: Banks derive significant profits from loans, necessitating careful customer selection to mitigate default risks. This study analyzes customer behavior at Société Générale Algeria Bank using three classification algorithms and using Weka software. A dataset comprising 300 customers was evaluated with three algorithms: Bayesian Network, Naïve Bayes, and the J48 Decision Tree. The goal of this study was to identify the most effective algorithm for classifying prospective customers as acceptable or not for loan approval. The performance of these algorithms was compared, focusing on accuracy and reliability. The results of this study indicated that the J48 Decision Tree algorithm outperformed the other methods, demonstrating superior classification accuracy. This suggests its potential as a robust tool for optimizing decision-making processes in the bank’s loan system. By integrating the J48 Decision Tree into its operations, the bank could enhance its ability to identify suitable customers, minimize risks, and ensure sustainable profitability in its lending practices. Keywords: Data Mining, Weka, Bank, Loans, Classification Algorithms. Introduction Banks and businesses alike are in a volatile, pressured world. They need to be more responsive to customers, helping them manage finances and access services quickly and easily on their channel of choice while at the same time delivering operational efficiencies. To accomplish that, these modern banks are not only employing management information systems but are also starting to introduce robust data mining practices more and more into their core business processes. Data mining, the process of identifying hidden patterns from the data that are relevant to the business, is considerably practical in the business area and yields successful results.[1] The data mining methods are benefiting from ever-developing technology, and people are also intensifying their efforts. Over 60% of banks are currently using data mining methods to…
subject: Publishing permissions
  topic: section
subject: Data Mining
  topic: keywords
subject: Weka
  topic: keywords
subject: Bank
  topic: keywords
subject: Loans
  topic: keywords
subject: Classification Algorithms
  topic: keywords
creator: Mokhtar Tahraoui
creator: Rachid Mansour
creator: Riadh Kadri
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 31
ending page: 39
doi: 10.35945/gb.2024.18.003

Key Aspects of Implementation of Participatory Budgeting Model in Georgian Municipalities
type: item
description: The article, based on the latest literary sources and factual materials, consistently studies such an important issue of financial theory and economic practice as the key aspects of implementing participatory budgeting in Georgian municipalities. The factors affecting the effectiveness of the implementation of the participatory budgeting model are discussed: the urban structure of the municipality, the size of the budget of the municipality, and the development of civil society. It is determined that any model of participatory budgeting should adhere to the following principles: model design and implementation procedures should be based on good management principles; The selected procedures should take into account the specific context of a particular municipality, including urban structure, budget size, and population participation; At the planning stage, active actors of the model, interested parties should be identified and their rights and duties defined; The model should fully comply with the legislation of Georgia and the established forms of citizen participation. Based on the international experience and the reality of Georgia, the factors affecting the effectiveness of the implementation of the participatory budgeting model are discussed: the urban structure of the municipality, the size of the municipality’s budget, and the development of civil society. It stands to reason that any participatory budgeting model should have, as a minimum, the following working procedures: population group meetings, information campaigns, development and submission of project proposals, voting, and final decision, and Evaluation of participatory budgeting process and work procedures. Keywords: participatory budgeting, city-type municipality, subsidized municipal unit, Deming cycle, urban development, civil society, project proposal. I. Introduction Since the 1990s, the formulation of a “participatory budgeting model” or “participatory budgeting process” has increasingly appe…
subject: Publishing permissions
  topic: section
subject: participatory budgeting
  topic: keywords
subject: city-type municipality
  topic: keywords
subject: subsidized municipal unit
  topic: keywords
subject: Deming cycle
  topic: keywords
subject: urban development
  topic: keywords
subject: civil society
  topic: keywords
subject: project proposal
  topic: keywords
creator: Merab Vanishvili
creator: Nanuli Kokashvili
creator: Ramaz Otinashvili
rights: Copyright (c) 2024 Merab Vanishvili, Nanuli Kokashvili , Ramaz Otinashvili (Author) https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 19
ending page: 28
doi: 10.35945/gb.2024.18.002

The Impact of Financial Inclusion on Economic Growth in Algeria
type: item
description: This research explores the impact of financial inclusion on economic growth in Algeria during the period 2004–2021. To achieve this objective, the researcher utilized the Bootstrapped coefficient estimates method, recognized for its accuracy in analyzing relationships within economic data. The study establishes a significant and noticeable relationship between financial inclusion and economic growth, highlighting the critical role of inclusive financial services in fostering economic development. Specifically, the findings emphasize that borrowing from commercial banks and the availability of ATMs have a positive and meaningful effect on economic expansion. These elements facilitate access to credit and enhance financial accessibility, which are crucial drivers of growth. On the other hand, the study identifies a surprising negative influence of the total number of bank branches on economic growth. This could point to inefficiencies or structural challenges within the banking system that warrant further investigation. The findings underline the need for tailored financial policies. Keywords: Financial Inclusion, Economic Growth, Bootstrapped coefficient estimates, Algeria. Introduction Global financial inclusion history demonstrates that achieving universal access to basic financial services has been a protracted and constantly changing process. Many organizations started to transition from providing only microcredit services to providing basic availability of financial facilities like insurance and savings starting in the late 1990s and early 2000s.[1] Financial inclusion became one of the major issues that surfaced on the global scene following the 2008 global financial crisis, highlighting its significance. Low-income households were among those whose financial well-being was significantly impacted by the crisis. The 2009 G20 Pittsburgh Summit recommended pre-financial inclusion to widely open the doors for financial subsidy to unprivileged groups, with recommend…
subject: Publishing permissions
  topic: section
subject: Financial Inclusion
  topic: keywords
subject: Economic Growth
  topic: keywords
subject: Bootstrapped coefficient estimates
  topic: keywords
subject: Algeria
  topic: keywords
creator: Hafsa Dib
rights: Copyright (c) 2024 Hafsa Dib (Author) https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-12-30
publication date: 2024-12-30
starting page: 11
ending page: 18
doi: 10.35945/gb.2024.18.001

Economies of Scale, Efficiency and Optimal Size of the Hospital
type: item
description: Hospitals are being expanded all over the world. Hospitals are becoming larger (i.e., increasing patient admissions each year) and more complex (i.e., offering a wider range of services to patients with more diverse medical care needs). In the hospital sector and other branches of the economy, economies of scale are important, according to which the volume of medical services can be increased by reducing average costs and increasing quality. However, measuring this relationship between the volume of medical services and costs is difficult because hospitals differ substantially in terms of specialization, patient composition, and other parameters that affect the volume of costs. The paper discusses the features of economies of scale in the healthcare sector and the dependence of the volume of medical services on costs and quality. Studies confirm that the influence of various factors on the costs and quality of medical services depends on the environment and the system of incentives in which hospitals operate. Relationships between patients and healthcare providers based solely on price negotiations do not ensure adequate healthcare quality. Due to informational asymmetry with respect to the real cost of hospital services and quality of treatment, medical service buyers cannot influence cost reductions and increase the quality of treatment, which increases hospital power. Thus, when evaluating the impact of hospital competition on costs and quality of care, we must remember that market mechanisms in health care do not always increase public welfare. Keywords: Economies of Scale, Quality of Medical Services, Cost of Medical Services, Hospital, Healthcare Market Introduction Regardless of economic development, modern hospitals are affected by demographic changes, the complications of the structure of diseases, and the development of new medical technologies. The hospital’s operation results depend on various links of the healthcare system: providers of medical services…
subject: Publishing permissions
  topic: section
subject: Economies of Scale
  topic: keywords
subject: Quality of Medical Services
  topic: keywords
subject: Cost of Medical Services
  topic: keywords
subject: Hospital
  topic: keywords
subject: Healthcare Market
  topic: keywords
creator: Tengiz Verulava
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-06-24
publication date: 2024-06-24
starting page: 129
ending page: 149
doi: 10.35945/gb.2024.17.012

Economic Effects of Introduction of Modern Technologies in Beekeeping
type: item
description: The article discusses the economic impact of integrating modern technologies in beekeeping, such as Artificial Intelligence (AI), Machine Learning (ML) and the Internet of Things (IoT). The balance between initial investment and Return on Investment (ROI), operational scalability, market competitiveness, and government policy influences is studied. The importance of Comprehensive Economic Analysis in optimizing benefits and overcoming the challenges beekeeping faces is emphasized. Introducing new technologies in the field leads to the scaling effect, which allows beekeepers to manage more processes and operations faster and with fewer costs and to enter wider markets, leading to increased revenue and high profitability. In addition, challenges related to the scale of activity and market conditions are noted, mainly faced by small apiaries in conditions of insufficient financial support (subsidies) from the state. In addition, the need to develop special training programs for the effective use of technologies is emphasized, which will make it easier for beekeepers to gain a competitive advantage, in particular, improving the quality of products, developing an appropriate marketing strategy and making effective decisions based on databases. The final part of the article presents the macroeconomic benefits that integrating modern technologies in beekeeping can bring - creating new jobs, increasing the incomes of the rural population, expanding the market, and increasing exports. The need for a comprehensive economic analysis of the field to achieve sustainable and useful technological progress in beekeeping is noted. KEY WORDS: Beekeeping, innovative technologies, investments, agriculture, economic efficiency Introduction Introducing modern technologies in beekeeping is an important phase for this ancient, multi-century agricultural practice, which can significantly increase the sector’s efficiency. The use of the latest technologies, such as Artificial Intelligence (A…
subject: Publishing permissions
  topic: section
subject: Beekeeping
  topic: keywords
subject: innovative technologies
  topic: keywords
subject: investments
  topic: keywords
subject: agriculture
  topic: keywords
subject: economic efficiency
  topic: keywords
creator: Vakhtangi Taktakidze
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-06-24
publication date: 2024-06-24
starting page: 120
ending page: 128
doi: 10.35945/gb.2024.17.011

Exporting Beekeeping Products: Importance of Detailed Market Analysis and Brand Positioning
type: item
description: To strengthen the export potential of Georgian bees and intervene in international markets, it is necessary to make a comprehensive and profound analysis. The article discusses the influences of market segmentation, consumers’ preferences, international trading agreements, legal regulations, product certification, technological innovations and competition on the development of marketing and branding strategies, supporting the efficient positioning of the high-quality Georgian bee products on the international markets and increase in export. Competition evaluation is critical for determining market possibilities and positioning Georgian beekeeping on global markets. The physiological and qualitative functions of the Georgian mountain grey bee must be emphasized: its gentleness, excessive productivity, and resistance to ailments. The article additionally mentions the importance of a strategic method to boost export capability in integrating technological improvements and contemporary advertising strategies, which include digital technology and database analytics, which will have an instantaneous effect on increasing the charm of beekeeping products. Determining purchaser preferences, cooperation with international organizations and obtaining first-rate certificates are crucial for the global reputation of Georgian beekeeping manufacturers and gaining agreement with customers. Market analysis, contemporary branding, and dynamic marketing are considered the basis for the hit export of Georgian beekeeping products and their established order in international markets. KEY WORDS: Beekeeping, Market analysis, Export, Branding, Legal framework Introduction International markets, with their many opportunities and challenges, require detailed analysis of their complicated mechanisms, especially for a field with unused potential like Georgian beekeepers. International markets, with their multiple opportunities and challenges, require analyzing their complex mechanisms in detail…
subject: Publishing permissions
  topic: section
subject: Beekeeping
  topic: keywords
subject: Market analysis
  topic: keywords
subject: Export
  topic: keywords
subject: Branding
  topic: keywords
subject: Legal framework
  topic: keywords
creator: Tsiskara Zarandia
creator: Vakhtang Taktakidze
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-06-25
publication date: 2024-06-25
starting page: 111
ending page: 119
doi: 10.35945/gb.2024.17.010

Information War - International Security Dilemma in the Modern World
type: item
description: In the modern world, in the field of international security, one of the important challenges is the information war. On the other hand, information is a universal and cheap weapon with a limitless scope and high efficiency. Therefore, it can be more dangerous than any conventional means of warfare. During its implementation, the attacking side achieves the desired outcome through the psychological manipulation of common beliefs. During the last ten years, the rate of disinformation has increased sharply. Also, propaganda, espionage, uncontrolled dissemination of state secrets and personal information, massive cyber-attacks and so on. Both states and terrorist organizations use such mechanisms. Today, the most functional means of information in this field are used by terrorist organizations, which often use social media to recruit so-called “Islamic Fighters” and lay out fundamentalism. Cooperation at the international and regional levels is important in fighting cybercrime and protecting critical information infrastructure. For this purpose, within the framework of the Council of Europe, the European Union, the United Nations, NATO, and other international organizations, it carries out active activities on cyber security topics. In addition, protecting against cyber intrusion, even on a small scale, is in the country’s national security interests, and it is crucial to involve each state in the proceeding discussion about information warfare. Keywords: Information War, International Security, “Islamic State” Introduction In the modern world, in the field of international security, one of the important challenges is the information war. In its broadest sense, information war is a fight through information to gain a specific advantage. Over the past few decades, the rapid growth of information and communication technologies and their increasing distribution have significantly increased the importance and consequences of information warfare. In the 21st century, in the …
subject: Publishing permissions
  topic: section
subject: Information War
  topic: keywords
subject: International Security
  topic: keywords
subject: “Islamic State”
  topic: keywords
creator: Tamta Cheishvili
creator: Tinatin Kostava
rights: Copyright (c) 2024 https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-06-25
publication date: 2024-06-25
starting page: 98
ending page: 101
doi: 10.35945/gb.2024.17.008

Analysis of the Relationship between Privatization, Foreign Direct Investment, and Economic Growth in Azerbaijan
type: item
description: The solution of the main problems of the innovative development of the national economy directly depends on the attractiveness of foreign investments. In this study, the relationship between privatization, foreign direct investment, and economic growth is examined. In the analysis part, fully modified Least squares (fmols) and canonical cointegrating regress (CCR) tests, which show the cointegration rate, causal relationship, and correlation, were applied for statistical data reflecting the annual time series between 1996-2021. According to the results of the study, according to the FMOLS test results, it was concluded that a 1 percent increase in GDP led to 1.924,866 percent in privatization, and a 1 percent change in privatization led to a 0.906129 percent change in GDP. It also found that a 1 percent increase in privatization led to a 0.080900 percent (0.1811919 percent per CCR) increase in foreign direct investment. According to the CCR test, a 1 percent change in foreign direct investment also led to a 0.893101 percent change in privatization. Keywords: Privatization, Foreign Direct Investment, Economic Growth, FMOLS Test, CCR Test Introduction The addressed topic is mostly relevant in post-Soviet and other countries where the state owns a large share of the economy. Studying the results of this process, conducted at a high rate in the former Soviet countries about 30 years ago, may create opportunities for generating new ideas and hypotheses for both economic science and appropriate political decision-making. The key goal of privatization, i.e., transforming state property into private one, is to save financial resources and create a ground for more fruitful activity. Privatization as a way to implement economic reforms is a condition for strengthening the market mechanisms in the economic system. It increases the efficiency of the economy and the state budget revenues, creates conditions for healthy competition, and reduces the state’s share and intervention …
subject: Publishing permissions
  topic: section
subject: Privatization
  topic: keywords
subject: Foreign Direct Investment
  topic: keywords
subject: Economic Growth
  topic: keywords
subject: FMOLS Test
  topic: keywords
subject: CCR Test
  topic: keywords
creator: Sevil Abdullayeva
creator: Leyla Yusifova
rights: Copyright (c) 2024 Sevil Abdullayeva, Leyla Yusifova (Author) https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-06-24
publication date: 2024-06-24
starting page: 88
ending page: 97
doi: 10.35945/gb.2024.17.007

Factors affecting the use of e-banking services among customers of Algerian banks: A qualitative study
type: item
description: This study aims to identify the factors influencing the use of e-banking services among clients of Algerian banks. To this end, a theoretical model was proposed based on the technology acceptance model (TAM) and the concept of electronic word of mouth (eWOM). To validate the variables of the proposed model in the Algerian context, we conducted a qualitative study using semi-structured interviews, which were carried out with 17 clients from various cities across Algeria, including those in the east, west, north, and south of the country. The data collected were subjected to thematic content analysis using a constructivist research approach. The results revealed significant effects of perceived usefulness, perceived ease of use, perceived trust, and electronic word-of-mouth (eWOM) on the use of e-banking services among clients of Algerian banks. The results also uncovered other variables that are expected to have a significant effect on e-banking use in Algeria, namely perceived costs and perceived service quality. Keywords: e-Babking use, Algeria, TAM, eWOM 1. Introduction: The use of technology in modern banking services, known as e-banking systems, enhances banking performance, impacts productivity, and reinforces the intention to use these technologies in the digital age (Fatonah et al., 2018, p. 13) [1]. Designated by other terms, such as internet banking, electronic banking, tele-banking, mobile banking, etc. (Hasan et al., 2010, p. 3) [2]. The evolution of e-banking has put an end to endless queues in front of different bank counters, as the internet now allows for multiple banking transactions from anywhere and at any time (Ataya & Ali, 2019, p. 6) [3]. Moreover, in developed countries, many financial transactions are conducted through electronic money (Anouze & Alamro, 2020, p. 11) [4]. Like other developing countries, the Algerian banking sector has made colossal efforts over the past two decades (Bellahcen & Latrech, 2020, p. 6) [5]. These efforts have yiel…
subject: Publishing permissions
  topic: section
subject: e-Babking use
  topic: keywords
subject: Algeria
  topic: keywords
subject: TAM
  topic: keywords
subject: eWOM
  topic: keywords
creator: Rachid Mansour
creator: Mokhtar Tahraoui
rights: Copyright (c) 2024 Rachid Mansour, Mokhtar Tahraoui (Author) https://creativecommons.org/licenses/by-sa/4.0/
date: 2024-06-24
publication date: 2024-06-24
starting page: 71
ending page: 87
doi: 10.35945/gb.2024.17.006