ქართ | Eng

ISSN 2449-2396 (Print) | E ISSN 2449-2612 (Online)

JEL Classifications: E6, E65, E69


https://doi.org/10.35945/gb.2021.11.002



THE PROBLEM OF DOSING AND DELAYS IN THE PROCESS OF USAGE OF ECONOMIC POLICY INSTRUMENTS

Author: Revaz Gvelesiani, Givi Bedianashvili | Published: 2021-07-15 | Pages: 16 - 24

Full Text

For Citation: Gvelesiani, R., Bedianashvili, G., (2021). The problem of dosing and delays in the process of usage of economic policy instruments. Globalization and Business. 11: 16-24. (In Georgian) https://doi.org/10.35945/gb.2021.11.002

Abstract

In order to make a rational decision in economic policy, it is necessary to examine and understand the importance of conformity tools towards the goal. This should be done in relation to the whole system of goals, including the goals that are recognized as core values. Criteria needed to reduce decision-making costs require a criterion that facilitates evaluation. We should also consider which tools are allowed to solve a specific problem based on the economic policy program. Such a program is a concept of economic policy. It provides us with sufficient and unambiguous information on substantive and politically significant consensus. It is a matter of consensus that the economy, as an integral part of a more inclusive system of public goals, has a subordinate place. This condition determines its value. Considering these circumstances, it is easy to determine whether the goal is conforming to the system. Conformity to the system is the criterion by which it is measured, which is the main thing in the concept of a given economic policy.

In determining the long-term socio-economic development strategy of the country in the process of economic policy-making, it is important to ensure the targeted orientation of macroeconomic parameters at the macro-systemic level. In addition, the level of the country's economy and social sphere, the state of entrepreneurial activity and the business environment in general, the peculiarities of cultural characteristics, the existing mechanism of socio-economic relations (institutions) and the peculiarities of value orientations of society should be taken into account.


Keywords

Goals and Instruments of Economic Policy, Decisions of Economic Policy, Compliance with Goals, Concept and System, the Problem of Knowledge and Assessment, Dosage Limits of Instruments


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