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SECTION: INNOVATIVE ECONOMICS

Qoqiauri L., Conceptual Basis Of Conception Of National Innovative System.  (p.,10-26)
The work refers to the most actual and problematic topics of the XXL century scientific researches and in general, origins of innovations, creation of mechanisms of  innovative economics and description of evolutionally developed way of national innovative system;  The work shows the meaning of conception, genesis, motivation, preconditions of methodology. The work studied founders of  conception of national innovative system,  first pioneers and their contribution  in creating  theoretical basis of conception. In the work, on the basis of studying and generalizing famous scientist- researchers works about innovations and innovative development, we tried to describe searching methodology of conception, its structural, objective and functional combination.
Keyword:  innovations, innovative system, innovative economics, innovative business, knowledge, technologies, nonmaterial activities, commercialization, neoclassical theory of innovations.
LAMARA QOQIAURI, Doctor of Economics, Academician of Georgian Economics Academy. Tbilisi, Georgia
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SECTION: MANAGEMENT AND MARKETING

G. Katamadze., I. Abashidze., Social Media Marketing As A Factor For Boosting Small Business Competitiveness. (p.,27-33)

Amongst different types of internet marketing, social media marketing gives one of the most favorable opportunities to small business for boosting its competitiveness. Social network is a space where equal opportunities are available for small and big companies. Consumers are able to make choices between numerous alternatives. Thus, it is vitally important for small business to utilize social media effectively. To achieve this goal, it is necessary to possess relevant competences and elaborate strategy. Basic principles, opportunities and challenges of social media marketing are discussed in this article in terms of supporting small business competitiveness. Besides, a marketing campaign conducted by the authors in Facebook is provided as an example. Practical recommendations are suggested as a conclusion in the final part.
Keywords: Internet marketing, social media, small business, competition.

GULIKO KATAMADZE, Ph.D. in economics, Batumi Shota Rustaveli State University associate professor
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IRAKLI ABASHIDZE, PhD Student, Batumi Shota Rustaveli State University
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SECTION: MANAGEMENT AND MARKETING

E. Kharaishvili., B. Gechbaia., Wine Brand And Wine Tourism Development Perspectives In Georgia (p.,34-41)
The role of wine brand in the sector of vine-wine growing and development of wine tourism is argued in the article. The wine tourism is examined as the prospective trend of vine-wine growing as the traditional field of population business, with less expenditure, high Marge of profit and increasing tendency of demand.  
The work examines the tendencies of wine-vine growing in world as well as in Georgia. The dynamics of wine producing is given and the Georgian wine brands are evaluated on the basis of wine classification. It is concluded that Georgian wine take active part in world market and wine and alcohols drinks international exhibitions in the form of united brand, and through the way of seeking new markets and sales the opportunities for attracting tourists is increasing.
Wine tourism is examined in united concept of agro tourism, problems existing in the field of agro tourism are revealed using relevant criteria: the cost of landscape and beauty; territories with wild nature and wilderness; cultural values; particularly useful conditions for hunting, fishing, sliding, mountain climbing; availability at foreign markets of customers; effective and professional promotion and commercial activity and relevant management. According to these factors the comparative advantages of Georgia are being established.  
For evaluating the impact of wine brand on wine tourism the qualitative research was made. Through the average indicators of attracting regions for developing agro tourism the tourist products of wine and services are revealed; hostels, degustation of local cuisine, wine degustation, possibility of harvesting grapes and wine pressing. The following is considered as the product less developed: visiting wine house-museums, acquaintance with local folklore, acquaintance with tourist routes “wine road.”
The relevant reports are made regarding the prospective development of wine tourism and wine brand in Georgia and relevant recommendations are offered.      

Keywords: wine brand, wine tourism, wine-vine growing, agro tourism.

ETER KHARAISHVILI, Doctor of Economic Sciences, Professor Ivane Javakhishvili Tbilisi State University Head of Microeconomic Department
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BADRI GECHBAIA, Doctor of Economic Sciences, Associated Professor Batumi Shota Rustaveli State University Head of Business Administration, Management and Marketing Department
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SECTION: MANAGEMENT AND MARKETING
E. Mikeladze. Value Of Time And Related Issues In Georgia (p.,42-47)
Unfortunately, time management is not drawn the relevant attention to in Georgia. As a rule, there are half-loaded working processes. Moreover, it can be estimated as a chaotic state from the point of view of time managing, as well as the working processes are not oriented on the results. The same can be said about drawing up and accomplishing the plan of operational and strategic development, which do not meet the desirable rate. The decisions made without relevant discussions, and consequently, business meetings are not effective.
Everyone confesses that “time is money”. And money is one of the essential factors for existence. You have no opportunity to succeed if you are not able to manage time properly. A great number of people simply waste their time, which is impossible to stop or take back. This is why each person should create a modern time-managing machine individually.
According to the world-wide recognized scientist-economist I. Capleroy “God gifted mind to humans to perceive that mysterious order that governs the universe, and this perception should be the basis for humans to create their own environment.” According to Dibro “it’s useful to know that the desire of doing something encourages you and simplifies your job.”
Keywords: Time management, day schedule, goodness
EDUARD MIKELADZE, Doctor of Economy, Professor Georgian Patriarchate St. Tbel Abuserisdze Teaching University. Khichauri, Georgia
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SECTION: SOCIAL ECONOMY
H. Dyvnych. English Language Competence Of Civil Servants As A Mechanism Of European Integration Of Ukraine (p., 48-55)
The article researches the question of English language competence as a mechanism of European integration of Ukraine. In particular, such notions as “mechanism of state governance”, “mechanism of European integration” and “English language competence” are studied in their interrelation. The terms, stated above, are still in the process of definition and clarification, which makes it necessary to outline the existing approaches to their understanding both in national and foreign discourse, and highlight the important present aspects for our research.
 It is stated that English language competence of Ukrainian civil servants is a prerequisite for the ongoing Eurointegration of Ukraine. It influences the proficiency of civil servants, corresponding to personnel management mechanisms of state governance, and lead to intensification of intercultural communication not only at official meeting, but also due to personal contacts. The last contributes to a more fluent discussion of arising questions and information exchange. The efficiency of governmental work under the developing relationships with (and in future within) the EU has the importance that I hard to overestimate.
Therefore, conclusions have been made as to the place of English language competence among mechanisms of European integration of Ukraine. Separate suggestions regarding necessary appropriate changes in the sphere of civil servants preparation and work have been given.
Keywords: a mechanism, state governance, European integration, civil servants, English language competence, Ukraine, the European Union, improvement.

HANNA DYVNYCH, teacher, Chernihiv National University of Technology
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SECTION: SOCIAL ECONOMY
N. Kholiavko., Financial Issues In Higher Education Sector Of Ukraine Under Conditions Of Information Economy Formation (p., 56-60)
The article defines the role of higher education sector in modern processes of information economy formation. The author analyzes current tendencies of financing of higher education institutions in Ukraine, with an emphasis on financial aspects of research activity. On the bases of the study of typical models and financing methods of the higher education sector in Ukraine, the author identifies the prospects of finance sources diversification in conditions of both information economy formation and scientific-educational area globalization and internationalization.
Keywords: information economy, higher education sector, higher education institution, diversification of finance sources, fundraising.
NATALIIA KHOLIAVKO,Candidate of Economic Sciences, Associate Professor Chernihiv National University of Technology Chernihiv, Ukraine

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SECTION: SOCIAL ECONOMY
A. Verbytska. Conceptions Of The National Policies Of Higher Education Internationalization In European Union Countries (p., 62-69)
As internationalization becomes an increasing priority for higher education worldwide, national governments are implementing policies and programs to promote related activities in their countries Motivated by a variety of academic, economic, political, and social goals, governments in the EU are implementing policies and programs developed to enhance higher education internationalization. The purpose of this paper is to better understand national policies and programs for internationalization of higher education in a comparative context, examine issues of effectiveness, and consider the future and impact of such initiatives going forward. This paper analyses the government-initiated higher education internationalization programs and policies in EU. Numerous policy examples presented, and issues surrounding implementation and effectiveness are considered. This paper categorizes such policies by primary activity type and discusses key factors that can impact policy success.
Keywords: internationalization, higher education, higher education policy, international education, intelligent internationalization, mobility, universities, international collaboration.

ANNA VERBYTSKA, PhD in Public Administration, Chernihiv National University of Technology
Chernihiv, Ukraine

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SECTION: FINANCE AND BANKING POLICY
M. Slatvinskyi. L. Chvertko., Direct Foreign Investments And National Security: Problems Of Investment Policy (p., 70-79)
The article is aimed at studying the dependence between the level of national security and foreign direct investments inflows on the basis of which certain directions of the state investment policy in the context of strengthening national security are determined. The basis for the analysis was data on the level of national security of a number of countries with its different levels in order to compare with data on foreign direct investments inflows in these countries.
The authors determine the behavior of investors in countries involved in conflicts. It is found that the presence of threats to national security is reflected negatively on the level and trends of foreign direct investments. In turn, the behavior of investors cannot be considered unambiguously, since not all of them refuse to invest in conflicting countries.
The graphic analysis of investment and macroeconomic indicators that allowed asserting the presence of their coherent dynamics and formulating the hypothesis about the dependence between foreign direct investment inflows and the level of national security is carried out. The degree of this dependence and its orientation are determined using the Granger test.
The authors proposed main directions of the state investment policy aimed at ensuring national security on the basis of their calculations.

Keywords: investment policy, direct foreign investments, national security, investment risks, investors’ behavior, armed conflicts, economic instability.

MAKSYM  SLATVINSKYI, Ph.D., Associate Professor, Educational and Scientific Institute of  Economics and Business Education of Uman State  Pedagogical University named after Pavlo Tychyna
LIUDMYLA CHVERTKO,  Ph.D., Associate Professor, Educational and Scientific  Institute of Economics and Business Education of   Uman State Pedagogical University named after Pavlo Tychyna

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SECTION: FINANCE AND BANKING POLICY
B. Gechbaia., N. Vdovenko., A. Nevesenko. Transformation Of Measures Of Extension Filling Of The Budget Of The Rural Areas In Accordance With The Provisions Of The EU (p., 80-84)
The article describes proposals for the introduction of conditions for sustainable development, the definition of subjects, objects and main motive forces which take part in the process of sustainable development of rural territories. It is proved that the process of Ukraine's integration into the global economic system as a possible way of formation and development of the system of sustainable development of rural territories, adjustment of economic indicators in a harmonized cyclical process with other elements of the global economic space in the context of Ukraine Association Agreement with the European Union.
Keywords: budget support, agriculture, resources, sustainability, scarcity, environment, development.

BADRI GECHBAIA, Doctor of Economic Sciences, Assoc. Professor,
Batumi Shota Rustaveli State University. Batumi, Georgia
NATALIIA VDOVENKO, Doctor of Economic Sciences, Professor,. Head of Department of
Global Economy National University of Life and Environmental Sciences of Ukraine Kiev, Ukraine
АNNA NEVESENKO, Postgraduate. Kiev, Ukraine

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SECTION: SECTORAL AND REGIONAL ECONOMY
B. Tursunov., Increasing Effectiveness Of Usage Textile Enterprises` Capacity On Basing Of Industrial Inventory Management (p., 85-89)
In this paper have been discussed problems of increasing effectiveness of usage textile enterprises` capacity on the basing of industrial stocks management. By the author classified modern management methods of managing industrial stocks and some ways of achieving effective inventory management at textile enterprises.
Keywords: warehouse, effective inventory management, capacity, industrial stocks, textile enterprises, stocks,  modern management methods.

BOBIR TURSUNOV, PhD student of Tashkent State University of Economics Tashkent city, the Republic of Uzbekistan
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SECTION: SECTORAL AND REGIONAL  ECONOMY
L. Jakhaia., Land Consolidation, Land Bank-The Most Important Tools For The Development Of (p., 90-95)
Development of agriculture is a priority for the world. Fragmentation of the plots is a problem as for Georgia as well for more other countries. To overcome this problem, the consolidation of the land in the central and eastern European countries started in the 80 ies of the 20 ies. Which helps to increase productivity and competitiveness of small farms at international level.
The second important instrument of solving the mentioned problem is land bank, the aim of which is buying and selling them from private individuals in usual market conditions, which facilitates landslides and diversion of state land.
Keywords: Agriculture, smaller land, fragmentation of the land plots, landlines, land consolidation, obligatory consolidation pilot project, effective tools, land bank.

LELA JAKHAIA, Batumi Shota Rustaveli State University PhD Students, Batumi, Georgia
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SECTION: SECTORAL AND REGIONAL  ECONOMY
R. Jabnidze., N. Jabnidze. Impact Of The Climate Change On Grape Development  And The Yield  (p., 96-101)     

Grape-growing and wine-making has received the highest raising in 20th century, the vintage area has exceeded 120 000 ha; wine factories have been built; scientific centers for the field management have been established.
Notwithstanding the fact that this sector has undergone hard disruption, and today the vine planting is decreased to 40-60 thousand ha, and the grape producing has gone down from 550-560 thousand tons to 150-220, In spite of this vine-growing and wine-making are still the leading fields of always been rendered as the business of the high priority.
Climate changes provide exceptional conditions for spreading of the grape main pests and diseases, reproduction and spreading of which significantly relate to the temperature and moisture conditions, especially in Adjara. We are familiar with the optimal conditions necessary for their reproduction and spreading increase or decrease of which might cause grape damage intensity significant change, and influence negatively the grape harvest and its quality. Due to all that it is necessary to define the correlative relation of the temperature and moisture change over spreading of these dangerous pests and diseases.
The climate change will impact the vine in the following direction: changes on grape phenology; harvest, quality, replacement of the grape spreading borders, style, assortment of species or vine-growing directions, the negative impact of the extreme weather shall be taken into account; avoidance high level and increased need for the irrigation water, etc. Adaptation might soften the negative effects caused by such changes.

Keywords: Vineyard, climate, yield, vine, wine, Georgia, grape production, vineyards area, seedlings.

REZO JABNIDZE, Academician of Georgian Agricultural Sciences Academy. Professors of Batumi Shota Rustaveli Shteite University. Batumi, Georgia
NANA JABNIDZE, Professors, St. Tbel Abuserisdze Teaching University,  doctor of agriculture. Khichauri, Georgia

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SECTION: WORLD ECONOMY
P. Aroshidze., “One Belt - One Road” And Prospects Of Georgia's Transport Corridor (p., 102-110)
By the end of 2014, the central government of China declared the readiness to develop “alter of the Great Silk Road" – “One Belt - One Road". According to this project, China will economically be connected to Europe, the central and South-West Asia, Africa and Australia. The goal of this project is to export technology and "know-how" from China, high-speed railways, infrastructure development and service delivery to the whole world. Instead China will be able to import agricultural, health care and energy products, also other important commodities that are essential for China. The modern version of the “Great Silk Road” has the serious basis to fully change the global economic landscape. China from "World Factory" will become the main exporter of technologies and techniques, "World Trade Center" and the main hub of central electronic trade. "One Belt - One Road" will not only increase cargo turnover between China and the rest of the world, but also will make it possible to exchange experience between Europe and Asia. The project includes the following directions: 1. China-Central Asia-Russia-Europe (with the Baltic Sea); 2. China-Central Asia-West Asia-Persian Gulf-Mediterranean Sea; 3. China-North-East Asia-South Asia-India Ocean. The international economic corridors are planned to be created in these directions of: "China-Mongolia-Russia", "China-Central Asia-West Asia", "China-Indochina", "China-Pakistan", "Bangladesh-India-China" and "China-Mediterranean Sea".
 Implementation of this project is important for Georgia, because the economic corridor of China-Mediterranean Sea borders the territory of Georgia and the country's favorable geopolitical location can be used in this context. It should particularly be noted that in May 2017, the Free Trade Agreement was signed between Georgia and China, and China expressed readiness to establish an international bank in Georgia with a capital of 1 billion US dollars. Especially important is the prospect of the use of marine ports of Georgia. On the official map, which includes the project “One Belt - One Road” the Deep Sea Port of Anaklia is marked.
It can be said that the new project of China will give a new possibilities to the transit function of Georgia, which will facilitate the country's geopolitical strategy and should be the basis for political security and economic growth of the country.

keywords: One Belt - One Road, China, Georgia, Transport Corridor, Trade Agreement

PAATA AROSHIDZE, Candidate of Economic Sciences Associate Professor of the Batumi Shota Rustaveli  State University. Batumi, Georgia

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SECTION: WORLD ECONOMY
N. Baratashvili., Z. Pharsenadze., Tax Aspects Of Free Trade With The EU (p., 111-120)
The step towards the liberalization of trade in the international labor distribution should be considered as the most important event for Georgia’s economic development. One of the most important part of the Association Agreement between Georgia and the EU is the Deep and Comprehensive Free Trade Area Agreement, which covers liberalization of trade for goods and service.
The economic goal of the agreement between Georgia and the EU is to support the modernization process of Georgia’s economy, to support and expand trade with the EU and World’s largest trading partners
Based on the EU’s best practices through reforms, which will stimulate to reach highest levels for Georgia-EU economic integration. The core of Association Agreement’s economic part includes both tariff and non-tariff barriers in trade, in addition it covers obligations taken by the both sides.  The agreement will benefit Georgia in terms of increasing prosperity of its citizens, who will have access to higher quality products in the domestic market, and with a more distant prospect their income will be increased   due to new business opportunities and economic growth promoted by the European integration.

Keywords:  Free trade, Export, Import, Tarrifs, the European Union, Association Agreement, Tax.   

NAZI BARATASHVILI, Doctoral Student of Kutaisi University. Batumi, Georgia
ZAZA PHARSENADZE, Doctoral Student of Kutaisi University. Batumi, Georgia

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