Abstract
In this article we have overviewed the present conditions of Georgia and proposed some ideas about how to turn Georgia from a backward country into a developed one. The article, “Market foundation for sustainable economy growth and energy policy (Georgian Case)”, highlights the importance of the strong and reliable energy system for sustainable economic growth, their interaction, the luck of market tools and market price (capitalization) and energy problems in Georgia, including the dysfunctions of regulatory Commission. At the same time, we have highlighted and presented the negative gap between the per capita GDP and energy consumption rates in Georgia and the developed countries, like Switzerland, the US and the Europe. Also, it had investigated the ways how to encourage economic growth in energy sector in Georgia based on modern market tools.
Highlights
The mission of research proposal is to find out the real solution to rapidly developed countries like Georgia based on modern capital market tools
If we look closely on per capita GDP in Georgia [3], its figures do not show the rapid growth tendency to narrow negative gap in development: (Figure 1)
The analysis of the structure of owners of Georgian Stock Exchange shows that as of December 2015, 58% of shares of the stock exchange were owned by its competitor—Georgian commercial banks. It means that Georgian commercial banks will not allow the development of their competitor—the stock market as it threatens their own preferential and successful financial position
Summary
The mission of research proposal is to find out the real solution to rapidly developed countries like Georgia based on modern capital market tools. That issue itself heavily depends on energy sources. To illustrate wide gap between the developed economy and the weak one, let us compare the current level of per capita GDP of Switzerland to Georgian one: an average income of middle-income Swiss citizen (58,996.90 USD) [1] is more than 2 years’ (24 months) income of Georgian citizen (2254.38 USD) [2]. If we look closely on per capita GDP in Georgia [3], its figures do not show the rapid growth tendency to narrow negative gap in development: (Figure 1). (2016) Market Foundation for Sustainable Economy Growth and Energy Policy (Georgian Case).
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