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Delcho Poryazov
Economy and Society: Highlights
Summary:
The pattern of the economic system has undergone dramatic changes over the past century, especially in terms of global markets. Golden standards are now part of the history. The US dollar has been an international monetary unit since 1944. Sixty years later, the Euro appeared. The trend in the development of economic processes indicates that future global markets will be the product of the national currencies of the countries with the most advanced economies. This trend is promoted by the process of globalization. On the other hand, state intervention in the economy will be indispensable in near future. Not only is there room for such intervention, but the need to intervene is growing more and more immediate. However, it is people who have an essential role to the development of the economy, since no economic system could exist without people. It is people who ‘breathe life’ to the economy. Economy was invented by people for the sake of people, i.e. to provide for their existence. Hence, the focus of economy must be on people. It is the economy which should exist in favour of people, not people who should exist in favour of the economy.
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Lia Kekelidze
THE INVESTMENT ENVIRONMENT AND THE PROBLEMS
OF ORIGINATION OF INVESTORS’ OWNERSHIP OVER REAL ESTATE IN GEORGIA
Summary:
In this research of the Investment Environment and the Problems of Origination of Investors’ Ownership over Real Estate in Georgia we have discussed importance of attraction of the direct foreign investments and the problems existing in the economy of Georgia. Besides, we have analyzed the direct foreign investments based on the statistic data and proved the effective role of the direct foreign investments in stimulation of the Georgian economy. In our research we have analyzed the problematic aspects preventing attraction of investments in Georgia. Also we have considered the ways and methods promoting influx of direct foreign investments in Georgia. The main accent is made on the Georgian legislative basis.
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N. Gushterov
Electricity Market Regulation – a Hindrance or a Necessity
Summary:
Over the past thirty years we have been witnessing radical changes in the organizational structure of electricity markets worldwide. The vertically -integrated structures (VIS), typical of this industry, have disinte¬grated into small and independent companies to stimulate competition. A milestone in reforming the electricity markets was the establishment of a regulatory body and regulatory mechanisms that accompany the process of liberalization. However, are these mechanisms and regulation in general required? The purpose of this article is to find an answer to this question. The research area is the regulation of energy markets as a method for increasing the efficiency of companies and market operation. The research subject focuses on the different regulatory mechanisms used in the electricity markets in the EU and Bulgaria. The analysis made gives us grounds to identify an objective need for regulation of the electricity markets. Two of the four segments of the market, and namely transmission and distribution of electricity need regulation. The regulation of the other two segments, production and supply, should be limited to a minimum.
