Analyze Of Business Development Tendencies In South Caucasus Acording To Economic Freedom And Global Competitive IndexesJournal: Innovative Economics and Management (Vol.IV, No. 2)
Publication Date: 2017-05-30
Authors : EVGENI BARATASHVILI TAMAR MATCHARASHVILI;
Page : 263-270
Keywords : Business; Economic Indexes; South Caucasus Region;
The main topic of the article is to define business development trend of South Caucasus countries- Georgia, Armenia and Azerbaijan according to Index of Economic Freedom and Global Competitive Index. According to the index of Economic Freedom Georgia is Mostly Free country, while Armenia and Azerbaijan are Moderately Free countries. According to Global Competitive index Georgia is only one which has positive trend in all analyzed factors (e.g. basic requirements, efficiency enhancers and sophistication and innovations). Also we have to remark that doing business problems in Georgia is not connected with corruption and inadequate tax regulations. In case of Armenia and Azerbaijan, they have a positive trend about efficiency enhancers and innovation and sophistication sub indexes, but basic requirements have negative one. The reason of this is institutional, infrastructural and macroeconomic problems. Also corruption problem which still exists in these countries. These 3 South Caucasus Countries still have to work hard to achieve high economic standard. Such indexes are good indicators to see where is problem and in which direction country should work to overcome it.
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