ეკონომიკური ზრდის მოდელები და მათი მნიშვნელობა პოლიტიკის შემუშავებისას

This work seeks to answer such questions as: what are the causes of economic growth and how to achieve high sustainable economic growth. To answer these questions, in the first part of the work, theoretical models of economic growth are discussed. On the basis of the theoretical models, the following part of the work focuses on economic growth models such as: Solow’s growth model, in particular – Cobb-Douglas production function, and Romer’s endogenous growth model, as well as, methodology to implement these models in practice.Peculiarities of Georgian economy is provided to build the production function of Cobb-Douglas as realistic as possible, to give us, precise picture of present situation.
After considering the theoretical model and the methodology required for its practice, economic variables such as stock of capital, labor and capital elasticities, total factor productivity and potential output are counted for Georgian economy. Based on these variables, in subsequent part of the work are identified trends and challenges of Georgian economy.
In the final part of the work, quantitative and qualitative reasoning, answers the question: what is necessary for the Georgian economy to be characterized by high sustainable economic growth.
Afterwards, it is also discussed in what way and how it is possible to increase the potential output of Georgia and relevant recommendations are made.