The article of Prof. Erekle Pirveli „Economic policy of COVID-19: an emerging country perspective" Was published in the international scientific peer-reviewed journal International Journal of Economic Policy in Emerging Economies.
The journal is indexed in the international scientific database of SCOPUS (Elsevier). The study has been carried out in collaboration of the Business and Economics Schools of Caucasus University and Ludwig Maximilian’s University of Munich for two years.
This work aims to establish a sectoral priority ranking for the emerging economy of Georgia. Based on 1,886 small, medium and large private entities from eight largest sectors of the economy, we build a novel Sectoral Performance Index (SPI), detecting sectors’ existing as well as potential contributory roles measured by GDP production, employment, intersectoral trade and firm-level efficiency (size, income levels and profitability).
Findings reveal that manufacturing industry, due to its deepest inter-sectoral networks in the input-output matrix, performs best and thus may serve well as an economic backbone of the country. The results are inconsistent with Georgia’s current economic agenda with the focus on tourism industry. The latter, due to its high crisis-vulnerability and low performance, neither is suggestible as a top priority sector throughout the hard-times of COVID-19, nor is recommended in other times of economic development.
See the full article.