International Journal of Innovative Technologies in Economy

ANALYSIS OF WASTE CONTAMINATION IN AJARA REGION'S MOUNTAIN RIVERS AND ITS FINANCIAL EXPENSES

Guram Darchidze — Sat, 25 May 2024 00:00:00 +0000

Anthropogenic impact did not go beyond water resources therefore, the study of water resources and its rational use is of great importance for the development of the country. Ajara is one of the most beautiful and strategically important regions of Georgia due to its location, wealth of flora and fauna, tourism and recreation. In this region we find a hydrological network of medium length and small rivers. As a result of anthropogenic influence, the river water is polluted both chemically and biologically. The practical significance of this research is as follows: determination of the level of biological pollution for monitoring the quality of surface water in the Ajara region, laboratory analyzes and inspection of river basins, after which a plan and cost estimate will be developed, what financial resources will be needed for laboratory studies of existing pollution. As a result of the mentioned studies, the foundation will be laid for the creation of databases on the state of rivers in the Ajara region, based on which it will be possible to plan and carry out future works, which in turn will definitely have a positive impact on the local population and the interests of the country. The Autonomous Republic of Ajara was selected for the study, where for the first time the main polluting circumstances and sources of a certain number of rivers are observed and the underlying causes determined. 10 independent catchment rivers were selected for pollution study using laboratory analysis. In each river, laboratory sampling points were selected and laboratory analyzes were carried out for pH, E. coli, nitrites, total coliform bacteria and streptococci parameters. The article presents the results of the research process and the cost per sampling location, totaling the cost for 10 rivers that will be needed to continue the mentioned studies in the future.

The article is completed with the support of the Shota Rustaveli National Science Foundation of Georgia (SRNSFG). Project No. PHDF 22-2127.

ECOTOURISM INITIATIVES CONTRIBUTION TO IMPROVED LIVELIHOODS: A CASE OF UMKHANYAKUDE DISTRICT MUNICIPALITY

Fikile Xaba, Eyitayo Francis Adanlawo, Nomusa Yolanda Nkomo — Mon, 20 May 2024 00:00:00 +0000

South Africa adopted tourism policies that advocate the active participation and involvement of local communities in ecotourism initiatives to improve sustainable livelihoods. This study investigated the contribution of ecotourism initiatives to improved livelihood of UMkhanyakude District Municipality. Eight (8) participants each from four local municipalities, making a total of 32 were purposively interviewed. Data from the participants were processed through the ATLAS TI application. The results revealed that ecotourism contributes to improved livelihood and has also put pressure on community assets such as land, wildlife and cultural practices. The study concludes that despite the prevailing challenges, opportunities exist regarding improvement in the implementation of ecotourism projects and the beneficiation of local communities. The study recommends that ecotourism policy practice at local government level be focused on local communities rather than economy and the tourism industry's commercial sector.

UNDERSTANDING VOLATILITY IN FINANCIAL MARKETS: A ROADMAP FOR RISK MANAGEMENT AND OPPORTUNITY IDENTIFICATION

Orkhan Vagif Rustamov — Mon, 10 Jun 2024 00:00:00 +0000

Volatility in financial markets has long been recognized as a crucial metric for risk management and opportunity assessment. This paper explores the significance of volatility as a key indicator in financial markets, its role in managing risk, and its potential as a roadmap for identifying opportunities and challenges. Drawing upon an extensive literature review and quantitative analysis, we delve into various aspects of volatility, including its measurement, implications, and applications. The methodology encompasses a comprehensive examination of historical market data, employing standard deviation and GARCH models to estimate volatility measures. The findings highlight the importance of understanding volatility dynamics for effective decision-making in financial markets. Key results include the identification of volatility clustering behavior, the significance of implied volatility in reflecting market sentiment, and the critical role of volatility in risk management and asset allocation. The discussion emphasizes the theoretical and practical implications of the research, offering valuable insights for investors, policymakers, and researchers. This study contributes to the ongoing discourse on volatility in financial markets, providing a robust framework for navigating the complexities of market dynamics and identifying potential opportunities amidst uncertainty.

THE IMPORTANCE OF COMPETITION IN THE FORMATION OF A FAVORABLE BUSINESS ENVIRONMENT

Zaur Asadzade — Sun, 26 May 2024 00:00:00 +0000

In the realm of economic theory and practice, competition stands as a cornerstone in shaping a conducive environment for businesses. This article delves into the paramount importance of competition in fostering innovation, efficiency, and ultimately, economic growth. By analyzing the multifaceted impact of competition on market dynamics, consumer welfare, and industry evolution, it becomes evident that competitive forces play a pivotal role in driving businesses towards excellence and sustainability. Furthermore, the article explores the regulatory frameworks and policies essential for maintaining fair competition, thereby ensuring a level playing field for all market participants. Each independent state, which is a part of the global economy, tries to form a favorable business environment within its borders. It is impossible to form a favorable business environment without forming a favorable competitive environment. Research shows that there is a reciprocal relationship between competition and business. Because a favorable competitive environment forms a favorable business environment, the absence of a favorable business environment results in a favorable competitive environment not being fully formed in that region. In this regard, the article talks about the interaction of both concepts, as well as the exceptional importance of competition in the formation of a favorable business environment. The author considers a favorable competitive environment as a trigger factor for a favorable business environment. In the article, a statistical table was formed with reference to the statistical indicators of the international economic form for the comparison of competitiveness at the global level by evaluating competition, interindustry and intra-industry from different aspects and competitiveness between countries was evaluated from different aspects.