A MACRO MODEL OF GEORGIA’S SOCIOECONOMIC DEVELOPMENT AND ITS USE IN FORMING ECONOMIC POLICY
Abstract
Macroeconomic modeling of the national economy is an analytical tool based on scientifically proven ideas designed to examine the possible growth rates of the gross domestic product (GDP), its rational allocation into consumable and accumulable parts, investment efficiency, and return on capital and labor employed. It can be used to designate the most important long-term indicators, such as rate of return. And all of this, in turn, provides starting points for drawing up structural and investment policy at the interstate and interregional level for bringing the designated economic growth rates to fruition.
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References
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