THE ECONOMIC EFFECT OF LARIZATION AND ITS IMPACT ON FINANCIAL STABILITY IN GEORGIA

David Tchiotashvili; Khaliana Chitadze

David Tchiotashvili Doctor of Economics, Professor of Gori State University, Gori, Chavchavadze st., №53, 1400, Georgia http://orcid.org/0000-0002-2500-6252
Khaliana Chitadze Doctor of Economics, Assoc. Professor of Gori State University, Gori, Chavchavadze st., №53, 1400, Georgia http://orcid.org/0000-0001-6795-9484

Abstract

Larization is a key concept that involves the creation of an economic, financial and social spectrum, and is based on the traditional principles of economic growth and the social interests of society. In the context of globalization, significant reforms in Georgia in recent decades have led to significant economic progress for the country, however, the process of Larization for the country still faces many challenges, which are important not only at the national but also at the global level.

The paper discusses the economic effect of Larization in Georgia and its impact on the country's financial stability and the main challenges that accompany this process. The aim of the paper is to analyze the effective steps taken towards sustainable Larization and the main processes that contribute to the effective development of the country, financial stability and social impact.

Keywords: Larization; Larization effect; Financial stability; Economic effect; Social effect.