Suchergebnisse

The aim of the article is to describe theoretical concepts related to the effects of state subsidies on enterprises & to discuss the magnitude & effect of state aid on enterprises during the transformation of the Czech economy. Subsidies to enterprises during transformation were high, often transparent, & above the European Union average. During 1997-2003 registered state aid reached 362 bn. CZK. More than 90 percent of the total registered state aid went to awards the rescue & restructuring of enterprises. It can be roughly estimated that during 1997-2000 state aid was twice as high as officially registered. Share of state aid to enterprises in public debt increased & reached 70 percent by 2003. Non-transparent channels of state aid distribution decrease the efficiency of state aid, as they distort market signals & decrease motivation for fair competition. Tables, Graphs, References. Adapted from the source document.

The report summarizes the conditions of the small and medium size enterprises (SME) sector in Georgia, identiies main problems in their development and provides recommendations for further interventions based on the Czech experience, research of existing literature and own survey among SME stakeholders in Georgia. Georgia is a small open economy. Its structure has been changing during last decade dramatically what provides opportunities for start-up companies. The revealed comparative advantage is in mineral waters, nuts and wine, but the opportunity to export also encompass metals, electricity, chemicals, stone, glass and clothing. One of the fast growing industries is tourism. Exports have increased over the period, although Georgia remains to be a net importer. Geogia attracts relatively large amount of foreign direct investment (FDI), large share of FDI in lowed from the European Union (EU) countries. Georgia receives favourable evaluations of its business environment. It ranks high in indices of economic freedom and it is among the top countries with respect to ease of starting and doing business. [.]