Social Economics

ARCHETYPES OF GENAI USERS: CASE OF GEORGIA

2025-09-05T12:49:39+00:00

We explore how individuals in Georgia engage with generative artificial intelligence (GenAI) by identifying distinct user archetypes based on engagement frequency, the number of tools used, and whether users apply these tools in professional contexts. Drawing on BTU’s Quantitative Research on GenAI Users in Georgia, we develop a classification model that captures a wide range of behavioral patterns and reveals six dominant user archetypes that shape the country’s evolving AI landscape.

We actively examine how users integrate GenAI into daily routines, either through single-tool specialization or multi-platform flexibility, and whether their use is linked to work or personal exploration. The most prominent archetypes include Power Users, who engage heavily with multiple tools for professional tasks; Dedicated Specialists, who master a single tool for consistent work-related use; and Occasional Explorers, who turn to GenAI casually and infrequently. Additional profiles such as Curious Part-timers, Versatile Performers, and Balanced Professionals reflect intermediate or hybrid usage styles, combining varying levels of frequency, diversity, and purpose.

Our findings reveal strong differences by gender and age. Female users tend to adopt a structured and consistent approach to GenAI, often aligning with archetypes that reflect efficiency, reliability, and tool mastery. Male users more often appear in archetypes marked by either intensive use or sporadic experimentation. Meanwhile, younger users display curiosity-driven behaviors, while older individuals integrate GenAI more strategically into their professional workflows.

This research addresses the current gap in AI user classification by offering an empirically grounded, multidimensional framework. We move beyond narrow definitions and propose a scalable typology relevant to education, policy, and product development. The Georgian case demonstrates how digital societies in transition adopt AI not just as a tool but as a working habit-shaped by professional roles, digital maturity, and socio-demographic factors. These insights support the design of targeted training programs and AI tools adapted to specific user needs and expectations.

WHO CAN MORTGAGE TO BUY FINISHED HOUSING? AN EMPIRICAL ANALYSIS OF A FORMER SOVIET REPUBLIC

2025-09-05T12:52:02+00:00

The housing markets in former Soviet Union countries have undergone substantial transformations since 1991, with mortgage lending emerging as a pivotal instrument driving housing demand and ownership. In Georgia, as in many other post-Soviet states, official data demonstrate a consistent rise in the number of individuals entering the mortgage market to purchase housing, particularly finished housing units. This trend underscores the necessity of understanding the socio-economic factors that influence mortgage uptake among urban residents, particularly in rapidly transforming transitional economies. This study investigates the determinants of mortgage loan acquisition for the purchase of finished housing, using primary survey data collected from a sample of 356 mortgage loan holders in Tbilisi, the capital and largest city of Georgia.

The empirical results indicate that individual income and employment status are the most significant predictors of a household’s decision to secure a mortgage. Higher income levels and stable, formal employment significantly increase the likelihood of mortgage loan approval and uptake. In contrast, demographic variables such as age, gender, and education level were found to have limited predictive power in the decision-making process. These findings highlight the critical role of economic security, labor market integration, and reliable income sources in shaping access to housing finance in transitional economies.

This study contributes to the existing literature in three main ways. First, it offers novel empirical insights into the socio-economic characteristics of mortgage borrowers in Georgia, addressing a substantial gap in the regional literature. Second, it provides a foundational assessment of the Georgian housing finance landscape, serving as a reference point for comparative studies in other former Soviet republics, including Armenia and Azerbaijan. Third, the study delivers practical implications for policymakers, financial institutions, and housing market stakeholders by offering data-driven evidence on the prerequisites for mortgage accessibility in post-socialist urban contexts. In doing so, it enhances the understanding of mortgage dynamics within the broader framework of economic transition, institutional development, and urban transformation.

IMPACTS OF INCOME SHOCKS AND SOCIAL PROTECTION ON RURAL HOUSEHOLDS’ FOOD INSECURITY EXPERIENCES DURING THE COVID-19 PANDEMIC IN CONFLICT-AFFECTED STATES IN NORTHERN NIGERIA

2025-09-05T12:53:59+00:00

Social protection is one of the major policy instruments for addressing households’ vulnerability to income shocks and poverty across the globe. In Nigeria, the COVID-19 pandemic presented a double tragedy to rural households in northern Nigeria due to their pre-pandemic exposure to several income shocks and conflicts. Therefore, this study analysed the impacts of income shocks and social protection on food insecurity experiences (FIE). The data were collected by the Food and Agriculture Organization (FAO) as Data in Emergency Monitoring (DIEM) from 4412 households in two Rounds in 2021 and 2022. The data were analysed by negative binomial regression and treatment effects with regression estimator. The results showed that majority of the respondents were permanent residents (94.88%), while the highest reported income shocks were high food price (34.00%), violence (23.07%), high fuel price (20.24%), and loss of employment (11.65%). Social assistances in the form of food and cash vouchers were received by 5.92% and 2.61%, respectively. At the mild level of food insecurity, 67.84% worried about food, 71.48% ate less healthy food, and 71.62% ate few food, while at chronic level, 23.13% went the whole day without food. The negative binomial regression showed that education levels, male headship, income, and permanent residence significantly reduced (p<0.05) the expected number of FIE. The average treatment effect (ATE) showed that loss of employment, other household shocks, high food prices, other economic shocks, animal diseases, violence and insecurity significantly increased (p<0.05) FIE, while pest outbreaks reduced it. Also, those who received food had significantly higher FIE (p<0.05). It was concluded that income shocks promoted FIE during the COVID-19 pandemic, while social assistances insignificantly addressed the problems. It was recommended that efforts to address food insecurity should be gender sensitive, address insecurity of human lives and properties, and promote education among rural households.

DIGITIZING UKRAINIAN REAL ESTATE: ECONOMIC POTENTIAL OF TOKENIZATION

2025-09-05T12:56:33+00:00

We examine how fractional ownership of real estate, facilitated by digital tokens, may broaden access to property investment in Ukraine and streamline financing for reconstruction. We evaluate international precedents where blockchain protocols divide large assets into smaller units, reducing traditional capital thresholds. This approach, we find, could spur broader participation and lessen financing bottlenecks in Ukraine’s property market. Our analysis highlights that digital tokens, when linked to real estate through special-purpose vehicles, can create a more fluid environment for buying and selling fractional shares, with the potential to enhance transparency and reduce administrative overhead.

We observe that the current legal framework in Ukraine recognizes real estate rights primarily through a centralized register, rendering blockchain-based tokens an unacknowledged form of evidence of a title. Nonetheless, we propose that innovative structures, including foreign-registered entities holding Ukrainian property, might resolve such complications. We argue that such tokenized offerings could meet post-war demand for real estate finance and contribute to broader economic rejuvenation.

We also evaluate various growth scenarios for Ukraine’s share of the European tokenized property market. Under a cautious trajectory, Ukraine might capture 2% of Europe’s projected tokenized real estate volume by 2034; under more optimistic conditions, this share could reach 5%. Our estimates suggest this translates to USD 168–420 million in market value, representing around 0.06–0.15% of Ukraine’s possible GDP in that timeframe. We identify fractional ownership as a key mechanism for lowering barriers, while the potential to trade tokens across global platforms could generate broader foreign investor interest.

We find that tokenized real estate, if governed by smart contracts, might lower transaction costs and facilitate automated compliance procedures. We further identify advantages related to faster price discovery, since daily digital trading can capture a wider spectrum of market signals. Despite these benefits, we note that high trading velocity poses a risk of volatility, which could deter conservative investors and undermine the longer-term goals of stable financing for redevelopment. Speculative pressures might also drive property values up too quickly, distorting local housing markets.

Finally, we conclude that successful adoption of tokenized real estate in Ukraine depends on regulations that clarify ownership rights, ensure investor safeguards, and resolve cross-border legal complexities. Through the alignment of legal and technical infrastructures, real estate tokenization may evolve into a viable funding channel, supporting both economic modernization and post-conflict recovery in Ukraine.

THEORETICAL PRINCIPLES FOR THE FORMATION OF SOCIAL COHESION IN COMMUNITIES

2025-09-05T12:58:59+00:00

The relevance of this study stems from the need to analyze the processes of social cohesion within territorial communities, which play a crucial role in ensuring the stable development of a state, particularly during geopolitical crises, economic transformations, and social changes. The interaction among citizens, the level of trust, and the effectiveness of public governance directly influence a community’s ability to function independently, address local challenges, and achieve social harmony. This article examines the key factors that shape social cohesion and the mechanisms that support it at various levels of governance.

The study identifies social capital, institutional support, and civic engagement as primary determinants of social cohesion in territorial communities. The stability of social ties within a community, along with their vertical and horizontal organization, plays a decisive role in the effective management of resources and the resolution of social challenges. The fundamental components of social cohesion include trust between citizens and local self-government bodies, shared values and identity, and participation in decision-making.

Institutional initiatives aimed at fostering active civic engagement and collective initiatives significantly influence the level of social cohesion. Social services and access to essential resources emerge as key factors in ensuring equal opportunities for all community members.

The findings suggest that social cohesion represents a dynamic process requiring continuous support from governmental authorities and active participation from citizens. Strengthening this process depends on the development of social ties, increasing trust between communities and governing bodies, and ensuring inclusivity and access to resources. Future research should explore mechanisms for reducing social barriers, fostering intergroup interactions, and promoting collective responsibility within communities.

MODERN METHODS OF CONDUCTING MARKETING RESEARCH

2025-09-05T13:01:26+00:00

The article examines modern methods of conducting marketing research, which play a crucial role in the process of making strategic and tactical business decisions. Given the development of digital technologies and changes in consumer behavior, traditional approaches to marketing research are being transformed, giving way to innovative methodologies based on big data analysis, artificial intelligence, social media, and neuromarketing.

The article provides a detailed examination of the main approaches to marketing research: the classical approach (systematic collection and analysis of information for decision-making), the analytical approach (a scientific method for forecasting market trends), the applied approach (a practical tool for business), the systemic approach (integration of research into the company's overall strategy), and the innovative-digital approach (utilization of modern technologies). The characteristics of each approach and their relevance in various business situations are described.

The key methods of conducting marketing research have been identified, including desk research (analysis of secondary data, statistical reports, and publications) and field research (surveys, observations, focus groups, and product testing). Special attention is given to innovative methods, which encompass the use of Big Data, A/B testing, user behavior analysis on the Internet, social media analytics, and the application of VR/AR technologies for modeling consumer behavior.

The main tasks addressed through marketing research have been examined, including market analysis, consumer studies, competitor research, evaluation of marketing effectiveness, forecasting and planning, and product or service assessment. It has been determined that the use of modern research methods enables the acquisition of more accurate and up-to-date information for making effective managerial decisions.

The marketing research process in the article is divided into several stages: problem identification and research objectives, plan development, hypothesis testing, data collection, data analysis, conclusion formulation, and recommendation development. An improved marketing research process is proposed, integrating both traditional and digital methods to enhance the effectiveness of marketing strategies and the accuracy of market trend forecasting.

The research findings confirm the importance of utilizing modern marketing methods to enhance company competitiveness, personalize marketing campaigns, improve consumer engagement, and forecast market changes. The adoption of innovative approaches facilitates faster business adaptation to a dynamic environment and more effective management of marketing processes.

SUSTAINABLE SUPPLY CHAIN MANAGEMENT IN THE ERA OF CLIMATE CHANGE: AN INTERDISCIPLINARY APPROACH

2025-09-05T13:04:30+00:00

The global supply chain landscape is experiencing transformative change due to the escalating impacts of climate change, which disrupt traditional models and pose risks to supply chain resilience. In response, Sustainable Supply Chain Management (SSCM) has emerged as a key strategy that integrates environmental, social, and economic considerations into supply chain practices. This paper explores the interdisciplinary convergence of environmental science and business logistics, highlighting how such integration can enhance supply chain adaptability and long-term sustainability. Using a comprehensive literature review, secondary data analysis, and relevant case studies, the study investigates the effects of climate disruptions on global supply chains and examines innovative SSCM practices such as green procurement, circular supply chains, and renewable energy integration. Findings demonstrate that companies adopting SSCM approaches especially those investing in clean technologies and collaborative environmental strategies are better equipped to mitigate risks and gain competitive advantages. Key case studies from firms like Unilever, IKEA, and Walmart underscore the practical benefits of sustainability-focused supply chains. Additionally, the role of digital transformation technologies such as blockchain, IoT, and predictive analytics is discussed as an enabler of traceability and transparency. This study concludes by providing actionable recommendations for both business practitioners and policymakers, while also identifying areas for future interdisciplinary research in SSCM, such as emerging technologies and regional adaptation strategies. The proposed framework emphasizes the need for systemic shifts in supply chain thinking to align with climate resilience and sustainability imperatives.

PROJECT MANAGEMENT AS A COMPONENT OF OPERATIONAL MANAGEMENT AND ENSURING A SUFFICIENT LEVEL OF FINANCIAL SECURITY OF THE ENTERPRISE

2025-09-05T13:06:30+00:00

The aim of the article is to study project management as an important tool of operational management in the context of improving the level of financial security of enterprise. The article substantiates that in today’s market, with the instability of the external environment and growing competition, the ability of an enterprise to ensure its financial security largely depends on the effectiveness of management decisions at the operational level, in particular, on the integration of project management methods into daily business activities. It is noted that project management acts not only as a technology for implementing innovations, but also as a tool for structuring processes, rational use of resources, reducing costs and adapting to changing environmental conditions. The study examines the key components of project management: planning, resource organisation, risk management, execution control, information support and analysis of results. Particular attention is paid to the impact of each of these components on ensuring the stability and security of the financial system of an enterprise. The article analyses domestic and international experience in implementing the project approach in the enterprise management system. It is substantiated that the formation of financial security is possible provided that continuous monitoring of financial indicators of projects, prompt response to risks and improvement of the internal control system are ensured. The authors also focus on the need to adapt modern project management methodologies to the conditions of digital transformation and high turbulence of the economic environment. A conceptual model for the implementation of project management in the operational management system is proposed, taking into account the criteria of financial security. The article formulates recommendations for Ukrainian enterprises to build an effective project management system that will help strengthen their financial stability and competitiveness.

FINANCIAL STRATEGIES AND INSTRUMENTS FOR STIMULATING ECONOMIC GROWTH AND RECOVERY IN THE POST-WAR RECONSTRUCTION CONTEXT: LESSONS FOR UKRAINE FROM INTERNATIONAL EXPERIENCE

2025-09-05T13:10:31+00:00

This article addresses the financial foundations necessary for stimulating economic growth and recovery in the aftermath of war. It has been determined that modern challenges associated with large-scale destruction, structural transformation, and global instability require a comprehensive approach to financial policymaking. By examining international case studies from Germany, the United Kingdom, Japan, and Bosnia and Herzegovina, the study identifies key financial instruments that facilitated post-conflict recovery: fiscal stimulus, tax incentives, targeted SME financing, infrastructure renewal, and strong regulatory institutions. Particular attention is devoted to the insurance sector, which is expected not only to recover operational capacity but to become a proactive agent in risk management and reconstruction finance. The research reveals that successful recovery efforts rely on a hybrid model that integrates fiscal policy, capital market tools, public guarantees, digital financial services, and external aid. For Ukraine, the article outlines a financial reform agenda that includes institutional modernization, tax policy adjustment, long-term investment frameworks, and the expansion of inclusive and transparent financial instruments. It concludes that a holistic and coordinated financial architecture ‒ linking the state, international partners, and private actors ‒ is essential not only to rebuild the economy but to position it for sustainable and inclusive growth. Financial resilience takes on heightened relevance under conditions of hybrid aggression and limited resource capacity. The proposed mechanisms account for the need for flexible risk response, increased trust in financial institutions, and overcoming regional imbalances. The article’s conclusions are based on an interdisciplinary approach that combines macroeconomic analysis, public policy practices, and international financial cooperation.

THE BANKING SECTOR’S PERFORMANCE IN CONDITIONS OF UNCERTAINTY

2025-09-05T13:12:32+00:00

The purpose of the article is to analyse the reaction of the Ukrainian banking sector to uncertainty. The study identifies global (crises, conflicts, technological changes, environmental challenges) and national (annexation, military aggression) events that affect the banking sector. The dual impact of uncertainty on its activities is substantiated. The relevance of the work for Ukraine, which is facing unprecedented challenges, underlines the urgent need for such an analysis.

The modern world is characterised by growing uncertainty, which has a significant impact on banks. The war in Ukraine has increased turbulence, creating new risks for liquidity, capitalisation and profitability. The article analyses the performance indicators of the banking sector of Ukraine for 2008-2025. The dynamics of lending activities, fundraising, efficiency and asset quality (profitability, share of non-performing loans) are considered. It is determined that uncertainty generates both threats (increased credit risks, market volatility, liquidity problems, cyber threats, capital outflows, panic of depositors) and opportunities (innovations, new products, non-traditional sources of income, more effective risk management, social responsibility, market consolidation).

The analysis showed that the most difficult period for banks was in 2014-2017, coinciding with military aggression and annexation. This period was characterised by a drop in lending, deteriorating financial performance (negative profitability) and an increase in the share of non-performing loans, which indicates that management was unprepared. However, in 2018-2024, the banking sector is showing a steady recovery despite the pandemic and full-scale war. There has been a steady increase in deposits, indicating growing confidence and an expanding resource base. Lending had a slight upward trajectory with a decrease in the years of significant events, while investments in securities show a steady upward trend. Return on assets and equity quickly recovered to positive levels. The share of non-performing loans, having reached its peak, has been steadily declining and improved as of the end of 2024, despite the war. This indicates that banks are working with non-performing assets and improving the quality of new loans. The ability of the banking system to adapt to shocks is crucial for maintaining economic stability. Positive indicators may be the result of effective risk management.

Further research will include building an economic-mathematical model to quantify the relationship between banking sector efficiency and uncertainty, which will allow for the analysis of dynamic processes and the development of more accurate forecasts.

SCIENTIFIC AND METHODOLOGICAL TOOLS FOR ASSESSING THE IMPACT OF FINANCIAL INNOVATIONS ON THE FINANCIAL MARKET

2025-09-05T13:17:32+00:00

Financial innovations are a key factor in the development of the modern financial market, enhancing its efficiency, liquidity, and resilience. At the same time, they may introduce new risks and challenges for regulators and market participants. Given the rapid growth of fintech, digitalization of the banking sector, the emergence of cryptocurrencies, smart contracts, and blockchain-based solutions, there is a pressing need to develop a modern methodological framework for analyzing such phenomena.

This article examines scientific and methodological tools for assessing the impact of financial innovations on the financial market. In particular, it analyzes conceptual approaches to defining financial innovations and their influence on the efficiency of the financial market's functioning.

The aim of the study is to justify scientific and methodological tools that enable a comprehensive assessment of the impact of financial innovations on the key parameters of the financial market, including its stability, liquidity, flexibility, transparency, and inclusiveness. The study’s results indicate that financial innovations have both positive and potentially risky effects on the market. On one hand, they contribute to increased access to financial resources, improved transaction efficiency, expanded product offerings, and the involvement of new participants. On the other hand, they may lead to increased financial instability, regulatory challenges, cybersecurity threats, and the emergence of new forms of information asymmetry.

An analytical model was developed to evaluate the impact of innovations, employing multifactor analysis and scenario planning to anticipate potential consequences of their implementation. Key indicators are identified that may serve as markers of the financial environment’s innovative transformation.

The practical significance of this research lies in the applicability of the proposed tools in strategic planning, regulatory policy development, evaluation of the investment attractiveness of new financial products, and risk management in a dynamically changing innovative environment.

ANOMALY IN THE SPHERE OF STATE FINANCIAL CONTROL

2025-09-05T13:19:35+00:00

The article attempts to deepen the knowledge of the control function of finance and the associated expansion of the understanding of the sphere of state financial control. Based on the statement that the implementation of the control function of finance, by creating conditions for preventing abuse of public financial resources, is obviously a process programmed to obtain a positive result, the study began with establishing the process of disclosing the control functionality of finance. Based on the visualization of which, evidentiary markers of the norm were constructed. The norm was defined as the development of the practice of state financial control as a derivative of the control function of finance. Due to this, it became possible to check the sphere of state financial control for compliance with the control function of finance. At all levels of practice: national, regional and supranational.

Compliance audit skills were chosen as a tool. That is, the product developed by it was used to check the sphere of control: ISSAI-400 and ISSAI-4000.

When encountering or relying on the sphere of state financial control in public life, one must be sure whether the varieties of existing practices in it are built according to the norm. In the absence of such confidence, it is advisable to additionally make sure where exactly the practice of control is created according to the norm and where not. Why does this concern us? Because the implementation of the control function of finance is a positive process, respectively, if it is not related to this function, then we do not know: a) positive or negative intentions/meaning underlying such a practice of state financial control; b) whose budgets become the subject of control; c) who is the beneficiary of the control results.

During the study, we found an anomaly in the sphere of state financial control. we observe. At the supranational level of practice, we encountered a control practice built without a control function of finance. That is, there is a control entity that is not directly related to the implementation of control actions with finances (excluding control over finances belonging to this entity), but which is directly related to the organization of control actions with finances - we are talking about INTOSAI. Establishing an anomaly in the field of control, regardless of achieving the goal, required continuing the study in order to obtain additional results. Such unexpected and anomalous findings in the practice of financial control posed new questions to the study, without answers to which the study would be incomplete, in particular: What does the fact of the existence of INTOSAI indicate to us?; What is the reason for the emergence of INTOSAI?; How did INTOSAI appear?; Is this situation still related to the control function of finances, and if so, whose finances?; Can INTOSAI be considered an element of the institutional infrastructure of public finances? Does INTOSAI have budgets in the subject of control? Positive or negative intentions/meaning underlie the purpose of the establishment of INTOSAI?.

During, additional research caused by the search for answers to questions related to the specified anomaly, allowed us to observe certain transformations of both INTOSAI, in particular, and the sphere of public financial control, in general, namely: - the institution, recognizing itself as an umbrella organization ("umbrella organization"), is transforming from a "forum for public audit" to a "bureaucracy"; - transformation of the concept of "transparency and accountability", according to INTOSAI-P20, into the concept of "controller by controller". And even more, the beneficiaries of the concept of "transparency and accountability", thanks to information technologies (AI, OSINT, etc.) can be other entities that do not belong to the sphere of public financial control and the public of a separate subject of international law. Almost anyone, for any purpose.

Concluding the abstract of the study, we note that the presented study indicates the possibility of a negative scenario in the further development of the sphere of state financial control.