gasasvleli hqondeT. aqedan gamomdinare, naklebad savaraudoa, rom am qveynebisxelisuflebam ucxouri kapitali, gansakuTrebiT ki amerikuli kapitali, Seaviwroon.anu, am ideis avtorTa azriT, ucxouri kapitalis momZlavrebis erT-erTiganmsazRvreli faqtori aris is garemoeba, rom arsebuli saerTaSoriso ekonomikuriwyoba asocirdeba amerikis TaosnobiT Seqmnil aliansTan, gansakuTrebiT nato-sTan.mimReb qveyanaze ucxouri kapitalisa da transnacionaluri kompaniis, rogorcucxouri kapitalis, politikur, ekonomikur da kulturul gavlenaze saubrisasikveTeba ori ZiriTadi pozicia: pirvelis Tanaxmad, transnacionaluri firmebiszegavlena zogadad dadebiTia. meore poziciis mixedviT, ki isini zRudaven qveynisavtonomias, aferxeben mis damoukidebel ganviTarebas, zrdian ekonomikuruTanasworobas maspinZel qveyanaSi da xSirad, arTmeven ekonomikur suverenitetsac kipirveli poziciis gamziareblebi miiCneven, rom ucxouri investiciebi mimRebiqveynis ekonomikuri ganviTarebis daCqarebis seriozuli faqtoria. magaliTad moyavTdasavleT evropis saxelmwifoebi meore msoflio omis Semdeg da maT swrafganviTarebas nawilobriv xsnian soliduri amerikuli kapitaldabandebebiT. igivelogikiT, mesame samyaros qveynebis ekonomikuri warmateba miewereba ucxourinvesticiebsa da im politikas, romelmac investiciebi miizida. Tumca, bevri ariziarebs am mosazrebas da miaCniaT, rom pirdapir investiciebsa da ekonomikurganviTarebas Soris Tanafardoba ar iZleva imis safuZvels, rom mas mizez-SedegobrivikavSiri davarqvaT. pirdapiri investiciebi, rogorc wesi, xorcieldeba im qveynebSi,sadac sabazro ekonomikis ganviTarebisTvis kargi pirobebia Seqmili, roca qveyanaSiSesaferisi politikuri situacia, stabiluroba da usafrTxo garemoa.saxelmwifo kapitalis eqsportimsoflioSi saxelmwifo kapitalis eqsportis moculoba naklebia, vidre kerZokapitalisa, da amas logikuri axsnac aqvs. saxelmwifo kapitalis mizani ar aris swrafida moklevadiani mogeba. misi ZiriTadi amocanaa ekonomikuri da politikuri gavlenisgavrceleba investirebad qveyanaSi da iq sasurveli pirobebis Seqmna kerZo kapitalisinvestirebisaTvis. saxelmwifo kapitalis eqsportireba umetesad xdeba qveynisinfrastruqturaSi, satransporto dargebSi, sakredito-safinanso sistemaSi da sxv.,anu iseT sferoebSi, romelTa ganviTarebis gareSec SeuZlebeli iqneba kerZokapitalis efeqturi da usafrTxo eqsportireba.saxelmwifo kapitalis <strong>for</strong>mebia: grZelvadiani sesxebi da kreditebi, usasyidlodaxmareba. saxelmwifo kapitali mimarTulia susti, ganviTarebadi saxelmwifoebisaken.amiT xdeba maTze gavlenis moxdena da garkveuli kontrolis damyareba. saxelmwifokapitalis eqsporti xorcieldeba saxelmwifo biujetis xarjze. miuxedavadimisa, rom, erTi mxriv, saxelmwifo kapitalis eqsports altruizmis niSnebi axasiaTebs,mas seriozuli pragmatuli gaTvlebic aqvs — saxelmwifo kapitalis eqsportis SedegadmimRebi qveynebi investori qveynisgan yiduloben maT uaxles teqnologiebs, saqonels,momsaxurebas da sxv.kerZo kapitalis eqsportikerZo kapitalis eqsporti ufro farTomasStabiania da igi ufro didi movlenaa,vidre saxelmwifo kapitalis eqsporti. igi xorcieldeba an pirdapiri investiciisgziT (iseTi investicia, rodesac investori iRebs (Seisyidis) kontrols im firmaze,romelSic is axdens investirebas), an saportfelo investiciis gziT (ucxouri firmisaqciebis Sesyidva firmaze yovelnairi kontrolis an menejmentSi monawileobisgareSe). kerZo kapitalis umTavresi mizania swrafi da didi mogeba.investiciebis xasiaTisa da sakuTari kapitalis <strong>for</strong>mis mixedviT asxvavebenindividualur (fizikuri pirebis), korporaciul (sawarmoebi da organizaciebi) dainstitucionalur (koleqtiur) investorebs.individualuri investorebi ar aerTianeben TavianT kapitals, investirebas axorcielebenTavianTi saxeliT da sakuTari saxsrebiT erTmaneTisagan damoukideblad.46
korporaciuli investorebi moqmedeben Sesabamisi sawarmos, saaqcio sazogadoebisfirmis saxeliT, misi kuTvnili kapitalisa da sasesxo saSualebaTa mixedviT.korporaciul investorTa mniSvnelovani nawili ZiriTadad awarmoebs materialurinvestirebas, xolo fasian qaRaldebSi saxsrebis dabandeba maTTvis investirebisdamatebiTi saSualebaa.institucionaluri investorebi TavianT kapitals ayalibeben klientebisa dameanabreebis saxsrebiT da mas abandeben ZiriTadad fasian qaRaldebSi. zogierTimaTganisTvis damatebiTi aris materialuri investireba.sainvesticio gadawyvetilebaTa Sefasebisas investiciebSi igulisxmeba investorismoRvaweoba, mimarTuli misi, rogorc wesi, grZelvadiani miznebis misaRwevad,romlebic ar arian dakavSirebuli mimdinare moxmarebasTan. es moRvaweoba emyarebasakuTari da sasesxo kapitalis dabandebas.investorad, romelic moqmedebs Tavisi miznebis Sesabamisad da piradad agebspasuxs maT miRwevaze, gamodian an kapitalis mflobelebi, an is pirebi, romlebicuflebamosilni arian iuridiuli piris saxeliT miiRon sainvesticio da safinansogadawyvetilebebi. ukanasknel SemTxvevaSi, investireba xdeba sakuTari an saTanadofirmisa da saaqcio sazogadoebis sasesxo kapitalis meSveobiT. investiciebismakroekonomikuri Taviseburebebis gaanalizebisas metad mniSvnelovania mewarmeTasainvesticio moTxovnilebaTa gamokvleva. aseTi moTxovnilebis faqtorebisSesabamisad investiciebi iyofa inducirebul da avtonomiur investiciebad. qedan,pirvels warmoSobs sxvadasxva materialur faseulobebze moTxovnilebis myari zrda,xolo meores — maTze mudmivi an fiqsirebuli moTxovnileba.investoris grZelvadiani miznebis misaRwevad sakuTari an sasesxo kapitalisyvelaze xelsayrelad gamoyenebis dasabuTebuli ZiriTadi principebi da meTodebiSeadgens investirebis Teoriis Sinaarss. optimalur investicias warmoadgens is,romelic yvelaze metad Seesabameba dasaxul miznebs.msoflio praqtikaSi gamoyofen investirebis sam ZiriTad <strong>for</strong>mas:1. pirdapiri, anu realuri investiciebi (kapitalis dabandeba mrewvelobaSi,vaWrobaSi, momsaxurebis sferoSi — uSualod sawarmoebSi);2. saportfelo, anu finansuri investiciebi (investiciebi ucxour aqciebSi,obligaciebsa da sxva fasian qaRaldebSi);3. sasesxo kapitalis saSualovadiani da grZelvadiani saerTaSoriso kreditebida sesxebi samrewvelo da savaWro korporaciebs, bankebsa da sxva finansurdawesebulebebs.pirdapir investiciebs SeuZlia uzrunvelyos investirebuli kompaniis investorikorporaciebis srul mflobelobaSi gadayvana an saSualeba miscen maT daaweson maszefaqtobrivi kontroli. zogjer amisaTvis saWiroa flobde saaqcio kapitalis araumetes 10%.wamyvani investorebi arian ekonomikurad ganviTarebuli qveynebi, pirvel rigSi —aSS. magram am bolo wlebSi, ukanaskneli oci wlis manZilze, SeerTebuli Statebis wiliucxoeTis pirdapiri investiciebis saerTo jamSi Semcirda 55 procentidan 44procentamde, xolo dasavleT evropis qveynebisa da iaponiis wili gaizarda —Sesabamisad 37 procentidan 44 procentamde da 1 procentidan 10 procentamde.mniSvnelovani cvlilebebia, agreTve, pirdapiri investiciebis mimarTulebebSic:meore mosflio omamde kapitaldabandebaTa ZiriTadi nawili modioda CamorCenilqveynebze, maSin rodesac ukanasknel xanebSi investorTa mozidvas cdiloben ganvi-Tarebuli ekonomikuri sistemis mqone qveynebi. es aixsneba cvlilebebiT investirebisdargobriv struqturaSi. investireba axla ukve Tavs iyris gadamamuSavebelmrewvelobaSi, xolo mis SigniT — mecnierebatevad da maRalteqnologiur dargebSi.kapitalis importiori xdebian igive amerikis SeerTebuli Statebi, Tanac ukanasknelwlebSi aq pirdapiri investiciebis modena sWarbobs kidec maT ukudenas.saportfelo investiciebi aris im aqciebis dafinansebis ZiriTadi wyaro,romlebsac uSvebs sawarmoebi, msxvili korporaciebi da kerZo bankebi. omisSemdgomperiodSi amgvari investiciebis moculoba izrdeba, rac metyvelebs kerZo investorTa47
- Page 1: socialur mecnierebaTa seriasaerTaSo
- Page 4 and 5: SesavalisaerTaSoriso urTierTobebis
- Page 6 and 7: saerTaSoriso politikuri ekonomiissa
- Page 8 and 9: nawili Tvlis, rom saerTaSoriso ekon
- Page 10 and 11: nawilia, romlis dominanturi wevrebi
- Page 12 and 13: aul prebiSiraul prebiSi daibada arg
- Page 14 and 15: saxelmwifos dasustebisa da axali he
- Page 16 and 17: marSalis gegmamarSalis gegma oficia
- Page 18 and 19: safinanso-savaluto urTierTobebimeor
- Page 20 and 21: marSalis gegma, romlis farglebSic T
- Page 22 and 23: 2004 wels msoflio bankma gasca 20,1
- Page 24 and 25: vaWroba mxolod ganviTarebuli da Zli
- Page 26 and 27: • upirobo TanamSromloba yvela wev
- Page 28 and 29: saxedidan, ekonomistebi ukve amtkic
- Page 30 and 31: mesame samyaros gaCena daekonomikur
- Page 32 and 33: moaxerxa aseTi swrafi tempebiT ganv
- Page 34 and 35: susti qveynis finansuri daqvemdebar
- Page 36 and 37: 1970 wlebSi dasavleTma da iaponiam
- Page 38 and 39: aSS-Si energokrizisis daZlevis mizn
- Page 40 and 41: ver iqneboda) ar Camouvardeboda da,
- Page 42 and 43: warmoSobs, rogoricaa, magaliTad, ga
- Page 44 and 45: sxvadasxva kuTxeSi radikalurad gans
- Page 48 and 49: icxvis zrdaze. xolo Suamavlebad ucx
- Page 50 and 51: praqtikulad im qveynebs ekuTvnian,
- Page 52 and 53: kalurad integrirebuli transnacional
- Page 54 and 55: wlebSi iseTma prokapitalisturma qve
- Page 56 and 57: 1946 wels didi britaneTis yofili pr
- Page 58 and 59: mniSvnelovnad gansxvavdeba erTmaneT
- Page 60 and 61: saWiro. magram vinaidan es ase ar a
- Page 62 and 63: wlamde aSS-ma 9,6 trilioni dolari d
- Page 64 and 65: samsaxurebis SeTavazebas. saerTaSor
- Page 66 and 67: internet resursebi:www.mitpress.mit
- Page 68 and 69: Dependency theory developed in the
- Page 70 and 71: currency.Further, the course descri
- Page 72 and 73: analyses give an understanding of d
- Page 74: securities at most. Therefore, each