ინფლაციის თარგეთირება და მასთან დაკავშირებული ფინანსური საფრთხეები: საქართველოს გამოწვევები
DOI:
https://doi.org/10.52340/21.03.2025ანოტაცია
ნაშრომში გამოკვლეულია ინფლაციის თარგეთირების მექანიზმი, რის საფუძველზეც ნაჩვენებია მისი ძლიერი და სუსტი მხარეები. ძლიერ მხარეს მიეკუთვნება ის, რომ ცენტრალურ ბანკებს გააჩნიათ ერთობლივი მოთხოვნის ზრდით გამოწვეული ინფლაციის დარეგულირების ქმედითი ინსტრუმენტები. იგივე ინსტრუმენტები გამოიყენება დანახარჯების ზრდით გამოწვეული ინფლაციის დარეგულირებისათვის, რაც, საბოლოო ჯამში, უარყოფითად აისახება ეკონომიკური ზრდის შესაძლებლობებზე. იმპორტდამოკიდებულ ქვეყნებში, ხდება როგორც ინფლაციის იმპორტი, ისე ეროვნული ვალუტის გაუფასურების გზით იმპორტის გაძვირება. სწორედ ესაა ინფლაციის თარგეთირების სუსტი მხარე იმპორტდამოკიდებული ქვეყნებისთვის და, მათ შორის, საქართველოსთვისაც. ინფლაციის თარგეთირებასთან დაკავშირებული უმთავრესი ფინანსური საფრთხე უშუალოდაა მის ამ სუსტ მხარესთან დაკავშირებული. კვლევის შედეგად შემოთავაზებულია გამოყენებულ იქნეს ინფლაციის კომპლექსური თარგეთირების მექანიზმი, როცა მიზნობრივ მაჩვენებლებად განისაზღვრება არა მარტო ინფლაციის, არამედ იმპორტირებული საქონლით გამოწვეული ინფლაციის, ანუ იმფლაციის მაჩვენებელი.
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