Development of Railway Silk Road as a Platform for Promoting Georgia’s Economic Growth | Gondauri | International Journal of Business and Management | CCSE

The given paper emphasizes on the importance of the Railway Silk Road for promoting the Georgia's economic growth and development. The article notes that the process of economic integration of the region allows the increase of cargo turnover volume in Central Asia and the Caucasus countries, thus increasing the transport of goods through Georgia, - contributing to the sustainability of Georgia's macroeconomic and economic growth. The aim of financially economical models, we have identified the causal links between the sensitivity of railway cargo and the economic growth of the country. The main task of the research was to use the Railway EVA and the Georgian economy, create a cargo sensitivity relationship between CAGR models. The paper presents the analyses of the scientific research problems regarding the Railway freight transportation studies. Calculations are provided regarding the share of the Railway System in the country's GDP in period of 2006-2017 year and the average annual geometric (CAGR) growth pf cargo volumes in 16 years’ cycle allowing the ？Georgian Railway“JSC to create the additional value in the country's overall GDP. The research indicate that the additional value to GDP is the direct and indirect form of development and growth of various sectors of the economy of Georgia, as some part of the cargo shipped in the railway remains in Georgia and is used in the process of production, which in itself adds value added to the economic growth of the country. Also, the use of this model by scientific research in foreign research centers provides better opportunities for additional growth of their economies