Skilled Labor Force as a Cornerstone of Entrepreneurial Economic Development - International Experience for Georgia

Davit Shatakishvili ()

Journal of World Economy: Transformations & Transitions, 2021, vol. 1, issue 2

Abstract: Labor force is utterly significant factor through which a product or service is created in any country. Consequently, the quality of the labor force is directly proportional to the entrepreneurial economic development, service standards and steady, dynamic growth as a whole. Proficient workforce has an ability to solve problems and efficiently adapt to changes in an ever-evolving world. It contributes to the development of the country's domestic production, as well as plays an important role in attracting foreign direct investments. The following paper outlines the importance of a qualified and skilled labor force for entrepreneurial economic progress and analyzes its various aspects. Additionally, in this regard, the study delineates current challenges in Georgia and examines the best examples of international practice. Finally, based on multifactorial analysis, the paper presents solutions and recommendations to solve existing problems, for long-term stable economic betterment. Cite this paper: Shatakishvili, Davit (2021). "Skilled Labor Force as a Cornerstone of Entrepreneurial Economic Development - International Experience for Georgia" Journal of World Economy: Transformations & Transitions (JOWETT) 1(02):05. DOI: https://doi.org/10.52459/jowett1251021

Keywords: Labor Force; Capacity Development; Economic Growth; Entrepreneurship; Unemployment (search for similar items in EconPapers)
Date: 2021
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