SCHOOL OF BUSINESS,
TECNOLOGY AND EDUCATION
ILIA STATE UNIVERSITY

Business School, Business Administration, Associate Professor

Associate Professor





Giorgi Khishtovani is an Associate Professor and Head of Finance and Investments Department at the Business School of Ilia State University. Paralelly, Giorgi Khishtovani is a Research Director at PMC Research Center, independent think tank, founded in 2010, in Georgia and focused on economic development. Before joining Ilia State University Giorgi worked as the deputy dean of faculty of business administartion and economics at Tbilisi State University (2009-2011), in 2011-2014 he was as a research fellow at the University of Bremen, while in 2015-2016 he worked as the head of research at Institute of Development of Freedom of Information (IDFI) and in 2015-2017 he worked as the director of grants and programs at the National Science Foundation of Georgia (SRNSF) and as the Associate Professor at the Caucasus International University.

Giorgi studied economics and law in Bremen, Trier, Lüneburg and Tbilisi and holds a LL.M. degree from University of Trier (Germany), a Master of Science degree (MSc) in Economics and Social Sciences from the University of Trier (Germany) and a Bachelor degree in Business and Law from the Georgian Technical University. He holds a PhD degree in economics from the University of Bremen (Germany). His PhD thesis covered the topic of the transformation of governance structures in Georgia between 2003-2012.

Giorgi focuses his research on the global finance, political economy and governance, fiscal policy, human capital development and international trade. He has published numerous papers in academic journals. Giorgi has published a monography (“Transformation of Governance Structures in Georgia, 2003-2012”), where he based on Kornai´s approach designed a model of political economy in Goergia between 2003 and 2012. Giorgi has aslo contibuted to several book publications as an author of chapters. Giorgi is a co-author of the Handbook of Public Administration in Georgia, where he has contribued to the on Public Finances and Budget and Civil Service and a co-author to a book China’s Belt and Road Initiative: Potential Transformation of Central Asia and the South Caucasus with the chapter on “Belt and Road Initiative (BRI) in the South Caucasus Region”. Moreover, Giorgi is an author and co-author of various applied research papers, where he has conducted sectoral studies in the fields of finances (“Leveraging SME Finance through Value Chains in Georgia”, ADBI Working Paper), capital markets (“Capital Market Development in Georgia”, Economics and Business), insurance sector (“Predicted Financial Impact of the Health Care Reforms on Private Insurance Companies between 2006-2013 in Georgia”, Economics and Business), health care (“Analyzing Competitiveness of the Hospital Sector and its Value Chain in the City of Tbilisi”, Ilia State University), regional competitiveness (“Identification of functional regions and their competitive advantages in Kakheti, Georgia,”, Ilia State University), regional connectivity (“Connectivity, Trade and Financial Integration of the South Caucasus Via the Belt and Road Initiative (BRI)”, Caucasus Analytical Digest) and migration (“Labor Migration from Georgia and Sectoral Analysis of Private Employment Agencies in Georgia”, PMC Research Center).

Parallelly, Giorgi has an extensive experience as a consultant within the framework of various international projects conducted by the World Bank, the IFC, the European Commission, Swiss Agency for Development and Cooperation (SDC), UNDP, GIZ and Federal Foreign Office of Germany.

Scientific interests / research interests

Business valuation methods
Financial Development
Political economy of the post-socialist countries
Public Administration and Public Finances
Varieties of Capitalism,
Economic Development
Social Security Systems
Pension and healthcare reforms of the post-socialist countries

(2019) “Connectivity, Trade and Financial Integration of the South Caucasus Via the Belt and Road Initiative (BRI)”, In: Caucasus Analytical Digest No. 11 (October 2019), pp. 3-9 (together with Mariam Zabakhidze, Rezo Beradze and Irakli Gabriadze)

(2019) “Identification of functional regions and their competitive advantages in Kakheti, Georgia, Co-author (together with Maya Komakhidze, Sopo Basilidze, Samo Drobne, Miha Konjar, Nino Pataraia)

(2019) “China’s Belt and Road Initiative: Potential Transformation of Central Asia and the South Caucasus”, SAGE Publishing, Co-author (author of the chapter: “The Belt and Road Initiative in the South Caucasus” (together with Mariam Zabakhidze, Rezo Beradze and Irakli Gabriadze))

(2019) “Labor Migration from Georgia and Sectoral Analysis of Private Employment Agencies in Georgia”, Co-author (together with Maya Komakhidze and Ani Zurashvili)

(2019) “Leveraging Small and Medium-Sized Enterprise Finance Through Value Chains in Georgia”, ADBI Working Paper Series No. 968 (together with Mariam Saghareishvili and Sopo Basilidze), https://www.adb.org/sites/default/files/publication/508716/adbi-wp968.pdf

(2019) “The Belt and Road Initiative in Central Asia and the South Caucasus”, Conference Paper, Emerging Markets Forum 2019 Eurasia Meeting, Co-author (author of chapter: “The Belt and Road Initiative in the South Caucasus” (together with Mariam Zabakhidze, Rezo Beradze and Irakli Gabriadze))

(2019) „Sectoral Analysis of Regional Markets in Georgia by Using the Components of Smart Specialization”, Co-author (together with Sopo Basilidze and Giorgi Babunashvili)

(2018) “Analyzing Competitiveness of the Hospital Sector and its Value Chain in the City of Tbilisi – Using Smart Specializations Methodology Components” (together with Nino Pataraia, Sopo Lebanidze, Lasha Kavtaradze, Sopo Basilidze, Tatuli Dushuashvili)

(2018) “The Assessment of Competitiveness of Kutaisi and It’s Sorrounding Areas” (together with Collogues from Kutaisi University and Grigol Robakidze University)

(2014) Predicted Financial Impact of the Health Care Reforms on Private Insurance Companies between 2006-2013 in Georgia – The Case of “Aldagi-BCI”, in: Economics and Business (TSU), #2, pp. 115-138, March-April

(2013) The Tariffs Guidance of Multiplex Operator Access to Digital Terrestrial Broadcasting Network, Working Paper, IDFI

(2012) Corporate Political Responsibility (CPR) and its Impact on Firm’s Financial Performance -Case of Georgian Insurance Sector, in: Economics and Business (TSU), #5, Sep.-Oct. 2012, pp. 157-182 (together with Erekle Pirveli)(go to following Link for Working Paper in English: http://www.idfi.ge/?cat=researches&lang=en&topic=57&header=)

Capital Market Development in Georgia, in: Economics and Business (TSU), #6, Nov.-Dec. 2012, pp. 79-91(go to following Link for Working Paper in English: http://www.idfi.ge/?cat=researches&lang=en&topic=58&header=)

 

Current Courses

Course Catalog

Current Courses

Foundations of Business (Bachelor)

Basics of Financial Management (Bachelor)

Fundamentals of Financial Management (Master)

Regulatory Impact Assessment (Master)

Course Catalog

Foundations of Business (Bachelor)

Basics of Financial Management (Bachelor)

Introduction to Financial Accounting (Bachelor)

Fundamentals of Financial Management (Master)

Advanced Finance (Master)

Firm Valuation (Master)

Regulatory Impact Assessment (Master)

Economics of Education (Master)

Securities and International Financial Markets (Master)

Financial Analysis (Master)