Social risk management and financial-statistical analysis of costs
Authors
Asie Tsintsadze, Vladimer Glonti, Oniani Lela, Tamar Ghoghoberidze, Salome Qoqoladze
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Annotation
Evidence from industrialised nations indicates that governmental investments in social risk management substantially influence residents' quality of life. This study examines the segment of state spending allocated for social risk management. Social dangers emerge from the influence on metrics that define the level of living. To attain a favourable outcome in risk management, it is essential to identify risks, ascertain which indicators were not met, analyse the causes that triggered risk-generating factors, evaluate the degree of risk, and identify potential minimisation tools and management entities: the state or individuals. The objective of the study is to elucidate the relationship between the state's social policy expenditures and the quality of life of its residents through financial and statistical analysis. Data from the state budget regarding resources designated for social program financing, along with essential indices of living standards, like average wages, employment rates, and access to social services, are utilised.
The findings indicate that significant government expenditure on social risk management is directly correlated with enhancements in quality of life.
Augmented expenditure, particularly in social assistance, healthcare, and education, is favourably correlated with socio-economic variables, resulting in heightened income levels, job creation, and enhanced health quality.
Keywords
Authors
Asie Tsintsadze, Vladimer Glonti, Oniani Lela, Tamar Ghoghoberidze, Salome Qoqoladze
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