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You say you want a (Rose) Revolution? The effects of Georgia's 2004 market reforms

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  • Robert Lawson
  • Kevin Grier
  • Samuel Absher

Abstract

After Georgia declared its independence from the Soviet Union, it experienced civil war and strife for more than a decade. In late 2003, the peaceful Rose Revolution installed a new government that began a series of radical market‐liberal reforms. However, the effectiveness of these reforms was controversial. We offer a rigorous evaluation of these reforms via the synthetic control method which creates a credible counterfactual. Compared to the synthetic controls, we find that the reforms enacted after the Rose Revolution led to significant improvements in Georgia's social and economic development, albeit with temporary side effects and argue that this case provides some support for the effectiveness of rapid, multidimensional reform.

Suggested Citation

  • Robert Lawson & Kevin Grier & Samuel Absher, 2019. "You say you want a (Rose) Revolution? The effects of Georgia's 2004 market reforms," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 27(1), pages 301-323, January.
    • Handle: RePEc:bla:etrans:v:27:y:2019:i:1:p:301-323
    DOI: 10.1111/ecot.12205
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    References listed on IDEAS

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    1. Deirdre N. McCloskey & Stephen T. Ziliak, 1996. "The Standard Error of Regressions," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 97-114, March.
    2. Fowler, Anthony, 2013. "Electoral and Policy Consequences of Voter Turnout: Evidence from Compulsory Voting in Australia," Quarterly Journal of Political Science, now publishers, vol. 8(2), pages 159-182, February.
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    Cited by:

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    2. Abidemi Adisa & Michael Farmer & Jamie Bologna Pavlik, 2023. "The effect of the Mahathir regime on the Malaysian economy," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(1), pages 97-114, January.
    3. Colin O'Reilly, 2021. "Violent conflict and institutional change," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 29(2), pages 257-317, April.
    4. Kerianne Lawson, 2021. "The Lasting Impact of NCAA Sanctions: SMU and the Death Penalty," Journal of Sports Economics, , vol. 22(8), pages 946-981, December.
    5. Callais, Justin & Harris, Colin & Borchard, Ben, 2022. "The moral costs of markets: Testing the deterioration hypothesis," Journal of Economic Behavior & Organization, Elsevier, vol. 204(C), pages 200-220.
    6. Linan Peng & Justin T. Callais, 2023. "The authoritarian trade‐off: A synthetic control analysis of development and social coercion in the Xinjiang Uyghur Autonomous Region," Contemporary Economic Policy, Western Economic Association International, vol. 41(2), pages 370-387, April.
    7. Geloso, Vincent J. & Grier, Kevin B., 2022. "Love on the rocks: The causal effects of separatist governments in Quebec," European Journal of Political Economy, Elsevier, vol. 71(C).
    8. Kerianne Lawson, 2023. "Using property rights to fight crime: the Khaya Lam project," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(2), pages 269-302, June.
    9. Daniel D. Bonneau & Joshua C. Hall & Yang Zhou, 2022. "Institutional implant and economic stagnation: a counterfactual study of Somalia," Public Choice, Springer, vol. 190(3), pages 483-503, March.
    10. Ivanov, Denis, 2023. "Institutional reforms and social trust: Quasi-experimental evidence from the Caucasian states," Journal of Economic Behavior & Organization, Elsevier, vol. 214(C), pages 829-859.

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