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Economic Expectations of the Belt and Road Initiative for the South Caucasus, with Emphasis on Georgia

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  • Iza Gigauri
  • Nino Damenia

Abstract

Georgia, a post-soviet country, located in the South Caucasus at a crossroads of Europe and Asia, presents Europe¡¯s natural gateway towards Asia. The Belt and Road Initiative, also known as the One Belt One Road, is 21st century Silk Road encompassing transportation and communication systems connecting China to Europe. Since the Initiative is at its beginning stage, it is essential to study its economic influence on the South Caucasus region it traverses, and particularly, upon Georgia. In this respect, to facilitate sustainable growth in the region, advanced technology, industrial and infrastructural modernization is crucial. Under the Initiative, Baku-Tbilisi-Kars railway is completed, which can significantly shorten the time of shipment from China to Europe, and Georgia's Anaklia Deep Sea Port on the Black Sea with a huge capacity of cargo transportation is under construction. The infrastructure investments under the Initiative can encourage economic development and hence, reduce poverty.

Suggested Citation

  • Iza Gigauri & Nino Damenia, 2019. "Economic Expectations of the Belt and Road Initiative for the South Caucasus, with Emphasis on Georgia," Business and Economic Research, Macrothink Institute, vol. 9(1), pages 173-199, March.
    • Handle: RePEc:mth:ber888:v:9:y:2019:i:1:p:173-199
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    References listed on IDEAS

    as
    1. Yuan Li & Hans-Jörg Schmerer, 2017. "Trade and the New Silk Road: opportunities, challenges, and solutions," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 15(3), pages 205-213, July.
    2. Souleymane Coulibaly & Uwe Deichmann & William R. Dillinger & Marcel Ionescu Heroiu & Ioannis N. Kessides & Charles Kunaka & Daniel Saslavsky, 2012. "Eurasian Cities : New Realities along the Silk Road," World Bank Publications - Books, The World Bank Group, number 11877.
    3. Fei Xu, 2018. "The Belt and Road," Springer Books, Springer, number 978-981-13-1105-5, October.
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    Cited by:

    1. Azhgaliyeva, Dina & Kalyuzhnova, Yelena (ed.), 2021. "Unlocking Transport Connectivity in the Trans-Caspian Corridor," ADBI Books, Asian Development Bank Institute, number 22, Décembre.
    2. Li, Xinmeng & Wang, Kailai & Chen, Zhenhua, 2021. "Regional Economic Impacts of Trans-Caspian Infrastructure Improvement: Implications for the Post-COVID-19 Era," ADBI Working Papers 1274, Asian Development Bank Institute.

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    More about this item

    Keywords

    Silk Road; One Belt One Road; Economic corridors; China; Economic development; Trade;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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