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The Essentials of Georgia's Economic Transformation

Author

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  • Iashvili Tsotne

    (PhD candidate in economics at Ivane Javakhishvili Tbilisi State University (Department of Macroeconomics). Researcher at University of Wrocław)

Abstract

The aim of this article is to examine Georgia's economic transformation and try to answer the question: Why Georgia is not able to have a stable and high economic growth? In this article, it will be an attempt to answer this question by taking into account the weak private sector in Georgia, as one of the main burdens of economic growth. The article attempts to analyse the economic transformation in Georgia. The reasons for its failure and consequences, also to estimate its possible impact on the nowadays economic situation in Georgia. The latter will be examined from the perspective of Institutional Theory. The article will try to answer the above-mentioned question and problems, taking into account the institutional changes in Georgia. The article explains the unsuccessful path of transformation and tries to connect its results to the current economic situation in Georgia.

Suggested Citation

  • Iashvili Tsotne, 2019. "The Essentials of Georgia's Economic Transformation," Wroclaw Review of Law, Administration & Economics, Sciendo, vol. 9(1), pages 46-57, December.
    • Handle: RePEc:vrs:wrolae:v:9:y:2019:i:1:p:46-57:n:3
    DOI: 10.2478/wrlae-2019-0003
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    References listed on IDEAS

    as
    1. Peter M. Lichtenstein, 1996. "A New-Institutionalist Story about the Transformation of Former Socialist Economies: A Recounting and an Assessment," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(1), pages 243-265, March.
    2. Stanislaw Wellisz, 1996. "Georgia. A Brief Survey of Macroeconomic Problems and Policies," CASE Network Studies and Analyses 0087, CASE-Center for Social and Economic Research.
    Full references (including those not matched with items on IDEAS)

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