The Georgian Economy: From 'Shock Therapy' to 'Social Promotion' (Georgia and 'Laffer-Keynesian Synthesis')

Communist Economies & Economic Transformation, Vol. 8, No. 2, 1996

17 Pages Posted: 30 Nov 2012

See all articles by Vladimer Papava

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Date Written: November 29, 2012

Abstract

The article provides an evaluation of the early years of reform measured against a ‘standard” model of economic reform, an account of recent developments under a resumed and more purposeful programme of reform, and proposals for future action to invigorate the Georgian economy. The method of ‘Social Promotion” of economic reform is developed. The combining of the Laffer Curve approach with the Keynesian approach cutting of taxes, leads to a form of Laffer-Keynesian synthesis.

Keywords: Post-Communist reforma, shock therapy, social promotion, Laffer-Keynesian synthesis

JEL Classification: P21, P26, P31, P35, H21

Suggested Citation

Papava, Vladimer, The Georgian Economy: From 'Shock Therapy' to 'Social Promotion' (Georgia and 'Laffer-Keynesian Synthesis') (November 29, 2012). Communist Economies & Economic Transformation, Vol. 8, No. 2, 1996. Available at SSRN: https://ssrn.com/abstract=2182406 or http://dx.doi.org/10.2139/ssrn.2182406

Vladimer Papava (Contact Author)

Ivane Javakhishvili Tbilisi State University ( email )

1, Ilia Tchavtchavadze avenue
Tbilisi, Tbilisi 0179
Georgia
+995 32 222-0241 (Phone)
+995 32 222-5107 (Fax)

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