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
Date Written: November 29, 2012
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: Suggested Citation