On the First-Generation Post-Communist Reforms of Georgia's Economy: A Retrospective Analysis

The Caucasus & Globalization, Vol. 5, No. 3-4, 2011

11 Pages Posted: 30 Nov 2012

See all articles by Vladimer Papava

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Date Written: November 29, 2012

Abstract

This article reviews the first-generation post-Communist reforms of Georgia’s economy. It points out the mistakes made during the reform of post-Communist Georgia’s economy and identifies the reasons for the failure of Shock Therapy in post-Communist Georgia based on an analysis of the successful economic reforms carried out in Poland. It focuses special attention on how the mistakes were corrected, thus leading to the Minimum Shock with Maximum Therapy program that proved favorable for Georgia’s economy.

Keywords: post-Communist reforms, Georgia's economy, minimum shock with maximum therapy program

JEL Classification: P21, P24, P26, P26, P26

Suggested Citation

Papava, Vladimer, On the First-Generation Post-Communist Reforms of Georgia's Economy: A Retrospective Analysis (November 29, 2012). The Caucasus & Globalization, Vol. 5, No. 3-4, 2011. Available at SSRN: https://ssrn.com/abstract=2182412 or http://dx.doi.org/10.2139/ssrn.2182412

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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