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
Date Written: November 29, 2012
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: Suggested Citation