Post-Communist Capitalism and the Modern World of Dead Economy

Bulletin of the Georgian National Academy of Sciences, Vol. 3, No. 2, 2009

6 Pages Posted: 2 Dec 2012

See all articles by Vladimer Papava

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Date Written: November 29, 2012

Abstract

After the collapse of the Communist regimes and their command economies, the countries of the former Soviet Union found themselves with only a very small amount of goods to supply to the global market. There was no way that they could have existed in an economy of this type that is nothing more than a corpse or a so-called “necroeconomy.” As international experience shows, dead firms do exist and “successfully” function in the most developed of economies as well. These insolvent and, in fact, bankrupt firms which continue to operate despite their “mortality” are commonly referred to as “zombie-firms.”

Keywords: Post-Communist Capitalism, necroeconomy, zombie-economy, financial crisis

JEL Classification: P12, P16, P23, P26

Suggested Citation

Papava, Vladimer, Post-Communist Capitalism and the Modern World of Dead Economy (November 29, 2012). Bulletin of the Georgian National Academy of Sciences, Vol. 3, No. 2, 2009 . Available at SSRN: https://ssrn.com/abstract=2182629 or http://dx.doi.org/10.2139/ssrn.2182629

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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