Retroeconomics – Moving from Dying to Brisk Economy

Journal of Reviews on Global Economics, 2017, 6, 455-462

Posted: 11 Sep 2017

See all articles by Vladimer Papava

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Date Written: August 31, 2017

Abstract

The paper offers a new concept of the technological backwardness in many, mostly in poor countries – the retroeconomics. Such countries are getting to into the trap of technological dependency on the economically developed countries. The main threat of the preservation of the retroeconomy – its zombification is discussed as a main barrier for technological updating of economy, and in general as an obstacle for Schumpeterian creative destruction. Much importance is given to the key principle of bankruptcy procedures against zombified retro-firms. The bankruptcy legislation should ensure the timely liquidation of non-viable firms.

Keywords: Necroeconomy, Zombie-economy, Retroeconomy, Technological Backwardness, Bankruptcy

JEL Classification: G33, L26, O38

Suggested Citation

Papava, Vladimer, Retroeconomics – Moving from Dying to Brisk Economy (August 31, 2017). Journal of Reviews on Global Economics, 2017, 6, 455-462 . Available at SSRN: https://ssrn.com/abstract=3033609

Vladimer Papava (Contact Author)

Ivane Javakhishvili Tbilisi State University ( email )

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