You Say You Want a (Rose) Revolution? The Effects of Georgia's 2004 Market Reforms

23 Pages Posted: 24 Jan 2019

See all articles by Robert Lawson

Robert Lawson

Southern Methodist University (SMU) - Edwin L. Cox School of Business

kevin grier

Texas Tech University

Samuel Absher

Texas Tech University

Date Written: January 2019

Abstract

After Georgia declared its independence from the Soviet Union, it experienced civil war and strife for more than a decade. In late 2003, the peaceful Rose Revolution installed a new government that began a series of radical market‐liberal reforms. However, the effectiveness of these reforms was controversial. We offer a rigorous evaluation of these reforms via the synthetic control method which creates a credible counterfactual. Compared to the synthetic controls, we find that the reforms enacted after the Rose Revolution led to significant improvements in Georgia's social and economic development, albeit with temporary side effects and argue that this case provides some support for the effectiveness of rapid, multidimensional reform.

Keywords: Georgia, synthetic control, liberalization, Rose Revolution, reform

Suggested Citation

Lawson, Robert and grier, kevin and Absher, Samuel, You Say You Want a (Rose) Revolution? The Effects of Georgia's 2004 Market Reforms (January 2019). Economics of Transition and Institutional Change, Vol. 27, Issue 1, pp. 301-323, 2019. Available at SSRN: https://ssrn.com/abstract=3319964 or http://dx.doi.org/10.1111/ecot.12205

Robert Lawson (Contact Author)

Southern Methodist University (SMU) - Edwin L. Cox School of Business ( email )

P.O. Box 750333
Dallas, TX 75275-0333
United States

Kevin Grier

Texas Tech University ( email )

2500 Broadway
Lubbock, TX 79409
United States

Samuel Absher

Texas Tech University ( email )

2500 Broadway
Lubbock, TX 79409
United States

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