<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The aim of this article is to examine Georgia's economic transformation and try to answer the question: Why Georgia is not able to have a stable and high economic growth? In this article, it will be an attempt to answer this question by taking into account the weak private sector in Georgia, as one of the main burdens of economic growth. The article attempts to analyse the economic transformation in Georgia. The reasons for its failure and consequences, also to estimate its possible impact on the nowadays economic situation in Georgia. The latter will be examined from the perspective of Institutional Theory. The article will try to answer the above-mentioned question and problems, taking into account the institutional changes in Georgia. The article explains the unsuccessful path of transformation and tries to connect its results to the current economic situation in Georgia.</p></abstract>

The aim of this article is to examine Georgia's economic transformation and try to answer the question: Why Georgia is not able to have a stable and high economic growth? In this article, it will be an attempt to answer this question by taking into account the weak private sector in Georgia, as one of the main burdens of economic growth. The article attempts to analyse the economic transformation in Georgia. The reasons for its failure and consequences, also to estimate its possible impact on the nowadays economic situation in Georgia. The latter will be examined from the perspective of Institutional Theory. The article will try to answer the above-mentioned question and problems, taking into account the institutional changes in Georgia. The article explains the unsuccessful path of transformation and tries to connect its results to the current economic situation in Georgia.

The Essentials of Georgia's Economic Transformation

Ivane Javakhishvili Tbilisi State University

Wroclaw Review of Law, Administration & Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"The Essentials of Georgia's Economic Transformation"}

The aim of this article is to examine Georgia's economic transformation and try to answer the question: Why Georgia is not able to have a stable and high...

The Essentials of Georgia's Economic Transformation

Published Online: Jun 11, 2020

Page range: 46 - 57

DOI: https://doi.org/10.2478/wrlae-2019-0003

Keywords
Economic transformation, post-Soviet transformation, institutional economics, Georgia

© 2019 Tsotne Iashvili, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Essentials of Georgia's Economic Transformation

Published Online: Jun 11, 2020

Page range: 46 - 57

DOI: https://doi.org/10.2478/wrlae-2019-0003

KeywordsEconomic transformation, post-Soviet transformation, institutional economics, Georgia

© 2019 Tsotne Iashvili, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Economic transformation, post-Soviet transformation, institutional economics, Georgia