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Economy of Georgia: Fragile economic stability
https://doi.org/10.32609/0042-8736-2019-10-64-84
Abstract
This paper is devoted to the analysis of the main factors of economic growth stability of Georgia persistent during the last 30 years of the country’s development. Exceptional gravity of the crisis in the beginning of market transformation of Georgia in 1980—1990 as well as the success of market reforms is discussed. The article also highlights the consequences of the transitional period both for the citizens of the country and for the whole economy, in particular for human capital development under conditions of persistent socio-economic imbalances. In addition, this research analyzes recent changes in the structure and the drivers of economic growth and the dependence of Georgian economy on external financing (both investments and personal remittances). Even though there has been a noticeable macroeconomic stability in the post-Soviet period which manifests itself in stable GDP growth rates, social development of Georgia is still characterized by a number of problems such as low natural population growth, high levels of poverty and social inequality.
About the Authors
Leonid M. Grigoryev
National Research University Higher School of Economics; Analytical Center for the Government of the Russian Federation
Russian Federation
Moscow
Russian Federation
Moscow
Victoria A. Pavlyushina
National Research University Higher School of Economics; Analytical Center for the Government of the Russian Federation
Russian Federation
Moscow
Russian Federation
Moscow
Nesipli M.-A. Kulaeva
Analytical Center for the Government of the Russian Federation; Lomonosov Moscow State University
Russian Federation
Moscow
Russian Federation
Moscow
Evgeniya E. Muzychenko
National Research University Higher School of Economics; Analytical Center for the Government of the Russian Federation
Russian Federation
Moscow
Russian Federation
Moscow
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Review
For citations:
Grigoryev L.M., Pavlyushina V.A., Kulaeva N.M., Muzychenko E.E. Economy of Georgia: Fragile economic stability. Voprosy Ekonomiki. 2019;(10):64-84. (In Russ.) https://doi.org/10.32609/0042-8736-2019-10-64-84
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