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Liberalization in Georgia; the story of authoritarian reforms in turmoil times

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Liberalization in Georgia; the story of authoritarian reforms in turmoil times

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Samenvatting

In this paper I describe the changes of the Georgian business climate in the past 8 years. Starting with an overview of the pre Rose Revolution economic circumstances I describe the changes in the business climate according to the three main elements of the liberalization. Prior to the further description of the main elements I give an extensive overview of Georgia's macro economic development in the period 2003 - 2011. Included in this overview is a comparison with the countries Armenia, Azerbaijan, Belarus, and Ukraine.

The new government that came in to power after the peace full Rose Revolution implanted the liberalizing reforms, starting with an new tax code in 2004. I evaluate the consequences of the new tax code and describe how businesses had to deal with the changing business climate. Another important element was the deregulation of the Georgian market. By liberalizing the market FDI increased significant and attracted many foreign businesses. Third part is the fight against the rampant corruption that contributed to the impressive growth.

After the 5 day war with Russia and the great financial crisis the Georgian economy suffered a huge downturn and put entrepreneurs to the test. I further describe how entrepreneurs experienced these changes and had to deal with the difficulties. Final aspect is the evaluation based on interviews with business professionals, University professors and Government representatives about the failures and successes of the reforms.

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OrganisatieHZ University of Applied Sciences
OpleidingBedrijfseconomie
InstituutAcademie voor Economie & Management
PartnersTBSC Consulting, Georgia
Gepubliceerd in
Datum2011-06-30
TypeBachelorscriptie
TaalEngels

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