Reforming of the Post-Soviet Georgia's Economy in 1991-2011

Abstract

Similarly to other post-Communist countries Georgia also embarked transition from a command economy to a market economy. The Georgian experience of reforming its economy should be considered interesting as the country succeeded in overcoming the hyperinflation and the economic downturn was followed with the economic growth. Successes in economic reforms were followed by stagnation, which was particularly exacerbated by the increased scale of corruption. The economic reforms, which were carried out after the "Rose Revolution," are especially interesting. Along with successful reforms of neo-liberal nature, neo-Bolshevik actions became apparent as the Government started openly infringing property rights.