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Year 2015, Volume: 4 Issue: 1, 0 - 0, 29.03.2015

Tatiana Papiashvili İlyas Ciloglu

Abstract

References

  • • Annual Report. National Bank of Georgia (2013).
  • • Annual Report. National Bank of Georgia (2012).
  • • Balance of payment of Georgia (2012). National Bank of Georgia.
  • • Balance of payment of Georgia (2011). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 178 (January-December, 2013). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 166 (January-December, 2012). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 154 (January-December, 2011). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 142 (January-December, 2010). National Bank of Georgia.
  • • Cecire M. ( 2010). Entrepreneurship and Georgia’s Future. Evolutsia.Net. Retrieved August 5, 2011 from http://www.evolutsia.net/entrepreneurship-and-georgias- future/
  • • Cecire M. (2009a). Georgia Needs Real Education Reform. Evolutsia.Net. Retrieved August 5, 2011 from http://www.evolutsia.net/georgia-needs-real-education-reform/
  • • Cecire M. (2009b). Will Economic Freedom Save Georgia? Retrieved September 7, 2011 from http://www.evolutsia.net/will-economic-freedom-save-georgia/
  • • Cordonnier, C. (March 2006). Georgia ’s Economic Growth : How to Avert Possible Risks in Future. Georgian Economic Trends, p.48-56
  • • Cordonnier, C. (April 2010). EU Export Market Conditions for the Realisation of the Competitive Advantages of Georgian Agricultural Products. Retrieved August 7, 2011 from http://www.geplac.ge/newfiles/GeorgianEconomicTrends/Cordonnier%202010.p df
  • • Country partnership strategy for Georgia FY2014 – FY2017. (2014). Report Number: 85251-GE. International Bank for Reconstruction and Development, International Development Association, International Finance Corporation.
  • • Enterprise Survey. Georgia: Country Profile (2013). International Financial Corporation/World Bank
  • • Fostering Entrepreneurship in Georgia. (2013). IBRD/ W B
  • • Government of Georgia: Press Release 11 July, 2011. Retrieved June 21, 2011 from http://www.government.gov.ge/files/34_32576_148262_GEORGIAADOPTS THEECONOMICLIBERTYACT.pdf
  • • Gross H. W. (2009). On the “Course” to a New Normal. INVESTMENT OUTLOOK. Retrieved September 7, 2014 from http://www.pimco.com/EN/Insights/Pages/Gross%20Sept%20On%20the%20Cou rse%20to%20a%20New%20Normal.aspx
  • • Kakulia, M. (October 2007).Challenges and Prospects of Economic Growth in Georgia. Georgian Economic Trend. p. 49-56
  • • Livny, E. (2009). The Liberty Act: An economist’s comments. Investor.ge. Issue 6.Retrieved June 8, 2011 from http://www.investor.ge/issues/2009_6/06.htm
  • • Letter of development policy of the government of Georgia for the competitiveness and growth development policy operation. Prime Ministry of Georgia.
  • • Manyika J., Bughin J., Lund S., Nottebohm O., Poulter D., Jauch S., Ramaswamy S. Global flows in a digital age: How trade, finance, people, and data connect the world economy (2014). McKinsey Global Institute. Retrieved October 2, 2014 from http://www.mckinsey.com/insights/globalization/global_flows_in_a_digital_age
  • • National Bank of Georgia. Annual Report 2013. Tbilisi, Georgia
  • • Papiashvili, T. (2013). Georgia’s Paradox: Growth without Employment. Proceedings of the First Mevlana (Rumi) University International Economics and Law Symposium. Mevlana University, Konya, Turkey, p.37-43.
  • • Samson, I. (February 2008). Medium-Term Prospects for the Georgian Economy. Georgian Economic Trends, p.63-77
  • • Shmidt, M. (January 2007). Foreign Direct Investment to Georgia: Can Active Investment Promotion Polices Make a Difference. Georgian Economic Trends, p. 63-71
  • • World data bank. Retrieved October 16, 2013 from http://databank.worldbank.org/data/views/reports/tableview.aspx
  • • World Economic Outlook. Recovery Strengthens, Remains Uneven. (April 2014). IMF. Retrieved October 1, 2014 from http://www.imf.org/external/pubs/ft/weo/2014/01/pdf/text.pdf • World Bank. Georgia Overview (2014). Retrieved October 25, 2014 from http://www.worldbank.org/en/country/georgia/overview

TO DISCUSSION OF POST-CRISIS DRIVERS OF GEORGIA’S ECONOMIC GROWTH

Year 2015, Volume: 4 Issue: 1, 0 - 0, 29.03.2015

Tatiana Papiashvili İlyas Ciloglu

Abstract

 Statistics evidence that drivers of pre-crisis model of economic growth in Georgia (foreign direct investment and financial/banking sector development) are constrained. The modification of pre-crisis to post-crisis model consists of further reorientation from consumption to investment component of GDP and diversification of investment sources. FDI have to be accomplished by internal (private) investment, the main generator of which are SMEs. SMEs gather small private savings and transfer them to private investment. SMEs might play a greater role in country’s economic growth.

References

  • • Annual Report. National Bank of Georgia (2013).
  • • Annual Report. National Bank of Georgia (2012).
  • • Balance of payment of Georgia (2012). National Bank of Georgia.
  • • Balance of payment of Georgia (2011). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 178 (January-December, 2013). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 166 (January-December, 2012). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 154 (January-December, 2011). National Bank of Georgia.
  • • Bulletin of Monetary and Banking Statistics, # 142 (January-December, 2010). National Bank of Georgia.
  • • Cecire M. ( 2010). Entrepreneurship and Georgia’s Future. Evolutsia.Net. Retrieved August 5, 2011 from http://www.evolutsia.net/entrepreneurship-and-georgias- future/
  • • Cecire M. (2009a). Georgia Needs Real Education Reform. Evolutsia.Net. Retrieved August 5, 2011 from http://www.evolutsia.net/georgia-needs-real-education-reform/
  • • Cecire M. (2009b). Will Economic Freedom Save Georgia? Retrieved September 7, 2011 from http://www.evolutsia.net/will-economic-freedom-save-georgia/
  • • Cordonnier, C. (March 2006). Georgia ’s Economic Growth : How to Avert Possible Risks in Future. Georgian Economic Trends, p.48-56
  • • Cordonnier, C. (April 2010). EU Export Market Conditions for the Realisation of the Competitive Advantages of Georgian Agricultural Products. Retrieved August 7, 2011 from http://www.geplac.ge/newfiles/GeorgianEconomicTrends/Cordonnier%202010.p df
  • • Country partnership strategy for Georgia FY2014 – FY2017. (2014). Report Number: 85251-GE. International Bank for Reconstruction and Development, International Development Association, International Finance Corporation.
  • • Enterprise Survey. Georgia: Country Profile (2013). International Financial Corporation/World Bank
  • • Fostering Entrepreneurship in Georgia. (2013). IBRD/ W B
  • • Government of Georgia: Press Release 11 July, 2011. Retrieved June 21, 2011 from http://www.government.gov.ge/files/34_32576_148262_GEORGIAADOPTS THEECONOMICLIBERTYACT.pdf
  • • Gross H. W. (2009). On the “Course” to a New Normal. INVESTMENT OUTLOOK. Retrieved September 7, 2014 from http://www.pimco.com/EN/Insights/Pages/Gross%20Sept%20On%20the%20Cou rse%20to%20a%20New%20Normal.aspx
  • • Kakulia, M. (October 2007).Challenges and Prospects of Economic Growth in Georgia. Georgian Economic Trend. p. 49-56
  • • Livny, E. (2009). The Liberty Act: An economist’s comments. Investor.ge. Issue 6.Retrieved June 8, 2011 from http://www.investor.ge/issues/2009_6/06.htm
  • • Letter of development policy of the government of Georgia for the competitiveness and growth development policy operation. Prime Ministry of Georgia.
  • • Manyika J., Bughin J., Lund S., Nottebohm O., Poulter D., Jauch S., Ramaswamy S. Global flows in a digital age: How trade, finance, people, and data connect the world economy (2014). McKinsey Global Institute. Retrieved October 2, 2014 from http://www.mckinsey.com/insights/globalization/global_flows_in_a_digital_age
  • • National Bank of Georgia. Annual Report 2013. Tbilisi, Georgia
  • • Papiashvili, T. (2013). Georgia’s Paradox: Growth without Employment. Proceedings of the First Mevlana (Rumi) University International Economics and Law Symposium. Mevlana University, Konya, Turkey, p.37-43.
  • • Samson, I. (February 2008). Medium-Term Prospects for the Georgian Economy. Georgian Economic Trends, p.63-77
  • • Shmidt, M. (January 2007). Foreign Direct Investment to Georgia: Can Active Investment Promotion Polices Make a Difference. Georgian Economic Trends, p. 63-71
  • • World data bank. Retrieved October 16, 2013 from http://databank.worldbank.org/data/views/reports/tableview.aspx
  • • World Economic Outlook. Recovery Strengthens, Remains Uneven. (April 2014). IMF. Retrieved October 1, 2014 from http://www.imf.org/external/pubs/ft/weo/2014/01/pdf/text.pdf • World Bank. Georgia Overview (2014). Retrieved October 25, 2014 from http://www.worldbank.org/en/country/georgia/overview
There are 28 citations in total.

Details

Journal Section Articles
Authors

Tatiana Papiashvili This is me

İlyas Ciloglu This is me

Publication Date March 29, 2015
Published in Issue Year 2015 Volume: 4 Issue: 1

Cite

APA Papiashvili, T., & Ciloglu, İ. (2015). TO DISCUSSION OF POST-CRISIS DRIVERS OF GEORGIA’S ECONOMIC GROWTH. Journal of Business Economics and Finance, 4(1). https://doi.org/10.17261/Pressacademia.201519951

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