Purpose – The paper investigates the utility of economic theory for post-Communist economic transformation. It serves to explain the main reasons for market reform failure in different post-Communist countries. Design/methodology/approach – A literature review suggests that after the...

Purpose – The purpose of this paper is to distinguish the economic foundations of post-Communist capitalism and to examine the key economic problems of this type of society in the context of the modern financial crisis. Design/methodology/approach – This question is approached by studying...

The author criticizes the Georgian president for corrupt, populist, and incompetent economic policies and the IMF and World Bank for conniving at these policies for unprofessional reasons.

Since its declaration of independence, Georgia has failed to create an economic system that can provide the basis for stable economic development. The expectations and reforms undertaken after the "Rose Revolution" have not been met. What has developed as a result is a poor country's consumer...

We find that direct comparisons of economic growth by region are not constructive due to the catch-up effect, so certain preconditions must be taken into account. We propose adjusting levels of economic growth based on a hypothesis of proportional overlap for the catch-up effect, after which...