This paper looks at economic growth and its fundamental determinants in Russia over the last decades. It starts by showing that, contrary to the views of some political commentators, growth is highly important for the popularity of president Putin. Furthermore, regular models of growth are...

While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...

Georgian monetary relations have a centuries-old history. Credit associations were first founded in 11-13th centuries. Network of credit institutions became larger in the 19th century – independent commercial banks were established in the second half of the 19th century. Central State Bank of...

Historical experience shows that problems of economic development in certain countries are linked to the rational use of economic resources. It is not accidental that this issue was of high importance as early as in the 19th century in Georgia. An outstanding Georgian writer Ilia Tchavtchavadze...

After the collapse of the Soviet Union, at the beginning of the 1990s, Georgia regained its independence and began the process of building a market economy. It went quite painfully and was compunded by internal and external conflicts. here were dismal failures and successes in the economy. n...

The globalization severely affected post-Soviet countries which were in the process of introduction of new reforms. Independent states emerged after the collapse of the Soviet Union had to make a choice while building market economy. One group of countries (the Baltic States) chose European...