Georgia’s transformation: case of privatization

Liza Katsiashvili

Master's thesis

Abstract:

The collapse of Soviet Union stimulated the emergence of the transitional process for the post-Soviet world. The countries which broke away from the centrally planned economy were in need of consequential political and economic reforms, which would stabilize and ensure the desirable future for each nation. In the midst of the reforms, the republic of Georgia has undergone different phases of the transition. This paper addresses the topic of privatization as a core element for the transition from communism to capitalism in Georgia. By analyzing the existent theoretical framework in correspondence with the real live economic data the paper hypothesizes that the lack of instant consistent approach of the privatization, resulted in the significant delay for the establishment of market driven economy in the country. The later implemented approach of the shock therapy succeeded in the above-mentioned desirable outcomes.

Abstract:

The collapse of Soviet Union stimulated the emergence of the transitional process for the post-Soviet world. The countries which broke away from the centrally planned economy were in need of consequential political and economic reforms, which would stabilize and ensure the desirable future for each nation. In the midst of the reforms, the republic of Georgia has undergone different phases of the transition. This paper addresses the topic of privatization as a core element for the transition from communism to capitalism in Georgia. By analyzing the existent theoretical framework in correspondence with the real live economic data the paper hypothesizes that the lack of instant consistent approach of the privatization, resulted in the significant delay for the establishment of market driven economy in the country. The later implemented approach of the shock therapy succeeded in the above-mentioned desirable outcomes.

Keywords

GEORGIA, TRANSFORMATION, CASE, OF, PRIVATIZATION

Language used: English

Date on which the thesis was submitted / produced: 10. 9. 2021

Thesis defence

• Date of defence: 23. 9. 2021
• Supervisor: Dušan Tříska
• Reader: Prof. Ing. Josef Šíma, Ph.D.

CEVRO Institute

Master programme / field:
Philosophy, Politics, Economics / Philosophy, Politics, Economics