Cover Osteuropa 7-10/2015

In Osteuropa 7-10/2015
Teil des Lesepaket Volkswirtschaft

Georgia: State in the Market
From Neoliberalism to Managed Capitalism

Christian Timm

Deutsche Fassung


After the Rose Revolution of 2003, the relationship between economics and politics changed in Georgia. Mikheil Saakashvili’s policy of deregulation and non-intervention had the desired effects: bureaucracy and corruption were eliminated. The business environment became more attractive. Liberal reforms, however, were accompanied by arbitrary, informal interventions. 2008 was a turning point in economic policy. Domestic political protests, loss in standing after the August war with Russia, and the global financial crisis accelerated the end of the liberal economic model. The government de facto introduced a state managed development program.

(Osteuropa 7-10/2015, pp. 255–270)