The civil unrest as an obstacle toward financial development in Georgia, 1991–2007
Bibliographic Data
| ID | 6181391 |
|---|---|
| Authors | Yasushi Suzuki (0000-0002-3939-6917, Ritsumeikan Asia Pacific University), Dulal Miah, Md Dulal Miah (American International University-Bangladesh), Mohammad Dulal Miah (0000-0001-9545-837X, American International University-Bangladesh) |
| Year | 2010 |
| Volume | 43 |
| Issue | 4 |
| Pages | 425-438 |
| Publication date | 2010-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Communist and Post-Communist Studies (JOURNAL) |
| Journal identifiers | ISSN: 0967-067X • E-ISSN: 1873-6920 |
| Publisher | University of California Press (PUBLISHER • US) |
| DOI | 10.1016/j.postcomstud.2010.10.009 |
| OpenAlex | W2079358737 |
| Language | EN |
| Citations received | 1 |
| References cited | 12 |
Georgia has been experiencing robust GDP growth since the Rose Revolution despite its formal financial system remaining critically underdeveloped. This goes against a strongly supported proposition that a country’s economic development is followed by a welldeveloped and efficient financial system. In this paper we first explain the shallow financial deepening in Georgia and show that the economic growth in Georgia has been driven by such determinants as public spending and construction works mainly supported by foreign debt and FDI inflow. This paper further argues that prolonged civil conflict is one of the critical obstacles toward financial development in Georgia. Bank lending activity is associated with high level of uncertainty stemming from recurrent civil war. Newly privatized commercial banks are excessively cautious in expanding their loan assets to private non-financial corporations due mainly to the banks’ inability to precisely assess borrower’s risk involving not only with individual financial soundness but also with political uncertainty
Debt · Economics · Financial crisis · Financial deepening · Financial intermediary · Financial system · Loan · Macroeconomics · Obstacle · Political science · Politics · Spanish Civil War · Unrest · Banking stability, regulation, efficiency · Global Financial Crisis and Policies · Russia and Soviet political economy · Finance
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,25 |
| Citation span | 2022 - 2022 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |