The transformation of Georgia from 2004 to 2012 : state building, reforms, growth and investments

' ... a well-balanced synthesis of theory, facts, personal stories and innovative views that is the must read for any person interested in public sector reforms and in the economic transformation ... ' --Nika Gilauri, Prime Minister of Georgia, 2009-2012 ' ... a comprehensive account of Georgia's success, which offers an attractive reform blueprint for other developing economies to follow ... fleshes out virtually all key issues in a way that is of practical use to any policy maker in a developing economy ... ' --Lado Gurgenidze, Prime Minister of Georgia, 2007-2008 This book discusses the period before and after the Soviet collapse and the impact on Georgia's economy and society. It examines the political economy and the technicalities of Georgia's groundbreaking reforms in 2004-2012 and how they were part of the broad state-building and modernization effort. The author elaborates on the three main pillars of Georgia's growth and investor outreach: health of the sovereign balance sheet, soundness of the business environment and the efficiency of the banking sector. The book also provides cross-country discussion to show how the state building lessons from Georgia could be applied to other similar economies and will be of interest to scholars and professionals in the fields of public finance and economic growth. Dimitri Gvindadze was the Deputy Finance Minister and the Finance Minister of Georgia from 2005-2012. He was Lead Economist of the European Bank for Reconstruction and Development (EBRD) responsible for Eastern Europe and the Caucasus from 2014-2015, and has been the EBRD Country Head in Moldova since 2016 Front Matter ....Pages i-xx The Escape Velocity of Reforms (Dimitri Gvindadze)....Pages 1-8 Georgia’s “J-Curve” (Dimitri Gvindadze)....Pages 9-17 Political Economy of Georgia’s Reforms in 2004–2012: The Ten Commandments (Dimitri Gvindadze)....Pages 19-26 Pillars of Georgia’s Growth and of Investor Outreach in 2004–2012 (Dimitri Gvindadze)....Pages 27-92 The Outcome: Sound Growth, Significant Inbound Investment, Substantially Reduced Corruption (Dimitri Gvindadze)....Pages 93-98 The Limits and the Virtues of the Public Action: The Example of Agriculture (Dimitri Gvindadze)....Pages 99-103 Riding the Bicycle (Dimitri Gvindadze)....Pages 105-109 Erratum to: The Transformation of Georgia from 2004 to 2012 (Dimitri Gvindadze)....Pages E1-E1 Back Matter ....Pages 111-123