Investment Climate of Georgia after "Rose Revolution": Recent Improvements and New Challenges
AbstractThe article focuses on effectiveness of Investment climate in Georgia after transition period. Investment climate is the institutional, policy and regulatory environment in which firms operate; factors that influence the link from sowing to reaping and I can say that investment climate itself is the process from sowing to reaping because you will reap what you sew. Investment climate is the opportunity and incentive for firms to invest productively, create jobs and expand. One of the major determinations of country's economic developments and wellbeing are the indicators of investment structure and volume. These indicators show attractiveness of economy for foreign investors and give clues for analyzing countries development process.Â Investment climate matters for the total factor productivity, average wage rates, the rate of return on fixed assets, growth rate of output, employment, corruption plus government regulations, taxes, political and economical stability, migration. A good investment climate is an essential pillar of a country's strategy to stimulate economic growth, which in turn generates opportunities for poor people to have more productive jobs and higher income. Hypothesizing that long term effect of foreign investment will increased in increased employment and household income, poverty will be decreased and Georgian economy will be developed. The paper also includes the results of a survey conducted to find out the changes of investment climate after "Rose Revolution".
How to Cite
KBILTSETSKHLASHVILI, Tea. Investment Climate of Georgia after "Rose Revolution": Recent Improvements and New Challenges. IBSU Scientific Journal, [S.l.], v. 2, n. 2, p. 47-86, feb. 2009. ISSN 2233-3002. Available at: <https://journal.ibsu.edu.ge/index.php/ibsusj/article/view/86>. Date accessed: 13 aug. 2020.
Legal and Social Sciences, Economics
foreign direct investment; natural resources; employment; economic growth; political stability; taxes; corruption
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).