You say you want a (Rose) Revolution? The effects of Georgia's 2004 market reforms

Robert Lawson, Kevin Grier, Samuel Absher

Research output: Contribution to journalArticlepeer-review

2 Scopus citations

Abstract

After Georgia declared its independence from the Soviet Union, it experienced civil war and strife for more than a decade. In late 2003, the peaceful Rose Revolution installed a new government that began a series of radical market-liberal reforms. However, the effectiveness of these reforms was controversial. We offer a rigorous evaluation of these reforms via the synthetic control method which creates a credible counterfactual. Compared to the synthetic controls, we find that the reforms enacted after the Rose Revolution led to significant improvements in Georgia's social and economic development, albeit with temporary side effects and argue that this case provides some support for the effectiveness of rapid, multidimensional reform.

Original languageEnglish
Pages (from-to)301-323
Number of pages23
JournalEconomics of Transition
Volume27
Issue number1
DOIs
StatePublished - Jan 2019

Keywords

  • Georgia
  • Rose Revolution
  • liberalization
  • reform
  • synthetic control

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