Economic Growth in Georgia: Historical Perspectives and Prognosis

Abstract

While output declined in virtually all transition economies in the initial years, the speed and extent of the recovery that followed has varied widely across these countries. The paper examines some aspects of transition experiences of 1990s and dynamics of GDP in Georgia during transition recession and following post-recession recovery. Economic growth is considered as complex and comprehensive phenomenon. The prognostic econometric model of Georgian GDP is developed.economic growth, GDP, transitional economy, Georgia, prognostic model, regression, non –linear trend