Origins and the Reasons of Monetary Crises in Georgia (1995-2016) - Modern Economy

ME > Vol.7 No.11, October 2016

Origins and the Reasons of Monetary Crises in Georgia (1995-2016) ()

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Download as PDF (Size: 344KB) PP. 1232-1250

DOI: 10.4236/me.2016.711119 2,059 Downloads 3,615 Views Citations

Author(s)

David Aslanishvili¹, Kristine Omadze²

Affiliation(s)

¹Doctor of Economy, Faculty of Economy and Business, Tbilisi State University, Tbilisi, Georgia.
²Doctor of Business Administration, Tbilisi, Georgia.

ABSTRACT

The article “Monetary Crises in Georgia” (Authors: Doctor of Economy, David Aslanishvili and Doctor of Business Administration, Kristine Omadze) is the first attempt to overview the three main monetary crises in Georgian history since its independence and to study origins of the crises and evolution. The purpose of this article is to study the three monetary crises in Georgia itself and the errors in the Monetary Policy provided by The National Bank of Georgia and Georgian Government. It is crucial for stable economic development to have corrected Monetary Policy and to avoid mistakes similar to the mentioned in this article. At the same time, the article pays attention to importance of coordination providing Monetary Policy between the National Bank of Georgia and the Ministry of Finance. In our opinion only such coordination is the best solution for crisis prevention. Our research aims to determine the relevance and regularity of Georgian Lari (GEL) exchange rate and monetary policies conducted by the National Bank of Georgia.

KEYWORDS

Currency Crisis, The Lari Exchange Rate, Monetary Aggregates, International Reserves, National Bank of Georgia

Share and Cite:

Aslanishvili, D. and Omadze, K. (2016) Origins and the Reasons of Monetary Crises in Georgia (1995-2016). Modern Economy, 7, 1232-1250. doi: 10.4236/me.2016.711119.

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