Vakhtang BURDULI

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Vakhtang Burduli, D.Sc. (Econ.), department head at the P. Gugushvili Institute of Economics (Tbilisi, Georgia).

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THE ROLE OF GLOBALIZATION IN REVIVING THE ECONOMY OF COUNTRIES IN TRANSITION (A CASE STUDY OF GEORGIA)

ABSTRACT

The article analyzes the ways globalization is conducive to reviving technology and raising the product competitiveness and economic efficiency of a post-Soviet country (Georgia) during its transition to a market economy. With this goal in mind, the author looks at the reasons for the technological lag and decline in product quality in transition states during the pre-reform period. He goes on to substantiate, based on Professor V. Papava’s “theory of necroeconomics during the transition period,” the reasons why a “dead economy” exists during this period and why it gradually dwindles away and disappears completely as market relations develop. He justifies the need to make use of such globalization factors as the movement of investments, innovations, and knowledge, the formation by transnational corporations in transition countries of enterprises engaged in the mass manufacture of the latest high-tech products, and so on, which is imperative for forming a market economy and raising its competitiveness. In the last section of the article, the author looks at the influence of the country’s active integration into the globalization processes on the increase in domestic goods turnover and product export, as well as on raising the efficiency of the economy and prosperity of the population in a state with a transition economy.

Introduction

For several years now, the world has been moving gradually into the era of globalization. This process is primarily reflected in the economy and economic relations in the rapid spread of…………….

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