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Gradualistic strategy of transition to market economy

Author

Listed:
  • Giorgi MIKELADZE

    (Tbilisi State University, Georgia)

  • Simon GELASHVILI

    (Tbilisi State University, Georgia)

Abstract

Following the collapse of the Soviet Union, post-Soviet countries started transition to the market economy, giving birth to various economic theories. The article presents review of Gradualistic theory of transition to the market economy and empirical research based on the economic indicators of China. In the model percentage values of savings and total investments are taken as variables indicating to the financial capabilities of the State. Empirical research demonstrated that norm for total investments and savings has direct growing relationship with the Gross Domestic Product, which is a logical outcome. Moreover, factors of government reform activities and government support have also direct growing relationship with the growth in Gross Domestic Product. Received outcomes are adequate to the theoretical model and indicate to the efficiency of Gradualistic strategy.

Suggested Citation

  • Giorgi MIKELADZE & Simon GELASHVILI, 2016. "Gradualistic strategy of transition to market economy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(609), W), pages 237-242, Winter.
    • Handle: RePEc:agr:journl:v:xxiii:y:2016:i:4(609):p:237-242
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    References listed on IDEAS

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    1. Kolodko, Grzegorz W., 2000. "From Shock to Therapy: The Political Economy of Postsocialist Transformation," OUP Catalogue, Oxford University Press, number 9780198297437.
    2. Breusch, T S, 1978. "Testing for Autocorrelation in Dynamic Linear Models," Australian Economic Papers, Wiley Blackwell, vol. 17(31), pages 334-355, December.
    3. Godfrey, Leslie G, 1978. "Testing against General Autoregressive and Moving Average Error Models When the Regressors Include Lagged Dependent Variables," Econometrica, Econometric Society, vol. 46(6), pages 1293-1301, November.
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    Cited by:

    1. Simon Gelashvili, 2019. "Statistical Analysis of Long-Term Trends of Trade Relations between Georgia and Canada," International Business Research, Canadian Center of Science and Education, vol. 12(2), pages 174-180, February.

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