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Evolutionary Aspects Of The Georgian Banking System

Author

Listed:
  • Tamar ATANELISHVILI,

    (Ivane Javakhishvili Tbilisi State University, Georgia)

  • Nodar SILAGADZE

    (Ministry of Finance of Georgia)

Abstract

Georgian monetary relations have a centuries-old history. Credit associations were first founded in 11-13th centuries. Network of credit institutions became larger in the 19th century – independent commercial banks were established in the second half of the 19th century. Central State Bank of Georgia was established in the Democratic Republic of Georgia in the beginning of the 20th century. At the same time, there were efforts to create independent two-level banking system, although those efforts failed due to forceful sovietization of Georgia. But still, independent banking system was founded in Georgia after the collapse of the former Soviet Union. This work examines afore-mentioned evolutionary processes and some of peculiarities of modern banking system. The research shows that modern Georgian banking system is growing fast but it contains signs of oligopoly which contradicts the interests of vast masses of population and entrepreneurial development, while stimulating retaining of high interest rates and devaluation of national currency.

Suggested Citation

  • Tamar ATANELISHVILI, & Nodar SILAGADZE, 2016. "Evolutionary Aspects Of The Georgian Banking System," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(2), pages 1-20, july.
    • Handle: RePEc:scm:ecofrm:v:5:y:2016:i:2:p:20
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    File URL: http://ecoforumjournal.ro/index.php/eco/article/view/376/249
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    References listed on IDEAS

    as
    1. Avtandil SILAGADZE, & Tamaz ZUBIASHVILI, & Tamar ATANELISHVILI, 2016. "The Use Of Drinking Water In The Conditions Of Maintaining Ecological Balance," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(1), pages 1-7, January.
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    Citations

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    Cited by:

    1. Elguja MEKVABISHVILI, & Tamar ATANELISHVILI, 2017. "Globalization: Emigration And Transactions," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(2), pages 1-3, july.
    2. Tamar Atanelishvili, & Mikheil Chikviladze, Author-Workplace-Name: Ivane Javakhishvili Tbilisi State University, Georgia & Nodar Silagadze, 2017. "About State Financial Control," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(1), pages 1-47, January.
    3. Tamaz Zubiashvili, & Tamar Atanelishvili, 2017. "Some Aspects Of National Economic Doctrine," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(1), pages 1-14, January.
    4. Avtandil SILAGADZE, 2017. "About Regional Economic Thought," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(2), pages 1-4, july.

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