Stock Market in Georgia: Reasons of Fails

Davit (David) Aslanishvili
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Davit (David) Aslanishvili: Caucasus University, Georgia

International Journal of Risk and Contingency Management (IJRCM), 2021, vol. 10, issue 2, 26-38

Abstract: The study examines the financial and economic reality and backwardness of Georgia. It reflects the monopoly of commercial banks thanks to the steady support of the state and the central bank, which ultimately does not allow for the attraction of alternative financial capital and is one of the main reasons for the country's failure. In this respect, the economic progress is directly linked to this problem. Developing an economy requires large financial investments and resources. Based on the research a number of proposals need to be introduced to change the situation and to build a competitive financial market. The ultimate goal is to end the monopoly position of commercial banks and to neutralize the negative activity of the Central Bank of Georgia as the regulator of this market. This is the only way to create the independent and competitive source of finance and investment in Georgia. Ultimately, this will increase market capitalization and eliminate the backwardness between Georgia and a number of leading countries in the field of financial market and its infrastructure.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:igg:jrcm00:v:10:y:2021:i:2:p:26-38

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