This paper applies the Growth Diagnostics framework and attempts to identify the binding constraints to economic growth in Georgia. While many policies potentially promote economic growth in practice only policies that relax the binding constraint do so. In contrast, policies that relax...

In the economic literature the costs of financial crises are typically defined as cumulative output losses until the resolution of the crisis. Given this definition, majority of the empirical studies have documented significant economic costs associated with currency, banking and the twin...