This book provides insight into the compelling evolution of Georgia’s development and modern challenges. It analyzes the key tendencies that took place during the twenty years of reforming Georgia’s economy. "Vladimer Papava is an outstanding Georgian economist and he has written the best account of Georgia’s complex economic reforms. His excellent analysis clarifies what was actually done, what worked and what did not. This eminent read is perfectly accessible to non-economists as well." – Anders Aslund, Senior Fellow, Peterson Institute for International Economics