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Journal: Communist and Post-Communist Studies
Communist and Post-Communist Studies (2010) 43 (4): 425–438.
Published: 05 November 2010
... that prolonged civil conflict is one of the critical obstacles toward financial development in Georgia. Bank lending activity is associated with high level of uncertainty stemming from recurrent civil war. Newly privatized commercial banks are excessively cautious in expanding their loan assets to private non...