Georgian MP, Career Banker and Financier Reveals Details Behind Global Financial Crisis

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The FINANCIAL — Almost ten years have passed since the onset of the global economic crisis, but scientists, businesspeople, bankers, and politicians continue to argue about its causes and whether it could have been prevented.

New book by Professor Irakli Kovzanadze, Member of Georgian Parliament, presented last week, analysis macroeconomic, institutional and structural factors leading to global economic and financial crisis.

The anticrisis measures that were taken also remain in dispute, and if you ask ten different economists which direction the economy is going, you’ll likely get ten different answers.

Irakli Kovzanadze, a career banker and financier, examines the crisis, including its effects on the world’s social and political development in this important book.

He highlights the following: —causes of the crisis, including a dangerous triad of deregulation, financial innovation, and the speculative nature of doing business —anticrisis measures at the national, regional, and international levels —measures for reforming rating agencies that occupy an exceptionally important place in the modern global economy.

From the origins and development of the crisis in the United States of America and Europe, to its ultimate spread, and on to ways the crisis was overcome, this book is an essential resource for aspiring macroeconomists, geopoliticians, bankers, students, and business professionals.

Irakli Kovzanadze holds a Ph.D.s in mathematics and economics. He is a Professor of Finance at Tbilisi State University. A career banker and financier, chairs a Fiscal Committee of the Parliament of Georgia, elected in October 2016. He was CEO of JSC Partnership Fund in Georgia, a sovereign investment fund from 2012-2015, managing $3.5 billion-worth of assets of state-owned enterprises.

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During 2007-2008 he chaired the Joint Commission of the EBRD/OECD on Corporate Governance of banks in Eurasia. In 2008-2012 he represented the EBRD in the Boards of Directors and Supervisory Councils of various financial institutions. Irakli Kovzanadze is an author of 7 monographs, over 50 scientific papers in the field of mathematics and economics. Most of his works focus on the study of emerging economies, systemic and cross-border banking crisis, their genesis, detection, development, prediction and prevention.

Read introduction by the author





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