摘要：AbstractThis study aims to investigate factors determining flow of FDI in Georgia, especially after the war with Russia. The key poin t of the analysis is the impact of stability of economic and legal environment on the pattern of FDI. I also tried to examine in this paper the changes of investors’ opinion concerning the investment climate of Georgia after the war and global finance crisis in 2008. This work, I believe, will also fill the knowledge gap in the area of foreign direct investment (FDI) research on Georgia. The analysis focuses on major obstacles faced by investors. I first identify and then quantify the major obstacles for both foreign and domestic investors using the case studies of investors in Georgia and the statistics obtained from these data. The study results indicate that the most serious problem for investors is the political instability. I also found that the issues such as government regulations (regulatory burden), infrastructure, safety or corruption do not act as major deterrents of FDI inflows, especially after the successful reforms of the Saakashvili government. It was also found that most investors have been satisfied with their operation.
关键词：Investments climate;foreign direct investment;Georgian economy
