Challenges to the South Caucasus Regional Security Aftermath of Russian–Georgian Conflict: Hegemonic Stability or New Partnership?

Kakachia, Kornely

doi:10.1016/j.euras.2010.10.005

Cited by 33 publications

(14 citation statements)

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“…There also appears to be some regional specific factors. The Georgian war of 2008 contributed to its economic woes and access to financial challenges, with a negative impact on the South Caucasus region (Simão, 2012;Kakachia, 2011). Following the effect of the financial crisis in 2007-2008, local financial institutions experienced reduced credit, but foreign-owned financial institutions based in CEE countries relied on their parent institutions based abroad to boost their credit availability (Popov and Udell, 2012;Brixiova et al, 2010).…”

Section: Discussionmentioning

confidence: 99%

“…Sammut (2013) believes that although modern buildings abound in the South Caucasus region, old style Soviet "practices" persist. In the conflict between Russia and Georgia in 2008, sections of Georgian territory became isolated with recognition from Russia (Kakachia, 2011). This has caused a negative economic effect on the energy trade route with the EU, as Georgia occupies a strategic geopolitical position.…”

Section: Introductionmentioning

confidence: 99%

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Access to finance for SMEs in post-socialist countries: the Baltic States and the South Caucasus compared

Imarhiagbe

Smallbone

Saridakis

et al. 2021

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PurposeThis article examines access to finance for SMEs in the Baltic States and the South Caucasus countries following the financial crisis of 2007 and is set within the context of the rule of law for businesses.Design/methodology/approachThe article uses the cross-sectional dataset from the Business Environment and Enterprise Performance Survey (BEEPS) for 2009 to examine access to finance for SMEs and the court system in the Baltic States and the South Caucasus countries. An ordered probit estimation technique is used to model access to finance and the court system in the Baltic States and the South Caucasus countries. The analysis draws upon institutional theory to explain access to finance for SMEs.FindingsThe results show variations from one Baltic State and South Caucasus country to another in relation to fairness, speed of justice and enforcement of court decisions. The analysis suggests that if access to finance is not an obstacle to business operations and the court system is fair, impartial and uncorrupted, it determines the likelihood of strength in entrepreneurship. Additionally, the results show that, within the Baltic region, businesses experiencing constraints in accessing finance are more likely to have females as their top managers. However, for the South Caucasus region, there was no gender difference.Research limitations/implicationsThis research is based on evidence from the Baltic States and the South Caucasus region. However, the findings are relevant to discussions on the importance of the context of entrepreneurship, and more specifically, the rule of law. The institutional theory provides an explanation for coercive, normative and mimetic institutional isomorphism in the context of access to finance for SMEs. Coercive institutional isomorphism exerts a dependence on access to finance for SMEs. In coercive institutional isomorphism, formal and informal pressures are exerted by external organisations such as governments, legal regulatory authorities, banks and other lending institutions. These formal and informal pressures are imposed to ensure compliance as a dependency for successful access to finance goal.Practical implicationsThis research creates awareness among entrepreneurs, potential entrepreneurs, business practitioners and society that reducing obstacles to access finance and a fair court system improve entrepreneurial venture formation. This has the potential to create employment, advance business development and improve economic development.Originality/valueThis paper makes an original contribution by emphasising the significance of access to finance and a fair court system in encouraging stronger entrepreneurship. The institutional framework provides a definition for coercive institutional isomorphism to show how external forces exert a dependence pressure towards access to finance for SMEs.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Access to finance for SMEs in post-socialist countries: the Baltic States and the South Caucasus compared

Imarhiagbe

Smallbone

Saridakis

et al. 2021

JSBED

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“…As the continuity of energy supply may be affected by the political and economic situation of the producing or transit (hub) countries which may lead to supply disruption [10] or push-up prices [48]. These elements are essential to attract foreign energy investors and guarantee their investments that could be endangered by economic and political instability [52].…”

Section: Political and Economic Environmentmentioning

confidence: 99%

“…Kakachia [52] Discussing the situation in the South Caucasus region after the Russian-Georgian war and dealing with its economic damages and implications for regional security.…”

mentioning

confidence: 99%

A Conceptual Framework to Establish and Operate a Global Logistics Energy Hub

2021

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Energy-consuming countries are affected by obstructions in supplies or conflicts that may occur along the energy transit path. Hence, the presence of a global logistics hub for energy acting as a connecting bridge between energy-supplying and energy-consuming countries can overcome such troubles, support the sustainable flow of energy, and achieve the overall operational efficiency of the energy supply chain. However, establishing a global energy hub is a complicated issue, especially in the absence of a clear approach for this. Through conducting a systematic literature review on 36 papers over the past two decades, we identified the key determinants for each player in the energy supply chain and proposed a leading and integrated conceptual framework for establishing and operating a global logistics energy hub, with a particular focus on oil and gas. This article contributes to knowledge by providing a comprehensive review targeting energy hubs from a logistics perspective, as previous studies have addressed energy hubs from other perspectives such as political, legal, and security perspectives, while the logistics perspective has not been tackled comprehensively. Moreover, the suggested framework can be then used by further researchers to develop the performance of energy hubs. Practically, this framework can be employed to identify the requirements for a country to become a global energy hub.

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“…This will enable them to quickly develop their energy sectors as well as increase export revenues. Kakachia (2011) posited that the CIS region has become the focus of considerable international attention due to its energy production potential. In line with this finding, Kubicek (2013) believed that because of its geographical situation, China might be in the best position to fully leverage the energy capacity of the CIS region.…”

Section: Literature Reviewmentioning

confidence: 99%

Energy Trade and Economic Integration between the Commonwealth Independent States and China

Rasoulinezhad

2020

Journal of Economic Integration

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The main purpose of this study is to conduct the traditional economic, political, and geopolitical factors to uncover the relationship between different factors and the volume of China's energy importing from the Commonwealth of Independent States. We conducted a panel data framework for our sample during the period between 2001 and 2017. My paper's main findings reveal that the economic sizes of Commonwealth of Independent States members have a positive effect on China's energy import flow from the Commonwealth of Independent States. Furthermore, the amount of the Commonwealth of Independent States 's annual energy exports to countries other than China has a significant negative effect on the level of China's energy imports from the Commonwealth of Independent States. In regard to geographic distance, findings showed a negative sign of its coefficient meaning that geographical distance might decelerate energy trade flows running from the Commonwealth of Independent States to China. I also discovered that China's foreign direct investment in Commonwealth of Independent States states might determine and accelerate energy export flows running from the Commonwealth of Independent States to China. Finally, our major findings proved the evidence of a positive relationship between political risk in the Commonwealth of Independent States and the energy importing flows of China.

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Challenges to the South Caucasus Regional Security Aftermath of Russian–Georgian Conflict: Hegemonic Stability or New Partnership?

Cited by 33 publications

References 1 publication

Access to finance for SMEs in post-socialist countries: the Baltic States and the South Caucasus compared

Access to finance for SMEs in post-socialist countries: the Baltic States and the South Caucasus compared

A Conceptual Framework to Establish and Operate a Global Logistics Energy Hub

Energy Trade and Economic Integration between the Commonwealth Independent States and China

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