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We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to brute accumulation of capital (extensive growth). On the basis of a simple growth accounting exercise, we infer that advances in education at all levels, good governance, and institutional reforms have played a more significant role in raising economic output and efficiency in Estonia than in Georgia which remains marred by various problems related to weak governance in the public and private spheres.

Economic development --- Estonia --- Georgia (Republic) --- Economic conditions --- Social conditions --- Development, Economic --- Economic growth --- Growth, Economic --- Republic of Georgia --- Sakʻartʻvelo (Republic) --- Sakʻartʻvelos Respublika --- Gruzyah (Republic) --- Cheorchia (Republic) --- Xorxa (Republic) --- Jorjia (Republic) --- Gürcüstan (Republic) --- Gruzie (Republic) --- Gruzínská republika --- Georgien (Republic) --- República de Georgia --- Kartvelio (Republic) --- Gruzio (Republic) --- Gruusia (Republic) --- Georgian tasavalta --- Lýðveldið Georgia --- Géorgie (Republic) --- Geörgje (Republic) --- An tSeoirsia --- tSeoirsia (Republic) --- Xeorxia (Republic) --- Republik Georgia --- Gruzija (Republic) --- Grúzia (Republic) --- Pow Grousi --- Gruzijas Republika --- Gruzja (Republic) --- Giorgia (Republic) --- Gruzínsko (Republic) --- Republika Gruzija --- Đurđija (Republic) --- Gürcistan (Republic) --- Georgän (Republic) --- Gjeorgjia (Republic) --- Грузия (Republic) --- Gruzii︠a︡ (Republic) --- Грузија (Republic) --- Грузія (Republic) --- Hruzii︠a︡ (Republic) --- Республіка Грузія --- Respublika Hruzii︠a︡ --- Γεωργία (Republic) --- Gu̇rzhīstan (Republic) --- Georgija (Republic) --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Georgian S.S.R. --- Banks and Banking --- Labor --- Macroeconomics --- Public Finance --- National Government Expenditures and Related Policies: General --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Labor Economics: General --- Education: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Labour --- income economics --- Public finance & taxation --- Education --- Banking --- Public expenditure review --- Human capital --- Expenditures, Public --- Labor economics --- Banks and banking --- Georgia

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Macroeconomics --- Economic policy and planning (general) --- Foreign trade. International trade --- European law --- Financial law --- economische politiek --- wereldeconomie --- macro-economie --- Europees recht --- internationale economie --- financieel recht --- Europese eenmaking --- Europe

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