Blog Posts
- 20 May 2013
Does Georgia Need Its Own Currency?
According to the Biblical Book of Genesis, Adam ate the forbidden apple, and now we all have to face the consequences: men have to work “by the sweat of their face” and women have “in pain to bring forth children”. Ever since this fateful event,...
- 15 May 2013
Georgian Wine Industry: Recent Past and the Way Forward
We are very happy to host on our blog a commentary by Jacques Fleury, the person behind the resurrection of Borjomi and a key player in the Georgian wine industry. Jacques reflects on the experience of surviving the Russian embargo, on the one hand, and...
- 13 May 2013
Georgia’s Education System Reforms: Corruption is Gone but Where is the Quality?
A country without oil needs smart people! This clearly applies to Georgia. Not endowed with substantial amounts of natural resources, Georgia totally depends on its human resources. Yet how good is the intellectual equipment of the Georgians that is so urgently required for driving the...
- 10 May 2013
What Can Be Achieved Through Better Education?
When speaking about unemployment, arguably the sorest problem in many market economies, “better education” is one of the standard remedies proposed by economists. This recommendation is given to rich and poor countries alike. Yet since I am in Georgia, I am increasingly skeptical about this...
- 08 May 2013
The Soviet Hangover
Recently, we discussed the low ranking of Georgia when it comes to social capital (“Since When Do Georgians Trust Banks More Than Friends?”). In the 2012 Legatum Prosperity Index our country ranked #140 in the social capital subindex, out of 142 surveyed countries! This seems...
- 07 May 2013
Georgian Banks: Friends or Foes?
Once considered the most dynamic sector of the Georgian economy, the banks have recently become a target for fierce criticism by Georgian policymakers and media. In early March, NBG president Giorgi Kadagidze called on commercial banks to reduce interest rates on corporate loans to help...
- 29 April 2013
Fiscal Transparency
Would you like to buy in a supermarket where the supermarket owner decides what you will get for your money after you made the payment? Such a supermarket would arguably not attract many customers. Yet although this is an odd allegory, a good deal of...
- 27 April 2013
Georgia Going with the Wind?
The obsession of hydropower may have obscured other green energy options for Georgia. For one thing, investment in hydro is not happening as fast as could have been expected a few years ago. But, much more importantly, the bulk of hydropower would be in any...
- 23 April 2013
Jobless Growth in Georgia
There is no arguing that during the ten years since the Rose Revolution, the Georgian economy registered an impressive growth performance, averaging 6.6% per annum. Summing up Georgia’s post-2004 growth experience, a recent ISET-PI study (Babych and Fuenfzig (2012)), finds it “remarkable not only in...
- 17 April 2013
Georgian Stunt Drivers on Youtube: Blessing in Disguise?
“Fast and furious… Soviet-style: Crazy stunt drivers of Georgia try to impress Hollywood by speeding through crowded public streets.” The clip, uploaded by the team of would-be-stunts has reportedly received 2million YouTube views in a week. While supposedly there is no such thing as bad...
