Can Georgia stimulate investment in electricity-intensive sectors by providing cheap electricity? To answer this question one has to first analyze the behavior of the wholesale electricity market during the past 3 years.

Wages and productivity levels differ across countries. For instance, in 2011 the average yearly income in the US was about $53 000, whilst the same indicator was $250 in Madagascar.

In 1905, Max Weber, in his masterpiece, “The Protestant Ethics and Spirit of Capitalism”, proposed an interesting hypothesis which claimed that Protestantism, Calvinism, and Puritan ethics influenced the development of capitalism.

Computable General Equilibrium (CGE) model is an analytical tool commonly used by countries and international financial institutions to simulate policy interventions. CGE applications are not limited to any particular policy area. Their usefulness is highest when the simulated policy intervention is expected to generate significant feedback effects or spillovers into sectors that may not be directly affected.

Mathematical literacy has always been a key factor in improving a country’s productivity and competitiveness. Stanford University’s Eric Hanushek has shown that there is a positive relationship between students’ performance in mathematics tests and economic growth.