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It is a commonly accepted view that corruption is bad for economic growth. It leads to an inefficient allocation of resources by contradicting the rules of fair competition and by setting wrong incentives.
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How can a society become more prosperous? This question has been on the minds of economists and policymakers for centuries.
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During the past 18 months, Georgian consumers have been enjoying an unprecedented period of price stability. Ever since May 2011, when inflation peaked given the state of frenzy in the global commodity markets, inflation has literally come to a halt: since early 2012, monthly inflation rates are fluctuating around the zero trends.
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A long season of high-stakes elections in Georgia, Ukraine, and now the United States is finally over. Once the last campaign posters are taken down, we may as well start asking: now what?
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I am not addicted to TV but I found myself sitting in front of the TV almost 24 hours a day before the 2012 Georgian parliamentary elections.