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The large economies have each, in sequence, offered "models" that once seemed attractive to others but that eventually gave way to disillusionment. Small countries may have some answers.
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A recent paper by Dani Rodrik has an interesting observation about Georgia. The paper itself estimates the productivity growth rates of manufacturing firms, based on a UNIDO dataset covering 72 countries.
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I have just heard that the French retail giant Carrefour is entering Georgia. This is good news. Carrefour is the master of combining low prices with high (or at least decent) quality.
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One of the current economic mysteries of the South Caucasus and the source of certain uneasiness on the part of world development organizations has been the significant rise in the recent years of the consumption to output ratio in Georgia.
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The very sharp seasonal fluctuations in the prices of many agricultural products in Georgia are indicative of the state of the Georgian agricultural sector. Agriculture provides a safety net for a very large number of jobless people who might otherwise be starving and thus serves a very important social function.