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Arbitrage? Not in Georgia!
29 March 2013

I have snapped the picture above in one of Tbilisi’s main streets. To the economist’s eye, however, this picture should be disturbing. While the general observer will see clean and wide sidewalks, beautiful classical-style buildings, and a single pedestrian in this early hour of the day, one also sees two adjacent currency exchange booths (Lombardi, as they are called here).

Different Capitalisms
27 March 2013

Those among our readers who happened to spend a good deal of their lifetimes in the Soviet Union may remember that there was not just one kind of socialism, but there were many different versions.

On Social Planning, Symphonies and Cacophonies
22 March 2013

An unprejudiced look at the Georgian economy is rather disenchanting. Starting in 1990 at a per capita income that was close to Poland’s, Georgia went into a free fall as a result of secession wars, loss of markets, an explosion of crime and corruption, and the staggering incompetency of its governments.

Regional Disparities in Georgia
21 March 2013

While there are differences between regions, most of the systematic regional disparities can be explained by differences in urbanization rates across the regions; namely, relatively more urbanized regions tend to have a higher per capita gross value added, a more diverse and sophisticated economic structure, and a better developed infrastructure.

Pennsylvania State University and Georgetown University Accept Two ISET Graduates into PhD Programs
19 March 2013

Each year, top ISET students receive promising offers to continue their education at some of the best universities in the world. Ala Avoyan, the valedictorian of the ISET 2012 class, is currently completing the first year of Ph.D. studies at New York University (NYU).

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