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Another perspective on whether to build a new city or not: in some papers land scarcity is seen as a factor that stimulates urbanization and industrialization.
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Georgia’s growth performance since independence has gone through extremes, from an unprecedented -44.9 percent in 1992 to 12.3 percent in 2007. Although growth rates temporarily fell in the aftermath of the Russian-Georgian war and the world financial crisis they have since then recovered to 7 percent in 2011
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This research paper by Tony Venables has some interesting implications for the South Caucasus.
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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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Another Friday – another post with interesting links on economics.