23
May
2014
The existence of a sizeable shadow (or second, informal) economy in the USSR was and is well-known. The Soviet era was characterized by a very rigid formal system with a high level of bureaucratization and inefficient planning. This resulted in many problems, both in terms of production and consumption. Soviet consumers experienced constant frustration and dissatisfaction caused by endlessly searching for goods and services they demanded, the need to queue for them without any guarantee of getting what they wanted, and the risk of having instead to accept a lower quality version or even to postpone (sometimes indefinitely) the purchase altogether (Kornai 1992).
22
May
2014
The subject of the debate concerned future steps to be taken in to ensure the growth of SME's in Georgia - significant part of the economy. The expert panel included speakers representing government, SMEs, financial system, academia, NGOs, businesses and business associations. The importance of SMEs for economic development cannot be understated: most successful large firms in developing countries have graduated up from SME category, whereas the breadth of the SME category itself reflects and helps to create a strong and deep entrepreneurial culture.
16
May
2014
In my essay on economic development (“What worked”, MESSENGER, July 3/2013) I cited the High-Level Panel of Eminent Persons on “A New Global Partnership” (UN Publications, 2013) that aims at eradicating absolute poverty and transforming national economies through sustainable development. Thus, in the chapter on “goals and global impact,” the Panel stresses that poverty must be reduced while mitigating global climate change and promoting a “low-carbon trajectory”.
01
May
2014
“Considering agricultural externalities in the measurement of farm performance: the Swiss case” was the title of a presentation given by Dr. Phatima Mamardashvili at ISET on April 29.
25
April
2014
These are Georgian churchkhela, a kind of national candy made from a string of walnut halves dipped in grape juice thickened with flour (Tatara or Phelamushi) and dried in the sun. There are essentially 2-3 kinds of Churchkhela. Somebody may be better in making them, somebody worse, but all in all, it is the same stuff sold all over Georgia.
