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What Happens When Institutions are Designed to Provide Bullet-proof Protection against Fraud?
26 March 2015

“Shock and awe” is a US military term describing the use of overwhelming power to demoralize the enemy, as applied by the American military in Iraq. “Shock and awe” would also aptly describe my emotional state when I entered, at the age of 23, the magnificent reading room at the Bodleian Library in Oxford. This was the moment when I – a former paratrooper and an officer with one of Israel’s security services – understood how badly I want to acquire an education. Not technical knowledge or skills, but an education.

How Persistent Is Social Capital?
23 March 2015

On Friday, March 20th, in the conference hall of ISET, Jan Fidrmuc from Brunel University gave a presentation titled "How Persistent Is Social Capital?”. At the beginning of the presentation, he has defined Social Capital (SK) as one of the factors of production which encourages cooperation and helps to overcome free-riding.

March 23, 2015 Kh-Index | Time to buy khachapuri, particularly if you earn in dollars!
23 March 2015

The average cost of cooking one standard Imeretian Khachapuri in February 2015 was 3.29 GEL, which is 3.4% lower month-on-month (m/m, that is compared to the previous month), and 4.8% lower year-on-year (y/y, that is compared to the same month of last year).

March 16, 2015 Kh-Index | Inflation not picking up, not yet at any rate
16 March 2015

In February, the average cost of cooking one standard Imeretian Khachapuri dropped to 3.29GEL, which is 3.4% lower month-on-month (compared to January 2015), and 4.8% lower year-on-year (compared to February 2014). At least as far as khachapuri ingredients are concerned, prices are going down, not up.

February 2015 Macro Review | Taking stock of 2013‐2014 economic developments in Georgia
13 March 2015

February is usually a good time to take stock of the country’s economic performance because at the beginning of the month statistical agencies release data on many baseline indicators for the previous year. Preliminary data reveals that the annual GDP growth rate in 2014 was 4.7%, which fell short of the 5% that had been expected.

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