Russia has certain economic leverage over Georgia, as last year Georgian exports to Russia accounted for around 15% of total exports by value. A disproportionate amount of Georgian exports to Russia are wine, brandy, foodstuffs,...
Georgia’s beauty and traditional hospitality make it a ‘natural-born’ touristic destination. Yet, without factories, it may be a country for very few Georgians. This is something our policymakers have to bear in mind when deciding...
Georgia’s current account balance turned positive in Q3 2018 for the first time in its modern history. This could be interpreted as evidence of greater self-sufficiency driven by improved (customs-free) access to European markets. But, upon...
Though greater exposure to global influences comes with uncertainty, Georgia should cherish and further develop its position as a ‘bridge’ between the larger networks of the East and West. Having its feet in different networks,...
“I refuse to join any club that would have me as a member,” Groucho Marx famously said. Indeed, people may be reluctant to join new ‘clubs’ that are yet to establish their reputation – be...
Adam Smith’s invisible hand is not always effective in dealing with complex coordination tasks, such as the restoration of Tskaltubo. Once a giant all-Soviet center of spa tourism, Tskaltubo did receive a lot of government...