This paper estimates the effectiveness of government support to the private sector during the COVID-19 pandemic in El Salvador and Georgia using firm-level data collected before and during the pandemic. The two countries are selected because eligibility criteria for support involved pre-pandemic...

This study empirically investigated the factors affecting firms' ability to adjust production in response to the COVID-19 outbreak. This study used firm-level survey data from the Enterprise Survey implemented by the World Bank Group, including a standard Enterprise Survey (Baseline) and two...

This paper aims to empirically examine the drivers of the bilateral balance of the trade model for the Georgian-Chinese economy from 2000 to 2020 and the influence of the Georgia-China free trade agreement on the Georgian-Chinese balance of trade. The Error Correction Model (ECM) of the ARDL was...

Consumers often struggle to grasp complicated pricing plans, including increasing block rate (IBR) schemes, which have been used for decades by utilities in many parts of the world. The assumption that they encourage conservation has, however, recently been challenged (Ito, 2014). We take...

The floating exchange rate is an important part of Georgia's monetary policy and during the pandemic it looks like to be the only way out of the country's economic crisis. Even though this seems to be true (especially when considering that Georgia has 24 years of experience with a floating...

Georgia's railway network is a key segment of the TRACECA, the shortest route from the Caspian Sea and Central Asia to the Black Sea and the Mediterranean Basin. Georgian Railway Corridor has a number of advantages over pipeline, alternative railways and auto transport. Changing the quality of...

This study examines economic activity measured with firm performance indicators using the changes in intensity of night-time light in four CAREC economies: Azerbaijan, Georgia, Kazakhstan, and Mongolia. The empirical analysis is based on the World Bank Enterprise Survey (WBES) data for 2019 and...

This paper estimates the effectiveness of government support to the private sector during the COVID-19 pandemic in El Salvador and Georgia using firm-level data collected before and during the pandemic. The two countries are selected because eligibility criteria for support involved pre-pandemic...

The attention to the phenomenon of social entrepreneurship has been especially enhanced during the current turbulent times, as social enterprises have a key role to play in solving social problems caused by the pandemic. Currently, social entrepreneurship is still an undeveloped area in Georgia,...

The functioning of the commercial banking system plays an important role in the development of the state under the transformed economy. Also, the economic growth rate of the country stands for the stability of the banking sector. The problems of commercial banks and other subjects of financial...

The paper discusses Georgia's transit potential as a regional development actor and Georgia as a transit hub. The focus of the research is on the functioning of transit flows and logistics infrastructure as an attractive determinant of foreign investment. It also analyzes the financial and...

The paper studies pension reform in Georgia which has been going on since the 1990s, evolving over time and taking a modern look. The axiom is that the pension system in our country needed to be upgraded. The discussion on the current issue has been going on for a long time and the topic does...

Consumers often struggle to grasp complicated pricing plans, including increasing block rate (IBR) schemes, which have been used for decades by utilities in many parts of the world. The assumption that they encourage conservation has, however, recently been challenged (Ito, 2014). We take...

We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and...

This paper assesses labor market segmentation across formal and informal salaried jobs and self-employment in three Latin American and three transition countries. It looks separately at the markets for skilled and unskilled labor, inquiring if segmentation is an exclusive feature of the latter....

Among the many problems caused by the coronomic crisis is the quick and substantial growth of the public debts of states. This problem is pressing for Georgia as well. In order to overcome the problems caused by the COVID-19 pandemic, the Government of Georgia managed to attract external debt...

The new coronavirus has turned out to be an unprecedented and unexpected crisis which has led to rethinking healthcare, public safety and socio-economic policies. Severe problems have manifested themselves in these areas in Georgia, a developing country with below average income levels and high...

‘State of the Bay’ is an initiative of the Georgian Bay Biosphere Reserve (GBBR) which has forecast that water temperatures in Georgian Bay Ontario “are warming” and could rise by “10°C this century within coastal ecosystems”, and warns of “catastrophic events”. These claims are...

In the period of macroeconomic crisis in Georgia between 1991 and 1994 the combination of hyperinflation, catastrophic output drop and weak governance, have led to a sharp rise in inequality among households. Sharp inequities have arisen not only between households, but also between regions....

The labor market is the main channel through which economic growth affects poverty. This paper is the first empirical account of main channels through which the growth in transition period has affected labor market and living standards in Georgia. It is based on both the official aggregate...

This paper anlayzes the Georgian hyperinflation of 1993-94, which featured endogenous fiscal expenditures and the money supply, depreciation, and currency substitution. Hyperinflation was stopped by removing generalized consumer subsidies and tightening of monetary policy, and not by a sudden...

In terms of the efficiency of monetary policy and economic stability, de-dollarization and its analysis, its impact on the economy is a topical issue. The purpose of this paper is to describe the dollarization and de-dollarization process, which reflected in the economic and economic processes....

The current situation in the world has inverted the perspective, showing us that the coronavirus and its global spread are already causing a widespread economic crisis. Today the economy is a hostage to medicine. The spread of the coronavirus has given rise to ideas that oppose free trade...

Georgia has made remarkable progress in terms of economic growth and poverty alleviation. In 2019, the country became an upper middle-income country Georgia's endowment of natural resources is a significant source of national wealth and has the potential for accelerating inclusive socio-economic...

Small and medium-sized enterprises (SMEs) play an important role in the development of the economy and contribute significantly to ensure sustainability, economic growth and wealth of nation. A strong and well-developed SME sector contributes significantly to innovation, exports and the creation...

On September 1, 2014, Georgia enacted a one-time, immediate policy shifting public office working hours from 10:00-19:00 to 9:00-18:00 and affected the work schedules of all subjected employees. Due to professional scheduling conflicts faced by women with household responsibilities, some members...

The paper analyzes inflation targeting which is used in many countries as a tool for the monetary policy of central banks. The study of the experience of inflation targeting over the past quarter century shows a number of shortcomings. The important one is that inflation targeting is powerless...

In recent years, Georgia has undergone important economic, social and political transformations. Given the significant emigration of the Georgian population and the recognition of the contributions of the diaspora, Georgian authorities are seeking to better understand this pool of talent...

From the erosion of state legitimacy in Lebanon to the use of smartphones in Kyrgyzstan, from a Polish suburb to the music scene in Azerbaijan, this volume attempts to explain why, in a variety of world regions, a substantial number of people tend to ignore or act against state rules. We propose...

The aim of this chapter is to investigate consumer protection regulations and enforcement in Georgia. The chapter begins by presenting the legal framework for consumer protection and the general design of enforcement mechanisms. The second part of this chapter focuses on the number and...

This pilot report analyses Georgia’s anti-corruption framework and practices based on the criteria to test the new methodology for the 5th round of monitoring under the Istanbul Anti-Corruption Action Plan. The report examines Georgia’s National Anti-Corruption Strategy, reforms of the...