Does Productivity Increase with Farm Size?
18 September 2013

Ukraine’s agriculture started progressing after the land reforms of 2001, which established an effective land rental market. While the titles to land still belong to former kolkhoz and sovkhoz members, agricultural land can now be easily aggregated and leased to interested businesses.

The "Wizz Air Effect" or how Georgia Became Part of the Global Economy
15 July 2013

On Monday evening I am taking the express train from Tbilisi to Samtredia with my wife and two kids (business class, 120GEL). We plan to stay overnight in a little family hotel (40GEL), and at 6.30 am we’ll board the Wizz Air flight to Katowice, Poland, at the cost of €40 a person and €35 per suitcase (one way).

Georgia's National Competitiveness
01 July 2013

In the globalized world of today, increasing national competitiveness has become an important policy target for any country. While engaging in mutually beneficial trade, technological and cultural exchanges, countries find themselves in a race for scarce mobile resources such as financial capital and talent.

Georgia's Current Account Deficits: Good or Bad?
17 June 2013

There has been a lively debate on current account (CA) imbalances around the world. Georgia is not an exception with its politicians and economists often complaining about Georgia’s current account deficits (see Figure 1) and discussing potential ways of reducing or even eliminating them without actually reasoning why one should do so.

A New Competition Law for Georgia: Much Ado About Nothing?
31 May 2013

The mountain of promises to modify Georgia’s liberal labor code has recently produced a little mouse in the shape of a statement by Deputy Prime Minister Giorgi Margvelashvili who, according to, “branded the new labor code project a “dream of Rosa Luxemburg”.