A country without oil needs smart people! This clearly applies to Georgia. Not endowed with substantial amounts of natural resources, Georgia totally depends on its human resources. Yet how good is the intellectual equipment of the Georgians that is so urgently required for driving the economic development of this country?
When it comes to applied knowledge that can directly be utilized for economic activities, the picture is rather disenchanting. According to UNDP data, 81% of Georgian unemployed completed secondary or higher education. Yet as we wrote ...
ISET Economist Blog
A blog about economics in the South Caucasus.
May
13
Apr
23
There is no arguing that during the ten years since the Rose Revolution, the Georgian economy registered an impressive growth performance, averaging 6.6% per annum. Summing up Georgia’s post-2004 growth experience, a recent ISET-PI study (Babych and Fuenfzig (2012)), finds it “remarkable not only in light of the 5.3 percent average growth rate in the 1995-2002 period, but also considering that the average GDP growth rate for European and Central Asian developing countries was about 5.1 percent in the period between 2003-2010.”
Yet behind the gliste...
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