Why do we care about competitiveness in energy markets? And, what are the benefits of increased competition from the supply side of the electricity market?
The main reason for the additional social surplus derives from increased energy consumption at lower prices. Increased competition in the electricity market is expected to translate into fewer market distortions – be they simply due to the abuse of market power or to the survival of inefficient firms – and, therefore, increased efficiency.
Increasing the level of competitiveness in the electricity mar...
ISET Economist Blog
A blog about economics in the South Caucasus.
Dec
28
Jul
02
“…….. Georgia clearly has potential. The country is small (5 million people), and horribly poor (even today, average income is below $4,000 per year). If Georgians could just become as rich as Croatia, they too could start beating England at Wembley.” – Simon Kuper and Stefan Szymanski, Soccernomics, (2006, p.287)
“Football was born in England, grew to Brazil and died in Georgia” – a well-known joke about Georgian football.
This summer, Russia is again at the epicenter of the world, but this time for hosting the 21st FIFA World Cup football tourna...
Nov
27
A pleasant surprise awaited me on my first day as a student of Tbilisi State University’s Business and Economics Faculty. Thanks to my performance on the national admission exam (ერთიანი ეროვნული გამოცდები), I was inducted into the so-called “Elite Group,” piloted by TSU in an effort to attract Georgia’s best and brightest. There were 50 of us in the group, mostly from working class families, and none felt like they belonged to any kind of “elite.”
In the end, I really enjoyed my “elite” status. Not because I could assert dominance over “mere mortals,” b...
Oct
09
Just recently, a rare occurrence made the headlines in Georgia: Moody’s Investors Service upgraded the government of Georgia’s local and foreign currency issuer ratings first time in seven years, to Ba2 from Ba3, with commentary that the outlook remains stable. This news was met with great excitement, but was soon overshadowed by the unfortunate news of Georgia’s downgrade on the Global Competitiveness Indicators, without fully appreciating or understanding the significance of the Moody's upgrade.
SO WHAT IS IT ALL ABOUT?
Moody's Investors Service provid...
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