GLOBAL VALUE CHAINS AND THE CHANGING NATURE OF COMPARATIVE ADVANTAGE
We live in the world where production of a single good typically involves manufacturing inputs from many different countries around the globe. For example, a typical iPhone production takes place in as many as 7 countries, including USA, Mongolia, Japan, Korea, Taiwan, China and even Switzerland. This is what is known to economists as global value chains (GVC). The emergence of GVC more than two decades ago transformed the way economists think about countries’ comparative advanta...
ISET Economist Blog
A blog about economics in the South Caucasus.
Mar
17
Feb
10
Back in 2005, as there was no mobile coverage, my uncle drove dozens of kilometers to the Jvarboseli village in Tusheti to inform me that I had enrolled in university. Now, in 2020, there is still no mobile signal in most Tusheti villages, including Jvarboseli, however people can use broadband internet to reach out the world!
Previously known only for its sheep farming and tasty Guda cheese, today Tusheti is also a famous touristic destination; while being home to one of the largest protected areas in Europe, covering three types of IUCN protected...
Dec
03
Mountains cover 54% of Georgia’s territory. People living in those areas represent the most vulnerable group of Georgian society. Land erosion and climate change are prevalent in the mountains; unsustainable use of natural resources (forests in particular) and limited access to infrastructure pose significant risks to the lives of people there.
In order to ensure the inclusive and sustainable development of the mountainous regions, the Georgian Government adopted the Law on the Development of Mountainous Regions in 2015. A bit later, in 2018, the ...
Dec
23
2017 is shaping up as one of the best years in Georgia’s post-2008 crisis history. The economy is expected to expand by about 5%, beating early expectations and official forecasts by the likes of the IMF and the World Bank. Based on updated GeoStat figures for Q1 and Q2, ISET-PI’s annual growth forecast currently stands at 4.9%. Even that figure is likely to be revised upwards if Q3 growth turns out to be higher than suggested by GeoStat’s preliminary estimate of 4.4%.
Georgia is not alone in experiencing a boom. In fact, it is rising with a tide ...
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Why is the vocational education reform discussed in the context of redistribution? And even a pension reform is not inherently con... Read More
Wednesday, 03 January 2018 5:05 PM
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