According to the Law of Georgia on Medical Activity[1], postgraduate medical education can take place only in accredited institutions and/or medical schools from March 2009 onwards. This seems to be a good initiative. Presumably, the goals of this law were to promote higher quality education for future doctors in the country and to deliver higher quality healthcare to the population of Georgia. These are relevant goals, of course, as the life of a human being in terms of both length and quality is and should be the most serious concern for every country....
ISET Economist Blog
A blog about economics in the South Caucasus.
Feb
01
Jan
31
Can Georgia stimulate investment in electricity intensive sectors by providing cheap electricity? To answer this question one has to first analyse the behavior of the wholesale electricity market during the past 3 years.
According to the order of the Georgian Ministry of Energy on the “Electricity (Capacity) Market Rules”, a “Direct Customer” (or one who buys electricity wholesale) is someone who, for their own needs, consumes 7 million kWh of electricity per year (As this amount is approved with basic directions of the state policy in the Energy Sector)...
Jan
29
According to data provided by the Food and Agriculture Organization of the United Nations (FAO), in the last five years there were two hikes in global food prices. The first hike was in 2008, when the global food price index reached 224.4 points (up by 46% in year-on-year terms). The second wave started in late 2010, reaching a peak in February 2011 (237.9 points).
More recently, the FAO Food Price Index averaged 209.3 points in December 2012, down 2.4 points (1.1%) from November. The downward movement was mostly driven by decreasing cereals p...
Jan
25
Georgia is among a few countries in the world that does not have a deposit insurance system in place. Does the country need to have such a system? Or is deposit insurance likely to do more harm then good? The answer is not as clear-cut as it may seem.
Deposit insurance is a relatively new phenomenon in international banking. For example, in 1974 only 12 countries had explicit deposit insurance schemes, while in 2003 the number already rose to 87. United States was one of the first countries in the world to establish such as scheme. The Federal Deposit In...
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