EBRD presents its annual transition report at ISET
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On February 18, the European Bank for Reconstruction and Development’s (EBRD) lead economist for Central Asia and Georgia, Agris Preimanis, delivered two presentations at ISET titled: 1) “Oil-driven Russia downturn adds to weakness in EBRD economies” and 2) “Innovation in Transition”. In both presentations, Mr. Preimanis paid attention to Georgia and showed its standing in the midst of current global economic challenges.
In the first presentation, Dr. Preimanis explained Russia’s ongoing economic situation and outlook in 2015, which is not promising at all: there is a slowdown of growth (- 4.8%) and the collapsing of the Ruble (which lost almost half of its value in one year, January, 2014 / January, 2015).
Political Budget cycles and Civil Service in American State Governments
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On February 16th, ISET hosted David Bostashvili PhD. from the University of Houston. Dr. Bostashvili presented his job market paper: “Political Budget cycles and Civil Service in American State Governments”. The motivation for this paper was an observation that all levels of government tend to spend budgets right before elections. This phenomenon is known as the “political budget cycle”. Furthermore, evidence of the budget cycles is mostly studied in developing countries. There is a lack of study of this phenomenon in current literature from developed countries. Dr. Bostashvili used the establishment of civil service systems in the United States to study how it effects budget cycles.
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