Fraser Institute professor visits ISET, discusses Georgian economic progress
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On October 25th, ISET was visited by Dr. Robert A. Lawson of the Fraser Institute. In a highly entertaining and often humorous lecture, Dr. Lawson discussed a wide variety of topics, including the notion of economic freedom, research into economic liberty, as well as Georgian reforms since 2004 and recommendations for future development.
One of the most important aspects of Dr. Lawson’s presentation was the fact that Georgia, as a small country, is highly dependent on international trade for future growth. This is in contrast to the United States: as Dr. Lawson explained in a hypothetical scenario, if the US was to hypothetically abruptly cease all trade with other countries, it would still retain something of an economy, albeit one far reduced in size. This is simply due to the fact that the US has such a large population; small countries such as Georgia, meanwhile, would collapse without foreign trade partners. With this in mind, Dr. Lawson then discussed Georgia’s case specifically and attributed the country’s economic success over the last two decades to successfully deepening ties with other countries.
ISET Director speaks at the Knowledge Corridors' panel of the Silk Road Forum
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The biennial Tbilisi Silk Road Forum was held from October 22-23, an event of the utmost importance for Georgia’s economic development. With over 2,000 people in attendance, the Forum gathered together policymakers, businesses, community leaders and academics to discuss trade and connectivity, as well as examine the challenges facing countries along the New Silk Road.
Production networks, multinational corporations and their value chains have been expanding their presence across countries and regions, and governments are making efforts to enhance trade by lowering trade barriers and signing free trade agreements. Against this backdrop, achieving sustainable growth through technology and industrial and infrastructural upgrades remains critical to facilitating inclusive growth in the region.
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