Keynesian models deal with the situation when aggregate supply is not dependent on tax rates, while aggregate demand, especially the part of it that relates to consumption, is the function of taxes. Supply-side economics also considers only a single aspect of the tax issue in the Laffer Curve,...

The purpose of the study is to re-examine some aspects of the geopolitical-economic understanding of Central Eurasia through a descriptive approach, that is, irrespective of the interests that motivate the world and other countries in this region. It is extremely important for the region’s...

This article analyzes the comparative advantages of the Central Caucasian states. Keeping in mind the geopolitical and geo-economic factors influencing the states of the region, it identifies the comparative advantages of its countries in terms of potential, realized, and missed opportunities....

The paper deals with the design of the framework for the energy co-operation opportunities in the Caucasus, based on the paradigm of 'pipelines harmonization.' Azerbaijan has a clear comparative advantage. Because of the special geographic features of the Caucasus, the use of Azerbaijan’s...

The naturalness of the economic co-operation between Azerbaijan and Georgia has led to the formation of a so-called “Caucasian Tandem”. By holding common attitudes in many international projects, the countries of the “Caucasian Tandem” have paved the way for the development of a certain...

The article analyzes the experience Georgia and Russia have accumulated in their economic relations. The author draws attention to the fact that in spite of this flare-up in Russian-Georgian relations, trade and economic contacts between Russia and Georgia have never been interrupted. The...

This article reviews the first-generation post-Communist reforms of Georgia’s economy. It points out the mistakes made during the reform of post-Communist Georgia’s economy and identifies the reasons for the failure of Shock Therapy in post-Communist Georgia based on an analysis of the...

The article provides an evaluation of the early years of reform measured against a ‘standard” model of economic reform, an account of recent developments under a resumed and more purposeful programme of reform, and proposals for future action to invigorate the Georgian economy. The method of...

The article discuses Russia’s aggressive energy policy towards the EU and the former Soviet republics, with its main goal of reinforcing the country’s monopoly over the transportation of oil and, especially, gas to the West. The language of 'alternative pipelines' is used by Russia in the...

The Laffer Curve is the most evident illustration of the key postulations of the supply-side economics. Presently, almost all modern economics textbooks are evidently critical of the Laffer Curve. Despite this, there are a number of most recent works aimed at studying mathematical and empirical...