Look at the ENTSO-E grid map for Europe and you'll see an oddity. Turkey and Armenia, which have tense relations and a closed off border, apparently share an electricity interconnector. This means that their electricity grids are physically connected, and they can theoretically import and export electricity. How is this happening? Has the need for … Continue reading Armenia’s forgotten interconnector
Thoughts on the Israeli economy 7/7
I've been publishing a note on this every week, and it's about time I wrap it up. So, here are my overall thoughts. Israel, with a low starting resource base, and significant influx of strong human capital, has historically focused on drivers of economic development that made best use of its situation. These included innovative … Continue reading Thoughts on the Israeli economy 7/7
Thoughts on the Israeli economy 6/7
Gas sector? Note: this was written in 2015 What is currently not a driver of the Israeli economy is export-based trade of natural resources. Historically, given its small size and not ideal location, Israel was not been blessed with raw materials or naturally occurring resources in abundance. However, this is potentially about to change, with … Continue reading Thoughts on the Israeli economy 6/7
Thoughts on the Israeli economy 5/7
TOURISM Tourism is not one of the main pillars upon which Israel’s economy rests, but a notable part of it nonetheless. It is a country with multiple religious, natural and cultural attractions concentrated in a relatively small area with high levels of infrastructure, all of which make it a popular destination. What makes it so … Continue reading Thoughts on the Israeli economy 5/7
Thoughts on the Israeli economy 4/7
HIGH TECH AND INNOVATIVE SECTORS The high-tech industry that has come to play such a central role in the progression of the Israeli economy must first be defined. A high-tech business can broadly be defined as one that relies quite heavily on innovation in science and technology. Chorev and Anderson say: “The characteristics of high-tech … Continue reading Thoughts on the Israeli economy 4/7
Thoughts on the Israeli economy 3/7
DIRECT EXTERNAL AID A controversial subject that helps to explain the Israeli economy is the substantial amount of foreign aid received by the state. In fact, according to the OECD Observer, 2% of Israel’s GDP comes from foreign largesse, an abnormally high proportion for a more economically developed country. More than a fifth of the … Continue reading Thoughts on the Israeli economy 3/7
Thoughts on the Israeli economy 2/7
BRAIN DRAIN OR BRAIN GAIN? “When you go to the Middle East looking for oil, you don’t need to stop in Israel. But if you go looking for brains, for energy, for integrity, It’s the only stop you need to make” - Warren Buffett For decades following on from the Second World War, Jews from … Continue reading Thoughts on the Israeli economy 2/7
Thoughts on the Israeli economy 1/7
Israel has not historically had a large resource base, and has instead focused on technology, research, services and tourism, and associated sectors for development. Additionally, there have been external influences to Israel’s development - immigration and direct external aid. It is difficult to correlate different factors of development with how sectors ‘drive’ the economy, but … Continue reading Thoughts on the Israeli economy 1/7
