ISET

ISET Economist Blog

A blog about economics in the South Caucasus by ISET
May
08

Yet Another (Questionable) Farewell to Street Vendors?

  Tbilisi residents have already experienced a fair number of cycles in street vending regulations where local authorities tolerate, then regulate, and then evict street vendors. These cycles correspond with economic trends and election cycles starting in 2006, when street vending was declared illegal by the Tbilisi Government and the first attempts were made to enforce the ban. Just recently, the Tbilisi Mayor’s Office restarted its efforts to restrict trading in the streets of Tbilisi, claiming that illegal stalls in the busiest places prevent mov...
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Apr
17

How Businessmen Grow Wings

  Everybody knows Bakar and Tengo (BATE Generals), two businessmen from a very popular Georgian TV series, 'My wife's best friends' ('ჩემი ცოლის დაქალები'), who became incredibly rich from a start-up with a seemingly 'nonsense' idea to export the 'tails' of khinkali (traditional Georgian dumplings) to Bulgaria. Later on, BATE Generals created a special office for ideas, where their relatives and unemployed friends of their friends were solicited to generate promising business ideas. BATE Generals is paying a fixed amount to the idea generator and a ...
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Apr
01

What Does It Take to Become a “Vakeli“?

Vake has always been one of the most prestigious districts in Tbilisi and being a “Vakeli” has been associated with high social status for no obvious reasons. In the picture: Vake Park, one of a few green places in Tbilisi and thus a big asset for the Vake district. Maybe having an opportunity to walk every day in this park makes people living in Vake so special. The recent publication of the Real Estate Laboratory (REM Lab), a joint project of ISET, TBC Bank and JumpStart, reports a remarkable growth in the real estate market in 2016. The growth was obs...
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Mar
11

When Carrefour Corners Your Corner Store

In the last few decades, large supermarkets (referring to all modern retail, which includes chain stores of various formats such as hypermarkets, convenience and neighborhood stores) have changed the retail business landscape in many countries through larger store formats, more shelf space, an increased variety of goods and services, and extensive marketing strategies. The so-called “supermarket revolution” has been underway in developing countries since the early 1990s, and supermarkets have now gone well beyond their initial upper and middle class cust...
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Feb
25

Law Can’t Buy Me Love… To The National Currency

  Beginning in July 2017, if an entrepreneur offers and/or advertises a property and/or service for sale in the territory of Georgia, the price of the property/service shall be expressed solely in GEL. According to the bill, failure to abide by the new law when denominating the price will lead to a warning, while a repeated offense will lead to a penalty of 1000 GEL. Each subsequent offense will be subject to a penalty of 5000 GEL. BACKGROUND INFORMATION This law is one of a few changes which will take place in support of a de-dollarization plan imp...
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