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ISET Economist Blog

A blog about economics in the South Caucasus.
Dec
25

Is Less, More? On “Usakhelauri” Wine

  This summer I bought a small piece of land (0.15ha) in the village of Okhureshi to grow a vineyard. About 700 “Usakhelauri” vine seedlings planted on that land in November this year will soon provide the most scarce and expensive grapes in Georgia. In just in a couple of years the vines will mature, and I will enjoy something as nice as the neighboring vineyard depicted in the photo. NO NAME… Usakhelauri is an ancient red-wine grape variety unique to Georgia. The grapes are cultivated in just a couple of villages in the Lechkhumi region (West Geor...
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Florian Biermann
Lets hope that somebody is willing to pay such extraordinarily high prices for the wine you grow!
Wednesday, 03 January 2018 3:03 PM
Guest — giaruouballantines
All my life I’ve avoided Europe and it’s multitudes of terribleness, but it turns out, much to my surprise there is actually one p... Read More
Tuesday, 13 November 2018 5:05 AM
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Oct
22

Back to the Future: Will an Old Farming Practice Provide a Market Niche for Georgian Farmers?

Back in ancient times, the moon was the center of everybody’s attention. People worshipped the moon and believed that it had mystical powers. Since then, the lunar effect on human mood and behavior has been an issue for psychological and astrological research. Surprisingly, many economic papers are also concerned about the influence of the lunar phases on stock returns. Yuan et al. (2006) found that stock returns (defined as the change in the value of a stock market index) are higher during the new moon period than during the full moon period. This ...
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Feb
15

Young Seedlings of Georgia's Agriculture

Ancient Greeks’ fascination with Georgia was not limited to the Golden Fleece. Legend has it that ‘Georgia’ comes from the Greek γεωργός (Georgios), reflecting the advanced land plowing practices of Georgian tribes, which distinguished them from their nomadic and yet unsettled neighbors. The Georgians (Colchians and Iberians, to be more precise) must have really made a formidable impression on the Argonauts to deserve such a recognition. Fast forward to the 21st century. According to the CIA World Factbook, Georgian agriculture employs a mind-blowingly h...
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Hans Gutbrod
interesting, thanks for sharing. I think the Internet makes it a bit easier for young people to stay out in the countryside, becau... Read More
Monday, 15 February 2016 4:04 PM
Lasha Lanchava
I was positively surprised when Baia mentioned 'nudge' – referring to Richard Thaler and Cass Sunstein’s New York Times bestseller... Read More
Tuesday, 16 February 2016 8:08 AM
Nana Moutafidou
Nice piece, thanks for sharing
Tuesday, 16 February 2016 8:08 AM
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Oct
03

Georgian Wine: Plan for the Worst, Hope for the Best

"You mean there's a catch?""Sure there's a catch", Doc Daneeka replied. "Catch-22. Anyone who [claims he is crazy because he] wants to get out of combat duty isn't really crazy."Joseph Heller, Catch 22 Пока гром не грянет, мужик не перекрестится.Русская народная пословица   The Georgian wine industry had a couple of very good years in 2013 and 2014, following the opening of the Russian market. Exports skyrocketed, prices of grapes followed suit. For all the talk about diversification, within just two years, Russia’s share in the total exports o...
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Eric Livny
Thanks, Simon, both for the compliments and the very useful comments and links!
Saturday, 03 October 2015 7:07 PM
Simon Appleby
Your article raises very interesting arguments, well done!Grape prices in Georgia in 2013/4 rtveli were higher than that of South ... Read More
Saturday, 03 October 2015 6:06 PM
Guest — BekaGonashvili
Subsidies are making even "lazy" Georgian Farmer's to be more lazy!Governmental subsidies should go Mostly in Marketing, Research,... Read More
Saturday, 03 October 2015 9:09 PM
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Oct
07

The Economic Potential of Georgian Wine

Winemaking is one of the oldest Georgian traditions that have survived to this day. Archaeologists have proved that the history of Georgian wine production reaches back into the past at least 8000 years. Arguably, this makes Georgia the earliest place on earth where wine was produced. And the tradition is alive – today there are not just big wine firms, but it is common among ordinary Georgians to grow grapes and produce their own, home-made wine. The great history of Georgian winemaking has been acknowledged internationally. Since July 2012, G...
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Guest — Eric Livny
A nice read. "Only the government could create a country brand, and this is something that should be seriously considered." This i... Read More
Tuesday, 07 October 2014 11:11 AM
Guest — Simon Appleby
In the southern hemisphere, State national wine promotion in many cases was superseded or supplemented by industry-based promotion... Read More
Tuesday, 07 October 2014 2:02 PM
Guest — Eric Livny
In Georgia's specific circumstances, there is another problem with both private and public funding to promote Georgia as a brand. ... Read More
Wednesday, 08 October 2014 4:04 AM
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May
24

The Georgian Wine Industry: Recent Past and the Way Forward

We are very happy to post the second part of  Jacques Fleury's commentary on the Georgian Wine Industry. In the first part, Jacques reflected on the experience of surviving the Russian embargo, on the one hand, and dealing with a series of heavy-handed and incompetent government interventions, on the other. In the second part of his comment Jacques proposes a new vision for the future of the Georgian wine industry, a future in which the government and the private sector work hand-in-hand to support small vine growers and promote Georgian wines to ne...
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Guest — Hvino News
For international readers interested in daily news updates on Georgian wine industry (in English), there is Hvino News web portal... Read More
Friday, 12 July 2013 9:09 AM
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