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ISET Economist Blog

A blog about economics in the South Caucasus.
Feb
13

Use of Consumer Confidence Index

The Consumer Confidence Index (CCI) attempts to capture the expectations of consumers about the future development of the economy.  According to economic theory, optimistic consumers are willing to spend more money and reduce their savings, while pessimistic consumers do the opposite. This is consistent with the intuition that consumption activity and saving behavior are driven by the expectations of the future. Beyond that, the CCI can be a powerful indicator of the well-being of the economy. WHY? If indeed the consumption behavior is driven b...
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Feb
01

Rethinking Medical Residency Programs in Georgia

According to the Law of Georgia on Medical Activity[1], postgraduate medical education can take place only in accredited institutions and/or medical schools from March 2009 onwards. This seems to be a good initiative. Presumably, the goals of this law were to promote higher quality education for future doctors in the country and to deliver higher quality healthcare to the population of Georgia. These are relevant goals, of course, as the life of a human being in terms of both length and quality is and should be the most serious concern for every country....
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Guest — Lasha
Yap, Regulators are those Guys, who know how to make decision about quality/quantity
Saturday, 02 February 2013 2:02 PM
Guest — Nino
I think I understood your point, Lasha Nevertheless, I would love to believe badly that to some extent these decisions will serve ... Read More
Sunday, 03 February 2013 11:11 AM
Guest — Lasha
I would love to believe that you can believe something more creative If you have time have a look at works of Stigler, Petztzman,... Read More
Monday, 04 February 2013 2:02 AM
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Dec
22

Money Can Buy Me Love, In The Caucasus

This blog post is a sequel to “Price of a Woman: Economic Rationale behind Marriage Payments in Georgia”. I recently found very interesting data about bride prices in the Georgian highlands and the North Caucasus, which I am now going to share with you. Payment to a bride's parents was widespread in the Georgian highlands and the North Caucasus. This custom was rooted in local traditions and everyone obeyed it. Bride prices were either paid in money or its equivalent in livestock, most commonly in oxen. The price would vary according to the social standi...
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Guest — Florian
In Georgia the market mechanism seems to work. At least in the highlands, the market reacted to the shortage of women by implement... Read More
Thursday, 27 December 2012 12:12 PM
Guest — William Ellis
Thank you for this post and your interesting blog.I've recently had experience of bride prices. I've been involved with a charity ... Read More
Saturday, 29 December 2012 5:05 PM
Guest — Maka
Dear William and Florian,Thank you for your interesting [email protected] : Related to Romanism. I believe Romantism was involved... Read More
Sunday, 20 January 2013 5:05 PM
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Nov
28

Young Females in Powerful Positions on Georgian Facebook

If you follow modern Georgian electronic media, you have definitely noticed a strange tendency of publishing news pieces based on people’s posts and status updates on Facebook. Besides Georgian journalists’ determination to free ride, this points to the fact that Facebook has become an important platform to express one’s opinion on political and social issues. In fact, a recent Pew Internet & American Life Project study finds that 37% of electronic social network users post political material at least occasionally and that 75% of social networking si...
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Guest — stardust
Cherchez la femme...
Thursday, 29 November 2012 5:05 AM
Guest — Giorgi Mekerishvili
Interesting observations. I would summarize the conclusion in the following way: young females are active and influential on Faceb... Read More
Thursday, 29 November 2012 12:12 PM
Guest — Zak
Indeed that is the correct interpretation, Giorgi. Unfortunately we could not answer the relevant questions that you are raising i... Read More
Thursday, 29 November 2012 1:01 PM
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Nov
26

Agricultural Productivity in Georgia and Armenia, a Sequel

In his blog post “The puzzle of agricultural productivity in Georgia and Armenia” , Adam Pellillo raises the following question:  Georgia seems to be the only former Soviet republic in which agricultural productivity hasn’t returned to or exceeded its level in 1992. As of 2010, agricultural productivity stood at only 77 percent of where it was at nearly two decades ago. Why hasn’t agricultural productivity improved in Georgia over the past two decades, while it has at least recovered in every other former Soviet republic? It is even more p...
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Guest — Giorgi
My father has a farm service center and mechanization service center in Shida Kartli Region (Kaspi District). He provides agricult... Read More
Monday, 26 November 2012 3:03 PM
Guest — Simon Appleby
It is worth looking at houshold incomes in Marneuli also, a district with an Azeri-majority population.
Monday, 26 November 2012 6:06 PM
Guest — Eric
Seems like Kvemo Kartli to which Marneuli belongs is quite low on income per household. Local households report a very high portio... Read More
Monday, 26 November 2012 8:08 PM
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Aug
22

Price Of a Woman: Economic Rationale Behind Marriage Payments in Georgia

We economists tend to search for economics behind everything. It's as if it is some kind of disease, for which there is no cure. I admit, I myself suffer from it. Last weekend I visited Shatili, a historic highland village in Georgia located near the border with Chechnya. This unique fortress built with stone and mortar, isolated from the rest of the world makes you think about your ancestors. Our guide told us many interesting facts about people from the highlands, and one of them attracted my attention very much. Particularity the existence of “Urvadi”...
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Guest — G.T.
Very nice and interesting topic discussed in an interesting way. I just want to express my opinion about the Bride Price and Dowry... Read More
Thursday, 23 August 2012 5:05 PM
Guest — Maka
G.T. Thank you for your comment. I agree with you that nowadays couples themselves possess and have official right on their prope... Read More
Friday, 24 August 2012 12:12 PM
Guest — Eric
A great, mind-boggling post…It could be about population density but not for the reason stated in Maka’s post. In a sparsely popul... Read More
Saturday, 25 August 2012 12:12 AM
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