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ISET Economist Blog

A blog about economics in the South Caucasus.
Feb
06

Failure is Always an Option! Or is it?

“The type of failure we’re talking about is like how frogs lay 20,000 eggs so a few wind up as adults sitting on a lily pad sucking down mosquito dinners” is how the author of the recent Newsweek article describes the rate of failure it takes to breed a handful of unicorns-tech startups valued at more than $1 billion. Failure has increasingly become a chapter in success stories; stories which inspire a new generation of entrepreneurs to try, fail, try again, and succeed. Economics, as we have come to know it, is about efficient allocation of resources. R...
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Jan
23

A Case for an Antidumping Law in Georgia?

Protectionism and any kind of import restrictions have supporters in every country, and Georgia is no exception. Recently, I attended a lunch meeting on the need for an antidumping law, organized by Georgian Lawyers for Independent Professions, Governing for Growth (G4G), and the Society of Free Individuals. Participants from different sectors and institutions presented their views on the possible economic consequences of antidumping regulations currently being discussed by the Georgian government. From an economist’s perspective, I believe there are num...
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Recent Comments
Gigla Mikautadze
Eric, many thanks for your comments. I agree, that the declared goal of antidumping is to “protect” the local producers, but very ... Read More
Wednesday, 25 January 2017 2:02 PM
Eric Livny
The purpose of anti-dumping regulations is not only to serve some lobby groups, as claimed in this article. In Georgias specific c... Read More
Wednesday, 25 January 2017 7:07 AM
Eric Livny
It is not true that only permanent and targeted dumping can be harmful to domestic producers. Three-four months of dumping could ... Read More
Wednesday, 25 January 2017 3:03 PM
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Dec
17

Two Heads – One Public, One Private – Are Better Than One

Back in October 2015, a team of ISET researchers visited Charity House Catharsis to donate food on World Food Day, celebrated around the globe on October 16th. Catharsis was founded in 1990 and provides daily dinner to 310 elderly in need. Although the major function of the charity house is to provide food, Catharsis also offers other services like medical assistance, a relaxation room, chapel, rehabilitation hall, library and café. According to Elene Cucqiridze, one of the managers of Catharsis, the NGO a joint effort of government and the private secto...
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Dec
13

Is Georgia Heading towards an Oversupply of Hotels?

Citizens of Georgia’s capital recently witnessed the luxurious Biltmore Hotel Tbilisi grand opening. A $140 million investment by the Dhabi Group supplied the market with 214 luxury rooms and suits.  The $2 million opening, huge building and central location (right on Rustaveli Avenue) made the appearance of this hotel on the market very noticeable.  However, with much less lavish ceremonies, in total 37 hotels were opened in Georgia just this year, as reported by the Georgian National Tourism Agency (GNTA), which amounts to an additional 1,472...
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Eric Livny
By moving in different directions you have in mind greater local possibilities to travel (hiking, biking, jeeps, etc.)? I very mu... Read More
Tuesday, 13 December 2016 4:04 PM
Irakli Shalikashvili
Very interesting blog post about hospitality and supply of hotel rooms in Georgia. It is quite significant for Georgian economy th... Read More
Tuesday, 13 December 2016 2:02 PM
Guest — Mike
https://travelcar.am/rent-a-car-in-yerevan
Tuesday, 21 March 2017 12:12 PM
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Dec
03

The Textile Industry Stopping by in Georgia

My dad used to tell me stories about the exciting period when the Soviet Union’s economy started faltering and public resources were suddenly up for grabs in the chaos capitalism that emerged. While this period is usually associated with the appearance of crafty oligarchs, in Georgia also less wily businessmen could exploit the circumstances, among them many Turks. As the American journal The Tennessean wrote in 1977: “Soviet blue jeans may look like jeans, but that doesn't mean they are… One of the country's most exasperating problems is trying to satis...
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Irakli Shalikashvili
I also heard stories from my grandparents about the greatness of USSR, and they all were sad about the destruction of the system –... Read More
Tuesday, 13 December 2016 11:11 AM
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Nov
07

“Friendship Bridge” – For or Against Gravitation?

The official visit of the Armenian President last week was concluded by a splashy announcement that the building of the “Friendship Bridge,” a new infrastructure project approved by the Georgian and Armenian Governments in late 2014, will start construction in 2017, and will be completed in under two years. The Georgian Prime Minister and the Armenian President have reportedly discussed a range of other opportunities to deepen economic and trade relationship between the two countries and support business community engagement in this process. This excitem...
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