ISET

ISET Economist Blog

A blog about economics in the South Caucasus by ISET
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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Apr
01

"Georgian Railways" Reach a Critical Crossroads

  By Eric Livny, Georgia Today’s special correspondent in Tehran River Astarachay, which divides the Azerbaijani and Iranian nations, is no Rubicon, and its crossing over a newly constructed bridge by an Azərbaycan Dəmir Yolları’s GE/LKZ TE33A Evolution locomotive was hardly noticed by Georgian media. Yet, the project has immense implications for the future of transportation across the Caucasus.  President Ilham Aliyev’s visit to Tehran on March 5, 2017 (his third visit to the Islamic Republic in just as many years) was timed to provide him and...
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Mar
27

In Georgia Education Matters (But Probably Will Not Make You Rich)

“Education is what remains after one has forgotten what one has learned in school” – Albert Einstein It is widely recognized that education is the key to the future. In general, educated people have higher earnings and lower unemployment rates and highly-educated countries grow faster and innovate more than the other countries. Therefore, in the recent economic literature, education is considered as an investment good and look for the other investments, there is the costs and benefits of the investments in the education. The cost of the education is the ...
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Mar
25

Beyond Political Slogans: Better Analysis for Better Labor Market Policies

The labor market is always a hot topic in our country, and debate about it usually overheats as elections approach. Referring to unsatisfactory labor market indicators is always a good way to emphasize the mistakes and/or the inertia of the ruling parties. Another common way to score points is making pre-election promises of increased future employment. One way or another, parties always promise and voters always believe their promises (including unrealistic ones). The only thing which does not seem to be affected is labor market, possibly because behind...
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Mar
20

Has The Orthodox Church Been Too Successful?

For a long time, it has been a taboo to criticize the Orthodox Church in Georgia. Quite recently, however, the clergymen themselves lifted this taboo by publicly carrying out their conflicts. The visit of Pope Francis in September 2016 sparked a plethora of mutual accusations. Archpriest Davit Isakadze was against the Pope’s visit and blamed the two other Archpriests Toedore Gignadze and Aleksandre Galdava for being sectarians and church enemies. These accusations were rebutted by Archpriests Levan Mateshvili and Ilia Chigladze, who called for protecting...
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Mar
18

Rising Generation of Georgian Agripreneurs

According to the ILO’s Global Employment Trends Report, agriculture accounts for 32% of total employment globally, and 39% in Asia and the Pacific. In spite of this, it seldom tops young people’s “most wanted” wish list of careers. In developed countries like Korea and Australia, employment in the agricultural sector is gaining more and more popularity, however, moving back to the countryside in developing nations remains associated with poverty, inefficiency and lack of progress. In Georgia, the majority of the population is employed in agriculture, but...
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