ISET

On June 11, 2014, ISET hosted Douglas H. Brooks, the Assistant Chief Economist of the Asian Development Bank's Economics and Research Department. He presented Georgia’s main trade statistics and discussed the benefits to Georgia from global value added trade.

Georgia’s participation in international trade has continually increased over time. This could be a positive sign. The Asian Development Bank has estimated that Georgia’s trade openness contributes 2-3% to its economic growth. However, in 2009 there was drop in both import and export levels for two reasons: the Russia-Georgia war and the global recession. Dr. Brooks also pointed out that Georgia’s product baskets and trading partners are sufficiently diverse in contrast with its neighbors (for example, Azerbaijan, where trade is mainly based on oil and gas).

On May 29, Dr. Maksym Obrizan, from the Kyiv School of Economics, provided an interesting seminar on the subject of his working paper, "Retirement in HRS participants: the role of endogenous subjective and objective health measures".

The speaker began by introducing the essence of his research. Which factors affect the decision to retire? Existing studies identify factors such as health insurance, financial incentives and, perhaps most importantly, health conditions. However, such studies tend to ignore individual heterogeneity.

The ISET Policy Institute, together with the National Bank of Georgia and the National Statistics Office of Georgia (GeoStat) hosted a two-day conference on financial soundness indicators for Georgia with the financial support of the Asian Development Bank (ADB). The event took place on 12-13 June 2014 at the Hotel Radisson Blu Iveria in Tbilisi.

Financial soundness indicators (FSI) are statistical measures compiled to monitor the health and soundness of financial institutions and markets. FSIs include aggregated information on financial institutions and indicators that are representative of the markets in which financial institutions operate.

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