ISET Economist Blog

22 February 2016

Eric Livny

A Georgian Man without Land Is Nobody?

Just like Duddy Kravitz, Georgian men (and women) appear to be reluctant to part with their parcels of land, however small and unproductive. Whatever the reason, Georgia sees almost no structural change out of agriculture, and, as a result, very low productivity and income growth for the poorest strata of its population. As of today, employment (or, rather, under-employment) in agriculture is a staggering 45% of Georgia’s total labor force.

20 February 2016

Olga Azhgibetseva, Yaroslava Babych

Did Azerbaijan Enter the Post-Oil Era?

Sometimes, transformation requires a crisis. Economists in particular are very well aware of this maxim. We are reminded of it every time a country undergoes an economic shock. A country in those times is a bit like a patient who gets the last warning from a doctor to drop the unhealthy habits or face irreversible consequences.

15 February 2016

Lasha Lanchava, Nino Zambakhidze, Eric Livny

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 recognition.

14 February 2016

Florian Biermann

Europe’s Dramatic Monetary Failure

This week, another crazy idea haunted economically faltering Europe. According to the plans of European politicians, the 500 euro note will disappear and cash payments above 5,000 euro will be made illegal. Officially a measure against money laundering, the pretext was correctly debunked by Hans-Werner Sinn in the Frankfurter Allgemeine Zeitung: the true reason for this step is to push interest rates further down.

08 February 2016

Maya Grigolia, Eric Livny

Estonia Inspiring Georgian Reformers

There is a lot of affinity among Estonia and Georgia, two tiny nations for centuries caught between the Russian rock and the German or Ottoman/Persian hard place. Common fate may be, indeed, the reason for Georgia’s topping the list of Estonian development cooperation priorities. Georgia is the largest recipient of Estonia’s bilateral aid, most of which is about sharing the Estonian experience of establishing itself as a new European democracy and a unique place to do business.

06 February 2016

Nino Doghonadze, Yaroslava Babych

Decent Income in Old Age: Georgian Dream or Reality?

If you visit any post-Soviet country after spending some time in the West, one thing strikes you immediately: the average age of visible poverty. Not only are you more likely to see old people begging on the streets, but old people are also dressed more poorly, and tend to buy the cheapest things on the market.

ISET Economist Blog

A blog about economics in the South Caucasus financed within the institutional grant by the Government of Sweden.