ISET Economist Blog

A blog about economics in the South Caucasus.
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COVID and the City – A Spatial Fracture in Georgia?
ISET-PI's Executive Director Lasha Labadze was invited by TV1 to speak about remittances, how its defined, who are the top remitting countries, and how remittances are used in Georgia and what is the role of remittances in Georgia’s economy.  In general, high remittances makes local currency stronger, decreases poverty, but it also signals the high unemployment and weak economy in the country. In 2015 Georgia received significantly lower remittances, but in the first 6 month of 2016 it stayed at the same level compared to the same period of previous year. Watch the video from TV 1 to learn more.
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To Prevent, to Repair, or to Start Over: Should Georgia Put ‘Maintenance’ Ahead of ‘Investment’ in Its Development Dictionary?
ISET’s Senior Researcher Maka Chitanava discussed the importance of a Regulatory Impact Assessment (RIA) for evidence-based policy making. RIA is a process of evidence-based policy making, which helps in complying with better regulation principles and designing better regulations. The role of an RIA is to provide a detailed and systematic appraisal of the potential impacts of a new regulation in order to assess whether the regulation is likely to achieve the desired objectives. Starting from 2017, the Parliament of Georgia intends to continue to work on RIA legislation. While talking with Maestro TV, Ms. Chitanava explained the necessary steps of implementing the RIA process, specifically when it should be carried out and what its benefits for society might be. In addition, she also reviewed RIA experience in Georgia. Watch the video from Maestro TV to learn more.
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Improving the Mix and Match in the Labor Market: Can Education Management Information Systems help?
Eka Zerekidze graduated from Georgian Technical University. She has been working in the IT field for more than 20 years. Eka joined ISET in 2007. She holds the position of an IT Manager. She is in charge of websites management, database management, and supervises learning management system MOODLE and other IT resources. Eka is extremely detail-oriented and meticulous. She is able to solve any problem related to IT, computers and websites. She also provides help desk and IT training to ISET staff and students.     {tab=Contact Details} (+995) 322 507 177 (ext. 108)  [email protected] {/tabs}
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Tbilisi: a Growing City with Growing Needs
Giorgi Mzhavanadze of MPRC discussed the lari’s depreciation in November 2016. He analyzed the recent comments of Prime Minister Giorgi Kvirikashvili on national currency dynamics against the US dollar. Positive dynamics in exports, money inflows, and tourism did not overbalance increasing imports in November. As a result, the Georgian lari depreciated against almost all currencies of its trading partners; the US dollar (-5% MoM), the euro (-2.8% MoM), the Russian ruble (-2% MoM) and the Armenian dram (-4.3%). The national currency strengthened only against the Azerbaijani manat (+1.6% MoM) and the Turkish lira (+1.6% MoM). The National Bank of Georgia did not intervene in the FX market in November. Watch the video from Maestro TV to learn more.
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The Inflation Targeting Framework of the National Bank of Georgia: Is It the Right Model?
ISET Policy Institute’s researcher Davit Keshelava was invited to appear on the Business Morning of TV 1 to talk about the methodology of the real GDP forecast proposed by the ISET Policy Institute and overview economic processes that played an important role in predicting recent real GDP growth. Davit pointed out that ISET-PI’s growth predictions are becoming increasingly accurate and in the previous year, the forecast error for the yearly real GDP growth was only 0.1 percentage points. Furthermore, he claimed that the optimistic forecast of July’s GDP growth can be explained by the increasing trend of Lari deposits, an expansionary monetary policy and the rising number of tourists visiting Georgia. In addition, Davit explained the main reasons behind Georgia’s reclassification from the lower middle income group to the upper middle group based on a recent publication of the World Bank. Watch the video from TV1 to learn more.