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ISET Economist Blog

A blog about economics in the South Caucasus financed within the institutional grant by the Government of Sweden.
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Author
  • Eka Nozadze
  • Nutsa Bazlidze
  • Archil Chapichadze
  • Giorgi Bakradze
  • Mery Julakidze
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  • Ia Vardishvili
  • Robizon Khubulashvili
  • Adam Pellillo
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  • Maya Grigolia
  • Lasha Lanchava
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  • Mariam Zaldastanishvili
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  • Ivane Pirveli
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  • Florian Biermann
  • Irakli Shalikashvili
  • Olga Azhgibetseva
  • Phatima Mamardashvili
  • Eric Livny
  • David Zhorzholiani
  • Nino Kakulia
  • Laura Manukyan
  • Irakli Barbakadze
  • Lika Goderdzishvili
  • Selam Petersson
  • Sophiko Skhirtladze
  • Irakli Kochlamazashvili
  • Levan Pavlenishvili
  • Gocha Kardava
  • Rati Porchkhidze
  • Lasha Labadze
  • Muhammad Asali
  • Karine Torosyan
  • Levan Tevdoradze
  • Mariam Katsadze
  • Ana Burduli
  • Davit Keshelava
  • Giorgi Mzhavanadze
  • Elene Seturidze
  • Tamta Maridashvili
  • Mariam Tsulukidze
  • Erekle Shubitidze
  • Guram Lobzhanidze
  • Mariam Lobjanidze
  • Mariam Chachava
  • Maka Chitanava
  • Salome Deisadze
  • Ia Katsia
  • Salome Gelashvili
  • Tamar Sulukhia
  • Norberto Pignatti
  • Giorgi Papava
  • Luc Leruth
  • Yaroslava Babych
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The Inflation Targeting Framework of the National Bank of Georgia: Is It the Right Model?
As the Georgian Lari (GEL) briefly depreciated in September 2020, the National Bank of Georgia (NBG) once again became the subject of criticism for not being able to stabilize the exchange rate even though it had injected 120 million US$ into the economy. At a press conference (2020/09/16), the President of the NBG objected that the aim of the injection of US$ was not to strengthen the GEL since the NBG operated under a floating exchange rate policy. Rather, he went on to explain, the NBG’s constitutional duty was to ensure price stability on the basis of an inflation-targeting framework.
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Mortgage Subsidy – Encouraging Borrowing in the Midst of a Crisis
On 28 May, Georgia announced its fourth anti-crisis plan, in which the government will subsidize 4 percent of the interest rate of mortgage loans for five years. The subsidy will be issued for loans not exceeding 200,000 GEL and will only apply to those taking mortgages for the purchase of residential apartments that are newly built or under construction, from 1 June 2020 to 1 January 2021. The state will also ensure the completion of ongoing construction.
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Could the Government Act as Coordinator?
In Avchala, in the middle of nowhere, you might be surprised to find the busy “Craftsmen’s City” or “Khelosnebis Kalaki” as it is called in Georgian. It is built on a 4-ha plot where there used to be a large carpet manufacturing plant in Soviet times, which vanished with the Soviet Union and turned into a concrete carcass surrounded by a swamp.
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Should the World Sacrifice the Economy to Save Lives Today?
No two countries that both have a McDonald's have ever been at war wrote American political commentator and author Thomas L. Friedman in 1996. Since then, of course, there have been plenty of instances of countries with McDonald’s warring, including Russia and Georgia. Though, one should not take Friedman’s phrase too literally. Rather he implies that the spread of McDonald's is a part of a worldwide phenomenon of countries integrating with the global economy, which, in turn, makes wars less likely.
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Belarusian Path to Transition: Lessons for Georgia?
“The lobby of the Metropole, Moscow's lovingly restored grand hotel a few blocks from Red Square, is almost deserted on this gray spring afternoon. That's just fine with Jeffrey D. Sachs, a boyish-looking 38-year-old Harvard professor who is now probably the most important economist in the world. He has appropriated a cluster of comfortable armchairs for a meeting with two members of his team, Americans who work full time in Russia. The agenda is Russia's safety net or, more precisely, whether unemployed workers will be able to make ends meet.
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The Paths Towards Inclusive Economic Growth in Georgia
The economic policies of successive Georgian governments have arguably lacked cohesive direction when it comes to inclusive growth. There still remains an open question of whether the overall goal has been to pull people from agriculture or to leave them where they are while pushing productivity up via, for instance, funding the development of cooperatives or clusters. Concurrently, the state also has introduced industrial policies, like establishing SME support agencies that operate under the auspices of different ministries.
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