On March 30-31 ISET-PI team took part in an interim research workshop conducted within the framework of a multi-country study “Good Jobs for Inclusive Growth in Central and West Asia” organized and financed by the Asian Development Bank. The goal of the study is to inform policy decisions aimed at promoting inclusive growth and reducing poverty and inequality in the countries of Central and West Asia (Armenia, Georgia, Azerbaijan, as well as Uzbekistan, Kazakhstan, Turkmenistan, Kyrgyzstan).

On Tuesday, March 29 ISET and the Asian Development Bank co-organized a seminar on Inclusive Economic Growth in Georgia. The event was part of a joint project of ISET and ADB, Good Jobs for Inclusive Growth, aimed at creating conditions to enable inclusive economic growth in developing countries. In addition to focusing on inequality in income and opportunities, the seminar examined the issue of social protection and the development of institutions.

Once the wealthiest Soviet republic, Georgia has since fallen far behind other post-Soviet states (except for, perhaps, Tajikistan, Kyrgyzstan and Moldova) in almost any parameter of wellbeing. Adjusted for purchasing power parity, Georgia’s annual income per capita in 2012 was close to $5,900 (a little higher than in resources-poor Armenia).

On November 18th, ISET hosted Principle Economist of Asian Development Bank, Dr. Donghyun Park, who gave a presentation on Inequality, Inclusive Growth, and Fiscal Policy in Asia.

It is easy to understand what it means for an economy to be weak or strong. We know that a strong economy is characterized by low unemployment and high growth rates. Other desirable traits are, for example, low levels of poverty and income inequality, when all citizens enjoy reasonable standards of living.