A few weeks ago, the Israeli ambassador His Excellency Yuval Fuchs delivered a speech at ISET, explaining the amazing transformation of Israel from what essentially was an agricultural state into what many economists call a knowledge economy. The ambassador reported that in his youth the foremost product Israel was known for were oranges. In the last thirty years, however, Israel created a high-tech sector that can compete (and in many aspects surpasses) the high-tech industries of the United States and Europe.

According to a rumor circulating among economists, there exists an econometric study that shows that the economy of a nation is doing worse the more great economists it produces. While this may be a myth, casual observation suggests that the correlation between the economic performance of a country and the quality of its economics profession is indeed unclear.

The objective of the project was to produce a pilot RIA on the draft Code on Spatial Planning and Construction in order for the regulators to make an informed decision.The project included a training phase to build the capacity of ISET Policy Institute (and two other Georgian organizations) to perform Regulatory Impact Assessment (RIA). The ISET-PI team performed a pilot RIA on the draft Spatial Planning and Construction code.

ISET is proud to announce that it has officially been accepted as a member of the International Chamber of Commerce of Georgia (ICC). In addition to ISET’s membership, Eric Livny, ISET’s Director, has been invited by the ICC Executive Board to establish and chair a new committee on economic policy at ICC.

When Ukrainian President Victor Yanukovich decided not to sign the association agreement with the European Union and instead opted for a Russian package of long-term economic support, many Ukrainians perceived this not to be a purely economic decision. Rather, they feared this to be a renunciation of Western cultural and political values, and – to put it mildly – were not happy about this development.