A question of causality: Does modernization of agriculture lead to economic growth or does growth induce a modernization of the agricultural sector? For many years, this question has been hotly debated among development economists. While those economists who believe in growth-led agriculture (GLA) were dominating until recently, now the proponents of agriculture-led growth (ALG) are afloat again. Which insights does this debate yield for Georgia?

The International School of Economics in Tbilisi (ISET), in cooperation with TBC Bank, invites applications for participation in the 2016/2017 “Executive Leadership” program, designed for entrepreneurs and business executives who strive to take their careers to the next level.

In what has been a decidedly international few months for ISET with recent visits to Japan, Norway, and India (as well as a trip to Uzbekistan in late October), yet another member of the institute's faculty has traveled abroad, this time to Germany.

Facilitating cooperation among Georgia’s smallholders is one of the main focuses of the ENPARD project, of which ISET is a (small) part. ENPARD has been active in Georgia since 2013, and its work has been extensive and its efforts invaluable. An evaluation effort coordinated by the ISET Policy Institute has uncovered some interesting facts and figures from the comparative analysis between 2014 and 2015.

Forecasters, professionals and amateurs alike, all got it wrong. The Brexit came as a surprise because the bookmakers (people who organize bets on developments in politics, economics, and sports) reported that about three times more money was put on the event that Britain would stay in the EU than on its alternative. With poll results being inconclusive in the weeks before the referendum, this led many pundits to believe that Britain would stay in the EU.