21
March
2017
On Thursday, March 21, ISET hosted the Governor of the National Bank of Georgia (NBG), Mr. Koba Gvenetadze, who delivered a profoundly informative lecture to the ISET Community. Mr. Gvenetadze covered important aspects of long-term development challenges facing the Georgian economy based on the accumulated experience of past development in the country.
04
February
2017
Unofficial (partial) dollarization describes a situation when a foreign currency is used alongside the domestic currency for transactions purposes and as a store value. High partial dollarization is not good for a country, as it ties the hands of its Central Bank when it wants to use monetary policy. In a highly dollarized economy, national currency depreciation can even lead to financial instability.
14
January
2017
Between 1990 and 1994, the Georgian economy experienced one of the sharpest declines in economic activity in recent history, with GDP per capita falling by more than 70 percent. Since then, however, especially after 2003, it has been growing quite fast, with the Georgian GDP per capita overtaking the 1990 level in 2013. However, the Georgian agricultural sector, in the same period, has been characterized by a quite different trend.
19
December
2016
In 1991, the former finance minister of Chile, Alejandro Foxley, said in an interview: “We may not like the government that came before us. But they did many things right. We have inherited an economy that is an asset.”
03
December
2016
My dad used to tell me stories about the exciting period when the Soviet Union’s economy started faltering and public resources were suddenly up for grabs in the chaos of capitalism that emerged. While this period is usually associated with the appearance of crafty oligarchs, in Georgia also less wily businessmen could exploit the circumstances, among them many Turks.
