For a long time, Russia was seen as the land of opportunity for foreign investors. The allure of the country with a large population, vast natural resources, and more importantly, a large middle class willing to spend money, was irresistible. The burgeoning economy, however, held a few secrets which threatened to derail investors’ hopes.

Cuba’s Fidel Castro once famously said about his country: “Even our prostitutes have university degrees”. While we don’t know about prostitutes, something similar could be said about Georgia. Virtually all Georgians have university degrees, and, as every frequent user of taxi services knows, there are Georgian taxi drivers who have two of them.

“Considering agricultural externalities in the measurement of farm performance: the Swiss case” was the title of a presentation given by Dr. Phatima Mamardashvili at ISET on April 29.

Until very recently Russia was considered by many foreign companies a somewhat difficult but promising country for investment, a “land of opportunity” that perhaps necessarily came with a hefty dose of a “riddle wrapped in a mystery inside of an enigma”. The difficulty was stemming primarily from Russia’s heavy-handed bureaucracy. Stories of corrupt practices, politically motivated court decisions, and questionable tax authorities’ tactics abounded.

On 22 April 2014, ISET hosted Dr. Maryam Naghsh Nejad, from the Institute for the Study of Labor, Bonn, who presented her paper “Does Suburbanization cause obesity?”.