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ISET Economist Blog

A blog about economics in the South Caucasus.

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Jun
20

Why Care About Informal Employment?

Before answering this question, let us define what economists usually mean with ” informal employment”. There is some confusion with this term, and sometimes it is improperly used as a synonym for tax evasion or illegality. ILO defines informal employment as: employment “consisting of units engaged in the production of goods or services with the primary objective of generating employment and incomes to the persons concerned. These units typically operate at a low level of organisation, with little or no division between labour and capital as factors of p...
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May
26

Discrimination in Georgia

On May 2, 2014, the Georgian parliament unanimously passed the law on the elimination of any form of discrimination. The stated objective of the law is to ensure that any physical or legal entity equally benefits from all rights defined by Georgian legislation, irrespective of race, skin color, language, sex, citizenship, place of origin, birth or residence, wealth or class status, religion or belief, national, ethnic or social belonging, profession, marital or health status, disabilities, sexual orientation, gender identity, political or other considera...
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May
23

Georgian Shadow Economy - its Past and its Legacy

The existence of a sizeable shadow (or second, informal) economy in the USSR was and is well-known. The Soviet era was characterized by a very rigid formal system with a high level of bureaucratization and inefficient planning. This resulted in many problems, both in terms of production and consumption. Soviet consumers experienced constant frustration and dissatisfaction caused by endlessly searching for goods and services they demanded, the need to queue for them without any guarantee of getting what they wanted, and the risk of having instead to accep...
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Feb
28

Access to Electricity: Is Off-the-Grid an Option?

Assuring access to modern energy services for the whole population is a crucial step to improve human well-being and stimulate economic and social development. The International Energy Agency (IEA) has identified the lack of access to modern energy services as one of the main obstacles to overcome in order to achieve the UN Millennium Development Goals. In its 2011 World Energy Outlook, the IEA argued forcefully about the need to find and mobilize the resources required to extend access to modern energy services to the poor around the world. Transition c...
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Oct
11

Electricity Generation in Georgia II: Blowing Wind into the System

In the first part of our article we pointed out that electricity generation by hydropower is subject to strong seasonal variations. We argued that the seasonality of hydropower reduces the profitability of new plants, as they deliver the highest output in the time of the year when electricity is relatively cheap anyway, while they produce rather little when electricity is expensive. There are other problems why the potential of additional hydro power plants to solve Georgia’s energy problem are limited. Chart 4 shows a simple projection for 2020: The pro...
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Oct
04

Electricity Generation in Georgia I: The Seasonality Problem

In our two-part article we discuss how combining wind and hydropower can help the Republic of Georgia to achieve energy independence and become a net energy exporter. OVERVIEW Due to the geomorphological characteristics of its territory and to its geographical location, the Republic of Georgia is rich in hydro resources. According to the Georgian Ministry of Energy and Natural Resources, so far Georgia has been exploiting only about 20% of its hydro resource potential. Since 2006 the Georgian government has been planning to utilize these resources to not...
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