ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Oct
24

The Shortest Road to Strawberry Field Isn’t Always the Sweetest, or Quickest

Nino Kvirkvelia and her husband Irakli Todua are not exactly your typical Georgian smallholders. Both spouses are well-educated (both hold economics and business degrees from reputable Georgian institutions). More importantly in the context of Georgian agriculture, the couple owns 28(!) hectare of arable land in Georgia’s horticultural heaven, Samegrelo, best known for its hazelnuts. This is a fantastic amount considering that the average size of agricultural plots in Georgia is only slightly above 1ha. A natural born entrepreneur, Irakli was among the f...
Rate this blog entry:
Continue reading
2165
0 Comments
Write a Comment
Oct
22

Back to the Future: Will an Old Farming Practice Provide a Market Niche for Georgian Farmers?

Back in ancient times, the moon was the center of everybody’s attention. People worshipped the moon and believed that it had mystical powers. Since then, the lunar effect on human mood and behavior has been an issue for psychological and astrological research. Surprisingly, many economic papers are also concerned about the influence of the lunar phases on stock returns. Yuan et al. (2006) found that stock returns (defined as the change in the value of a stock market index) are higher during the new moon period than during the full moon period. This ...
Rate this blog entry:
Continue reading
2210
0 Comments
Write a Comment
Oct
17

Khachapuri Index, Exchange Rate Dynamics and International Tourism

One glance at the ₾Khachapuri Index chart (for locals) tells the whole story of Georgian agriculture. Left to fend for themselves during the cold winter months, Georgian cows produce very little milk, sending dairy prices through the roof. Conversely, milk production peaks with the arrival of sunny weather and green fodders in early spring, leading to a collapse of milk prices. In the absence of large-scale industrial milk production (that does not depend as much on climate and weather conditions), the roller coaster image repeats itself, year in and yea...
Rate this blog entry:
Continue reading
1760
0 Comments
Write a Comment
Sep
19

What Do Politicians Promise Us: a Popular Guide to Political Platforms on Agriculture

“To win the people, always cook them some savory that pleases them.” ― Aristophanes, The Knights As the Election Day of October 8th approaches, we hear more and more about the platforms of Georgian political parties. Given that political competition is very fierce, one naturally expects to hear some blatantly populist statements – the kind of political promises (known to humanity from the times of Aristophanes) which are very popular among the voters, but are hard or impossible to implement in practice. Thus, for example, the reform of the tax syste...
Rate this blog entry:
Continue reading
1823
1 Comment
Write a Comment
Sep
12

To Bee or not to Bee?

  The economic significance of bees extends far beyond honey production. As the National Resource Defense Council writes in 2011 (“Why We Need Bees: Nature’s Tiny Workers Put Food on Our Tables”), the value of the honey that bees produced in the US in that year amounted to 150 million dollars, while the value of the harvested crops that were pollinated by bees was 15 billion dollars, i.e., greater by a factor of 100! Having bees around is not primarily beneficial for the beekeepers, but even more for anyone else who grows crops, fruits, or vegetable...
Rate this blog entry:
Continue reading
2329
0 Comments
Write a Comment

Our Partners