ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Jan
21

Money for Nothing: Why Don’t Georgian Students Act Like Investors?

Back in 2005, the Georgian government introduced the Unified Entry Examinations (UEE) for admittance into universities. Before the UEE, each university had their own set of entry examinations and examiners, which opened the system to abuse and corruption. With the introduction of the UEE, the government of Georgia managed to make the system fairer and more transparent. As part of this process, the government provides merit-based scholarships to students, based on standardized test scores. The very best students can get up to 2,250 GEL per year for all th...
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Dec
03

The Textile Industry Stopping by in Georgia

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 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. As the American journal The Tennessean wrote in 1977: “Soviet blue jeans may look like jeans, but that doesn't mean they are… One of the country's most exasperating problems is trying to satis...
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Nov
28

TUMORROW IS ALREADY HERE

Spending a big chunk of their precious summer vacation in Armenia was not exactly my kids’ dream. Their wish list included far more exotic destinations in Africa, the Far East and Europe’s leading capitals – Vienna, Paris or London. And, yet, it did not take too much convincing for them to go on a one-week trial at TUMO’s summer school for creativity in Yerevan. All I had to do was show a few pictures from TUMO’s website: What was supposed to be a one-week trial turned into a four-week immersion into the world of photography, 3D modeling and animation (...
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Nov
14

Georgian Haves and Have-Nots. Who’s to Blame and What to Do?

Just like the World Bank’s Doing Business, Transparency International’s Corruption Perceptions Index and many other international rankings, the European Bank for Reconstruction and Development’s (EBRD) Transition Reports have typically carried a very positive message for Georgia, Eastern Europe’s poster child of transition since the Rose Revolution of 2003. This year’s Transition Report, launched last week in Tbilisi by Alexander Plekhanov, EBRD’s Deputy Director of Research, is somewhat exceptional in this regard. Subtitled “Equal opportunities in an un...
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Oct
19

ISET Consumer Confidence: Anticipation Beats Realization

The CCI, which is computed by ISET-PI on a monthly basis, monitors how Georgians feel about their personal financial situations and the economic well-being of the whole country. Roughly speaking, the index is computed as the difference between the frequencies of positive and negative answers to 12 questions covering the present and expected economic situations of the households surveyed, as well as general economic parameters of the country, such as inflation and unemployment. It ranges from −100, a result that would follow if all respondents answered al...
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