ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Davit Keshelava has not set their biography yet
Apr
22

An Egg Today? Or a Hen Tomorrow? Credit Regulations in Georgia

“We do not need people who will get credit to buy a refrigerator and TV, and end up in the black list” – Giorgi Kobulia, former Ministrer of Economy and Sustainable Development of Georgia “Long-term financial stability gains are always worth the short-term costs” – Koba Gvenetadze, Governor of the National Bank of Georgia Around two years ago, ISET-PI published a blog article on the problem of over-indebtedness in Georgia. The article stressed the idea that due to notably increased access to finances, an aggressive marketing campaign provided by financia...
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Nov
27

Georgia’s 2018 Presidential Election by Numbers

On 28 November, the Georgian Central Election Commission (CEC) will hold the second round of the very last direct presidential election in Georgia before the constitutional pivot to indirect elections. This is the last stage of a political reform aiming at replacing the presidential political arrangement with the parliamentary system. The president’s powers in the new system will be extremely limited and largely symbolic.1 Nevertheless, political parties are considering the presidential elections of 2018 to be a rehearsal for the more influential parliam...
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Jul
02

Will Georgia Ever Get to the World Cup?

“…….. Georgia clearly has potential. The country is small (5 million people), and horribly poor (even today, average income is below $4,000 per year). If Georgians could just become as rich as Croatia, they too could start beating England at Wembley.” – Simon Kuper and Stefan Szymanski, Soccernomics, (2006, p.287) “Football was born in England, grew to Brazil and died in Georgia” – a well-known joke about Georgian football. This summer, Russia is again at the epicenter of the world, but this time for hosting the 21st FIFA World Cup football tourna...
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Feb
05

The Tale of Two Cities: Are Almaty-Style “Bombilas” the Future of the Tbilisi Taxi Market?

  Recently, the administration of Tbilisi City Hall announced that the Tbilisi taxi market is going to be regulated. The process of switching to a regulatory frame will be gradual. At first, taxi drivers will be obliged to acquire taxi signs and permission from the appropriate authorities. This regulation is not expected to create significant pressure on taxi service providers. At the second stage, however, taxi drivers will be required to pass a technical inspection and satisfy minimal quality standards. The details of all the planned regulations r...
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Dec
04

Your Guest Is My Guest, or Why Tourism Is Not a Zero-Sum Game

The South Caucasus is divided by high mountain ranges, often impassable political borders, and ethnic conflict zones. In addition to three independent states, the region also includes three unrecognized territories. Nakhichevan is separated from Azerbaijan’s mainland by Armenia’s Syunik region. Armenia’s border with Turkey and Azerbaijan, on the other hand, is sealed for political reasons. Though trampled by politics, the economic arguments for greater regional integration in the South Caucasus are truly powerful. For one thing, thanks to its strategic l...
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Sep
25

Is ISET’s New BA Program Winning the Fight for Best Brains in Georgia?

  It is no secret that global competition for the best brains is as intense as ever. Having adequate human capital can put a country on a trajectory of perpetual growth, say economists. The ‘brain wars’ typically play out in the setting of national and multinational companies competing for talent, but some of the most intense fights happen between universities struggling to recruit and retain the best young minds on the planet. Even elite institutions such as Harvard, MIT, Stanford, Oxford and Cambridge are only as good as the quality of their last ...
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