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ISET Economist Blog

A blog about economics in the South Caucasus.
Feb
10

Tusheti Community Network Drives Development into the High Mountainous Regions of Georgia

  Back in 2005, as there was no mobile coverage, my uncle drove dozens of kilometers to the Jvarboseli village in Tusheti to inform me that I had enrolled in university. Now, in 2020, there is still no mobile signal in most Tusheti villages, including Jvarboseli, however people can use broadband internet to reach out the world! Previously known only for its sheep farming and tasty Guda cheese, today Tusheti is also a famous touristic destination; while being home to one of the largest protected areas in Europe, covering three types of IUCN protected...
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Jan
29

Earth Is not Cool, It Is Getting Hotter!!!

Did you know that: • the 20 warmest years on record have been in the past 22 years? • average wildlife populations have dropped by 60% in just over 40 years (60% between 1970 and 2014)? • every year, nearly 1 million hectares (larger than New York City) of coastal ecosystems are destroyed? • in the past 20 years, 4.2 billion people have been affected by weather-related disasters, including a significant loss of lives? These and other broader changes such as rising sea levels, accelerating ice melt, shifting seasons, etc.  occurring on earth are...
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Dec
30

Food Prices are on Fire

In November 2019, prices for food and non-alcoholic beverages, as measured by the Food Price Index (FPI), drastically increased by 13.4% compared to November 2018 and contributed 4.02 percentage points to the change in the total Consumer Price Index (CPI). In recent months, annual food inflation marked at its highest level since August 2011 (Figure 1).1 Figure 1: Annual Food Price Inflation (January 2010-November 2019) Prices increased for all sub-categories of food and non-alcoholic beverages. The largest price increases were observed for fruits and gr...
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Dec
03

Inclusive and Sustainable Development of The Mountainous Regions: Myth or Reality?

  Mountains cover 54% of Georgia’s territory. People living in those areas represent the most vulnerable group of Georgian society. Land erosion and climate change are prevalent in the mountains; unsustainable use of natural resources (forests in particular) and limited access to infrastructure pose significant risks to the lives of people there. In order to ensure the inclusive and sustainable development of the mountainous regions, the Georgian Government adopted the Law on the Development of Mountainous Regions in 2015. A bit later, in 2018, the ...
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Jun
24

How Can You Be Sure? On the Agricultural Insurance in Georgia

  BACKGROUND Agricultural production is associated with a variety of risks, including market, institutional, and production risks. An important production factor in agriculture is the weather. Its uncontrollable nature makes weather risk the prevailing risk to agricultural production. Farmers have various informal and formal means of transferring and mitigating these risks. Informal means include savings, diversification, off-farm activities, etc. The most common formal means of risk mitigation is insurance. Insurance is a contract that transfers th...
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