Georgian consumer confidence suffered a major blow at the end of 2014, in the wake of the sharp Lari depreciation. Around February 2015, the Index found some support at the very low level of -35-30 points, and has been slightly improving since then. In July 2015, this mildly positive trend was reversed, and in August, the Index dropped another 4.1 points to reach a new historical minimum of -38.4 points. Interestingly, this entire drop was driven by older respondents, those aged over 35. We will come back to this point later in the article.
At the same ...
ISET Economist Blog
A blog about economics in the South Caucasus.
Sep
18
Apr
13
Economists disagree whether it was a good decision to reestablish the Georgian competition authority. When some years ago it was removed, the underlying logic was that a non-existing authority cannot be corrupt, and, more importantly, cannot harm the economy through misguided decisions. Assuming that corruption will not be a problem for the competition authority, neither now nor in the future, regulating markets is still a highly delicate issue which yields many possibilities to go wrong.
WHAT IS THE RELEVANT MARKET?
One of the central issues that have t...
Mar
20
FROM BADEN-BADEN
“Roulette until six in the evening. Lost everything”, notes Leo Tolstoy on July 14, 1857. He did not pen these words in Moscow or St Petersburg”, writes Elizabeth Neu. “It was in Baden-Baden that Tolstoy closed his diary with a sigh that night.”
“Tolstoy was not the only literary genius to have travelled thousands of miles from Russia to take the waters and enjoy the thrill at the roulette tables… and to leave with empty pockets. They all flocked here: the great realist Ivan Goncharov and the enthusiastic young ballad rhymer Vasili Zhuko...
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