“The lobby of the Metropole, Moscow's lovingly restored grand hotel a few blocks from Red Square, is almost deserted on this gray spring afternoon. That's just fine with Jeffrey D. Sachs, a boyish-looking 38-year-old Harvard professor who is now probably the most important economist in the world. He has appropriated a cluster of comfortable armchairs for a meeting with two members of his team, Americans who work full time in Russia. The agenda is Russia's safety net or, more precisely, whether unemployed workers will be able to make ends meet. Russia is ...
ISET Economist Blog
A blog about economics in the South Caucasus.
Mar
10
Apr
22
“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...
Nov
27
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...
Jun
18
Georgian and Armenian ruling parties have been until recently basking in the glory of high GDP growth rates. Armenia’s stellar growth performance of 7.5% in 2017 and Georgia’s respectable 5% are, indeed, worthy of praise. However, do these figures really matter for the objective well-being of the majority of Georgians and Armenians? Second, how does economic growth, as measured by GDP, affect people’s subjective perception of happiness? Third, what does it do to crime rates and people’s appetite for political representation, social justice and fairness?
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Recent Comments
Ani, I am sure you are a better judge of the Armenian people. From what Ive read, however, there have been quite a number of recen... Read More
Thursday, 21 June 2018 8:08 AM
It is interesting to mention about the little degree of patience of Armenians for their rulers, while they could tolerate the same... Read More
Wednesday, 20 June 2018 8:08 PM
Could not agree more, Simon! I would only add that decent schooling and improved socialization starting from an early age, well be... Read More
Thursday, 21 June 2018 8:08 AM
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