Opinion

The FINANCIAL -- "Jewel in the Crown" - this is how Georgia is often described by international travelers visiting this beautiful country for the first time.  In fact, Georgia with its long history, spectacular landmarks and breathtaking landscapes is a secret gem located on the crossroad of Europe and Asia.

The chart shows the density of Georgian farmers’revenues received from selling their produce, generated from the sample of 3,000 Georgian rural households. (For the motivation and methodology of our study, please refer to the article that was published here last week. It is also available online on the ISET Economist Blog: “Dumb Farmers Do Not Grow Big Potatoes”, by Florian Biermann and Ruediger Heining). 

The FINANCIAL -- Established almost eight years ago, ISET Policy Institute’s Khachapuri Index was inspired by the famous Big Mac Index of The Economist. The Big Mac Index ranks countries on the cost – translated into US dollars – of the Big Mac hamburger sold at local McDonald's restaurants. We rank Georgia’s major cities on the cost of cooking one portion of Imeretian Khachapuri. 

The FINANCIAL -- Sometimes, transformation requires a crisis. Economists in particular are very well aware of this maxim. We are reminded of it every time a country undergoes an economic shock. A country in those times is a bit like a patient who gets the last warning from a doctor to drop the unhealthy habits or face irreversible consequences.

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