The Caucasian Tiger: Sustaining Economic Growth in Armenia

  title={The Caucasian Tiger: Sustaining Economic Growth in Armenia},
  author={Saumya Mitra and Douglas Andrew and Gohar Gyulumyan and Paul Holden and Bartłomiej Kamiński and Yevgeny Kuznetsov and Ekaterine T. Vashakmadze},
This book is intended to explain the factors underlying the stellar growth record that has led to Armenia's emergence as the Caucasian Tiger and to provide policy advice to the Armenian authorities to ensure the continuation of this growth. The book is presented in two parts, with Part I containing the analysis and the policy advice and Part II containing detailed background papers. The attribution for the emergence of Armenia as the Caucasian Tiger lies in the creation of an environment of… 

Figures and Tables from this paper

Poverty in “Transition”: 30 Years After and in the Pandemic

Focusing on the smallest post‐socialist economies, with a bigger picture in mind, this study argues that a crisis of human well‐being has been lurking in the background—behind macroeconomic stabilization and growth since the early 2000s.

Increase in Protectionism and its Impact on Sri Lanka's Performance in Global Markets

Sri Lanka's external performance defies global trends on two counts. First, the level of openness as measured by the ratio of trade in goods and services, after a strong increase in 1987-95 and

An Application of the Growth Diagnostics Framework: The Case of Georgia

This paper applies the Growth Diagnostics framework and attempts to identify the binding constraints to economic growth in Georgia. While many policies potentially promote economic growth in practice

The foreign exchange regime in a small open economy: Armenia and beyond

Purpose Offering an example of a small open developing economy, the purpose of this paper is to explore the reasons for relative stability in Armenia’s foreign exchange market. Relying on a

Democratisation in Armenia through the European Neighbourhood Policy

The EU, over time, has garnered international recognition and acclaim as a successful agent of democratisation in third countries. The transitions of Greece, Spain and Portugal in the 1980s coupled

Microeconomic Implications of Remittances in an Overlapping Generations Model with Altruism and Self-Interest

The paper explicitly models the dynamic strategic aspects of the interaction between the migrant and the remittance-receiving relative(s), with the migrant behaving as a Stackelberg leader. It is

“Soviet mentality?” The role of shared political culture in relations between the Armenian state and Russia's Armenian diaspora

Russia's Armenians have begun to form diaspora institutions and engage in philanthropy and community organization, much as the pre-Soviet “established” diaspora in the West has done for years.

Diaspora Engagement Strategies and Policies

Diasporas have been making contributions to their motherland for a long time (Ionescu, 2006), without waiting for policies to rally them and, if truth be told, very often finding them to be the major

Estimating the Income Gain of Seasonal Labor Migration

Male seasonal labor migration has become an increasing phenomenon globally and particularly for Armenia. This study finds that the monthly income gains for seasonal migrants from Armenia to Russia

Social Protection in Armenia: NGOs and the Underproviding State

This chapter analyzes pensions, health care, and social assistance in Armenia, and outlines a marked gap between social protection policies and ground level effects for the elderly. Family ties that



In Search of Prosperity: Analytic Narratives on Economic Growth

The economics of growth has come a long way since it regained center stage for economists in the mid-1980s. Here for the first time is a series of country studies guided by that research. The

Issues related to promoting a competitive business environment in Armenia

Despite the apparent growth performance of Armenian economy there is a widespread concern that the lack of competition within Armenia could threaten the long term sustainability of growth and that it

Growth Diagnostics ∗

Most well-trained economists would agree that the standard policy reforms included in the Washington Consensus have the potential to be growth-promoting. What the experience of the last 15 years has

A new view of economic growth

Part 1 Materials: growth concepts and facts. Part 2 Demolition: orthodox growth theories unorthodox growth theories - Schumpeter, Hirschman, Kaldor, Mirrlees, Arrow, Eltis, Kennedy, Nelson and


There is now widespread agreement among economists studying economic growth that institutional quality holds the key to prevailing patterns of prosperity around the world. Rich countries are those

Development theory and the economics of growth

Why are some countries richer than others? Why do some economies grow so much faster than others do? Do economies tend to converge at similar levels of per capita income? Or is catching up simply

Economic Analysis of Corruption: A Survey

Corruption is a persistent feature of human societies over time and space. The sale of parliamentary seats in 'rotten boroughs' in England before the Reform Act of 1832 and 'machine politics' in

Role of the Diasporas in Transition Economies: Lessons from Armenia

The paper develops additional economic arguments to emphasize the potential importance of the Diasporas’ contribution to economic transformation of former socialist economies. At the same time, it

Is Growth Exogenous? Taking Mankiw, Romer, and Weil Seriously

Is long-run economic growth exogenous? To address this question, we show that the empirical framework of Mankiw, Romer, and Weil (1992) can be extended to test any growth model that admits a balanced

Reforming Tax Systems Experience of the Baltics, Russia, and Other Countries of the Former Soviet Union

Starting in the early 1990s, the Baltics, Russia, and other (BRO) countries of the former Soviet Union initiated tax reforms that varied widely at the later stages. Recently, some of the BRO