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The Caucasian Tiger : Sustaining Economic Growth in Armenia

Author

Listed:
  • Saumya Mitra
  • Douglas Andrew
  • Gohar Gyulumyan
  • Paul Holden
  • Bart Kaminski
  • Yevgeny Kuznetsov
  • Ekaterine Vashakmadze

Abstract

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 macroeconomic stability and the determined pursuit of reforms aimed at establishing a market economy that was integrated with the world. This book describes that story. But the central focus of the book remains the reform agenda for the future. It is argued that the continuation of high rates of growth would require building defenses against economic shocks the country may face, and this would entail addressing the key vulnerabilities in today's economy. Thus the book is intended not only as a case study of success in post-Soviet economic transition, but also as a candid piece of policy advice for the Armenian authorities

Suggested Citation

  • Saumya Mitra & Douglas Andrew & Gohar Gyulumyan & Paul Holden & Bart Kaminski & Yevgeny Kuznetsov & Ekaterine Vashakmadze, 2007. "The Caucasian Tiger : Sustaining Economic Growth in Armenia," World Bank Publications - Books, The World Bank Group, number 6644, December.
    • Handle: RePEc:wbk:wbpubs:6644
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/6644/392500AM0Cauca101OFFICIAL0USE0ONLY1.pdf?sequence=1
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    References listed on IDEAS

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    4. Solow, Robert M., 2000. "Growth Theory: An Exposition," OUP Catalogue, Oxford University Press, edition 2, number 9780195109030.
    5. Jeffrey Round, 2003. "Constructing SAMs for Development Policy Analysis: Lessons Learned and Challenges Ahead," Economic Systems Research, Taylor & Francis Journals, vol. 15(2), pages 161-183.
    6. Schneider, Friedrich, 2002. "The Size and Development of the Shadow Economies of 22 Transition and 21 OECD Countries," IZA Discussion Papers 514, Institute of Labor Economics (IZA).
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    Citations

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    Cited by:

    1. Mario Liebensteiner, 2014. "Estimating the Income Gain of Seasonal Labor Migration," Review of Development Economics, Wiley Blackwell, vol. 18(4), pages 667-680, November.
    2. Ademmer, Esther & Langbein, Julia & Börzel, Tanja A., 2019. "Varieties of Limited Access Orders: The nexus between politics and economics in hybrid regimes," Open Access Publications from Kiel Institute for the World Economy 225063, Kiel Institute for the World Economy (IfW Kiel).
    3. Yaroslava Babych & Michael Fuenfzig, 2012. "An Application of the Growth Diagnostics Framework: The Case of Georgia," Working Papers 001-12, International School of Economics at TSU, Tbilisi, Republic of Georgia.
    4. World Bank, 2013. "Republic of Armenia : Accumulation, Competition, and Connectivity," World Bank Publications - Reports 16781, The World Bank Group.
    5. Aleksandr V. Gevorkyan & Jacob Assa, 2021. "Poverty in “Transition”: 30 Years After and in the Pandemic," American Journal of Economics and Sociology, Wiley Blackwell, vol. 80(4), pages 1233-1258, September.
    6. Roth, Steffen & Ströhle, Lorenza, 2016. "Wie weit geht Crowdsourcing? Transnationale Open-Innovation-Strategien gegen den Braindrain der GUS-Staaten," EconStor Preprints 147408, ZBW - Leibniz Information Centre for Economics.
    7. Linz, Susan J. & Semykina, Anastasia, 2009. "Personality traits as performance enhancers? A comparative analysis of workers in Russia, Armenia and Kazakhstan," Journal of Economic Psychology, Elsevier, vol. 30(1), pages 71-91, February.
    8. Zenonas Norkus & Aelita Ambrulevičiūtė & Vaidas Morkevičius, 2019. "Relevance of American Diasporas for the Post-Soviet Economic Recovery and Growth of Their Homelands. Armenia and Lithuania in Comparison," Revue d'études comparatives Est-Ouest, Presses Universitaires de France, vol. 0(1), pages 207-239.

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