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Analyzing and Assessing Key Factors for High Rates of Economic Growth in Armenia in 2022–2023: Myth and Reality

Author

Listed:
  • E. M. Sandoyan

    (Russian-Armenian University)

  • M. A. Voskanyan

    (Russian-Armenian University)

  • A. G. Galstyan

    (Russian-Armenian University)

Abstract

— This article is devoted to the analysis and assessment of the factors in economic growth in Armenia over the past two years and revising approaches to macroeconomic regulation in order to ensure sustainable economic growth in the long term. This study made it possible to identify the main reasons for economic growth in Armenia over 2022–2023 in terms of exogenous impact under the new geopolitical reality. The key conclusion of the study was the premise about the short-term nature of the double-digit growth in the last two years, which is more due to external factors, and the need to focus on the endogenous factors of economic growth in the long term.

Suggested Citation

  • E. M. Sandoyan & M. A. Voskanyan & A. G. Galstyan, 2024. "Analyzing and Assessing Key Factors for High Rates of Economic Growth in Armenia in 2022–2023: Myth and Reality," Studies on Russian Economic Development, Springer, vol. 35(5), pages 636-645, October.
    • Handle: RePEc:spr:sorede:v:35:y:2024:i:5:d:10.1134_s1075700724700175
    DOI: 10.1134/S1075700724700175
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    References listed on IDEAS

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    1. Michal Bernard Pietrzak & Adam P. Balcerzak, 2016. "Quality of Human Capital and Total Factor Productivity in New European Union Members States," Working Papers 23/2016, Institute of Economic Research, revised May 2016.
    2. Voskanyan, M. A., 2020. "Economic impact of COVID-19 pandemic in Armenia," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 6(3), pages 183-195.
    3. Roberta Capello & Giovanni Perucca, 2015. "Openness to Globalization and Regional Growth Patterns in CEE Countries: From the EU Accession to the Economic Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 53(2), pages 218-236, March.
    4. David M. Byrne & John G. Fernald & Marshall B. Reinsdorf, 2016. "Does the United States Have a Productivity Slowdown or a Measurement Problem?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(1 (Spring), pages 109-182.
    5. Michal Bernard Pietrzak & Adam P. Balcerzak, 2016. "Quality of Human Capital and Total Factor Productivity in New EU Member States," Chapters, in: T. Loster & T. Pavelka (ed.),The 10th International Days of Statistics and Economics. Conference Proceedings. September 8-10, 2016, edition 1, volume 1, pages 1492-1501, Institute of Economic Research.
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