CHAPTER 6. Summary
Author:
Mr. Christian H. Beddies
Search for other papers by Mr. Christian H. Beddies in
Current site
Google Scholar
Close
,
Mr. Enrique A Gelbard
Search for other papers by Mr. Enrique A Gelbard in
Current site
Google Scholar
Close
,
Mr. James McHugh
Search for other papers by Mr. James McHugh in
Current site
Google Scholar
Close
,
Ms. Laure Redifer
Search for other papers by Ms. Laure Redifer in
Current site
Google Scholar
Close
, and
Mr. Garbis Iradian
Search for other papers by Mr. Garbis Iradian in
Current site
Google Scholar
Close

Abstract

Despite geographical isolation, trade blockades, and occasional political upheaval, Armenia’s economic performance during the past four years has been remarkable. Growth has averaged nearly 12 percent and poverty has fallen. The country has become a reform leader among CIS countries. This performance reflects a combination of factors, namely a sustained commitment to macroeconomic stability, structural measures undertaken since the mid-1990s, minimal government intervention in the economy, a focus on poverty-reducing policies since 2002, and support from the Armenian diaspora. These factors led to higher domestic and foreign investment, improvements in competitiveness, and a market-driven process of import substitution.

  • Collapse
  • Expand