Republic of Armenia : Accumulation, Competition, and Connectivity
By 2013, the Armenian economy has left behind most of the hangover from the global financial crisis and a look at medium- to long-term growth drivers is therefore in order. The central tenet of this report is that the government's job creation...
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| Format: | Country Economic Memorandum |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/04/18341626/armenia-accumulation-competition-connectivity http://hdl.handle.net/10986/16781 |
| Summary: | By 2013, the Armenian economy has left
behind most of the hangover from the global financial crisis
and a look at medium- to long-term growth drivers is
therefore in order. The central tenet of this report is that
the government's job creation agenda requires a
different growth model than the one followed before the
global crisis. Reaching the goals of the government's
strategy will require a combination of four factors: first,
higher investment and better financial intermediation
between savers and investors. Second, better utilization of
the labor force, including the largely untapped resource of
Armenians abroad. Third, stronger competitive pressures in
the markets for goods and services, which will improve
incentives for companies to innovate, adopt new
technologies, and become more efficient. Fourth, enhanced
connections of the landlocked Armenian economy with world
markets, including through land, air, and through internet
and communication technologies. This report's
theoretical framework emphasizes structural reforms to drive
growth. This report is structured as follows: chapter one is
macroeconomic developments and outlook; chapter two focuses
on saving, investment, and financial intermediation; chapter
three focuses on human resources; chapter four focuses on
competition; chapter five focuses on land connectivity;
chapter six focuses on air connectivity; and chapter seven
deals with internet and communications technology (ICT). |
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