publication . Research . 2015

Armenia's Economic Growth Sustainability

Hayakawa, Tatsuji;
Open Access English
  • Published: 01 Mar 2015 Journal: 福山大学経済学論集, volume 39, issue 1, pages 91-106 (issn: 0288-4542, Copyright policy)
  • Publisher: 福山大学経済学研究会
Armenia enjoyed 15 years of uninterrupted high economic growth prior to the global financial crisis in 2009. Investment, particularly in the mining and metallurgy sectors, played a key role as a driver of economic growth. Remittances,mostly from Russia, had an effect in sustaining consumption and boosting construction. Armenia has shown some weaknesses in the external sector, due to demands for natural gas, mineral products, machinery, and equipment. Armenia's exports and FDI suffer from the embargo maintained by Turkey and Azerbaijan, in addition to the land-locked location. A political breakthrough would be necessary. To sustain growth, Armenia may need a grad...
free text keywords: Armenia, economic growth, FDI, investment climate, remittances
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Research . 2015
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