The Caucasian Tiger: Sustaining Economic Growth in Armenia

'The Caucasian Tiger' explains the factors underlying Armenia's stellar economic growth record, which has led to the country's emergence as a pre-eminent reformer among the former Soviet republics, and provides advice on policies that will entrench growth over the next decade. It describes how Armenia created an environment of macroeconomic stability and pursued reforms aimed at establishing a market economy that was integrated with the rest of the world. But the central focus of the book is the reform agenda of the future. The continuation of high rates of productivity gains requires Armenia to deepen reforms directed at sharpening the competitive framework of the economy, achieving closer integration with international trade and capital markets, building financial markets, and creating the conditions for the absorption of knowledge that leads to higher technological sophistication. Thus, this 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 future. As such, it will be of particular interest to readers working in the areas of economic policy and reforms, the economics and politics of transition to market economies, poverty reduction, competition and corporate governance, banking and trade policies, and stimulating innovation within a knowledge-based economy.