Papers by Edward Sandoyan
Премьер-президентская система правления как тип полупрезиденциализма: основные характеристики и о... more Премьер-президентская система правления как тип полупрезиденциализма: основные характеристики и особенности функционирования ЭКОНОМИКА и УПРАВЛЕНИЕ Туристическая привлекательность россии ских регионов: коррупция имеет значение?
Премьер-президентская система правления как тип полупрезиденциализма: основные характеристики и о... more Премьер-президентская система правления как тип полупрезиденциализма: основные характеристики и особенности функционирования ЭКОНОМИКА и УПРАВЛЕНИЕ Туристическая привлекательность россии ских регионов: коррупция имеет значение?
Вопросы управления, 2022
The anti-crisis monetary regulation problem has become extremely relevant in the last two decades... more The anti-crisis monetary regulation problem has become extremely relevant in the last two decades, both in developed and developing economies. This article is devoted to the anti-crisis monetary policy analysis and assessment regarding the fundamental basis and its practical application in Armenia. The research subject is the monetary policy of the Central Bank of the Republic of Armenia from the point of view of its efficiency in a down economy. The methodological basis of the research is a review of theoretical and practical models of the monetary policy under crisis, recognized in the scientific literature, as well as its practical application in the developed and developing economies. The main goal of the research is an attempt to identify and assess the monetary policy of the Central Bank of Armenia from the point of view of its practical use over the past two decades. The research finding is the conclusion that under crisis, the monetary policy leads to contraversial results, however generally, is the best option for reducing crisis consequences, in particular, in terms of developing economies, which involve the Republic of Armenia.
Herald of Russian-Armenian (Slavonic) University: humanities and social sciences
Management Issues, 2021
Премьер-президентская система правления как тип полупрезиденциализма: основные характеристики и о... more Премьер-президентская система правления как тип полупрезиденциализма: основные характеристики и особенности функционирования ЭКОНОМИКА и УПРАВЛЕНИЕ Туристическая привлекательность россии ских регионов: коррупция имеет значение?
RAU, 2023
Implementation of Fiscal and Industrial Policies to Overcome the Economic Crisis and Ensure Susta... more Implementation of Fiscal and Industrial Policies to Overcome the Economic Crisis and Ensure Sustainable Economic Growth in Armenia.
RAU, 2023
Implementation of Fiscal and Industrial Policies to Overcome the Economic Crisis and Ensure Susta... more Implementation of Fiscal and Industrial Policies to Overcome the Economic Crisis and Ensure Sustainable Economic Growth in Armenia
RAU, 2022
Implementation of Fiscal and Industrial Policies to Overcome the Economic Crisis and Ensure Susta... more Implementation of Fiscal and Industrial Policies to Overcome the Economic Crisis and Ensure Sustainable Economic Growth in Armenia
RAU, 2022
Տնտեսական ճգնաժամի հաղթահարման և կայուն տնտեսական աճի ապահովման հարկաբյուջետային և ոլորտային քաղա... more Տնտեսական ճգնաժամի հաղթահարման և կայուն տնտեսական աճի ապահովման հարկաբյուջետային և ոլորտային քաղաքականությունների կիրառումը ՀՀ-ում
RAU, 2019
The monograph is devoted to the analysis of factors of emigration from
the country, taking into a... more The monograph is devoted to the analysis of factors of emigration from
the country, taking into account international experience, as well as
theoretical studies on this topic. Based on a retrospective analysis of
migration processes in Armenia, the authors highlight the key factors that
have contributed to the outflow of the population over the past 30 years.
RAU, 2017
Currency regulation in Armenia
RAU, 2017
Currency regulation in Armenia
Herald of Russian-Armenian (Slavonic) University: humanities and social sciences
Herald of Russian-Armenian (Slavonic) University: humanities and social sciences, 2021
Finance: Theory and Practice
The impact of currency regulation on the country's export potential has been the focus of scienti... more The impact of currency regulation on the country's export potential has been the focus of scientific research and discussion among economists for years. Currency regulation is a backbone element to maintain the competitiveness of the country's economy, macroeconomic stability, and to stimulate economic growth. The aim of this research is to analyse the impact of the exchange rate of the Armenian national currency (dram) on the country's export potential, as well as the choice of a currency regulation policy stimulating export expansion and economic growth in Armenia. The study employed the methods of statistical and comparative analysis, as well as the construction of logistic assumptions. The authors conducted a statistical analysis of the dynamics and structure of Armenia's exports by product groups and countries. They revealed that, with the exception of exports to Russia, Armenia's exports to other countries has a high ratio of raw materials. As known, the exchange rate has the greatest impact on the price competitiveness of finished products in foreign markets. The authors evaluated the impact of currency regulation policy implemented in Armenia on the export potential and competitiveness of Armenian goods, especially in the EAEU markets. The results show that Armenia is not able to maximize its export opportunities due to the uncompetitive exchange rate of the national currency. The key conclusion of the research is the thesis that Armenia should abandon the non-market mechanisms for ensuring exchange rate stability, the Central Bank should immediately shift to a policy of free-floating national currency and non-intervention, which will significantly expand the presence of Armenian finished products in foreign markets, especially in the Russian Federation.
Finance: Theory and Practice
Macroeconomic policy in Armenia over the past 30 years has led to a slowdown in economic growth. ... more Macroeconomic policy in Armenia over the past 30 years has led to a slowdown in economic growth. This, in turn, entails the need to revise approaches to macroeconomic regulation, as well as to search for key drivers of economic growth, which the state should emphasize in the future macroeconomic policy. The aim of this research is to analyze and assess the main drivers of economic growth in Armenia. We have employed the methods of statistical and comparative analysis, deductive analysis, as well as the analysis of historical data and the current state of the problem. The paper examines the key drivers of economic growth in Armenia, as well as periods of both a stable macroeconomic environment and economic crises, from the point of view of the efficiency and optimality of macroeconomic regulation. The current study identifies the most important sectors of the economy, analyses macroeconomic policy regulation in Armenia, and assesses the impact of such policies on economic growth in t...
FINANCE: THEORY AND PRACTICE Vol. 26, No.4’2022 , 2022
Macroeconomic policy in Armenia over the past 30 years has led to a slowdown in economic growth. ... more Macroeconomic policy in Armenia over the past 30 years has led to a slowdown in economic growth. This, in turn, entails the need to revise approaches to macroeconomic regulation, as well as to search for key drivers of economic growth, which the state should emphasize in the future macroeconomic policy. the aim of this research is to analyze and assess the main drivers of economic growth in Armenia. We have employed the methods of statistical and comparative analysis, deductive analysis, as well as the analysis of historical data and the current state of the problem. The paper examines the key drivers of economic growth in Armenia, as well as periods of both a stable macroeconomic environment and economic crises, from the point of view of the efficiency and optimality of macroeconomic regulation. The current study identifies the most important sectors of the economy, analyses macroeconomic policy regulation in Armenia, and assesses the impact of such policies on economic growth in the country. the results show that today's macroeconomic regulation can be considered ineffective, which certainly has a negative effect on the rate of economic growth. the key conclusion of the research is the thesis that it is urgent to develop new socioeconomic policy approaches to ensure sustainable economic growth in the future and to emerge quickly from future economic growth crises without restricting or halting economic activity.
This article reviews some of the key aspects of exchange rate and monetary policy choices with re... more This article reviews some of the key aspects of exchange rate and monetary policy choices with reference to developing countries. It analyses also the “the impossible trinity” in theory and practice of emerging markets, its specificity in the monetary policy of Armenia. The study finds that the floating exchange rate is optimal when combined with an active monetary policy in the case of emerging economies. Also the results suggest the necessity of a changing of orientation of the monetary policy of Armenia: it must contribute to economic growth rather than to be the means of a fight against inflation. The policy of maintaining a low level of inflation, aimed at squeezing the money supply and credit, impedes economic growth, export expansion and makes the system less resistant to external shocks. Then what monetary and exchange rate policy should follow Armenia in today's realities, taking into account the integration processes within the framework of EAEC? Just to these problems...
With the acceleration of economic globalization more and more countries begin to look for effecti... more With the acceleration of economic globalization more and more countries begin to look for effective ways of deepening of integration processes with the regional neighbors. At the same time, each country, depending on the specific structural features of the domestic economy, in addition to the expected positive effects of trade and economic relations and increase of the level of welfare, has to deal also with the impact of certain negative effects, which in some cases are able to nullify all the favorable expectations. Recent developments in the integration processes in the Eurasian space point to the inevitability of sophistication of integration levels between countries. Despite the fact that it is in the short term the currency or financial integration, however, clear that this possibility is not far off. And, given the seriousness of such a step, the preparation of the financial integration should start long before the actual financial integration. At the same time, it should be ...
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Papers by Edward Sandoyan
the country, taking into account international experience, as well as
theoretical studies on this topic. Based on a retrospective analysis of
migration processes in Armenia, the authors highlight the key factors that
have contributed to the outflow of the population over the past 30 years.
the country, taking into account international experience, as well as
theoretical studies on this topic. Based on a retrospective analysis of
migration processes in Armenia, the authors highlight the key factors that
have contributed to the outflow of the population over the past 30 years.