Economic Research


The purpose of this page is to bring together the research conducted by economics and data science faculty members of the Manoogian College of Business and Economics. Researchers presented on this page publish on peer-reviewed journals and conduct funded research projects. They have both common research projects and individual agendas.

This page is regularly updated to present achievements of our colleagues in terms of new publications, promotions, and new research projects.

Peer-Reviewed Publications

Barseghyan G., Baghdasaryan V., (2018). Optimum currency area theory: evidence from post-Soviet countries and implications for Eurasian Economic Union. Post-Communist Economies.

Grigoryan, A., Khachatryan, K., & Ter-Matevosyan, V. (2018). Armenia-Turkey border opening: what determines the attitude of Armenians?. Caucasus Survey, 1-19.Link:

Khachatryan, K., Baghdasaryan, V., Hartarska, V. (2018), Is the model “loans-plus-savings” better for microfinance in Eastern Europe and Central Asia? A PSM comparison, Review of Development Economics, under review. EMN WP3.  Link:

Khachatryan, K., & Avetisyan, E. (2017). Microfinance development in Armenia: Sectoral characteristics and problems. Strategic Change, 26(6), 575-584. Link:

Khachatryan, K., Hartarska, V., & Grigoryan, A. (2017). Performance and Capital Structure of Microfinance Institutions in Eastern Europe and Central Asia. Eastern European Economics, 55(5), 395-419. Link:

Bruno, O., & Khachatryan, K. (2011). Compulsory versus Voluntary Savings as Incentive Mechanism in Microlending Contracts. In 28e Journées Internationales d'Economie Monétaire. Link:

Grigoryan, A. (2015). A model with indivisible investments in different environments. Armenian Economic Journal, Volume 1. Link:

Grigoryan, A. (2013). A model for anocracy. Journal of Income Distribution, Volume 23/1.


Working Papers

Antinyan, A., Baghdasaryan, V., & Grigoryan, A. (2018). Social Preferences, Public Good Provision, Social Capital and Positional Concerns: Empirical Evidence from the South Caucasus. Social Capital and Positional Concerns: Empirical Evidence from the South Caucasus (September 1, 2018). CERGE-EI Working Paper Series, (625).

Baghdasaryan, V., Iannantuoni, G., & Maggian, V. (2018). Electoral fraud and voter turnout: An experimental study. European Journal of Political Economy. Link:

Grigoryan, A., & Khachatryan, K. (2018). Remittances and Emigration Intentions: Evidence from Armenia. CERGE-EI Working Paper Series, (626).

Grigoryan, A., & Mukhopadhaya, P. (2018). Multidimensional poverty in Armenia. Forthcoming in ADB Economics WP Series, 2018.

Grigoryan A., & Baghdasaryan, V., (2017). Inclusive economic development in Armenia. Good Jobs for Inclusive Growth in Central and West Asia; ADB, 2015-2017. ADB Economics WP Series.

Grigoryan A., & Baghdasaryan, V., (2017). Employment and labor market policies in Armenia. Good Jobs for Inclusive Growth in Central and West Asia; ADB, 2015-2017. ADB Economics WP Series.

Baghdasaryan, V., & Manzoni, E. (2016). Set them (almost) free. Discretion in electoral campaigns under asymmetric information. Link:

Grigoryan, A., Khachatryan, K., Disproportional regional development in Armenia: causes, consequences and policies, w/p.

Grigoryan, A., (2015). Migration and power. EERC WP 15-03E.

Grigoryan, A., (2014). First Thematic Paper: Sustainable and Strategic Decision Making in Mining (Armenia). World Bank WP 88467.


Other Publications

Grigoryan, A., (2015). Armenia: Income Gaps. World Policy Journal, 32(1): 3-11.

Grigoryan, A., (2015). Towards the Shared Vision on the Normalization of Armenian-Turkish Relations, CRRC, Yereven.

Grigoryan, A., (2013). The Impact of Mining Sector on Growth, Inequality, and Poverty: Evidence from Armenia.

Acopyan Center, AUA. Link: grigoryan.pdf.

Khachatryan, K. Case studies (published in Business Studies, 2nd edition Cambridge, Stimpson, P. and Farquharson, A., translated into Armenian): Strategic choice of Vanadzor Armenia resort and SPA; Vanadzor Armenia resort and SPA: Health and hospitality services promotion; Business Communication at IDeA Foundation