EconPapers    
Economics at your fingertips  
 

The legends of the Caucasus: Economic transformation of Armenia and Georgia

Aleksandr Gevorkyan

International Business Review, 2015, vol. 24, issue 6, 1009-1024

Abstract: Considered peripheral in economic terms the structurally fragile Armenia and Georgia with obvious limitations are open to international business. This article constructs a compact analytical synthesis of the duo's potential across macroeconomic, industrial, external exposure risk, institutional, and the Diaspora (dispersion) effects within the five forces model of the social and economic transformation. Post-Great Recession dynamic analysis, sketching sectoral and business trends, tackles issues of market entry and foreign investor strategy. Armenia's impressive pre-crisis pattern has yet to be recovered, while Georgia's post-crisis record has been more consistent with earlier years. Armenia's entrepreneurial and innovative capacity, vital to new business accommodation, ranks above Georgia's, where traditional sectors are dominant. All in all there is a need for an individual, not “bulk”, analysis of the post-socialist periphery. Foreign firms’ managers are suited to gain if acquire local context and local (or Diaspora-) based partner (public or private) prior to regional or standalone entry. Despite multiple headwinds, both economies retain strong international business potential and hope for an economic and social resurrection.

Keywords: Armenia; Comparative economics; Diaspora vs. dispersion; External exposure risks; Georgia; Regional vs. standalone market strategies; Post-socialist transformation; Transitional business models (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0969593114001917
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:iburev:v:24:y:2015:i:6:p:1009-1024

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/133/bibliographic
http://www.elsevier. ... me/133/bibliographic

DOI: 10.1016/j.ibusrev.2014.12.002

Access Statistics for this article

International Business Review is currently edited by P. Ghauri

More articles in International Business Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2024-02-12
Handle: RePEc:eee:iburev:v:24:y:2015:i:6:p:1009-1024