Object structure

Armenian Economic Review (AER) is an open-access journal publishing high-quality, peer-reviewed theoretical and empirical research across the full spectrum of economics, finance, business and management.AER emphasizes inclusivity, research integrity, and methodological soundness, with submissions evaluated on scholarly merit rather than perceived impact.AER adopts an objective and constructive peer-review process and uses article-level metrics to assess research on its own merits. It welcomes contributions relevant to both academic and practitioner audiences

In the digital economy, startups have become key engines of innovation, job creation, and economic growth across the world. This article examines the multifaceted roles of startups (particularly in the IT sector) and their capacity to reshape markets, attract foreign investment, and promote inclusive development. The topic is especially relevant for emerging economies like Armenia, where understanding the broader impact of startups is essential for designing effective, long-term growth policies. The primary aim of this study is to assess the significance of startups in Armenia’s economic transformation by analyzing global trends alongside national practices that facilitate their creation and success. Specifically, the article pursues three objectives: evaluating the impact of startups on different economic sectors, examining their role in employment and human capital development, and investigating their macroeconomic contributions, particularly in attracting foreign investment. Descriptive, comparative, and qualitative research methods were applied. The findings highlight the vital role startups play in economic diversification, the expansion of skilled employment, and the internationalization of local talent and innovation. The study concludes that startups are indispensable for advancing technological development and strengthening Armenia’s competitiveness, supported by appropriate government policies, financial instruments, and educational programs. While challenges remain, such as high levels of uncertainty and limited early-stage funding, high-growth startups generate substantial positive effects on the economy. Therefore, fostering a supportive and resilient ecosystem is crucial to enabling these enterprises to flourish and sustaining Armenia’s progress toward becoming a regional innovation hub.

Institute of Economics after M. Kotanyan of the NAS RA

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Fundamental Scientific Library of NAS RA