The Small and Medium Size Enterprises and the Middle Class Evidence of the Republic of Armenia
DOI:
https://doi.org/10.14666/2194-7759-5-1-004Keywords:
Small and medium enterprises (SME), Middle class, GDP per capita, Poverty and inequality, GINI Index, Gross national savings, Economic growthAbstract
This paper analyzes the importance of small and medium enterprises (SME) development in the context of middle class enlargement in the Republic of Armenia (RA). The paper first describes the relationship between the relative size of the SME sector and the living standards by country groups classified by the income-based criterion of the World Bank. We then show that the shares of middle class and SMEs increase as countries grow richer and societies less unequal. We also found that despite some improvements in SMEs in RA for the last years its size remains still insignificant and the impediments restricted the future development of the sector are specified.
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References
Ayyagari M, Beck T, Demirgüç-Kunt A (2005) Small and Medium Enterprises across the Globe: 36 - http://www.tilburguniversity.edu
Davoyan L, Davoyan V, Deepening of financial intermediation in the context of poverty and inequality reduction in Armenia// The collection of scientific works «Information Technologies and Management» (2), “The Encyclopedia- Armenika”, Yerevan, 2012: 117-126
Easterly W (2000). The Middle Class Consensus and Economic Development, The World Bank, Policy Research Working Paper # 2346 – www.worldbank.org
Solimano A (2008) The Middle Class and the Development Process p.1 - http://www.andressolimano.com
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