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Albert Hayrapetyan
Liana Isayan


Social capital was the Achilles’ heel of the economic competitiveness of Armenia. In the meantime, the country made significant progress in solidifying it since the Velvet Revolution. In this article, we tried to present and analyze those elements of social capital which demonstrated significant progress in post-revolutionary Armenia, as well as the changes thereof. For that purpose, we have formulated the following research questions: What factors led to this growth, and what factors still lag? What hidden challenges can be observed through factual indicators which probably resulted from the slight decrease in the updated scores? What changes can be expected from the turbulent world and in the post-war society? The applied methodology is quantitative. In particular, to answer the research questions we used index analysis, graphic analysis, and comparison, correlation analysis techniques, pared t-test of the mathematical-statistical significance of changes, and Principal Component Analysis. The results of the analysis showed that a significant increase in the level of social capital was recorded in post-revolutionary Armenia, which was mainly due to the progress in institutional trust. Nevertheless, some revealed anomalies and encountered challenges undermined the archived progress in the growth of trust. Therefore, we put forward several recommendations.


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How to Cite
Hayrapetyan, A. ., & Isayan, L. . (2022). SOCIAL CAPITAL AND ITS CHANGES IN ARMENIA: CHALLENGES AND EXPECTATIONS. Journal of Liberty and International Affairs, 8(1), 81-97.
Author Biographies

Albert Hayrapetyan, Senior Researcher in Amberd Research Center, Armenian State University of Economics - Yerevan, Armenia

Albert Hayrapetyan holds a PhD in Economics. He also holds MA degrees from the College of Europe and the American University of Armenia. He is a Senior Researcher in the ‘Amberd’ Research Center of the Armenian State University of Economics and also a Lecturer at the Chair of International Economic Relations at the Armenian State University of Economics. Mr. Hayrapetyan is also a Visiting Lecturer at the Southern Federal University. His main areas of interest include economic integrations, regionalism, and international legal disputes.

Liana Isayan, PhD(s) at Armenian State University of Economics - Yerevan, Armenia

Liana Isayan is a third-year PhD student at the Armenian State University of Economics. She received a bachelor’s degree and a master’s degree in theory of economics from the Armenian State University of Economics. In 2016 and in 2017 she got “The Best student of the faculty” award. She is interested in social capital theory, networks and interactions, institutional and behavioral issues. Her current study topic is on the interaction between social capital and economic growth. She has participated in a number of professional conferences and workshops, as well as has authored / co-authored more than a dozen scientific works on inclusive growth and development, social and behavioral analysis, etc.