THE TRANSITION OF THE ECONOMY FROM TRANSFORMATION TO MODERNIZATION

Authors

M.K. AGHAYAN National Polytechnic University of Armenia Author

Keywords:

transformation, modernization, national economy, institute, innovative institutional environment, competition, state-private sector, world economy

Abstract

Economic transformation and modernization concepts are considered. The prerequisites of transition from transformation to modernization, and the elements of the economy’s modernization process are distinguished. Transition of the economy from transformation to modernization means a higher responsibility for the state, which in its turn, supposes establishment of an innovative institutional environment.

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Published

07.04.2026

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