The Interpretation of Knowledge Economy and the Problems of Its Rise and Development in Armenia

This paper analyses the socio-economic factors of knowledge economy in Armenia. The presented problem of exploration focuses on the determinants and conditions for a new type of economy development and the correlation between the factors and incentives of rising and developing knowledge economy. The research is based on exploring and revealing the main causes and prerequisites which generated favourable conditions for knowledge economy, as well as on analysing methods to accelerate its development in the country. The study and discussion of the knowledge economy in Armenia is done first of all in terms of IT. The educational, taxing, management systems and effective cooperation between public and private sectors are considered to be important factors in the development of knowledge economy.