• To make available the quality education and training for all
  • To provide a forum for the exchange of ideas and independent research within and outside Armenia
  •  To engage government policy-makers and multilateral agencies insituation analyses and evaluations of current and near-term state economic policies and programs as input to decision-making
  • To provide policy and economic analysis on efficiency, efficacy, and equity issues relating to agriculture, food, environment, and other developmentinterventions

CEPREA “ALTERNATIVE” is an independent center for education and research in Armenia. The Center was founded by a team of young professionals, experts and opinion makers residing both in Armenia and throughout the world. Thanks to the devoted activities of the founders and associates of the institution significant academic forums have been realized since its founding in 1991, thereby developing a new culture of fruitful political discussion on major issues of national and global concern. Among the Center’s most prominent academic endeavors are: East-West Exchange Program in cooperation with York University in Toronto, Canada (1990), Symposium ¾ 91 on Economic Restructuring and Development of Armenia (1991, California, USA); Global Challenges and Regional Economic Strategies (1992, Kiev, Ukraine); Contemporary Issues of Sustainable Economic Growth (1998, Yerevan, Armenia); NATO after the Prague Summit (2003, Yerevan, Armenia); and others. The Center has contributed a long list of op-ed articles and analytical papers, and the first volume of Armenia 2020: Strategy for Security and Development, 2003.

ALTERNATIVE” is not just the name of the Center. It is a derivative of the nation-building process and an expression of the firm belief that the ‘democracy’ alternative will deliver authoritative governance, secure land, sustainable development, and a strong economy. The Center aims at ensuring that basic liberties are protected, and Armenia’s leadership and intelligentsia are equipped with insight and acumen for tackling current and upcoming challenges and for finding alternative responses to human adversities. The Center concentrates its resources in research on contemporary issues of domestic policy as well as regional and global strategies, with emphasis on economic and security aspects of development.


ALTERNATIVE” aims to grow into a center where both seasoned professionals and new graduates join efforts in critical analysis and research of the political and economic environment, develop independent assessments of the current situation and forecast future trends in the world economy and corresponding impacts on states and regions. The Center’s fundamental belief is that the future of Armenia strongly depends on how timely and successfully its intellectual potential ¾ the comparative advantage of a nation ¾ is realized.


Current Education, Training and Research Areas


  • § Economic policy studies¾ Understanding the functioning of Armenia’s economy, how to preserve and grow its advantages, how to solve problems that arise from limitations, and how to capitalize on strengths.
  • § Democratic governance and civil society¾Standards of good governance and cultivating the political conditions within which democracy and civil society can thrive.
  • § Political and economic security¾ Analyses of the political and economic forces that create and sustain national security; Impact of global trends; Armenia and Millennium Development Goals; Strategic alliance and regional integration, including cooperation with EU, Eastern Partnership, and others.
  • § Foreign trade relations and economic policy¾The strategic and economic impact of foreign trade relations, strategic alliances and regional integration.


Current Activity Areas


  • Elective graduate and post graduate

courses on emerging market economies

  • Trainings on management and business
  • Research and analysis
  • Publications and presentations
  • Student internships
  • Academic conferences
  • Local and regional workshops
  • Lunchtime talks
  • Assistance in business negotiations



The CEPREA contributes towards building a society in which there is quality education and training for all, based on the principal values of democracy, transparency, availability and fairness.




The CEPREA works close with government departments of education; state and private educational institutions, legislative structures, NGOs, international organizations and other institutions supporting our core values in order to contribute to a common vision of high quality education and training for all.

The CEPREA has developed unique culture of teamwork with all stakeholders both in Armenia and abroad in order to utilize this mission by:

  • Undertaking most vital projects of independent research, policy analysis, monitoring and evaluation
  • Providing consultancy on the development and implementation of policy
  • Promoting and facilitating public policy dialogue, academic exchange of views and debate
  • Contributing to the overall capacity building in research and the education system
  • Initiating and running conferences, seminars and meetings.





Current activities of the Center for Education, Policy Research and Analysis ALTERNATIVE (CEPREA) in the education and training sectors takes a number of different forms.  Our principle areas of work are education policy research, monitoring and evaluation and the promotion of public policy dialogue on education and training policy. Also, CEPREA provides project and grant management services for education and training projects.


CEPREA’s research work in 2011 continued to be a balance between commissioned research and independent, self-initiated research projects. The former is particularly conducted for government departments of education and statutory bodies working in the field of education. The latter has been conducted largely with the assistance of donor funding, particularly from the Counterpart International and the Eurasia Partnership Foundation (EPF). Funding from the latter has come to an end effective from the end of 2011. However, EPF assistance is expected to continue, with two major programs in place: one on exchange program between CEPREA and Middle East Technical University in Ankara, and one on alternative and renewable energy sources. Both these programs are being conducted by the CEPREA as part of larger consortia, involving other research agencies and universities. This has allowed for larger and more effective research programs than could have been conducted by any one agency working on its own.


Our five year program of collaboration with a group of researchers from different universities (including University of Antwerp, Belgium, Bond University in Australia, University of San Francisco in USA and others) came to its end in 2011 with the launch of a manuscript “The world economy today: current trends and developments”. This is an important study on the conceptualization of various approaches on current trends in global markets with their particular impact on developed nations and developing world. The manuscript is planned to be published by CEPREA in mid 2012. The publication details are as follows:



  1. Current trends in the world economy – Prof. Tatoul Manasserian (Yerevan State University, Armenia)
  2. Changing world with the new role of government: protectionism vs. fair competition – Prof.Glenn Rayp (University of Antwerp, Belgium)
  3. Economic, political, legal and cultural grounds of competition – Prof. John Walsh (Shinawatra University, Bangkok, Thailand)
  4. Competition, prevailing forms of market penetration and strategic alliances – Prof. Xiaohua Yang (University of San Francisco, United States)
  5. Challenges for the global economic security – Dr.Prof. Rosita Delios (Bond University, Australia)
  6. The social consequences of globalization – Dr. M.Dumont (University of Antwerp, Belgium)
  7. Monetary integration  – Dr. R. Indjikian (UNCTAD, Geneva, Switzerland)


  1. The Rise of Emerging Market’s MNEs in Developed Economies, Liliane Van Hoof, Philippe Van Bets
  2. Regionalization and regional economic cooperation: European Integration – Prof. H.Laermans, Prof. P.Roosens(University of Antwerp, Belgium)
  3. The new EU-29 internal market for visible trade and IP/OP logistics – Prof. E.Claessens, Prof. C.Storme,Prof. L.Van de Wiele (University of Antwerp, Belgium)
  4. NAFTA – Dr. T.Grigorian (University of Redlands, United States)
  5. South American economic integration – Prof.Philippe De Lombaerde
  6. Africa– Prof.Paul Roosens (University of Antwerp, Belgium)
  7. China– Prof. Chen Xiebin (University of Antwerp, Belgium)
  8. Convergence and emerging market economies – Prof. Tatoul Manasserian
  9. From AFTA towards an ASEAN economic community and beyond – Prof. L.Cuyvers, Prof. P.De Lombaerde, Prof. S.Verherstraeten (University of Antwerp, Belgium)
  10. Conclusion and scenarios for future – Prof. Tatoul Manasserian


Since it was established, the CEPREA has seen its role as supporting the establishment and maintenance of a vibrant Armenian democracy through policy interventions in the education and training system and by facilitating stakeholder and general public participation in the state’s decision making processes. In recent years this role has increasingly taken the form of providing progressive, high-quality research support to the education departments as well as conducting independent policy research to assist in strengthening the education system for the benefit of all Armenians – especially for most talented young people who live on or below the poverty level with limited means for education.  It has been more challenging to sustain our role in advocacy and in the promotion of an efficient public dialogue.  While this role was never abandoned, it did tend to take a back seat in the face of the need for sustainability in a funding environment that became increasingly difficult for such activities. In order to focus our attention on this, we have decided to make a special effort – including finding sufficient resources – to establish special programs for life – long education. Initially this will focus mainly on the level of awareness on global developments and encourage people to utilize the principle “think global, act local”.  This is particularly useful for middle age generation educated on soviet values and attempting to make a major transition from old mentality to a new and more competitive one. All our efforts are aimed to empower them to participate more effectively in both – decision making process on micro level and public policy making process. This will involve the production and publication of material in both hard copy and in electronic form for widespread distribution to various stakeholder groups. It will also involve increased participation by our experts and staff in public debates on education policy, a more active seminar and conference program and an intensified involvement in responding to government policy proposals. While evidence of these activities will be seen in this report, we expect them to increase in the years to come.


Throughout the year 2011, the CEPREA has made a number of submissions to the education department and the parliamentary education portfolio committee on proposed legislation and policy documents, participated in debates through the media and organized and participated in various seminars, workshops and conferences.


In January 2011, we held the second Mentor Buniatyan Readings with a key note address which was delivered by Professor Mamikon Hayrapetyan from the School of Corporate Governance in Moscow, Russia. The lecture provided a valuable opportunity to examine in some depth key issues of higher education transformation in the world and in developing countries, in particular. It has been published as a booklet and has been posted on the CEPREA website. This annual series of lectures by prominent scholars and academics will continue to be held each year and is considered by the CEPREA as an important part of its public dialogue activity.  Next Mentor Buniatyan Readings will take place  in Paris in September, 2012.

In a potentially important new development, during the course of 2011 the CEPREA established contact with the University of the Free State in South Africa.  Our two institutions intend to conduct research on cost effectiveness issues in health care system.

Another initiative was to discuss contemporary issues related to the impact of the global financial crisis on a special joint workshop organized by CEPREA and the Union of Entrepreneurs and Businessmen of Armenia.  Also, an agreement was reached to cooperate further, particularly with regard to the CEPREA providing professional assistance and consultancy to be better prepared from possible waves of global crisis. We believe that our next year’s annual report will have more to report on this matter.

This annual report presents the substantial achievements of the CEPREA during the year under review for the benefit of readers. It reflects a strong and developing Center making a useful contribution to the Armenian system of education, as well as economic science and research.












CEPREA research activities comprise the underlying work of the organization. Through this work, the Center aims to contribute to the goal of creating an evenhanded, high quality and sustainable system of education that serves the nation as a whole and its most disadvantaged citizens in particular. Of particular and growing interest to the CEPREA is the relationship between education, democracy and development in Armenia. We see it as obvious that a strong and effective education system is necessary to build a strong economy which can provide a well-brought-up living quality to all citizens.  In addition, we observe a strong interrelationship between ensuring an educated population and a well-functioning democracy in which everyone can participate efficiently to guarantee that their welfare, security, economic and social well-being are properly watch out. All mentioned processes are supported and promoted by research that can contribute to ensuring informed decision making in government and organizations of civil society, by providing alternative policy analyses, and by facilitating and contributing to a public dialogue in which various perspectives can be presented, debated and assessed.

CEPREA’s research work can be categorized as: macroeconomic research, research related to specific business projects, and policy analysis.


Macroeconomic research


In January 2011, the CEPREA, as part of the Eurasian Scientific Council, concluded a two year research program on Economic Reforms in Transition Economies. As a result, a final conference was held in February 2011 and a book of papers presented is in the process of being produced. It will be available in hard cover and will also be posted on the CEPREA website.

As one of the most successful examples the economy of Kazakhstan was examined and a brochure on “Lessons from Kazakhstan” was published (in Russian language) and posted on CEPREA website.  Moreover, series of workshops were organized in Artashat, Tsakhkadzor and Yerevan, Armenia devoted to the outcome of mentioned research.  Other parts of CEPREA study were published in local and CIS newspapers.

During the year of 2011, the CEPREA was engaged in three major research projects.  As in previous years, in all of mentioned projects CEPREA participated together with other research institutions in researcher consortia.


Policy Research and Dialogue Project was funded Counterpart International in 2011.

CEPREA aims to support the overall process of economic reforms in Armenia by evaluating the efficiency of implementing economic laws, as well as identifying key areas where mentioned laws may allow the society to participate in any way in decision making process and increase the level of economic competitiveness of national economy and the quality of people’s life.

The Laws of the Republic of Armenia on Economic Competition, on the Minimum Consumer Basket, and on Taxation have been translated into necessary strategic management systems ¾ rules, procedures, practices, arrangements, and processes ¾ for improved economic performance in the Republic of Armenia.  Our research had specifically examined the extent to which management structures and administrative procedures (including knowledge requisites, processes, and supervisory controls) are integrated with the implementation requirements of these laws and assess the impact of changes made in the process of institutionalizing the authority in the polity.

CEPREA’s major goal was to assess the degree to which the referenced laws have been translated into implementing regulation, supported by procedures, practices, arrangements and processes for improved economic performance; and to make recommendations for filling existing gaps and upgrading the range and quality of services that must be shouldered by the bureaucracy, including administrative systems, human resources, and delivery mechanisms.


We had discovered that the reforms directly related to the economy have been passed in various phases and iterations in the past two decades.  Expert reviews of these laws have consistently given high marks for the substance of most while arguing that, although well-founded, laws would have positive impact only when integrated, implemented and enforced effectively. The achievements or degree of transformation realized through these reforms must be evaluated to assess the level of success and degree to which these reforms have actually served the intended purposes. The continued discontent by donor organizations, interest groups, and civil society with respect to the resultant level of economic progress points in the direction of unsatisfactory implementation or inadequate performance and impact. Alternative’s recent analysis of the Consumer Price Index in RA, for example, clearly demonstrates that the failure to realize positive impact quite often is attributed to inadequacies within the Government’s administrative structure and lack of sufficient acumen and expertise.

The importance and substance of various economic reform efforts cannot be denied, as they have aimed to address a number of important issues.  But CEPREA’s experience and preliminary findings has shown that several key issues should be taken into consideration in future economic reform efforts to ensure their integration with administrative structures and functional authorities for successful implementation.

In order to assess the degree to which the Laws on Economic Competition, Minimum Consumer Basket, and the Law on Taxation have been translated into establishing the necessary rules, procedures, practices, arrangements, and processes for improved economic performance, our research team had started from background research and implementation audit.  Interviews[1] soliciting stakeholder views on priorities for implementation of these economic reforms had been conducted and public forum involving different segments of the private sector, champions and opponents of these reforms inside and outside government has been arranged.  In particular, knowledgeable and experienced experts and various stakeholders, including public policy makers and national and international experts of economic reform had been interviewed.  Also, we had interviewed business representatives, economists, policy makers, government monitoring commissions, opinion makers and different consumer groups.  Our research started from the gap analysis mapping the intent of the subject laws against implemented changes and outstanding issues.  For that reason interview questionnaire was designed and responses analyzed / summarized in the order of priorities for economic reform and corresponding implementing action.  In addition, we had examined the impact of subject laws on the economy and recommendations regarding rules, procedures, practices, arrangements, and processes necessary for improved economic performance.

In a pre-project phase the work had started from recruiting and training members of the Steering Committee, making arrangements for establishing an office and setting it up.  In an assessment phase meeting were arranged with local government representatives.  Also. workshops with Steering Committee and other interested representatives / stakeholders, as well as town hall meetings helped to prioritize the goals and use existing resources more efficiently. The team also included in research work detailed environmental scanning and situation analysis, followed by assessment findings reported and accepted by community.

In order to make the work more professional, workgroups were formed and trained by our research team explaining the major goals and expected outcomes from the project.  This, in turn, allowed to gather requested baseline data, analyze assessment findings against baseline, validate baseline and pass to the next phase of summarizing findings aligning issues with existing and needed capabilities and delineating gaps.

Since some laws are lacking proper implementation, corresponding surveys[2] and interviews were conducted to identify gaps and make a list of possible corrective actions and competencies needed to fill existing gaps.   In particular, the Prime Minister of Armenia was interviewed on the Law of RA on Minimum Food Basket on July 22, 2011 to better understand the reasons that lead to existing gaps.

With the help of set values and guiding principles relevant mission and vision was developed in accordance with major goals for each of the 4 C’s, and objectives for above goals were specified. Finally, in order to make the process continuous formally Tavush Economic Forum in Navur village was established and first members were trained.  The research was carried out in neighboring regions and the main findings were reported to the community at large by press-conferences and round tables arranged in almost all marzes of Armenia.

CEPREA’s research team completed the works in accordance with the action plans and recommendations for filling the critical gaps and upgrading the range and quality of services that must be shouldered by the bureaucracy, including administrative systems, human resources, and delivery mechanisms.  CEPREA’s final report on this project was discussed at an open door conference.

Regional energy markets and energy efficiency. This was a project funded by Eurasia Partnership Foundation.  It was aimed to examine regional energy markets and assess the state of energy efficiency in South Caucasus region.  Considering the attempt of all three Caucasian countries (Armenia, Azerbaijan, Georgia) to become members of the European Union, special attention is being paid on the adoption of existing European standards in all areas of economic activities.  In addition, it becomes vitally important not only to consider the advantages of becoming an EU member, but also to utilize national competitive advantages and make regional markets available for current EU member states.  In particular, regional energy markets were studied by CEPREA team and a proposal was made to consider existing energy resources in Armenia, including the renewable ones.  Solar energy, wind energy, geothermal energy and other sources are currently part of the national energy development program to be implemented in coming years.  Solar energy discoveries and “know how” projects were analyzed and the overall effect was calculated from utilizing them.  This fits in national, regional and EU priority programs and may greatly benefit the states to ease the burden of energy shortages in Caucasus and outside the region.

Taking into consideration European Neighborhood Policy principles, as well as the new requirements of Eastern Partnership project designed for six post-soviet countries, our study had concluded that Armenia holds competitive position in energy sector.  More specifically, it is one of the rare economies that is self-sufficient in producing electricity.  Moreover, Armenia exports electricity to neighboring Georgia and Iran.  More recently an agreement was signed to export 4,5 billion kilowatt electricity per year to neighboring Turkey.  One should note that this does not reflect the entire potential in energy sector.  First, Armenia currently uses the capacity of Metsamor nuclear power plant that produces over 40% of all electricity in Armenia.  Other part of energy balance is being covered by hydro stations and thermal stations.  This means that the growing potential of alternative energy sources has not been considered yet.  Second even with traditional energy sources, Armenia is self sufficient, and being able to export electricity to three countries in the region utilizing only one third or around 32-33% of existing potential.

The outcome of the Regional energy markets and energy efficiency project was discussed with local and international experts in Armenia and tends to be continued to explore competitive and cooperative advantages of nations within the borders of European continent.

Recommendations were worked out and presented to Eurasia Partnership Foundation to assist regional players to solve the issues related to energy security and energy efficiency.


Next project was entitled The Real Causes of Inflation and Perspectives for Overcoming Them.   It was funded by the Union of Manufacturers and Businessmen of Armenia.  While examining the principal causes, it was mentioned that inflation cannot be ranked among possible threats to the economy. Under prevailing conditions, where currency is no longer backed by gold or other reserves and, in a certain sense, representing a state obligation, inflation could even be considered to spur the dynamic growth of the national economy within a range of 5-6 annual percentage points. Additionally, year-end increases in the consumption of goods and in production costs could well be considered a natural phenomenon requiring additional monetary resources. Realizing that available monetary resources could be insufficient to meet relatively higher household demands in the eve of a New Year, commercial enterprises in developed countries ordinarily offer consumers the benefit of considerable price discounts, augmenting their purchasing power and stretching their limited resources. Conversely, in Armenia, prices move in the opposite direction ¾ they increase ¾ primarily being driven by sellers’ confidence in Armenian consumers’ disposition with respect to purchasing their goods under any circumstance, even at the cost of obtaining them on credit.

CEPREA experts concluded that price inflation of up to an aggregate of 10 percentage points could be even beneficial in certain cases, provided the average monthly increase does not exceed one percentage point.  Inflation that occurs at a steady and gradual rate of increase is often referred to as “creeping” inflation.  This type of inflation normally occurs in conjunction with increases in money supplies, which accelerate the payment cycle and lower interest rates, positively affecting investments, as well as production growth and modernization, consequently boosting a country’s economic competitiveness.  Accordingly, growth in production induces equilibrium between money and commodity supplies, even under conditions of relatively higher prices.  Certainly, there exists a danger from deregulating the “creeping” inflation particularly in countries that have lower levels of production and where there are no functioning mechanisms for addressing structural distortions in the economy.

Thus, in at least two probable situations, price inflation may cause serious harm to state economic security.  The first of these situations occurs when inflation is in double digits and gradually becomes uncontrollable, harming both the local producer, as well as the local consumer.  The second is the so-called stagnation, which occurs when the high rate of unemployment is exacerbated by the high rate of inflation.[3] Clearly, Armenian is currently challenged by both of these negative phenomena.

Taking into consideration future increases in world food prices, it would be no exception that the high levels of inflation lead to a situation where bartering of commodities may replace monetary transactions, at least for some time and in certain situations; a phenomenon that has prevailed in different periods in history challenged by various crises ¾ e.g., during the difficult times of war in Germany and the USSR in the earlier decades of the 20th century.  

From the sense of a more radical change, CEPREA suggests that  it is important to note that the best way for offsetting inflation is through the aggregate demand of the population.  The latter would weigh against continuous price increases.  If real demand falls, i.e., commodities would no longer be consumed in preceding amounts, monopolies would be forced to bring prices down to acceptable levels in order to make profits rather than decreasing the volumes supplied.  However, such a move is unlikely to happen in Armenia, given that there is no direct correlation between actual household incomes and amounts of commodities consumed.  The factor of unearned income (in the form of assistance received from abroad) would not allow the economy to grow in conformity with economic principles.


South Africa-CEPREA joint project

CEPREA and University of Free State research teams and training and mentoring partner, Dr Nondumiso Makhunga-Ramfolo, together with Ms Sonja van der Merwe, Free State Department of Health, discussed an entire set of issues related to the cost efficiency of HIV treatment.  It was mentioned that cost-effective means ―giving the best possible profit or benefit in comparison with the money that is spent‖ (Hornby 2005). Cost-effectiveness analysis is a form of economic analysis that compares the relative costs and outcomes (effects) of two or more courses of action. Cost-effectiveness analysis is distinct from cost-benefit analysis, which assigns a monetary value to the measure of effect (Bleichrodt & Quiggin 1999). In our study cost-effectiveness analysis was expressed in terms of a ratio where the denominator is the rate of uptake of HIV testing by TB patients and the numerator is the cost associated with each of the three training and mentoring interventions:

– Professional nurse training and mentoring intervention:  Maluti-a-Phofung Sub-district (Thabo Mofutsanyana District).

– Community health worker training and mentoring intervention: Dihlabeng Sub-district (Thabo Mofutsanyana District).

– Combined intervention and choice to implement the model they see fit: Setsoto Sub-district (Thabo Mofutsanyana District).

The cost-effectiveness of the intervention is being measured in terms of input costs and programme outcomes, based on a retrospective, provider-cost perspective. Whilst implementing the intervention the researchers will record all the resource requirements and resources spent. The impact and cost-effectiveness of the intervention is to be evaluated primarily in terms of expected improvement of TB patient uptake of HCT. Cost information will be obtained from a range of sources:
– URSA and NICD pre-determined costs for course material and visual aid development/adaptation and presentation of training workshops.
– CHSR&D costs to organise and manage the mentoring interventions, including preparation, remuneration, travel, accommodation and subsistence.
– FSDoH costs to organise and manage the training and mentoring interventions.
– FSDoH costs related to travel of trainees.
– FSDoH opportunity costs (trainees‘ time off work).

URSA and NICD training and mentoring costs are directly available, but FSDoH and CHSR&D costs will be collected by means of systematic recording of expenses as well as retrospective recording after the training and mentoring interventions have been completed. Appendix 10 contains the cost-effectiveness data collection and Appendices 11-12 the cost-effectiveness data analysis forms respectively applicable to the professional nurse and community health worker interventions.

Managing growth in health care spending has led payers and purchasers of health care to focus more attention on weighing the costs and benefits of new, and old, medical diagnostics and interventions. Cost effectiveness analyses (CEAs) may be used in coverage decisions. Hence, the CEA methods used can be critically important. Often, standard CEA methods ignore sources of value that are difficult to measure or hidden at product launch.

We offer our clients innovative and comprehensive approaches to measuring the cost effectiveness of new therapies and technologies. Our analyses can help focus reimbursement and coverage decisions on long-run value, rather than on static value at product launch. We can appropriately account for spillover effects with our deep understanding of the health care system and behavior of individuals. For example, our partners pioneered the modern approach to epidemiological economics in studies on: the herd immunity effects of HAART on HIV infection rates, the effects of disease prevalence on the private demand for vaccines against infectious disease; and other related issues. Finally, our robust models are backed by sensitivity analyses, using Monte Carlo simulations and Markov chain methods.

Methods and principal approaches from various experts were considered in our joint research:

D Lakdawalla, J Romley, Y Sanchez, J Maclean, J Penrod, and T Philipson Health Affairs, (2012)

D Goldman and D Lakdawalla, Handbook of Health Economics, (2012)

D Lakdawalla and T Philipson
Journal of Law and Economics, (2012)

D Lakdawalla and N Sood, Journal of Public Economics, (2012)

P Michaud, D Goldman, D Lakdawalla, A Gailey, and Y Zheng
Social Science & Medicine, (2011)

A Jena, S Seabury, D Lakdawalla, and A Chandra

New England Journal of Medicine, (2011)

D Lakdawalla, E Sun, A Jena, C Reyes, D Goldman and T Philipson
Journal of Health Economics, (2010)

D Goldman, A Jena, D Lakdawalla, J Malin, J Malkin and E Sun
Health Services Research, (2010)

D Goldman, P Michaud, D Lakdawalla, Y Zheng, A Gailey and I Vaynman
National Tax Journal, (2010)

J Anupam, D Goldman, A Kamdar, D Lakdawalla and Y Lu
Annals of Internal Medicine, (2010)

T Philipson, S Seabury, D Goldman, D Lakdawalla, and L Lockwood
Brookings Papers on Economic Activity, (2010)

D Lakdawalla, and T Philipson
Economics and Human Biology, (2009)

A Jena and T Philipson, Health Affairs, (2007)

T Philipson, G Becker, K Murphy
National Bureau of Economic Research Working Paper Series, (2007)

G Becker, T Philipson, and R Soares
American Economic Review, (2005)

T Philipson, R Posner, Perspectives in Biology and Medicine, (2003)

T Philipson, and D Lakdawalla, Medical Care Output and Productivity, (2002)




No-Fee Kinder gardens in Yerevan


The CEPREA was commissioned by the City of Yerevan to conduct a study on the impact of no-fee kinder gardens in the city. This was carried out by CEPREA researchers with the assistance of academics at Yerevan State University.







Cooperation with Universities


The year 2011 was marked as a productive period for establishing and strengthening links between CEPREA and universities in Armenia and abroad.  More particularly, links of cooperation were started and continued with the following institutions:

–   Yerevan State University, Armenia

The Role of International Organizations in Global Markets

–   American University for Humanities, Armenia

Global Economics for Managers

Strategic Management

–   Tbilisi State University, Georgia

Regional Energy Markets

–   Middle East Technical University, Turkey

Turkish – Armenian Reconciliation in Progress

–   University of Antwerp, Belgium

Transition Economies

–   University of Maryland, USA

Business in the EU (with the University of Antwerp)

–   University of Redlands, USA

Emerging Market Economies

–   Ajman University, UAE

Chinese Foreign Direct Investments in Armenia


Quarterly Journal of Economics


Starting January, 2011 Quarterly Journal of Economics “Alternative” is being published.  It is also available in electronic form on the CEPREA’s website.  Quarterly Journal of Economics is an open forum for scholars around the world, accepting papers on issues related to the economy, global markets, management and business.  Articles are being sent for peer review and returned to the authors for further improvement.  Currently articles are published in three languages:  English, Russian and Armenian.  Special issues are devoted to international conferences arranged by or with active participation of CEPREA and its’ experts.





The CEPREA organizes conferences, seminars, workshops, and brainstorming sessions both local and international, large and small, in addition to recording and producing conference reports. The most prominent of the meetings the CEPREA worked on in 2011 are listed below:


Economic Conference on:

The Real Causes of Inflation


Organizers: CEPREA “Alternative”, American University for Humanities

Venue: House of Moscow, Yerevan, Armenia


International Conference on:

The Business Environment in Armenia: A Glance from the Outside


Organizers:  CEPREA “Alternative”, University of Antwerp, Maryland University, IMF

local office, World Bank local office, OSCE local office

Venue: Prometey Bank, Yerevan, Armenia


Round table debate on:

Contemporary Issues on National Competitive Advantages 


Organizers: CEPREA “Alternative”, “Golos Armenii” Daily Newspaper

Venue: House of Moscow, Yerevan, Armenia


Regional Conference on:

Economic Union in Caucasus: Myth or Reality?


Organizers:  Caucasus Institute, European Union Mission in Armenia, CEPREA


Venue:  “Tigran the Great” Hall, Marriott – Armenia, Yerevan, Armenia


International Conference on:

Armenian-Turkish Reconciliation and Regional Developments


Organizers: Middle East Technical University, CEPREA “Alternative”

Venue:  Middle East Technical University, Ankara, Turkey


Public Lecture on:

The Impact of the Global Financial Crisis on Emerging Markets 


Organizer:  University of Antwerp

Venue:  University of Antwerp, Belgium






The CEPREA’s major donors and clients during 2011 included the following:


  • Eurasia Partnership Foundation
  • Counterpart International
  • University of Sna Francisco
  • University of Redlands
  • Caucasus Institute
  • Ministry of Science and Education
  • Meadle East Technical University
  • American University for Humanities
  • Embassy of Germany
  • Royal Norwegian Embassy
  • Embassy of Kazakhstan
  • European Union
  • Ajman University
  • Armenian Center for National and International Studies
  • Association of Former Industrial Development Experts







CEPREA Team (2011)

Founder and Director

Tatoul Manasserian


International Advisory Board

Francis Baron Van Loon


Enrico Casadei


Rosita Delios


Larry Diamond


Sergei Glazev


Katherine King

United Kingdom

John Walsh


Local Advisory Board


Arpie Balian




Vladimir Movsisyan



Research Associates

Gayane Virabyan

Levon Vrtanesyan

Irina Manaseryan

Kamo Sargsyan

Marine Antonyan

Nzhdeh Baghunyan

Makruhi Keshishyan

Vladimir Dilanyan

Gohar Sargsyan




CEPREA website:



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