Third international conference on transformative economy opens at YSU

The Third International Conference "Transformative Economy: Green Transition, Institutional Quality and Value Creation" has opened at the Yerevan State University Faculty of Economics and Management. The event is jointly organized by the YSU Faculty of Economics and Management and The Regional Science Academy.

Conference objectives and international scope

The conference aims to provide a platform for presenting innovative research findings, fostering academic discussion and exchanging experience. It also seeks to promote cooperation among researchers, practitioners and policymakers from educational and research institutions worldwide.

YSU Vice-Rector for Scientific Affairs Rafayel Barkhudaryan emphasized that such international academic initiatives are closely linked to the university's vision of strengthening its research focus.

"We regard science and international academic cooperation as key components of our development agenda. Our vision is to strengthen Yerevan State University as a research university where high-quality education and advanced research reinforce one another, and where the knowledge created at the university contributes to a knowledge-based economy and society," he said. 

Speaking about the significance and format of the conference, Dean of the YSU Faculty of Economics and Management Karlen Khachatryan said that since 2024, the faculty has aimed to make Yerevan a regular meeting place for scholars and professionals.

"Our goal is not simply to organize an annual conference. We seek to establish an international platform for academic cooperation at the YSU Faculty of Economics and Management, where representatives of different countries and disciplines can exchange knowledge and experience, initiate new research and develop joint projects," Karlen Khachatryan said.

Around 60 scholars and researchers from more than 24 countries have traveled to Armenia to take part in the conference, including participants from the United States, Brazil, France, Italy, Spain, the Netherlands, Morocco, Taiwan, South Korea, Russia, India and other countries.

Presentations are being delivered both in person and online across seven thematic sections. The conference program includes around 150 presentations by Armenian and international scholars and researchers representing 50 universities and research centers. The event brings together representatives of the YSU Faculty of Economics and Management, other Armenian universities and research institutions, as well as professionals from public administration, the financial and banking sectors, and research organizations. Representatives of the Central Bank of Armenia and the Ministry of Economy will also deliver presentations.

Keynote speakers include Nobel laureate Paul Krugman; special guest Caspar van den Berg (Netherlands); Karima Kourtit (Netherlands); and Peter Nijkamp (Netherlands), professor at Erasmus University Rotterdam, Vice-President of the Regional Science Academy (TRSA) and one of the world's top 30 economists. Other speakers include Neil Reid (United States), Abdul Shaban (India), Amit Batabyal (United States), Felix Arion (Romania), Francesca Torrieri (Italy) and other prominent experts in the field.

Nobel laureate Paul Krugman delivered an online presentation on geoeconomics and "weaponized interdependence." He stressed that international trade today should be viewed not only as a source of economic benefits, but also as an instrument of influence and potential conflict.

"We no longer live in the world of 2017. We have to accept that we are now in a different, more tense international environment," Paul Krugman said.

Commenting on changes in the global economy, The Regional Science Academy Vice-President Peter Nijkamp said the world has entered a new and more unpredictable phase.

"We are now living through a period that we might call the 'turbulent twenties.' The world is no longer what we thought it was. If we are moving toward a world of major power blocs, the question arises: where is the rest of the world, and where are smaller countries such as Armenia?" he said.

According to Nijkamp, these changes also require established views of the economy to be reconsidered and new responses to be sought in a rapidly changing geoeconomic environment.

Central Bank of Armenia Deputy Governor Armen Nurbekyan emphasized that issues related to the green transition and institutional quality are no longer purely theoretical matters.

"Fifteen or twenty years ago, we would talk about green transition, institutional quality and similar issues largely as theoretical questions. Today, we actually see their effects on financial stability, the banking system, the insurance sector and the country's overall economic position," he said. 

Addressing the importance of research excellence, he added: "Research excellence can never be in a vacuum. We need people who are actually very active in the international research community."

The conference's opening day also featured remarks by Karen Zakaryan, CEO of the FINARM Association of Financial Market Participants, and John Carruthers, Associate Professor at Cornell University in the United States.

Karen Zakaryan said: "The green transition requires capital. Capital requires trust. Trust requires strong institutions. And all of this requires high-quality analysis. This is exactly where practice and research must meet."

The conference is being held ahead of the 17th meeting of the Conference of the Parties to the UN Convention on Biological Diversity (COP17), which will take place in Yerevan, amid growing international attention to environmental and sustainable development issues in the region.

Contemporary economic challenges

The conference discussions focus on the green and digital transformation of the economy, institutional quality and new approaches to value creation.

A separate thematic track will address the economic impacts of the green transition, low-carbon and climate-resilient development models, as well as biodiversity conservation and opportunities for sustainable economic growth.

Another major area of discussion is ecosystem management and nature-based solutions. Experts will address climate change mitigation and adaptation, strengthening ecosystem resilience, and long-term inclusive development.

The conference will also examine opportunities to improve institutional quality, digital public services and data-driven governance. Participants will also discuss new models of value creation, productivity challenges, and social and territorial inequalities.

The conference will continue through October 9.

Certificates of appreciation were presented for significant support in organizing the event to conference sponsor Evocabank and partner organizations INGO Armenia, the University of Natural Resources and Life Sciences, Vienna (BOKU), Austria's Agency for Education and Internationalisation (OeAD), and the Austrian Partnership Program in Higher Education and Research for Development (APPEAR).