Ashot Avetisyan

Board Member

Chairman of the Board of Inecobank CJSC Mr. Ashot G. Avetisyan works on this position since 2010 until now.

From 2007 until 2011 he worked at “Nairit Plant” CJSC as advisor to director-general and head of corporate governance methods introduction’s department and intra-division arbitrary; at the same time he continued until now his scientific research for Central Bank of Armenia (CBA), called “Transaction Costs and Financial Mediation in Armenia”.   

From 2005 until 2007 Mr. A.Avetisyan consecutively worked as head of economic research department of the CBA, advisor to the Chairman of the CBA, head of cash money circulation department of the CBA. 

In 1997 – 2005 Mr. A. Avetisyan was member of the CBA’s Council.

In 1996 – 1997 Mr. A. Avetisyan worked as First Deputy Minister of Finance of the Republic of Armenia (RA). 

In 1993 – 1996 he worked as head of econmic department of Armenian government.

In 1992 – 1993 Mr. A.Avetisyan worked as deputy head of economic reforms’ department of Armenian government.

In 1990 – 1992 he worked as head of Armenian government’s department of economy’s and social policy’s state regulation at State committee on economic reforms and privatization.   

In 1970 – 1974 and 1977 – 1990 Mr. A.Avetisyn worked at Yerevan Research Institute of Maths’ Machines, where he rose from technician to head of department.   

In 2004 – 2005 he was deputy charman of Currency Committee of CIS (Coomonwealth of Independent States). Between 1990 until 1997 Mr. A.Avetisyan was member of different state committees; in particular, in 1994 he was appointed to the position of head of special state committee on economic reforms in NKR and since 1996 he represented Ministray of Finance of RA in Inter-agency state committee on privatization.  

Mr. A. Avetisyan was member of several inter-government committees on economic co-operation with Russia, Belarus and Egypt.  

In 1996 – 1997 he represented Armenian government in the CBA – at the beginning as member of CBA’s Council and then as permanent member of the CBA’s Council.

Mr. A. Avetisyan is a full member of Engineering Academy of Armenia and he has more than 60 studies.

In 1989 he has been given senior staff scientist academic rank by specialty “Automatic control systems by economic sectors”. 

In 1984 he defended Candidate's thesis and has been given Candidate of Economic Sciences academic degree (specialty code 08.00.13). 

His first scientific papers have been devoted to the development of logic circuits for hardware control. The main subject of further research of Mr. A.Avetisyan were development of decision models of complex dynamical systems under conditions of great uncertainty. After the period of his post-graduate work in Yerevan Research Institute of Mathematics Machines  from 1977 to 1990 was characterized by works that were of more applied nature. These works are mainly related to development of forecasting models and decision-making about the cost-time and quality parameters of global military Automated Control Systems throughout their life cycle.

Since 1990, in connection with the transition of Mr. A.Avetisyan to work with the Commission on Economic Reforms of the Government of the Republic of Armenia and the further transition to work in the RA Ministry of Finance and the Central Bank until the end of 2007, his activities were mainly of practical and legislative character in which the role of collective publications were performed by regulations, concepts and programs, and the number of scientific publications has been relatively small. This period is characterized by his set of papers in international conferences, symposia and round tables on issues of privatization, stock market, financial markets, banking system, monetary policy and institutional development of the market economy.

In subsequent years till now the direction, seized the entire scope of research and teaching interests of Mr. A. Avetisyan, are studies in the paradigm of the new institutional economics. These include both research of transaction costs of financial intermediation in Armenia, conducted for the CBA, and scientific publications on issues of institutional design in the transition economies, based on representing the direction of institutional economics of property rights and contracting, transaction costs, the new economic history .

Recent scientific publications of Mr. A. Avetisyan dedicated to the identification and analysis of institutional traps, transplantation and mutations of institutions of economic regulation, the development of methods of measuring transaction costs, loss of society’s and state’s profits, as well as practical testing of the proposed methodology on materials collected about interaction of the banking and judicial systems of the RA for the period from 2004 until  2012 including.

Mr. A.Avetisyan has teaching activity’s experience, he taught by hourly system at Yerevan Polytechnic Institute named after K.Marx inn1972 – 1974,  at Yerevan Medical Institute in 1981 – 1984 and in Russian – Armenian (Slavonic) state university in 2005 – 2007.  

In 1974 – 1977 he studied full-time postgraduate course at USSR Academy of Science’s laboratory of system analysis (Moscow).  

Mr. A.Avetisyan got higher education at technical cybernetics department of Yerevan Polytechnic Institute named after K.Marx in 1966 – 1971 by specialty “radio engineering”.   He also completed study at School of Arts named after Sayat-Nove in 1962 and in 1966 he comleted Republican Chess School. 

Mr. A. Avetisyan has never been a member of any party; he was vice-president of Armenian Chess Federation and currently he is a member of the Federation’s Panel.

He became widower in 2009. Mr. A. Avetisyan has a son.