Knar Khachatryan, Ph.D.

Associate Professor, BAB Program Chair

Knar Khachatryan joined the CBE in 2013 as an Assistant Professor. She holds a PhD in Management from SKEMA Business School, France, and a double degree of French Doctorate from University of Nice, France.

Prior to joining the AUA, she was a visiting faculty at the French University in Armenia (UFAR). Also she worked at SKEMA Business School as teaching assistant lecturing both in English and French, and administering business simulations. Her scholarly activity focuses on microfinance, financial inclusion, poverty and development studies.
Her recent publications have appeared in Review of Development Economics, Journal of Eastern European Economics, Caucasus Survey, Strategic Change. She has a number of on-going research projects focusing on multidimensional poverty, financial inclusion and regional development.

She is an associate researcher at the Centre for European Research in Microfinance(CERMi), Belgium.
In 2016 and 2018, her articles were nominated among the three finalists for European Microfinance Network (EMN) Research Award. In 2015 her PhD thesis was nominated as the best research on sustainable finance and was awarded SAB Trophy.
Dr. Khachatryan was a Visiting Research Fellow at the Auburn University, Alabama; and Center European Research on Microfinance (CERMi), Belgium.
She has successfully initiated and completed a number of international and local research grant projects such as the Atlas South Caucasus Research Fellowship (FMSH, France), University of Southern California Institute of Armenian Studies (US), ISTC Research Grant (Armenia).
Currently, she is the PI for a two-year EURASIA program which is funded by Norwegian Agency for International Cooperation and Quality Enhancement in Higher Education. The project focuses on Financial Inclusion and is in partnership with University of Adger, Norway.

Higher education

  • Doctorate from University of Nice, France
  • PhD. in Management from SKEMA Business School.
  • MSc in International Business and MSc in Research both from SKEMA Business School
  • BA in Management from French University in Armenia



Khachatryan, K., Baghdasaryan, V., Hartarska, V. (2019), Is the model “loans-plus-savings” better for microfinance in Eastern Europe and Central Asia? A PSM comparison, Review of Development Economicsforthcoming.

Grigoryan, A., Khachatryan, K., Ter-Matevosyan, V. (2019), Armenia-Turkey border opening: What determines the attitude of Armenians, Caucasus Survey 7(1)25-43.

Grigoryan, A., Khachatryan, K. (2018), Remittances and emigration intentions: evidence from Armenia, CERGE-EI WP series 626, ISSN 1211-3298. (currently under review at Journal of Development Studies)

Khachatryan, K., Avetisyan E. (2017), Microfinance Development in Armenia: Sectoral Characteristics and Problems, Strategic Change 26(6), 587–595. DOI: 10.1002/jsc.2169.

Khachatryan, K., Hartarska, V., Grigoryan, A. (2017), Performance and Capital Structure of Microfinance Institutions in Eastern Europe and Central Asia, Journal of Eastern European Economics, 55(5), 395-419.

E-mail[email protected]
Phone: +37460 61 25 68
Office location: 208W (PAB)