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Armenia: The Road to Sustained Rapid Growth-Cross-Country Evidence

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  • Mr. Garbis Iradian

Abstract

This study examines the growth determinants and the economic policy challenges that Armenia faces to sustain the rapid growth of the past two years. The paper also seeks to answer the following two questions: Why has Armenia performed relatively better than other transition economies? What are the roles of macroeconomic policies and the level of financial intermediation in explaining growth differences? The paper also draws upon past cross-country experiences by estimating panel regressions on the determinants of growth to make predictions for the Armenian economy.

Suggested Citation

  • Mr. Garbis Iradian, 2003. "Armenia: The Road to Sustained Rapid Growth-Cross-Country Evidence," IMF Working Papers 2003/103, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2003/103
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    References listed on IDEAS

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    1. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    2. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-963, September.
    3. Fischer, Stanley & Sahay, Ratna & Vegh, Carlos A, 1996. "Economies in Transition: The Beginnings of Growth," American Economic Review, American Economic Association, vol. 86(2), pages 229-233, May.
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    Cited by:

    1. Brian Roberts & Malgorzata Markiewitz & Marjan Nikolov & Aleksandar Stojkov, 2008. "A Study On Determinants And Trends In Remittance Flows In Macedonia," Journal Articles, Center For Economic Analyses, pages 41-61, June.
    2. Mr. Garbis Iradian, 2005. "Inequality, Poverty, and Growth: Cross-Country Evidence," IMF Working Papers 2005/028, International Monetary Fund.
    3. Li, Kui-Wai & Zhou, Xianbo & Pan, Zhewen, 2016. "Cross-country output convergence and growth: Evidence from varying coefficient nonparametric method," Economic Modelling, Elsevier, vol. 55(C), pages 32-41.
    4. Mr. Kevin C Cheng, 2003. "Growth and Recovery in Mongolia During Transition," IMF Working Papers 2003/217, International Monetary Fund.
    5. Mr. Garbis Iradian, 2007. "Rapid Growth in the CIS: Panel Regression Approach," IMF Working Papers 2007/170, International Monetary Fund.

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