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Achieving Stabilization in Armenia

  • Balázs Horváth
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    This paper examines the evolution, and impact on stabilization, of macroeconomic policies in Armenia during 1994-96. Fiscal and monetary policies have been effective in stabilizing the Armenian economy and facilitating significant growth, although they have not always worked in cohort. Seigniorage and the inflation tax declined dramatically as inflation fell, while dollarization was reversed but reached a plateau after mid-1995, affecting the demand for dram. The paper also presents quantitative indicators, which are suggestive of the trends discussed.

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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 98/38.

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    Length: 32
    Date of creation: 01 Mar 1998
    Date of revision:
    Handle: RePEc:imf:imfwpa:98/38
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