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Achieving Stabilization in Armenia

Author

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  • Balázs Horváth

Abstract

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.

Suggested Citation

  • Balázs Horváth, 1998. "Achieving Stabilization in Armenia," IMF Working Papers 98/38, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:98/38
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    Cited by:

    1. Lev Freinkman & Gohar Gyulumyan & Artak Kyurumyan, 2003. "Quasi-Fiscal Activities, Hidden Government Subsidies, and Fiscal Adjustment in Armenia," World Bank Publications, The World Bank, number 15074.
    2. World Bank, 2003. "Armenia : Public Expenditure Review," World Bank Other Operational Studies 13926, The World Bank.
    3. World Bank, 2003. "Public Expenditure Review for Armenia," World Bank Publications, The World Bank, number 15086.

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