Quasi-fiscal activities, hidden government subsidies, and fiscal adjustment in Armenia
This paper aims to develop a detailed analysis of quasi-fiscal deficits and subsidies, and their impact on Armenia’s fiscal performance in the second part of the 90-s. Based on the flow-of-funds approach, we estimate the magnitude of the quasi-fiscal deficits and the incidence of quasi-fiscal subsidies in Armenia, as well as identify main recipients and donors of quasi-fiscal financing. The main finding of the paper is that, while quasi-fiscal deficits in Armenia remain considerable, their recent decline has been the main source of fiscal adjustment in Armenia to date. The paper also shows that the population remains a major ultimate recipient of quasi-fiscal subsidies. Thus, the main distortive impact of quasi-fiscal subsidies is on social policy, not on enterprise restructuring and private sector performance.
|Date of creation:||Dec 2002|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- William Easterly, 1999.
"When is fiscal adjustment an illusion?,"
CEPR;CES;MSH, vol. 14(28), pages 55-86, 04.
- Pinto, Brian & Drebentsov, Vladimir & Morozov, Alexander, 2000. "Give growth and macroeconomic stability in Russia a chance - harden budgets by eliminating nonpayments," Policy Research Working Paper Series 2324, The World Bank.
- BalÃ¡zs HorvÃ¡th, 1998. "Achieving Stabilization in Armenia," IMF Working Papers 98/38, International Monetary Fund.
- L.M. Freinkman & I. Starodubrovskaya, 1996.
"Restructuring of Enterprise Social Assets in Russia: Trends, Problems, Possible Solutions,"
wp96052, International Institute for Applied Systems Analysis.
- Freinkman, Lev M. & Starodubrovskaya, Irina, 1996. "Restructuring of enterprise social assets in Russia : trends, problems, possible solutions," Policy Research Working Paper Series 1635, The World Bank.
- Alam, Asad & Sundberg, Mark, 2002. "A decade of fiscal transition," Policy Research Working Paper Series 2835, The World Bank.
- Aleh Tsyvinski & Martin Petri & GÃ¼nther Taube, 2002. "Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union," IMF Working Papers 02/60, International Monetary Fund.
- Brixi, Hana Polackova & Ghanem, Hafez & Islam, Roumeen, 1999. "Fiscal adjustment and contingent government liabilities : case studies of the Czech Republic and Macedonia," Policy Research Working Paper Series 2177, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:10064. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.