Achieving Stabilization in Armenia Balzs Horvth

ISBN: 9786613788467

Published: March 1st 1998

ebook

33 pages


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Achieving Stabilization in Armenia  by  Balzs Horvth

Achieving Stabilization in Armenia by Balzs Horvth
March 1st 1998 | ebook | PDF, EPUB, FB2, DjVu, audiobook, mp3, RTF | 33 pages | ISBN: 9786613788467 | 8.44 Mb

This paper describes the evolution of fiscal and monetary policy during 1994-96, the period during which the Armenian economy was stabilized. The objective is to provide an overview of the stabilization process in a transition economy2MoreThis paper describes the evolution of fiscal and monetary policy during 1994-96, the period during which the Armenian economy was stabilized.

The objective is to provide an overview of the stabilization process in a transition economy2 and--recognizing the paucity of the available data--provide some quantitative evidence. The paper is organized as follows: this section provides general background, while section II contains a discussion of macroeconomic policies and the constraints faced by the government during the phase of stabilizing Armenias economy. Section III presents quantitative results suggestive of the trends discussed in the policy section: impulse indicators for the two primary policy instruments, fiscal and monetary policy- an examination of changes in the level of seigniorage and inflation tax extracted from the economy- and an econometric analysis of dollarization.

Section IV provides a brief summary. Finally, three appendices contain technical details underlying the quantitative analysis.



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