Achieving Stabilization in Armenia

Author/Editor:

Balázs Horváth

Publication Date:

March 1, 1998

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 1998/038

Subject:

Exchange rates Expenditure Fiscal policy Foreign exchange Inflation Monetary base Money Prices

English

Publication Date:

March 1, 1998

ISBN/ISSN:

9781451845662/1018-5941

Stock No:

WPIEA0381998

Pages:

32

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