Achieving Stabilization in Armenia
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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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