This study examines the growth determinants and the economic policy challenges that Armenia faces to sustain the rapid … growth of the past two years. The paper also seeks to answer the following two questions: Why has Armenia performed …

estimate a New Keynesian Phillips curve for Armenia, suggesting a significant role of the output gap and inflation expectations … the cyclically-adjusted fiscal balance. Most of Armenia’s fiscal deficit is found to be structural. Fiscal policy, while …

Despite recording double digit growth since 2000, Armenia''s tax-to-GDP ratio has been fairly stable at about 141 …⁄2 percent. This paper catalogues a range of factors that may account for Armenia''s stubbornly for tax collection by … benchmarking Armenia''s tax-to-GDP against some comparator countries and conducting an extensive econometric study of the main …

This paper reviews the current monetary and exchange rate policy frameworks in Armenia and Georgia, and the challenges …

This paper examines monetary policy transmission in Armenia in light of the authorities'' intention to shift to an …

growth, financial intermediation in Armenia has lagged behind other transition countries, and interest rate spreads have … interest rate spreads and margins in Armenia using a bank-level panel dataset for the period 2002 to 2006. We find that bank …

The significant real exchange rate appreciation in Armenia and Georgia since 2003, coupled with persistent current …