Freinkman, Lev; Gyulumyan, Gohar; Kyurumyan, Artak - Economics Research, World Bank Group
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 1990s. Based on the flow-of-funds approach, we estimate the magnitude of the quasi-fiscal deficits and the incidence of quasi-fiscal...