Achieving Stabilization in Armenia
Achieving Stabilization in Armenia

Author: Mr.Balázs Horváth

Publisher: International Monetary Fund

Published: 1998-03-01

Total Pages: 33

ISBN-13: 1451845669

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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.

Guiding Principles for Stabilization and Reconstruction
Guiding Principles for Stabilization and Reconstruction

Author: United States Institute of Peace

Publisher: US Institute of Peace Press

Published: 2009

Total Pages: 244

ISBN-13: 1601270461

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Claude Chabrol's second film follows the fortunes of two cousins: Charles, a hard-working student who has arrived in Paris from his small hometown; and Paul, the dedicated hedonist who puts him up. Despite their differences in temperament, the two young men strike up a close friendship, until an attractive woman comes between them.

Toward Integrated Water Resources Management in Armenia
Toward Integrated Water Resources Management in Armenia

Author: Winston Yu

Publisher: World Bank Publications

Published: 2014-10-20

Total Pages: 177

ISBN-13: 1464803382

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This study takes stock of the current water resources management in Armenia, including diagnosing the main sub-sectors (agriculture, urban, environment, and energy), reviewing the institutional framework and implementation status of water-sector policies, identifying the main challenges and making recommendations on the next steps.

Achieving Stabilization in Armenia
Achieving Stabilization in Armenia

Author: Balazs Horvath

Publisher:

Published: 2006

Total Pages: 32

ISBN-13:

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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.

IMF Staff papers, Volume 45 No. 2
IMF Staff papers, Volume 45 No. 2

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1998-01-01

Total Pages: 204

ISBN-13: 1451974167

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This paper analyzes contagion and volatility with imperfect credit markets. The paper interprets contagion effects as an increase in the volatility of shocks impinging on the economy. The implications of this approach are analyzed in a model in which domestic banks borrow at a premium on world capital markets, and domestic producers borrow at a premium from domestic banks. Financial spreads depend on a markup that compensates lenders, in particular, for the expected cost of contract enforcement. Higher volatility increases financial spreads and the producers’ cost of capital.

Monetary Regimes and Inflation
Monetary Regimes and Inflation

Author: Peter Bernholz

Publisher: Edward Elgar Publishing

Published: 2015-04-30

Total Pages: 311

ISBN-13: 1784717630

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Exploring the characteristics of inflations and comparing historical cases from Roman times up to the modern day, this book provides an in depth discussion of the subject. It analyses the high and moderate inflations caused by the inflationary bias of

Republic of Armenia
Republic of Armenia

Author: International Monetary Fund. Middle East and Central Asia Dept.

Publisher: International Monetary Fund

Published: 2015-03-11

Total Pages: 27

ISBN-13: 1484371631

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This Selected Issues paper analyzes scope for further de-dollarization policies in Armenia. High financial dollarization makes Armenia more vulnerable to external shocks and limits its capacity to respond. The de-dollarization strategy is broad and comprehensive, and has achieved a reduction of deposit dollarization during the past few years. Additional efforts should focus on reducing inflation volatility and external imbalances, using prudential regulations to increase foreign currency liquidity in the banking system, and strengthening the monitoring of currency mismatches. International experience suggests, however, that further reductions in dollarization are likely to occur only gradually.