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The modern challenges of fiscal and monetary policy in the Republic of Armenia

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  • Karen S. Sargsyan

Abstract

The article deals with the issues on fiscal and monetary policies and the economic situation in the Republic of Armenia during the crisis and post-crisis period. The analysis shows that although there have been some signs of economic growth in Armenian economy in 2010-2013, however, the main macroeconomic indicators did not return to pre-crisis level and failed to provide long-term sustainable economic growth in the country. It is argued in the article that expansionary fiscal and monetary measures should be taken for sustainable economic growth. The main target of the fiscal policy should be the reduction of the tax burden, while financing the real sector of the economy and supporting a sustainable growth of the economy should be the primary objective of the monetary policy.

Suggested Citation

  • Karen S. Sargsyan, 2017. "The modern challenges of fiscal and monetary policy in the Republic of Armenia," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 115-130,131.
    • Handle: RePEc:bas:econth:y:2017:i:2:p:115-130,131-144
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    References listed on IDEAS

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    1. Martin Feldstein, 1991. "Introduction to "The Risk of Economic Crisis"," NBER Chapters, in: The Risk of Economic Crisis, pages 1-18, National Bureau of Economic Research, Inc.
    2. Martin Feldstein, 1991. "Reducing the Risk of Economic Crisis," NBER Working Papers 3620, National Bureau of Economic Research, Inc.
    3. Martin Feldstein, 1991. "The Risk of Economic Crisis," NBER Books, National Bureau of Economic Research, Inc, number feld91-2.
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    More about this item

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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