Armenia: The Road to Sustained Rapid Growth-Cross-Country Evidence

Garbis Iradian

No 2003/103, IMF Working Papers from International Monetary Fund

Abstract: 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 relatively better than other transition economies? What are the roles of macroeconomic policies and the level of financial intermediation in explaining growth differences? The paper also draws upon past cross-country experiences by estimating panel regressions on the determinants of growth to make predictions for the Armenian economy.

Keywords: WP; GDP; Armenia; broad money; investment; economic growth; financial intermediation; transition economy; investment share; market economy; investment ratio; resource allocation; private sector development; growth in Armenia; Monetary base; Total factor productivity; Foreign direct investment; Government debt management; Human capital; Baltics (search for similar items in EconPapers)
Pages: 22
Date: 2003-05-01
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Citations: View citations in EconPapers (6)

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