Armenia : Growth Challenges and Government Policies, Volume 2. Main Report

This report reviews growth trends in Armenia for the period 1994-2000, outlines major weaknesses of existing development patterns, and suggests a package of policy recommendations designed to accelerate enterprise restructuring, attract investment, and encourage the creation of new businesses in the medium term (three to five years). Such steps are needed to systain (and preferably to increase) the current growth rates, to stop emigration among the young and skilled, and to reduce poverty. The government needs to focus much more clearly on generating the environment for private sector led growth by removing bottlenecks in policies, infrastructure, and institutions that prevent new private businesses from flourishing. International aid donors can help by supporting the removal of administrative barriers for investments, the rehabilitation of infrastructure, and the creation of "restructuring agencies" that will enable firms in key sectors to overcome or avoid common constraints to business growth in Armenia. Successful restructuring by such firms should have a demonstration effect on the country's economy and help consolidate public support for moving forward the program of reform begun a decade ago.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2001-11-30
Subjects:	GOVERNMENT POLICY, BUSINESS ENVIRONMENT, PRIVATE SECTOR DEVELOPMENT, INTERNATIONAL AID, RESTRUCTURING, PRIVATE INVESTMENTS, INFORMAL SECTOR, GOVERNMENT EMPLOYEES, ENTERPRISE RESTRUCTURING, ENTREPRENEURS, SMALL & MEDIUM SCALE ENTERPRISES, PUBLIC ENTERPRISES, LIQUIDATION, BANKRUPTCY, CORPORATE GOVERNANCE, RECOMBINATION, FAMILY PRODUCTION UNIT, MICROENTERPRISES, STAGNATION (ECONOMICS), BORROWING COSTS, DEREGULATION, LAND MARKETS, PUBLIC SERVICES, LICENCES, TAX SIMPLIFICATION, TAX ADMINISTRATION, CUSTOMS ADMINISTRATION ADMINISTRATIVE BARRIERS, AGRICULTURE, ANNUAL GROWTH, BUDGET CONSTRAINT, BUDGET DEFICIT, BUDGET DEFICITS, CENTRAL BANK, COMPARATIVE ADVANTAGES, COMPARATIVE ANALYSIS, COMPETITIVENESS, CONSUMER GROUPS, CONSUMER PRICE INDEX, CPI, CURRENCY APPRECIATION, DEBT, DEFICIT FINANCING, DEVALUATION, DIRECT INVESTMENT, DOMESTIC INFLATION, ECONOMIC ACTIVITIES, ECONOMIC ACTIVITY, ECONOMIC COOPERATION, ECONOMIC DEVELOPMENT, ECONOMIC EXPANSION, ECONOMIC GROWTH, ECONOMIC THEORY, EDUCATED PEOPLE, ELECTRICITY DEMAND, ENERGY CONSUMPTION, EXCHANGE RATE, EXPORT GROWTH, EXPORT PROMOTION, EXPORTS, EXTERNAL SOURCES, FINANCIAL CRISIS, FINANCIAL DEPTH, FINANCIAL SECTOR, FISCAL ADJUSTMENT, FISCAL BALANCE, FISCAL DEFICIT, FOREIGN EXCHANGE, FOREIGN EXCHANGE REGIME, FOREIGN INVESTORS, FREE TRADE, GDP, GLOBAL ECONOMY, GROSS DOMESTIC PRODUCT, GROWTH PATH, GROWTH PERFORMANCE, GROWTH PROSPECTS, GROWTH RATE, GROWTH RATES, GROWTH THEORY, HIGH GROWTH, HIGH GROWTH RATE, HIGH INEQUALITY, HUMAN CAPITAL, IMPORTS, INCOME, INCOME LEVELS, INEQUALITY, INFLATION, INFLATION RATE, INSTITUTIONAL ARRANGEMENTS, INSTITUTIONAL REFORMS, INSTITUTIONAL WEAKNESSES, INTEREST RATES, INTERNATIONAL RESERVES, LABOR FORCE, LABOR MARKET, LIQUIDITY, LIVING STANDARDS, LOCAL BUSINESS, LOW INFLATION, MACROECONOMIC MANAGEMENT, MACROECONOMIC PERFORMANCE, MACROECONOMIC POLICIES, MACROECONOMIC POLICY, MACROECONOMIC STABILIZATION, MARKET COMPETITION, MEDIUM TERM, MONETARY POLICY, MONETARY SUPPLY, NATURAL ENDOWMENTS, NEGATIVE IMPACT, OIL, PARLIAMENT, PERFORMANCE CATEGORIES, POLICY PACKAGE, POLICY REFORMS, POVERTY REDUCTION, PRICE CHANGES, PRIME MINISTER, PRODUCTIVITY, PUBLIC ASSISTANCE, PUBLIC DEBT, PUBLIC EXPENDITURES, PUBLIC SECTOR, PURCHASING POWER, PURCHASING POWER PARITY, REAL EXCHANGE RATE, REAL EXCHANGE RATES, REAL GDP, REAL GROWTH, REAL INTEREST RATES, REFORM PROGRAM, SECTORAL POLICIES, SHARP REDUCTION, SIGNIFICANT REDUCTIONS, SOCIAL PROTECTION, STABILIZATION POLICIES, STRUCTURAL ADJUSTMENT, SUSTAINABLE GROWTH, TIGHT MONETARY POLICY, TRADE REGIME, TRANSITION ECONOMIES, TRANSPARENCY, TREASURY BILLS, UNEMPLOYMENT, VALUE ADDED, VOTERS, WAGES, WHOLESALE PRICES, WORLD TRADE ORGANIZATION, WTO,
Online Access:	http://documents.worldbank.org/curated/en/2001/11/1631762/armenia-growth-challenges-government-policies-vol-2-2-main-report https://hdl.handle.net/10986/15451
Tags:	Add Tag No Tags, Be the first to tag this record!