The Caucasian Tiger : Sustaining Economic Growth in Armenia

This book is intended to explain the factors underlying the stellar growth record that has led to Armenia's emergence as the Caucasian Tiger and to provide policy advice to the Armenian authorities to ensure the continuation of this growth. The book is presented in two parts, with Part I containing the analysis and the policy advice and Part II containing detailed background papers. The attribution for the emergence of Armenia as the Caucasian Tiger lies in the creation of an environment of macroeconomic stability and the determined pursuit of reforms aimed at establishing a market economy that was integrated with the world. This book describes that story. But the central focus of the book remains the reform agenda for the future. It is argued that the continuation of high rates of growth would require building defenses against economic shocks the country may face, and this would entail addressing the key vulnerabilities in today's economy. Thus the book is intended not only as a case study of success in post-Soviet economic transition, but also as a candid piece of policy advice for the Armenian authorities

Bibliographic Details

Main Authors:	Mitra, Saumya, Andrew, Douglas, Gyulumyan, Gohar, Holden, Paul, Kaminski, Bart, Kuznetsov, Yevgeny, Vashakmadze, Ekaterine
Format:	Publication biblioteca
Language:	English en_US
Published:	Washington, DC: World Bank 2007
Subjects:	ACCOUNTABILITY, ALLOCATION, ALLOCATION OF RESOURCES, ANNUAL BUDGET, ANNUAL BUDGET PREPARATION, ANNUAL RATE, BASIC EDUCATION, BUDGET EXECUTION, BUDGET PLAN, CAPITAL ACCUMULATION, CAPITAL EXPENDITURES, CAPITAL INVESTMENT, CAPITAL INVESTMENTS, CAPITAL PROJECTS, CAPITAL SPENDING, CAPITAL STOCK, CENTRAL BANK, CENTRAL GOVERNMENT, CIVIL SERVICE, CIVIL SERVICE REFORM, CLASSIFICATION OF EXPENDITURE, COMPETITIVENESS, CONSTRAINED RESOURCE, CONSUMERS, CONTINGENT LIABILITIES, COST RECOVERY, DEBT, DEBT MANAGEMENT, DEBT SERVICE, DEBT SUSTAINABILITY, DECISION MAKING, DEVELOPMENT STRATEGY, DISTRIBUTION OF WELFARE, DOMESTIC BORROWING, DOMESTIC DEBT, ECONOMIC CLASSIFICATION, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, EDUCATION SPENDING, EDUCATIONAL ATTAINMENT, EFFICIENCY IMPROVEMENTS, EFFICIENCY OF PUBLIC SPENDING, ELECTRICITY, EXPENDITURE MANAGEMENT, EXPENDITURE OUTCOMES, EXPENDITURE POLICIES, EXPENDITURES, EXTERNAL FINANCING, FINANCIAL CRISIS, FINANCIAL PERFORMANCE, FINANCIAL SUPPORT, FINANCING ARRANGEMENTS, FISCAL ADJUSTMENT, FISCAL CONSOLIDATION, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL IMPACT, FISCAL IMPLICATIONS, FISCAL OPERATIONS, FISCAL POSITION, FISCAL RISK, FISCAL RISKS, FISCAL STANCE, FISCAL STRATEGY, GDP, GDP PER CAPITA, GOVERNMENT DEFICIT, GOVERNMENT EMPLOYMENT, GOVERNMENT EXPENDITURE, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, HARD BUDGET CONSTRAINT, HEALTH CARE, HEALTH INSURANCE, HEALTH SECTOR, HEALTH SERVICES, HUMAN CAPITAL, INDEXATION, INEFFICIENCY, INFLATION, INTEREST COSTS, INTEREST PAYMENTS, INTEREST RATES, LABOR TAXES, LIVING STANDARDS, LOCAL GOVERNMENTS, LORENZ CURVE, MACROECONOMIC ANALYSIS, MACROECONOMIC FRAMEWORK, MACROECONOMIC MANAGEMENT, MACROECONOMIC STABILITY, MARKET ECONOMY, MINISTRY OF FINANCE, NATIONAL STRATEGY, NET LENDING, OLD-AGE, OPERATIONAL EFFICIENCY, OPERATIONAL INEFFICIENCIES, PER CAPITA INCOME, PERSONNEL EXPENDITURES, PERSONNEL EXPENSES, POVERTY IMPACT, POVERTY REDUCTION, PRESENT VALUE, PRIVATE INVESTMENT, PRIVATE SECTOR, PRIVATE SPENDING, PRODUCTIVITY, PRODUCTIVITY GROWTH, PROGRAMS, PUBLIC, PUBLIC ACCOUNTABILITY, PUBLIC ADMINISTRATION, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC EMPLOYMENT, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC EXPENDITURE POLICY, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FINANCIAL MANAGEMENT, PUBLIC HEALTH, PUBLIC INTERVENTION, PUBLIC INVESTMENT, PUBLIC INVESTMENTS, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SECTOR BORROWING, PUBLIC SECTOR BORROWING REQUIREMENTS, PUBLIC SECTOR DEFICIT, PUBLIC SECTOR EFFICIENCY, PUBLIC SECTOR PERFORMANCE, PUBLIC SECTOR SPENDING, PUBLIC SERVANTS, PUBLIC SERVICE, PUBLIC SERVICE DELIVERY, PUBLIC SERVICES, PUBLIC SPENDING, PUBLIC SUBSIDIES, PUBLIC WORKS, REAL GROSS DOMESTIC PRODUCT, RECURRENT EXPENDITURE, RESOURCE ALLOCATIONS, RESOURCE CONSTRAINTS, ROAD NETWORK, SANITATION, SANITATION SERVICES, SAVINGS, SECTORAL ALLOCATION, SECTORAL ALLOCATIONS, SERVICE DELIVERY, SERVICE PROVIDERS, SOCIAL ASSISTANCE, SOCIAL INSURANCE, SOCIAL PROTECTION, SOCIAL SECURITY, SPENDING LEVELS, STATE GUARANTEES, STRUCTURE OF REVENUES, SUSTAINABILITY ANALYSIS, TAX, TAX BASE, TAX RATES, TAX REVENUE, TAX REVENUES, TELECOMMUNICATIONS, TOTAL EXPENDITURE, TOTAL EXPENDITURES, TOTAL PUBLIC SECTOR, TRADE LIBERALIZATION, TRANSITION ECONOMIES, UTILITIES, WAGES,
Online Access:	http://documents.worldbank.org/curated/en/2007/01/7496630/caucasian-tiger-sustaining-economic-growth-armenia http://hdl.handle.net/10986/6644
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