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Quasi-fiscal activities, hidden government subsidies, and fiscal adjustment in Armenia /

By: Contributor(s): Material type: TextTextSeries: World Bank working paper ; no. 16Publication details: Washington, D.C. : The World Bank, c2003.Description: ix, 50 p. :illISBN:
  • 0821356046 (pbk.)
  • 9780821356043
Subject(s): DDC classification:
  • 336.3 FRE
LOC classification:
  • HJ1302.2 .F74 2003
Summary: This publication analyses quasi-fiscal deficits and subsidies, and their impact on Armenia's fiscal performance in the second part of the 1990s. In addition, it discusses the specific features of quasi-fiscal financing in transition economies. Estimates of Armenia's actuarial and hidden deficits in the second part of the 1990s shows that its deficits were relatively modest compared to similar economies. While these deficits remain, they have declined recently, becoming the main source of fiscal adjustment in Armenia. This study also presents a comprehensive picture of subsidization in Armenia, including hidden and quasi-fiscal subsidies that were a primary cause of the hidden deficit. The paper shows the ultimate sources and main beneficiaries of these subsidies. It concludes that the main distortive impact of quasi-fiscal subsidies is on social policy, not on enterprise restructuring and private sector performance.
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Holdings
Item type Current library Collection Call number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 336.3 FRE (Browse shelf(Opens below)) Available 31008100087770

Includes bibliographical references: p. 49-50.

This publication analyses quasi-fiscal deficits and subsidies, and their impact on Armenia's fiscal performance in the second part of the 1990s. In addition, it discusses the specific features of quasi-fiscal financing in transition economies. Estimates of Armenia's actuarial and hidden deficits in the second part of the 1990s shows that its deficits were relatively modest compared to similar economies. While these deficits remain, they have declined recently, becoming the main source of fiscal adjustment in Armenia.

This study also presents a comprehensive picture of subsidization in Armenia, including hidden and quasi-fiscal subsidies that were a primary cause of the hidden deficit. The paper shows the ultimate sources and main beneficiaries of these subsidies. It concludes that the main distortive impact of quasi-fiscal subsidies is on social policy, not on enterprise restructuring and private sector performance.

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