Solving Fiscal Problems through Monetary Policy Mechanisms: Case of Armenia
https://doi.org/10.26794/2587-5671-2020-24-6-61-81
Abstract
The problem of fiscal dominance tends to be most pronounced in emerging markets. The research subject is the monetary policy of the Central Bank of the Republic of Armenia and its participation in solving fiscal problems. The aim of the article is to analyze and assess fiscal dominance in the macroeconomic regulation of Armenia. The methodological basis of the study is a review of theoretical and practical models of fiscal dominance known in the scientific literature, as well as applying the most optimal models to the Armenian economy. The authors conclude that the tasks of fiscal policy are the priority of macroeconomic management, and monetary policy aims to solve fiscal problems.
Supporting agencies: The study was funded by a research grant from the Ministry of Education and Science of the Russian Federation. Russian-Armenian University, Yerevan, Armenia
About the Authors
M. A. Voskanyan
Russian-Armenian University
Armenia
Competing Interests: not
Armenia
Mariam A. Voskanyan — Dr. Sci. (Econ.), Assoc. Prof., Head of Department of Economics and Finance.
Yerevan
Competing Interests: not
I. V. Paronyan
Russian-Armenian University
Armenia
Competing Interests: not
Armenia
Lilit V. Paronyan — Bachelor student.
Yerevan
Competing Interests: not
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Review
For citations:
Voskanyan M.A., Paronyan I.V. Solving Fiscal Problems through Monetary Policy Mechanisms: Case of Armenia. Finance: Theory and Practice. 2020;24(6):61-81. https://doi.org/10.26794/2587-5671-2020-24-6-61-81
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