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Abstract

This paper aims to develop a detailed analysis of quasi-fiscal deficits and subsidies, and their impact on Armenia’s fiscal performance in the second part of the 90-s. Based on the flow-of-funds approach, we estimate the magnitude of the quasi-fiscal deficits and the incidence ofquasi-fiscal subsidies in Armenia, as well as identify main recipients and donors of quasi-fiscal financing. The main finding of the paper is that, while quasi-fiscal deficits in Armenia remain considerable, their recent decline has been the main source of fiscal adjustment in Armenia todate. The paper also shows that the population remains a major ultimate recipient of quasi-fiscal subsidies. Thus, the main distortive impact of quasi-fiscal subsidies is on social policy, not on enterprise restructuring and private sector performance.



Item Type: MPRA Paper -

Original Title: Quasi-fiscal activities, hidden government subsidies, and fiscal adjustment in Armenia-

Language: English-

Keywords: Armenia, subsidies, fiscal adjustment, quasi-fiscal deficit, losses in the energy sector-

Subjects: H - Public Economics > H6 - National Budget, Deficit, and Debt > H62 - Deficit ; SurplusH - Public Economics > H2 - Taxation, Subsidies, and Revenue > H20 - GeneralP - Economic Systems > P3 - Socialist Institutions and Their Transitions > P35 - Public EconomicsH - Public Economics > H8 - Miscellaneous Issues > H81 - Governmental Loans ; Loan Guarantees ; Credits ; Grants ; Bailouts-





Autor: Freinkman, Lev

Fuente: https://mpra.ub.uni-muenchen.de/10064/







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