03757nam 2200709Ia 450 991096258290332120251117115406.01-280-08660-297866100866030-585-47293-910.1596/0-8213-5604-6(CKB)111087027997088(OCoLC)53207098(CaPaEBR)ebrary10042825(SSID)ssj0000089101(PQKBManifestationID)11126804(PQKBTitleCode)TC0000089101(PQKBWorkID)10088895(PQKB)10925079(MiAaPQ)EBC3050600(Au-PeEL)EBL3050600(CaPaEBR)ebr10042825(CaONFJC)MIL8660(The World Bank)2003057674(US-djbf)13258369(BIP)46127551(BIP)8796278(EXLCZ)9911108702799708820030701d2003 uy 0engurcn|||||||||txtrdacontentcrdamediacrrdacarrierQuasi-fiscal activities, hidden government subsidies, and fiscal adjustment in Armenia /Lev Freinkman, Gohar Gyulumyan, Artak Kyurumyan1st ed.Washington, D.C. World Bank2003ix, 50 pages illustrations ;26 cmWorld Bank working paper ;no. 16Bibliographic Level Mode of Issuance: Monograph0-8213-5604-6 Includes bibliographical references.Intro -- CONTENTS -- Abstract -- Acknowledgments -- Acronyms and Abbreviations -- Introduction -- Chapter 1. Traditional and Alternative Approaches to the Evaluation of Fiscal Adjustment -- Chapter 2. Quasi-Fiscal Activities in the FSU Countries -- Chapter 3. Armenia: Public Sector Balance and Hidden Deficit -- Chapter 4. Hidden Budget Subsidies, Quasi-Fiscal Subsidies and Contingent Liabilities in Armenia -- Chapter 5. Financing of Hidden Deficit and Ultimate Recipients of Quasi-Fiscal Subsidies -- Chapter 6. Main Policy Conclusions -- ANNEXES -- References -- TABLES -- FIGURES.This paper analyzes quasi-fiscal deficits and subsidies, and their impact on Armenia's fiscal performance in the second part of the 1990s. It also 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.World Bank working paper ;no. 16.Finance, PublicArmenia (Republic)Fiscal policyArmenia (Republic)Budget deficitsArmenia (Republic)Finance, PublicFiscal policyBudget deficits339.5/2/094756Freinkman Lev M1863659Gyulumyan Gohar1866566Kyurumyan Artak1866567MiAaPQMiAaPQMiAaPQBOOK9910962582903321Quasi-fiscal activities, hidden government subsidies, and fiscal adjustment in Armenia4473976UNINA