Stabilization policy in post-Soviet Armenia

The paper provides an assessment of Armenian stabilization policy in the 19 90s, drawing upon time series and comparative statistics. The analysis focu ses on: (1) political and economic circumstances that led Armenia to launch an orthodox stabilization program in the mid-1990s; (2) policy mechanisms Armenian authorities used to execute that program; and (3) the impact of st abilization policy on key macroeconomic performance indicators (growth, inf lation, currency stability, personal income, investment, and balance of pay ments). The paper evaluates Armenia's economic performance relative to that of other Soviet successor states and implications of its stabilization str ategy for the country's developmental trajectory. Journal of Economic Liter ature, Classification Numbers: O10, O40, O50.