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Measuring Structural Reform Effectiveness in a Small Open Economy: the Case of Armenia

Year: 2025

Type: article

Abstract: The research investigates the macroeconomic effects of structural reforms in Armenia using Structural Vector Autoregression (SVAR) models across fiscal, real, monetary, and labor sectors.Empirical findings indicate that reform shocks have a significant impact on tax revenue, investment, productivity, and GDP growth, with the strongest effects observed in the fiscal and real sectors.These results underscore the macroeconomic importance of addressing reform gaps systemically because sustained and well-sequenced reforms enhance growth, stability, and resilience in small open economies like Armenia.

Source: Proceedings on Engineering Sciences

DOI: 10.24874/pes07.03.031

Authors: Tatul M. Mkrtchyan, Narine Petrosyan

Institution: Armenian State University of Economics

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: diamond

OpenAlex ID: W4414816222

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