Armenia : Implications of the Global Economic Crisis for Poverty

The global economic crisis seriously threatens the economic growth and poverty reduction that Armenia achieved in recent years. The most recent data indicate that the economy is now shrinking, with prospects worsening in 2009 and 2010 when the full...

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Bibliographic Details
Main Author: World Bank
Format: Other Poverty Study
Language:English
Published: World Bank 2012
Subjects:
TAX
Online Access:http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20091022233344
http://hdl.handle.net/10986/3119
id okr-10986-3119
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ABSOLUTE POVERTY
ACCOUNTING
AGGREGATE POVERTY
AGRICULTURAL EMPLOYMENT
AGRICULTURAL OUTPUT
AGRICULTURAL SECTOR
ASSET VALUES
BALANCE OF PAYMENTS
BANKING SECTOR
BENEFICIARIES
CAPITAL FLOWS
CAPITAL INFLOWS
CENTRAL BANK
CHANGES IN POVERTY
CHECKS
COMMERCIAL BANKS
COMMODITY PRICES
CONSUMER GOODS
CONSUMER PRICE INDEX
CONSUMPTION BASKET
CONSUMPTION GROWTH
COUNTRY LEVEL
CREDIT MARKET
CREDIT MARKETS
DATA AVAILABILITY
DEVALUATION
DEVELOPING COUNTRIES
DEVELOPMENT ECONOMICS
DEVELOPMENT INDICATORS
DEVELOPMENT REPORT
DEVELOPMENT RESEARCH
DOMESTIC CREDIT
ECONOMIC CONDITIONS
ECONOMIC DOWNTURNS
ECONOMIC GROWTH
ECONOMIC SHOCKS
ECONOMICS LETTERS
EDUCATIONAL ATTAINMENT
EMPLOYMENT OPPORTUNITIES
EXCHANGE RATE
EXCHANGE RATES
EXPORT MARKETS
EXTREME POVERTY
EXTREME POVERTY LINE
FAMILY INCOMES
FAMILY MEMBERS
FINANCES
FINANCIAL CRISES
FINANCIAL CRISIS
FINANCIAL MARKETS
FINANCIAL SHOCK
FOOD PRICES
FOREIGN BANKS
FOREIGN CAPITAL
FOREIGN DIRECT INVESTMENT
FOREIGN DIRECT INVESTMENTS
FOREIGN FINANCIAL INSTITUTIONS
FOREIGN INVESTMENT
GOVERNMENT REVENUES
GROWTH ELASTICITY
GROWTH PROCESS
GROWTH PROSPECTS
GROWTH RATE
GROWTH RATES
HEADCOUNT POVERTY
HIGH INEQUALITY
HIGH INEQUALITY DEVELOPMENT COUNTRIES
HOST COUNTRIES
HOUSEHOLD CONSUMPTION
HOUSEHOLD DATA
HOUSEHOLD HEAD
HOUSEHOLD INCOME
HOUSEHOLD LEVEL DATA
HOUSEHOLD LIVING STANDARDS
HOUSEHOLD SURVEY
HOUSEHOLD WELFARE
HOUSING
HUMAN DEVELOPMENT
IMPACT ON POVERTY
INCIDENCE OF POVERTY
INDUSTRIAL SECTOR
INEQUALITY
INEQUALITY RELATIONSHIP
INFLATION
INSURANCE
INTERNATIONAL CAPITAL
INTERNATIONAL CAPITAL MARKETS
INVESTMENT ACTIVITIES
LABOR MARKET
LABOR MARKET PROGRAMS
LABOR MARKETS
LIVING STANDARD
LOANS TO COUNTRIES
LOCAL CURRENCY
LOW-INCOME COUNTRIES
MACROECONOMIC DATA
MEAN INCOME
MIGRANT LABOR
MONETARY FUND
MONEY TRANSFERS
NATIONAL ACCOUNTS
NATIONAL POVERTY
NEGATIVE EFFECT
NUTRITION
OUTPUT GROWTH
OUTREACH CAMPAIGNS
PENSIONS
PER CAPITA CONSUMPTION
POLICY MAKERS
POLICY RESEARCH
POLICY RESPONSES
POOR
POOR COMMUNITIES
POOR FAMILIES
POOR HOUSEHOLD
POOR HOUSEHOLDS
POOR PEOPLE
POOR POPULATION
POPULATION GROUP
POVERTY ASSESSMENT
POVERTY DECLINE
POVERTY ESTIMATES
POVERTY GAP
POVERTY IMPACT
POVERTY INCIDENCE
POVERTY INCREASE
POVERTY INCREASES
POVERTY INDICES
POVERTY LEVELS
POVERTY LINE
POVERTY LINES
POVERTY LINKAGES
POVERTY MEASURES
POVERTY PROFILE
POVERTY RATES
POVERTY REDUCTION
POVERTY SEVERITY
POVERTY STATUS
POVERTY THRESHOLD
PRICE CHANGE
PRICE CHANGES
PRIVATE CAPITAL
PRIVATE TRANSFERS
PRO-POOR
PROGRAMMATIC POVERTY ASSESSMENT
PUBLIC SPENDING
PUBLIC WORKS
PUBLIC WORKS PROGRAMS
PURCHASING POWER
REDUCTION IN POVERTY
REFORM EFFORTS
REFORM PROGRAMS
REGIONAL AVERAGE
RELATIVE PRICES
REMITTANCE
REMITTANCES
RETURNS
RISK MANAGEMENT
RURAL
RURAL AREAS
SAFETY NET
SAFETY NET PROGRAMS
SAVINGS
SCHOOL ATTENDANCE
SECTORAL COMPOSITION
SOCIAL PROTECTION
SOCIAL SAFETY NETS
SUBSISTENCE
TARGETING
TAX
TOTAL POVERTY
TOTAL POVERTY LINE
TRADING
TRANSACTION
TRANSACTION COSTS
UNEMPLOYMENT
URBAN AREAS
URBAN WORKERS
VULNERABLE HOUSEHOLDS
spellingShingle ABSOLUTE POVERTY
ACCOUNTING
AGGREGATE POVERTY
AGRICULTURAL EMPLOYMENT
AGRICULTURAL OUTPUT
AGRICULTURAL SECTOR
ASSET VALUES
BALANCE OF PAYMENTS
BANKING SECTOR
BENEFICIARIES
CAPITAL FLOWS
CAPITAL INFLOWS
CENTRAL BANK
CHANGES IN POVERTY
CHECKS
COMMERCIAL BANKS
COMMODITY PRICES
CONSUMER GOODS
CONSUMER PRICE INDEX
CONSUMPTION BASKET
CONSUMPTION GROWTH
COUNTRY LEVEL
CREDIT MARKET
CREDIT MARKETS
DATA AVAILABILITY
DEVALUATION
DEVELOPING COUNTRIES
DEVELOPMENT ECONOMICS
DEVELOPMENT INDICATORS
DEVELOPMENT REPORT
DEVELOPMENT RESEARCH
DOMESTIC CREDIT
ECONOMIC CONDITIONS
ECONOMIC DOWNTURNS
ECONOMIC GROWTH
ECONOMIC SHOCKS
ECONOMICS LETTERS
EDUCATIONAL ATTAINMENT
EMPLOYMENT OPPORTUNITIES
EXCHANGE RATE
EXCHANGE RATES
EXPORT MARKETS
EXTREME POVERTY
EXTREME POVERTY LINE
FAMILY INCOMES
FAMILY MEMBERS
FINANCES
FINANCIAL CRISES
FINANCIAL CRISIS
FINANCIAL MARKETS
FINANCIAL SHOCK
FOOD PRICES
FOREIGN BANKS
FOREIGN CAPITAL
FOREIGN DIRECT INVESTMENT
FOREIGN DIRECT INVESTMENTS
FOREIGN FINANCIAL INSTITUTIONS
FOREIGN INVESTMENT
GOVERNMENT REVENUES
GROWTH ELASTICITY
GROWTH PROCESS
GROWTH PROSPECTS
GROWTH RATE
GROWTH RATES
HEADCOUNT POVERTY
HIGH INEQUALITY
HIGH INEQUALITY DEVELOPMENT COUNTRIES
HOST COUNTRIES
HOUSEHOLD CONSUMPTION
HOUSEHOLD DATA
HOUSEHOLD HEAD
HOUSEHOLD INCOME
HOUSEHOLD LEVEL DATA
HOUSEHOLD LIVING STANDARDS
HOUSEHOLD SURVEY
HOUSEHOLD WELFARE
HOUSING
HUMAN DEVELOPMENT
IMPACT ON POVERTY
INCIDENCE OF POVERTY
INDUSTRIAL SECTOR
INEQUALITY
INEQUALITY RELATIONSHIP
INFLATION
INSURANCE
INTERNATIONAL CAPITAL
INTERNATIONAL CAPITAL MARKETS
INVESTMENT ACTIVITIES
LABOR MARKET
LABOR MARKET PROGRAMS
LABOR MARKETS
LIVING STANDARD
LOANS TO COUNTRIES
LOCAL CURRENCY
LOW-INCOME COUNTRIES
MACROECONOMIC DATA
MEAN INCOME
MIGRANT LABOR
MONETARY FUND
MONEY TRANSFERS
NATIONAL ACCOUNTS
NATIONAL POVERTY
NEGATIVE EFFECT
NUTRITION
OUTPUT GROWTH
OUTREACH CAMPAIGNS
PENSIONS
PER CAPITA CONSUMPTION
POLICY MAKERS
POLICY RESEARCH
POLICY RESPONSES
POOR
POOR COMMUNITIES
POOR FAMILIES
POOR HOUSEHOLD
POOR HOUSEHOLDS
POOR PEOPLE
POOR POPULATION
POPULATION GROUP
POVERTY ASSESSMENT
POVERTY DECLINE
POVERTY ESTIMATES
POVERTY GAP
POVERTY IMPACT
POVERTY INCIDENCE
POVERTY INCREASE
POVERTY INCREASES
POVERTY INDICES
POVERTY LEVELS
POVERTY LINE
POVERTY LINES
POVERTY LINKAGES
POVERTY MEASURES
POVERTY PROFILE
POVERTY RATES
POVERTY REDUCTION
POVERTY SEVERITY
POVERTY STATUS
POVERTY THRESHOLD
PRICE CHANGE
PRICE CHANGES
PRIVATE CAPITAL
PRIVATE TRANSFERS
PRO-POOR
PROGRAMMATIC POVERTY ASSESSMENT
PUBLIC SPENDING
PUBLIC WORKS
PUBLIC WORKS PROGRAMS
PURCHASING POWER
REDUCTION IN POVERTY
REFORM EFFORTS
REFORM PROGRAMS
REGIONAL AVERAGE
RELATIVE PRICES
REMITTANCE
REMITTANCES
RETURNS
RISK MANAGEMENT
RURAL
RURAL AREAS
SAFETY NET
SAFETY NET PROGRAMS
SAVINGS
SCHOOL ATTENDANCE
SECTORAL COMPOSITION
SOCIAL PROTECTION
SOCIAL SAFETY NETS
SUBSISTENCE
TARGETING
TAX
TOTAL POVERTY
TOTAL POVERTY LINE
TRADING
TRANSACTION
TRANSACTION COSTS
UNEMPLOYMENT
URBAN AREAS
URBAN WORKERS
VULNERABLE HOUSEHOLDS
World Bank
Armenia : Implications of the Global Economic Crisis for Poverty
geographic_facet Europe and Central Asia
Eastern Europe
Commonwealth of Independent States
Asia
Armenia
description The global economic crisis seriously threatens the economic growth and poverty reduction that Armenia achieved in recent years. The most recent data indicate that the economy is now shrinking, with prospects worsening in 2009 and 2010 when the full impact of the crisis is expected to unfold. These developments are a setback for Armenia after a decade of nearly double-digit growth and substantial poverty reduction. Depending on the depth of the crisis in Armenia, in its main trading partners, and in its migrant workers' host countries, and depending on the effectiveness of policy responses, the crisis could have a protracted negative effect on Armenians' living standards. The economic downturn, coming on the heels of the food and fuel price increases last year, will have particularly difficult consequences for the poor and vulnerable who have limited coping means to deal with these successive shocks. The note identifies the main channels of transmission to households of the current global economic crisis and estimates its potential impact on poverty in Armenia. Given uncertainties regarding the scale of the crisis and how households are likely to cope, the note is intended to provide indicative estimates of the poverty impact of the crisis, rather than precise estimates. These estimates are made by simulating the effects of the anticipated slowdown on household consumption using data from the 2007 Integrated Living Conditions Survey (ILCS). The key messages that come out of the analysis are that the crisis will have potentially serious implications for poverty and that this calls for significant responses by the Government of Armenia and its development partners. The government is taking a number of steps to provide protection to the poor, including the protection of public spending on social protection and other pro-poor programs and to improve the targeting efficiency of the programs. These measures should help lessen the impact of the crisis on the poor and the vulnerable.
format Economic & Sector Work :: Other Poverty Study
author World Bank
author_facet World Bank
author_sort World Bank
title Armenia : Implications of the Global Economic Crisis for Poverty
title_short Armenia : Implications of the Global Economic Crisis for Poverty
title_full Armenia : Implications of the Global Economic Crisis for Poverty
title_fullStr Armenia : Implications of the Global Economic Crisis for Poverty
title_full_unstemmed Armenia : Implications of the Global Economic Crisis for Poverty
title_sort armenia : implications of the global economic crisis for poverty
publisher World Bank
publishDate 2012
url http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20091022233344
http://hdl.handle.net/10986/3119
_version_ 1764386489465044992
spelling okr-10986-31192021-04-23T14:02:07Z Armenia : Implications of the Global Economic Crisis for Poverty World Bank ABSOLUTE POVERTY ACCOUNTING AGGREGATE POVERTY AGRICULTURAL EMPLOYMENT AGRICULTURAL OUTPUT AGRICULTURAL SECTOR ASSET VALUES BALANCE OF PAYMENTS BANKING SECTOR BENEFICIARIES CAPITAL FLOWS CAPITAL INFLOWS CENTRAL BANK CHANGES IN POVERTY CHECKS COMMERCIAL BANKS COMMODITY PRICES CONSUMER GOODS CONSUMER PRICE INDEX CONSUMPTION BASKET CONSUMPTION GROWTH COUNTRY LEVEL CREDIT MARKET CREDIT MARKETS DATA AVAILABILITY DEVALUATION DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT INDICATORS DEVELOPMENT REPORT DEVELOPMENT RESEARCH DOMESTIC CREDIT ECONOMIC CONDITIONS ECONOMIC DOWNTURNS ECONOMIC GROWTH ECONOMIC SHOCKS ECONOMICS LETTERS EDUCATIONAL ATTAINMENT EMPLOYMENT OPPORTUNITIES EXCHANGE RATE EXCHANGE RATES EXPORT MARKETS EXTREME POVERTY EXTREME POVERTY LINE FAMILY INCOMES FAMILY MEMBERS FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL SHOCK FOOD PRICES FOREIGN BANKS FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTMENT GOVERNMENT REVENUES GROWTH ELASTICITY GROWTH PROCESS GROWTH PROSPECTS GROWTH RATE GROWTH RATES HEADCOUNT POVERTY HIGH INEQUALITY HIGH INEQUALITY DEVELOPMENT COUNTRIES HOST COUNTRIES HOUSEHOLD CONSUMPTION HOUSEHOLD DATA HOUSEHOLD HEAD HOUSEHOLD INCOME HOUSEHOLD LEVEL DATA HOUSEHOLD LIVING STANDARDS HOUSEHOLD SURVEY HOUSEHOLD WELFARE HOUSING HUMAN DEVELOPMENT IMPACT ON POVERTY INCIDENCE OF POVERTY INDUSTRIAL SECTOR INEQUALITY INEQUALITY RELATIONSHIP INFLATION INSURANCE INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INVESTMENT ACTIVITIES LABOR MARKET LABOR MARKET PROGRAMS LABOR MARKETS LIVING STANDARD LOANS TO COUNTRIES LOCAL CURRENCY LOW-INCOME COUNTRIES MACROECONOMIC DATA MEAN INCOME MIGRANT LABOR MONETARY FUND MONEY TRANSFERS NATIONAL ACCOUNTS NATIONAL POVERTY NEGATIVE EFFECT NUTRITION OUTPUT GROWTH OUTREACH CAMPAIGNS PENSIONS PER CAPITA CONSUMPTION POLICY MAKERS POLICY RESEARCH POLICY RESPONSES POOR POOR COMMUNITIES POOR FAMILIES POOR HOUSEHOLD POOR HOUSEHOLDS POOR PEOPLE POOR POPULATION POPULATION GROUP POVERTY ASSESSMENT POVERTY DECLINE POVERTY ESTIMATES POVERTY GAP POVERTY IMPACT POVERTY INCIDENCE POVERTY INCREASE POVERTY INCREASES POVERTY INDICES POVERTY LEVELS POVERTY LINE POVERTY LINES POVERTY LINKAGES POVERTY MEASURES POVERTY PROFILE POVERTY RATES POVERTY REDUCTION POVERTY SEVERITY POVERTY STATUS POVERTY THRESHOLD PRICE CHANGE PRICE CHANGES PRIVATE CAPITAL PRIVATE TRANSFERS PRO-POOR PROGRAMMATIC POVERTY ASSESSMENT PUBLIC SPENDING PUBLIC WORKS PUBLIC WORKS PROGRAMS PURCHASING POWER REDUCTION IN POVERTY REFORM EFFORTS REFORM PROGRAMS REGIONAL AVERAGE RELATIVE PRICES REMITTANCE REMITTANCES RETURNS RISK MANAGEMENT RURAL RURAL AREAS SAFETY NET SAFETY NET PROGRAMS SAVINGS SCHOOL ATTENDANCE SECTORAL COMPOSITION SOCIAL PROTECTION SOCIAL SAFETY NETS SUBSISTENCE TARGETING TAX TOTAL POVERTY TOTAL POVERTY LINE TRADING TRANSACTION TRANSACTION COSTS UNEMPLOYMENT URBAN AREAS URBAN WORKERS VULNERABLE HOUSEHOLDS The global economic crisis seriously threatens the economic growth and poverty reduction that Armenia achieved in recent years. The most recent data indicate that the economy is now shrinking, with prospects worsening in 2009 and 2010 when the full impact of the crisis is expected to unfold. These developments are a setback for Armenia after a decade of nearly double-digit growth and substantial poverty reduction. Depending on the depth of the crisis in Armenia, in its main trading partners, and in its migrant workers' host countries, and depending on the effectiveness of policy responses, the crisis could have a protracted negative effect on Armenians' living standards. The economic downturn, coming on the heels of the food and fuel price increases last year, will have particularly difficult consequences for the poor and vulnerable who have limited coping means to deal with these successive shocks. The note identifies the main channels of transmission to households of the current global economic crisis and estimates its potential impact on poverty in Armenia. Given uncertainties regarding the scale of the crisis and how households are likely to cope, the note is intended to provide indicative estimates of the poverty impact of the crisis, rather than precise estimates. These estimates are made by simulating the effects of the anticipated slowdown on household consumption using data from the 2007 Integrated Living Conditions Survey (ILCS). The key messages that come out of the analysis are that the crisis will have potentially serious implications for poverty and that this calls for significant responses by the Government of Armenia and its development partners. The government is taking a number of steps to provide protection to the poor, including the protection of public spending on social protection and other pro-poor programs and to improve the targeting efficiency of the programs. These measures should help lessen the impact of the crisis on the poor and the vulnerable. 2012-03-19T17:24:55Z 2012-03-19T17:24:55Z 2009-09-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20091022233344 http://hdl.handle.net/10986/3119 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Other Poverty Study Europe and Central Asia Eastern Europe Commonwealth of Independent States Asia Armenia