Assessing the Central Bank of Armenia policy under crisis

Abstract

The anti-crisis monetary regulation problem has become extremely relevant in the last two decades, both in developed and developing economies. This article is devoted to the anti-crisis monetary policy analysis and assessment regarding the fundamental basis and its practical application in Armenia. The research subject is the monetary policy of the Central Bank of the Republic of Armenia from the point of view of its efficiency in a down economy. The methodological basis of the research is a review of theoretical and practical models of the monetary policy under crisis, recognized in the scientific literature, as well as its practical application in the developed and developing economies. The main goal of the research is an attempt to identify and assess the monetary policy of the Central Bank of Armenia from the point of view of its practical use over the past two decades. The research finding is the conclusion that under crisis, the monetary policy leads to contraversial results, however generally, is the best option for reducing crisis consequences, in particular, in terms of developing economies, which involve the Republic of Armenia.