MODERN PROBLEMS OF DOLLARIZATION OF ECONOMY IN THE REPUBLIC OF ARMENIA
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Abstract
The current trends, problems and prospects of dollarization limitation of the economy of the Republic of Armenia are presented. The dollarization of the economy has both negative and certain positive sides. On the one hand, a high level of dollarization contributes to the volatility of the exchange rate and the appearance of currency risk. On the other hand, dollarization can help avoid currency and balance of payments crises. The problems that affect to the level of dollarization of the economy are considered. The approximate level of dollarization of economy is evaluated and new directions for dollarization level reduction are proposed, which involves introduction of instruments denominated in national currency, improvement the effectiveness of foreign loans usage and reduction of price uncertainty for market participants.
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