The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia
The impact of currency regulation on the country’s export potential has been the focus of scientific research and discussion among economists for years. Currency regulation is a backbone element to maintain the competitiveness of the country’s economy, macroeconomic stability, and to stimulate econo...
| Main Authors: | , |
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2020-04-01
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| Series: | Финансы: теория и практика |
| Subjects: | |
| Online Access: | https://financetp.fa.ru/jour/article/view/985 |
| _version_ | 1797878775389618176 |
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| author | E. M. Sandoyan A. G. Galstyan |
| author_facet | E. M. Sandoyan A. G. Galstyan |
| author_sort | E. M. Sandoyan |
| collection | DOAJ |
| description | The impact of currency regulation on the country’s export potential has been the focus of scientific research and discussion among economists for years. Currency regulation is a backbone element to maintain the competitiveness of the country’s economy, macroeconomic stability, and to stimulate economic growth. The aim of this research is to analyse the impact of the exchange rate of the Armenian national currency (dram) on the country’s export potential, as well as the choice of a currency regulation policy stimulating export expansion and economic growth in Armenia. The study employed the methods of statistical and comparative analysis, as well as the construction of logistic assumptions. The authors conducted a statistical analysis of the dynamics and structure of Armenia’s exports by product groups and countries. They revealed that, with the exception of exports to Russia, Armenia’s exports to other countries has a high ratio of raw materials. As known, the exchange rate has the greatest impact on the price competitiveness of finished products in foreign markets. The authors evaluated the impact of currency regulation policy implemented in Armenia on the export potential and competitiveness of Armenian goods, especially in the EAEU markets. The results show that Armenia is not able to maximize its export opportunities due to the uncompetitive exchange rate of the national currency. The key conclusion of the research is the thesis that Armenia should abandon the non-market mechanisms for ensuring exchange rate stability, the Central Bank should immediately shift to a policy of free-floating national currency and non-intervention, which will significantly expand the presence of Armenian finished products in foreign markets, especially in the Russian Federation. |
| first_indexed | 2024-04-10T02:37:28Z |
| format | Article |
| id | doaj.art-feda28744ea74e84863f18dc2f2ebc45 |
| institution | Directory Open Access Journal |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| last_indexed | 2024-04-10T02:37:28Z |
| publishDate | 2020-04-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj.art-feda28744ea74e84863f18dc2f2ebc452023-03-13T07:49:29ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892020-04-012429210310.26794/2587-5671-2020-24-2-92-103772The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of ArmeniaE. M. Sandoyan0A. G. Galstyan1Российско-Армянский университетРоссийско-Армянский университетThe impact of currency regulation on the country’s export potential has been the focus of scientific research and discussion among economists for years. Currency regulation is a backbone element to maintain the competitiveness of the country’s economy, macroeconomic stability, and to stimulate economic growth. The aim of this research is to analyse the impact of the exchange rate of the Armenian national currency (dram) on the country’s export potential, as well as the choice of a currency regulation policy stimulating export expansion and economic growth in Armenia. The study employed the methods of statistical and comparative analysis, as well as the construction of logistic assumptions. The authors conducted a statistical analysis of the dynamics and structure of Armenia’s exports by product groups and countries. They revealed that, with the exception of exports to Russia, Armenia’s exports to other countries has a high ratio of raw materials. As known, the exchange rate has the greatest impact on the price competitiveness of finished products in foreign markets. The authors evaluated the impact of currency regulation policy implemented in Armenia on the export potential and competitiveness of Armenian goods, especially in the EAEU markets. The results show that Armenia is not able to maximize its export opportunities due to the uncompetitive exchange rate of the national currency. The key conclusion of the research is the thesis that Armenia should abandon the non-market mechanisms for ensuring exchange rate stability, the Central Bank should immediately shift to a policy of free-floating national currency and non-intervention, which will significantly expand the presence of Armenian finished products in foreign markets, especially in the Russian Federation.https://financetp.fa.ru/jour/article/view/985экспортный потенциалполитика валютного регулированияобменный курсэкономический рост |
| spellingShingle | E. M. Sandoyan A. G. Galstyan The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia Финансы: теория и практика экспортный потенциал политика валютного регулирования обменный курс экономический рост |
| title | The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia |
| title_full | The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia |
| title_fullStr | The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia |
| title_full_unstemmed | The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia |
| title_short | The Impact of Currency Regulation Policy on the Country’s Export Potential: The Case of Armenia |
| title_sort | impact of currency regulation policy on the country s export potential the case of armenia |
| topic | экспортный потенциал политика валютного регулирования обменный курс экономический рост |
| url | https://financetp.fa.ru/jour/article/view/985 |
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