ABSTRACT
This chapter deals with the evolution of the party system in post-independence Armenia, with a special focus on political party finance. It attempts to draw conclusions about the potential effects of regulatory changes on the behavior of political parties and the dynamics of the political party system in Armenia. The analysis of political party funding regulations in Armenia shows that, until the 2020 legislative reform, some areas remained underregulated with vague provisions containing significant gaps. Thus, reporting requirements, oversight, and penalties remained generally weak, unclear and full of regulatory loopholes. From the point of view of the consequences of party funding regulations, and specifically public funding, one can say that state subsidies did help in general to stabilize the party system, but there were other factors at play as well (e.g., electoral system, model of government).
