Economic Dependence of Mongolia on Minerals
Economic Dependence of Mongolia on Minerals

Author: Yoshitaka Hosoi

Publisher: Springer Nature

Published: 2022-11-09

Total Pages: 202

ISBN-13: 9811955158

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This book is a compass for resource rich-developing countries, taking Mongolia as a case study. Policy aspects of the development of the mining sector in developing countries such as Mongolia and its impact on the economy and society are reviewed. The book deals with specific industry policies and challenges identified by policy makers, its characteristics and policy recommendations moving forward with an emphasis on the importance of evidence-based policy making (EBPM). It begins with the country’s development strategy and the role of the mining industry, highlighting the fact that major strategic and policy documents still suffer from ambiguity and clear guidance as well as gaps in policy directions. The book also highlights the need for policy makers to improve transparency initiatives. Authors emphasize transparency or lack thereof in mining contracts, taxation, trading, and marketing and provide specific policy recommendations and alternative policy actions. The macroeconomic and social impact of the mining sector and the role of foreign direct investment is also discussed. Particularly, utilizing in-house economic analytical tools, the role and impact of resource revenue management policy in Mongolia is evaluated. Further, the impact of mining projects on the livelihood of local households as well as the importance of obtaining a social license to operate is discussed. This monograph is recommended for readers who want an in-depth comprehensive understanding of the mining sector, EBPM, and key lessons learned in managing natural resources in Mongolia.

Mongolia's Economic Prospects
Mongolia's Economic Prospects

Author: Matthias Helble

Publisher: Asian Development Bank

Published: 2020-06-01

Total Pages: 293

ISBN-13: 9292622498

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This publication examines Mongolia’s recent economic development and outlines reforms that would help the country take advantage of its many opportunities. Mongolia is rich in natural resources and, although landlocked, is well-placed to boost trade with its two giant neighbors. The country needs to diversify its economy beyond mining, enhance economic stability, and increase employment. To maximize Mongolia’s potential the government can improve macroeconomic management, enhance the skill base, and provide hard and soft infrastructure to promote trade and efficient logistics. Governance and institutional reforms are also crucial. The government will need to continue to drive reforms so that they are well implemented and deliver the intended change.

Subjective Lives and Economic Transformations in Mongolia
Subjective Lives and Economic Transformations in Mongolia

Author: Rebecca M. Empson

Publisher: UCL Press

Published: 2020-06-01

Total Pages: 178

ISBN-13: 1787351467

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Almost 10 years ago the mineral-rich country of Mongolia experienced very rapid economic growth, fuelled by China’s need for coal and copper. New subjects, buildings, and businesses flourished, and future dreams were imagined and hoped for. This period of growth is, however, now over. Mongolia is instead facing high levels of public and private debt, conflicts over land and sovereignty, and a changed political climate that threatens its fragile democratic institutions. Subjective Lives and Economic Transformations in Mongolia details this complex story through the intimate lives of five women. Building on long-term friendships, which span over 20 years, Rebecca documents their personal journeys in an ever-shifting landscape. She reveals how these women use experiences of living a ‘life in the gap’ to survive the hard reality between desired outcomes and their actual daily lives. In doing so, she offers a completely different picture from that presented by economists and statisticians of what it is like to live in this fluctuating extractive economy.

Enhancing Economic Relations Between India and Mongolia
Enhancing Economic Relations Between India and Mongolia

Author: Prabir De

Publisher: K W Publishers Pvt Limited

Published: 2017

Total Pages: 112

ISBN-13: 9789386288479

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The relations between Mongolia and India have a long history. Both the countries have continued to build relations based on their shared historical and cultural legacy. Relations with Southeast and East Asian countries are the foundation of India's Act East Policy (AEP). Mongolia has a strong strategic dimension, thus occupying an important space in India's AEP. Mongolia plays a pivotal role when India aims to deepen its partnership with North East and Central Asia. Mongolia being a landlocked country relies heavily on foreign trade and investment. Although China and Russia account for a large share of Mongolia's trade and investment, India-Mongolia trade has been growing at a faster pace in recent years. However, compared to its potential, current economic engagement is limited primarily to trade in minerals only. While strategic aspects continue to dominate the bilateral engagements, the possibility of enhancement of economic relations between India and Mongolia has never been explored in a comprehensive manner in the past. The visit of Indian Prime Minister to Mongolia in May 2015 has opened new opportunities to take bilateral relations between the two countries to higher levels. India-Mongolia bilateral relations hold the promise of fostering the regional integration process in Asia. Given the thrust of the Act East Policy (AEP), this book analyses the scope and opportunities in interdependence in economic areas between India and Mongolia, presents an assessment of economic cooperation, identifies the challenges and highlights policy issues to be sorted out to foster bilateral relations. To strengthen the India-Mongolia strategic partnership, this Study concludes that both sides should engage in constructive dialogue on areas of mutual interest such as connectivity, trade in goods and services, investment, etc. Maintaining cultural relations with Mongolia is as important as building and enhancing economic relations. The time is now right to move forward, but achieving significant progress will require effective management of bilateral trade and economic policy issues, accompanied by strategic engagement on security and foreign policy fronts.

The Atlas of Economic Complexity
The Atlas of Economic Complexity

Author: Ricardo Hausmann

Publisher: MIT Press

Published: 2014-01-17

Total Pages: 369

ISBN-13: 0262317737

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Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

Debt Sustainability, Public Investment, and Natural Resources in Developing Countries
Debt Sustainability, Public Investment, and Natural Resources in Developing Countries

Author: Mr.Giovanni Melina

Publisher: International Monetary Fund

Published: 2014-04-01

Total Pages: 77

ISBN-13: 1475521073

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This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open economy. It has two types of households, including poor households with no access to financial markets, and features traded and nontraded sectors as well as a natural resource sector. Public capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity constraints. The government has access to different types of debt (concessional, domestic and external commercial) and a resource fund, which can be used to finance public investment plans. The resource fund can also serve as a buffer to absorb fiscal balances for given projections of resource revenues and public investment plans. When the fund is drawn down to its minimal value, a combination of external and domestic borrowing can be used to cover the fiscal gap in the short to medium run. Fiscal adjustments through tax rates and government non-capital expenditures—which may be constrained by ceilings and floors, respectively—are then triggered to maintain debt sustainability. The paper illustrates how the model can be particularly useful to assess debt sustainability in countries that borrow against future resource revenues to scale up public investment.

Mining Royalties
Mining Royalties

Author: James Otto

Publisher: World Bank Publications

Published: 2006

Total Pages: 328

ISBN-13:

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This book discusses the history of royalties and the types currently in use, covering issues such as tax administration, revenue distribution and reporting. It identifies the strengths and weaknesses of various royalty approaches and their impact on production decisions and mine economics. A section on governance looks at the management of mining revenue by governments and the need for transparency. There is an attached CD with examples of royalty legislation from over 40 countries.

Fear and Fortune
Fear and Fortune

Author: Mette M. High

Publisher: Cornell University Press

Published: 2017-05-09

Total Pages: 229

ISBN-13: 1501708112

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Mongolia over the last decade has seen a substantial and ongoing gold rush. The widespread mining of gold looks at first glance to be a blessing for a desperately poor and largely pastoralist country where people's lives were disrupted by the end of the USSR and tens of millions of livestock were killed in devastating droughts in the early 2000s. Volatility and uncertainty as well as political and economic turmoil led many people to join the hopeful search for gold. This activity, born out of uncertain times, poses an intense moral problem; in the "land of dust," disturbing the ground and extracting the precious metal is widely believed to have calamitous consequences. With gold retaining strong ties to the landscape and its many spirit beings, the fortune of the precious metal is inseparable from the fears that surround mining. Tracing the continuities and discontinuities between human and nonhuman worlds, Mette M. High follows the paths of gold as it is excavated and converted into "polluted money," entering local shops and Buddhist monasteries, joining the illegal gold trade, and returning as "renewed" money for the "big bosses" of the gold mines. High has done several years of fieldwork in Mongolia, spending time with the "ninjas," as the miners are known locally, as well as the people who disapprove of their illegal activities and warn of the retribution that the land and its inhabitants may suffer as a result. This book is about radical change, or as many Mongolians put it, when life becomes "strange" and "chaotic." High has gained a deep understanding of the processes by which Mongolians square a morally questionable activity with the lure of profit. How do they involve themselves with tainted sources of money, and can it ever be cleansed and made usable? Addressing how our lives and those of others are intimately intertwined, Fear and Fortune offers an expansive and capacious approach to understanding the high stakes involved in human economic life.

Extractive Industries
Extractive Industries

Author: Tony Addison

Publisher: Oxford University Press

Published: 2018

Total Pages: 766

ISBN-13: 0198817363

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"A study prepared by the United Nations University World Institute for Development Economics Research (UNU-WIDER)".

Rents to Riches?
Rents to Riches?

Author: Naazneen Barma

Publisher: World Bank Publications

Published: 2012

Total Pages: 303

ISBN-13: 0821384805

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Rents to Riches> focuses on the political economy of the detailed decisions that governments make at each step of the natural resource management (NRM) value chain. Many resource-dependent developing countries pursue seemingly shortsighted and suboptimal policies when extracting, taxing, and investing resource rents. The book contextualizes these micro-level outcomes with an emphasis on two central political economy dimensions: the degree to which governments can make credible intertemporal commitments to both resource developers and citizens, and the degree to which governments and inclined to turn resource rents into public goods. Almost 1.5 billion people live in the more than 50 World Bank client countries classified as resource-dependent. A detailed understanding of the way political economy characteristics affect the NRM decisions made in these countries by governments, extractive developers, and society can improve the design of interventions to support welfare-enhancing policy making and governance in the natural resource sectors. Featuring case study work from Africa (Angola, the Democratic Republic of Congo, Ghana, Niger, Nigeria), East Asia and Pacific (the Lao People's Democratic Republic, Mongolia, Timor-Leste), and Latin America and the Caribbean (Bolivia, Chile, Ecuador, Mexico, Trinidad an dTobago_, the book provides guidance for government clients, domestic stakeholders, and development partners committed to transforming natural resource into sustainable development riches.