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.

From Natural Resource Boom to Sustainable Economic Growth
From Natural Resource Boom to Sustainable Economic Growth

Author: Pranav Gupta

Publisher: International Monetary Fund

Published: 2015-04-30

Total Pages: 31

ISBN-13: 147552112X

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Some resource-rich developing countries are in the process of harnessing immense mining resources towards inclusive growth and prosperity. Nevertheless, tapping into natural resources could be challenging given the large front-loaded investment, volatile capital flows and exposure to global commodity markets. Public investment is needed to remove the often-large infrastructure gap and unlock the economic potential. However, too rapid fiscal outlays could push the economy to its limit of absorptive capacity and increase macro-financial vulnerabilities. This paper utilizes a structural model-based approach to analyze macroeconomic impacts of different public investment strategies on key fiscal and non-fiscal variables such as debt, consumption, sovereign wealth fund, and real exchange rates. We apply the model to Mongolia and draw policy recommendations from the analysis. We find that fiscal policy adjustment, particularly moderating infrastructure investment and optimizing investment efficiency is needed to maintain macroeconomic and external stability, as well as to boost the long-term sustainable growth for Mongolia.

Challenges in Fiscal and Monetary Policies in Mongolia
Challenges in Fiscal and Monetary Policies in Mongolia

Author: Hiroyuki Taguchi

Publisher: Springer Nature

Published: 2023-02-11

Total Pages: 255

ISBN-13: 9811993653

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This book provides quantitative evidence on the issues in fiscal and monetary policies in Mongolia and presents necessary policy recommendations for policymakers and academic circles. Mongolia belongs to a natural resource-based, transition economy and thus has faced the risk of the so-called resource curse—including the “Dutch Disease” and immaturity in market-based systems, particularly in financial markets. Consequently, reformations of resource allocation and policy governance in fiscal and monetary fields have been required. So far, however, there have been only a very limited number of quantitative studies in the Mongolian economy among the vast literature of Asian studies. This book applies scientific approaches to address fiscal and monetary issues, such as data-oriented and econometric methods (a structural vector auto-regression model, a spatial econometric model, and panel estimation with fixed effects, among others). In this manner, the book enriches empirical evidence in academic literature and also contributes to evidence-based policymaking. All the authors are young leaders of government officials in the Ministry of Finance, Financial Regulatory Commission, and National Statistics Office in Mongolia, who have been trained in academic research methodologies at Saitama University, Japan, on JICA-JDS scholarships. Thus, academic researchers and policymakers will be prominent members of the target audience for this work.

Business Opportunities in Mongolia
Business Opportunities in Mongolia

Author: U. S. Department U.S. Department of Commerce

Publisher: CreateSpace

Published: 2014-09-12

Total Pages: 108

ISBN-13: 9781502345707

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Prospects for 2014-2015: Mongolia's main economic and political challenges are all linked to ensuring steady growth through the boom and bust cycles likely to visit this resource-dependent economy. Double-digit economic growth over the past few years-2011's sizzling 17.3 % GDP growth, for instance-has been based on the investment in, and the production and export of, minerals. Mongolia is a major producer of several minerals including coal, copper, gold, zinc, and fluorspar. With extensive reserves, it has the potential to increase production considerably. For U.S. investors and firms, mining and mining-related services represent one of the most important and potentially most reliable sectors for long-term investment in Mongolia. Other promising sectors, based on Mongolia's economic development needs, include infrastructure, transportation, energy, construction, healthcare, and environmental products and services.

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.

The Mongolian Economy
The Mongolian Economy

Author: F. I. Nixson

Publisher: Edward Elgar Publishing

Published: 2000

Total Pages: 296

ISBN-13:

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Mongolian and British economists present the first detailed analysis of the shock-therapy approach to economic transition that the remote Asian government adopted in 1990. They look at macroeconomic performance, the agriculture and industry sectors, the labor market, and the emerging financial sector from such perspectives as poverty, gender, privatization, and the environment. They find that policy makers have exacerbated the transition process by underestimating its complexity and by pursuing inappropriate, or at best overly optimistic, policy reforms. The treatment is revised and extended from a volume published in Mongolia in 1999. Annotation copyrighted by Book News Inc., Portland, OR

Mongolia
Mongolia

Author: Ian Jeffries

Publisher: Routledge

Published: 2007-03-16

Total Pages: 216

ISBN-13: 113409468X

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This book provides a full account of the key political and economic events in Mongolia, focusing on the period since the establishment of the Soviet-backed Mongolian People’s Republic in 1924 and the transition towards a democratic free market system since the collapse of the Soviet Union.

Mongolia's Economic Transition and Development Challenges
Mongolia's Economic Transition and Development Challenges

Author: Enkhbayar Shagdar

Publisher: LAP Lambert Academic Publishing

Published: 2012-03-01

Total Pages: 292

ISBN-13: 9783846585344

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Mongolia began transforming its economy from the centrally-planned command economy to a market-oriented one in 1990. Conventional neo-liberal policy packages were implemented almost simultaneously in a relatively short period of time, which is known as a "shock-therapy" transition. However, this study argues that the conventional neo-liberal policy package implemented in a rapid manner would not succeed in transforming a centrally-planned economy into a market-oriented one unless a properly sequenced and firmly coordinated policies along with an accurately thought out program for economic transition are readily in place. Similar to other transitional economies, Mongolia experienced almost all forms of neo-liberal policy syndrome and transitional difficulty along with the emergence of other social problems, such as unemployment, poverty and inequality. The sluggish economic growth has been insufficient to bring the country out of the setbacks experienced in the initial years of transition. After a passage of more than a decade, the economy was still based on the primary industries, with raw and semi-processed materials from the mining and agriculture dominating the exports.