Mongolia Economic Retrospective 2008-2010
Mongolia was one of the East Asian economies hardest hit by the global downturn, as copper prices collapsed and external demand fell. With the recovery in economic activity currently well underway, but the policy challenges highlighted by the crisi...
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| Format: | Publication |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20101116040000 http://hdl.handle.net/10986/2527 |
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okr-10986-2527 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO MARKETS ACCOUNTING ADB AMORTIZATION ARREARS ASSET MARKETS ASSET QUALITY AUCTION AVAILABILITY OF CREDIT BAILOUT BALANCE DUE BALANCE OF PAYMENTS BANK ASSET BANK BALANCE SHEETS BANK FAILURE BANK RESTRUCTURING BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BID BLACK MARKET BOND ISSUANCE BOND SPREADS BOND YIELDS BORROWING BORROWING COSTS BUDGET DEFICIT BUSINESS DEVELOPMENT CAPITAL ADEQUACY CAPITAL COSTS CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INFLOWS CASH TRANSFER CASH TRANSFERS CENTRAL BANK CENTRAL BANK BILLS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY PRICE COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONSUMER PRICE INDICES CONTINGENT LIABILITIES CREDIT BOOM CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT QUALITY CREDIT RISK CREDITORS CREDITS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNTS CURRENT EXPENDITURES DEBT DEBT RELIEF DEPOSIT DEPOSIT GUARANTEES DEPOSITOR DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DISCRIMINATION DISPOSABLE INCOME DOMESTIC CURRENCY DONOR FUNDING DONOR RESOURCES EARNINGS ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC POLICY EMERGING MARKET EMERGING MARKET BOND ENVIRONMENTAL PROTECTION EQUIPMENT ESCROW ESCROW ACCOUNT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT SHARES EXPORTERS EXTERNAL SHOCK EXTERNAL SHOCKS FAMILIES FINANCIAL ACCOUNT FINANCIAL ASSET FINANCIAL POLICIES FINANCIAL SECTOR POLICIES FINANCIAL SUPPORT FISCAL BALANCE FISCAL BALANCES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL GAPS FISCAL POLICY FLEXIBLE EXCHANGE RATE FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE MARKETS FOREIGN FINANCING GOVERNMENT BONDS GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT HOLDING HOUSEHOLDS HUSBANDS INCOME TAX INCOME-GENERATING ACTIVITIES INDIVIDUAL CREDITORS INFLATION INFLATION RATE INFLATIONARY PRESSURES INFORMAL WORKERS INFRASTRUCTURE CONCESSIONS INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INTEREST RATE INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTMENT INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTMENT PROJECTS INVESTMENT SPENDING LABOR MARKET LABOR MARKETS LAWS LEGISLATION LENDING POLICIES LENDING PORTFOLIOS LEVEL OF INFLATION LIQUIDITY LIQUIDITY CRISIS LLC LOAN PORTFOLIO LOAN QUALITY LOAN SIZE LOAN STOCK LOCAL BUSINESSES LOCAL CURRENCY LOCAL GOVERNMENT MACROECONOMIC DATA MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET CONDITIONS MARKET DETERMINATION MARKET ECONOMY MIGRATION MINIMUM WAGE MONETARY POLICY MORTGAGES NET WORTH NOMINAL INTEREST RATES NONPERFORMING LOAN NONPERFORMING LOANS NPL OPERATING COSTS OUTSTANDING LOANS OUTSTANDING STOCK PEG PENSION PENSIONS POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO INVESTMENT PREPAYMENT PROFITABILITY PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC INVESTMENTS REAL ESTATE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RECEIPT RECEIPTS REDEMPTION RESERVE RESERVE FUND RESERVES RETURN RETURNS SAFETY NET SAVINGS SCHOLARSHIPS SECTOR REFORMS SELF FINANCE SHAREHOLDER SMALL BUSINESSES SOCIAL SECURITY SOCIAL WELFARE SOLVENCY SOVEREIGN BOND STATE BANK SUBSIDIARY SURPLUS TAX TAX CREDIT TAX REGIME TAXATION TECHNICAL ASSISTANCE TIME DEPOSITS TRADE BALANCE TRADING TRADING PARTNER TRANCHE TRANCHES TRANSPARENCY TRANSPORT TREATY UNEMPLOYMENT URBAN AREAS USER FEES WAGES WATER SUPPLY |
| spellingShingle |
ACCESS TO MARKETS ACCOUNTING ADB AMORTIZATION ARREARS ASSET MARKETS ASSET QUALITY AUCTION AVAILABILITY OF CREDIT BAILOUT BALANCE DUE BALANCE OF PAYMENTS BANK ASSET BANK BALANCE SHEETS BANK FAILURE BANK RESTRUCTURING BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BID BLACK MARKET BOND ISSUANCE BOND SPREADS BOND YIELDS BORROWING BORROWING COSTS BUDGET DEFICIT BUSINESS DEVELOPMENT CAPITAL ADEQUACY CAPITAL COSTS CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INFLOWS CASH TRANSFER CASH TRANSFERS CENTRAL BANK CENTRAL BANK BILLS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY PRICE COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONSUMER PRICE INDICES CONTINGENT LIABILITIES CREDIT BOOM CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT QUALITY CREDIT RISK CREDITORS CREDITS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNTS CURRENT EXPENDITURES DEBT DEBT RELIEF DEPOSIT DEPOSIT GUARANTEES DEPOSITOR DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DISCRIMINATION DISPOSABLE INCOME DOMESTIC CURRENCY DONOR FUNDING DONOR RESOURCES EARNINGS ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC POLICY EMERGING MARKET EMERGING MARKET BOND ENVIRONMENTAL PROTECTION EQUIPMENT ESCROW ESCROW ACCOUNT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT SHARES EXPORTERS EXTERNAL SHOCK EXTERNAL SHOCKS FAMILIES FINANCIAL ACCOUNT FINANCIAL ASSET FINANCIAL POLICIES FINANCIAL SECTOR POLICIES FINANCIAL SUPPORT FISCAL BALANCE FISCAL BALANCES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL GAPS FISCAL POLICY FLEXIBLE EXCHANGE RATE FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE MARKETS FOREIGN FINANCING GOVERNMENT BONDS GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT HOLDING HOUSEHOLDS HUSBANDS INCOME TAX INCOME-GENERATING ACTIVITIES INDIVIDUAL CREDITORS INFLATION INFLATION RATE INFLATIONARY PRESSURES INFORMAL WORKERS INFRASTRUCTURE CONCESSIONS INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INTEREST RATE INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTMENT INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTMENT PROJECTS INVESTMENT SPENDING LABOR MARKET LABOR MARKETS LAWS LEGISLATION LENDING POLICIES LENDING PORTFOLIOS LEVEL OF INFLATION LIQUIDITY LIQUIDITY CRISIS LLC LOAN PORTFOLIO LOAN QUALITY LOAN SIZE LOAN STOCK LOCAL BUSINESSES LOCAL CURRENCY LOCAL GOVERNMENT MACROECONOMIC DATA MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET CONDITIONS MARKET DETERMINATION MARKET ECONOMY MIGRATION MINIMUM WAGE MONETARY POLICY MORTGAGES NET WORTH NOMINAL INTEREST RATES NONPERFORMING LOAN NONPERFORMING LOANS NPL OPERATING COSTS OUTSTANDING LOANS OUTSTANDING STOCK PEG PENSION PENSIONS POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO INVESTMENT PREPAYMENT PROFITABILITY PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC INVESTMENTS REAL ESTATE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RECEIPT RECEIPTS REDEMPTION RESERVE RESERVE FUND RESERVES RETURN RETURNS SAFETY NET SAVINGS SCHOLARSHIPS SECTOR REFORMS SELF FINANCE SHAREHOLDER SMALL BUSINESSES SOCIAL SECURITY SOCIAL WELFARE SOLVENCY SOVEREIGN BOND STATE BANK SUBSIDIARY SURPLUS TAX TAX CREDIT TAX REGIME TAXATION TECHNICAL ASSISTANCE TIME DEPOSITS TRADE BALANCE TRADING TRADING PARTNER TRANCHE TRANCHES TRANSPARENCY TRANSPORT TREATY UNEMPLOYMENT URBAN AREAS USER FEES WAGES WATER SUPPLY World Bank Mongolia Economic Retrospective 2008-2010 |
| geographic_facet |
East Asia and Pacific East Asia Asia Mongolia |
| relation |
World Bank Study |
| description |
Mongolia was one of the East Asian
economies hardest hit by the global downturn, as copper
prices collapsed and external demand fell. With the recovery
in economic activity currently well underway, but the policy
challenges highlighted by the crisis yet to be fully
addressed, this economic retrospective examines the key
economic, financial, and policy developments from mid 2008
to April 2010. Collapsing mineral prices and a steep drop in
external demand due to the global downturn of 2008 and 2009
were the external shocks which were transmitted to
Mongolia's economy. This shock exposed underlying
weaknesses in the economic structure and policy environment.
More generally, now is the time to put in place a strong
policy framework to manage the upcoming mining boom and
avoid the mistakes of the past. The looming mining boom
brings the risks of "Dutch disease" effects and a
return to the profligate populism of the past. Measures to
address these risks include the recently adopted fiscal
stability law that will help the country move away from the
fiscal boom and bust cycles of the past; improvements to the
budget process and the planning and management of public
investments in order to more efficiently absorb the large
projected increases in revenues; and appropriate policy
frameworks to support future infrastructure investment.
Implementing a targeted poverty benefit should also ensure
the poor are protected from mining boom and busts in a
fiscally sustainable manner. Finally, continued reforms in
the mining sector will enhance incentives for new
exploration and environmentally and socially sustainable development. |
| format |
Publications & Research :: Publication |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Mongolia Economic Retrospective 2008-2010 |
| title_short |
Mongolia Economic Retrospective 2008-2010 |
| title_full |
Mongolia Economic Retrospective 2008-2010 |
| title_fullStr |
Mongolia Economic Retrospective 2008-2010 |
| title_full_unstemmed |
Mongolia Economic Retrospective 2008-2010 |
| title_sort |
mongolia economic retrospective 2008-2010 |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20101116040000 http://hdl.handle.net/10986/2527 |
| _version_ |
1764385590477848576 |
| spelling |
okr-10986-25272021-04-23T14:02:02Z Mongolia Economic Retrospective 2008-2010 World Bank ACCESS TO MARKETS ACCOUNTING ADB AMORTIZATION ARREARS ASSET MARKETS ASSET QUALITY AUCTION AVAILABILITY OF CREDIT BAILOUT BALANCE DUE BALANCE OF PAYMENTS BANK ASSET BANK BALANCE SHEETS BANK FAILURE BANK RESTRUCTURING BANK SUPERVISION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BID BLACK MARKET BOND ISSUANCE BOND SPREADS BOND YIELDS BORROWING BORROWING COSTS BUDGET DEFICIT BUSINESS DEVELOPMENT CAPITAL ADEQUACY CAPITAL COSTS CAPITAL EXPENDITURES CAPITAL FLOWS CAPITAL INFLOWS CASH TRANSFER CASH TRANSFERS CENTRAL BANK CENTRAL BANK BILLS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TERMS COMMODITY PRICE COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONSUMER PRICE INDICES CONTINGENT LIABILITIES CREDIT BOOM CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT GROWTH CREDIT QUALITY CREDIT RISK CREDITORS CREDITS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNTS CURRENT EXPENDITURES DEBT DEBT RELIEF DEPOSIT DEPOSIT GUARANTEES DEPOSITOR DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DISCRIMINATION DISPOSABLE INCOME DOMESTIC CURRENCY DONOR FUNDING DONOR RESOURCES EARNINGS ECONOMIC ACTIVITY ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC POLICY EMERGING MARKET EMERGING MARKET BOND ENVIRONMENTAL PROTECTION EQUIPMENT ESCROW ESCROW ACCOUNT EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT SHARES EXPORTERS EXTERNAL SHOCK EXTERNAL SHOCKS FAMILIES FINANCIAL ACCOUNT FINANCIAL ASSET FINANCIAL POLICIES FINANCIAL SECTOR POLICIES FINANCIAL SUPPORT FISCAL BALANCE FISCAL BALANCES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL GAPS FISCAL POLICY FLEXIBLE EXCHANGE RATE FOREIGN CURRENCY FOREIGN DEBT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE MARKETS FOREIGN FINANCING GOVERNMENT BONDS GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT HOLDING HOUSEHOLDS HUSBANDS INCOME TAX INCOME-GENERATING ACTIVITIES INDIVIDUAL CREDITORS INFLATION INFLATION RATE INFLATIONARY PRESSURES INFORMAL WORKERS INFRASTRUCTURE CONCESSIONS INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INTEREST RATE INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTMENT INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTMENT PROJECTS INVESTMENT SPENDING LABOR MARKET LABOR MARKETS LAWS LEGISLATION LENDING POLICIES LENDING PORTFOLIOS LEVEL OF INFLATION LIQUIDITY LIQUIDITY CRISIS LLC LOAN PORTFOLIO LOAN QUALITY LOAN SIZE LOAN STOCK LOCAL BUSINESSES LOCAL CURRENCY LOCAL GOVERNMENT MACROECONOMIC DATA MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET CONDITIONS MARKET DETERMINATION MARKET ECONOMY MIGRATION MINIMUM WAGE MONETARY POLICY MORTGAGES NET WORTH NOMINAL INTEREST RATES NONPERFORMING LOAN NONPERFORMING LOANS NPL OPERATING COSTS OUTSTANDING LOANS OUTSTANDING STOCK PEG PENSION PENSIONS POLICY ENVIRONMENT POLICY RESPONSE PORTFOLIO INVESTMENT PREPAYMENT PROFITABILITY PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC INVESTMENTS REAL ESTATE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RECEIPT RECEIPTS REDEMPTION RESERVE RESERVE FUND RESERVES RETURN RETURNS SAFETY NET SAVINGS SCHOLARSHIPS SECTOR REFORMS SELF FINANCE SHAREHOLDER SMALL BUSINESSES SOCIAL SECURITY SOCIAL WELFARE SOLVENCY SOVEREIGN BOND STATE BANK SUBSIDIARY SURPLUS TAX TAX CREDIT TAX REGIME TAXATION TECHNICAL ASSISTANCE TIME DEPOSITS TRADE BALANCE TRADING TRADING PARTNER TRANCHE TRANCHES TRANSPARENCY TRANSPORT TREATY UNEMPLOYMENT URBAN AREAS USER FEES WAGES WATER SUPPLY Mongolia was one of the East Asian economies hardest hit by the global downturn, as copper prices collapsed and external demand fell. With the recovery in economic activity currently well underway, but the policy challenges highlighted by the crisis yet to be fully addressed, this economic retrospective examines the key economic, financial, and policy developments from mid 2008 to April 2010. Collapsing mineral prices and a steep drop in external demand due to the global downturn of 2008 and 2009 were the external shocks which were transmitted to Mongolia's economy. This shock exposed underlying weaknesses in the economic structure and policy environment. More generally, now is the time to put in place a strong policy framework to manage the upcoming mining boom and avoid the mistakes of the past. The looming mining boom brings the risks of "Dutch disease" effects and a return to the profligate populism of the past. Measures to address these risks include the recently adopted fiscal stability law that will help the country move away from the fiscal boom and bust cycles of the past; improvements to the budget process and the planning and management of public investments in order to more efficiently absorb the large projected increases in revenues; and appropriate policy frameworks to support future infrastructure investment. Implementing a targeted poverty benefit should also ensure the poor are protected from mining boom and busts in a fiscally sustainable manner. Finally, continued reforms in the mining sector will enhance incentives for new exploration and environmentally and socially sustainable development. 2012-03-19T09:35:46Z 2012-03-19T09:35:46Z 2010 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20101116040000 978-0-8213-8540-1 http://hdl.handle.net/10986/2527 English World Bank Study CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication East Asia and Pacific East Asia Asia Mongolia |