Mongolia - Sources of Growth : Country Economic Report

Mongolia - Sources of Growth : Country Economic Report

This economic report aims to inform the ongoing debate on the Government's long term development priorities in Mongolia. It discusses the key facts and potential implications the government would need to consider when determining its public sp...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Country Economic Memorandum
Language:	English
Published:	Washington, DC 2012
Subjects:	ACCESS TO CREDIT ACCOUNTING ADMINISTRATIVE DATA ADULT EDUCATION ADVERSE EFFECTS AGGLOMERATION EFFECTS AGGREGATE DEMAND AGRICULTURE ALLOCATIVE EFFICIENCY AVERAGE WAGES BANKRUPTCY BANKS BASE YEAR BINDING CONSTRAINTS BORROWING BUDGETING BUYERS CAPACITY BUILDING CLIMATIC CONDITIONS COLLATERAL COMMERCIAL BANKS COMMODITIES COMMODITY COMMUNICATIONS TECHNOLOGY COMPETITIVENESS CONSTANT PRICES CONSUMPTION LEVELS CONTRIBUTION CONTRIBUTIONS CREDIT RISK CURRENCY CURRENT ACCOUNT CURRICULA CURRICULUM DEBT DEBT SUSTAINABILITY DECISION MAKING DEPENDANT DEPOSIT DEPOSITS DEPRECIATION DEVELOPMENT STRATEGY DIRECT INVESTMENT DISCOURAGED WORKERS DISTORTIONARY TAXES DIVERSIFICATION DROUGHTS EARNINGS ECONOMIC ACTIVITIES ECONOMIC CONCENTRATION ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC IMPACT ECONOMIC MANAGEMENT EMPLOYMENT OPPORTUNITIES ENVIRONMENTAL ENVIRONMENTAL DEGRADATION ENVIRONMENTAL IMPACTS EXCHANGE RATE EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL SHOCKS FARMS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SUPPORT FISCAL POLICY FISCAL SURPLUSES FISCAL SUSTAINABILITY FISHING FOOD PRODUCTION FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FORESTRY FUTURE GROWTH GDP GDP PER CAPITA GROSS DOMESTIC PRODUCT GROWTH RATE HOUSEHOLD INCOME HUMAN CAPITAL HUMAN DEVELOPMENT IMPORT QUOTAS IMPORTS INCOME INCOME GROUPS INCOME LEVEL INCOME LEVELS INCOME TAXES INFLATION INFLATION RATE INFORMATION SYSTEM INFORMATION TECHNOLOGY INFRASTRUCTURE INVESTMENTS INSURANCE INTELLECTUAL PROPERTY INTEREST RATE INTEREST RATES INTERMEDIATE INPUTS INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT DECISIONS INVESTMENT PROGRAM JOB CREATION LABOR COSTS LABOR FORCE LABOR MARKET LABOR MARKETS LARGE ENTERPRISES LEGISLATION LENDING RATES LITERACY LIVESTOCK SUPPORT LIVING STANDARDS LOW INCOME LOW-INCOME MACROECONOMIC ANALYSIS MACROECONOMIC MANAGEMENT MACROECONOMIC PERFORMANCE MACROECONOMIC STABILITY MACROECONOMICS MARGINAL TAX RATE MARKET CONDITIONS MARKET DEMAND MARKET ECONOMY MARKET PARTICIPANTS MATHEMATICS MEDIUM ENTERPRISES MINES MONETARY POLICY MULTIPLIER EFFECTS NATIONAL ECONOMY NATIONAL INCOME NATURAL CAPITAL NATURAL RESOURCES NEW JOBS OUTPUT PERMANENT WORKERS PERVERSE INCENTIVES PLANNED ECONOMIES PLANNED ECONOMY POLICY DECISIONS POLLUTION POPULATION DYNAMICS POVERTY ALLEVIATION PRIVATE CONSUMPTION PRIVATE SECTOR DEVELOPMENT PRODUCTION PROCESSES PRODUCTIVITY PRODUCTIVITY INCREASES PROSPERITY PUBLIC CONFIDENCE PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC GOODS PUBLIC INVESTMENT PUBLIC-PRIVATE PARTNERSHIPS QUALITY STANDARDS REAL COST REAL ESTATE REAL GDP REAL INCOME REAL WAGES RECESSION REGULATORY FRAMEWORK RESOURCE USE RETIREMENT RETIREMENT AGE RISK PREMIUM RISK PREMIUMS SALARIES SALARY SAVINGS SAVINGS RATE SECONDARY EDUCATION SOCIAL CAPITAL SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY BENEFITS SOCIAL WELFARE STRUCTURAL CHANGE SUSTAINABILITY ANALYSIS SUSTAINABLE DEVELOPMENT SUSTAINABLE GROWTH TAX TAX LAWS TAX RATE TAX RATES TAX REFORMS TAX REGIME TAX REVENUES TAX SYSTEMS TAXATION TECHNICAL EDUCATION TECHNICAL SKILLS TEMPORARY EMPLOYMENT TOTAL FACTOR PRODUCTIVITY TRADE POLICY TRAINING PROGRAMS TRANSITION COUNTRIES TRANSITION ECONOMIES TRANSPARENCY TRANSPARENCY INITIATIVE UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT BENEFITS UNEMPLOYMENT RATE UNEMPLOYMENT RATES URBAN DEVELOPMENT URBAN POPULATION URBANIZATION VALUABLE VALUE ADDED VOUCHER PROGRAM WAGE WAGE GROWTH WAGES WEALTH WITHDRAWAL WORKING AGE WORKING AGE POPULATION WORKING LIFE WORLD MARKETS WORTH WTO YOUNG PEOPLE YOUNGER WORKERS
Online Access:	http://documents.worldbank.org/curated/en/2007/07/8140232/mongolia-sources-growth-country-economic-report http://hdl.handle.net/10986/7806

Description
Summary:	This economic report aims to inform the ongoing debate on the Government's long term development priorities in Mongolia. It discusses the key facts and potential implications the government would need to consider when determining its public spending, public investment program, fiscal space, and borrowing strategy going forward. The report begins by reviewing the Mongolian growth experience over the 1990s as a pre-requisite to understand the present endowments, and the circumstances under which one needs to think about the future. Chapter 2 applies the "growth diagnostics" approach to identify those factors that are "binding" constraints to growth and are areas in need of immediate policy interventions by the government. Chapter 3 discusses the issues that will need to be addressed in order to develop non-mining sector activities with the aim of economic and export diversification and suggests policies to encourage firm innovation'' and private sector growth. Chapter 4 discusses policies to relax infrastructure bottlenecks in the context of regional development and Mongolia's unique geography. Chapter 5 presents a menu of policies tailored to address the mismatch of skills workers bring to the market and those demanded by the market. Chapter 6 discusses issues related to appropriate management and development of its mineral wealth, as well as those arising from present practices in the livestock sector. Finally, in Chapter 7, the possibilities of governance failure, policy and other risks are analyzed to demonstrate their inhibiting effects on the achievement of much higher long-term growth rates in this natural resource dependant economy during a commodity price boom.

Cannot write session to /tmp/vufind_sessions/sess_00f18ddlpncfscp3n991s7jgel