Mongolia - Sources of Growth : Country Economic Report
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Washington, DC
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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.
Palabras clave
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