Download or read book growth diagnostics for a resource rich transition economy the case of mongolia written by Elena Ianchovichina and published by World Bank Publications. This book was released on 2007 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper uses a growth diagnostics approach à la Hausmann, Rodrik, and Velasco (HRV) to identify the most 'binding' constraints to private sector growth in Mongolia - a small, low-income, mineral-rich, transition economy. The approach of applying the HRV methodology is useful in those cases where a lack of data prevents us from estimating shadow prices to identify the most 'binding' constraint to growth. We find that although Mongolia is not liquidity constrained and has grown rapidly in recent years, economic growth has been narrowly based. Investment has flowed mainly into a small number of firms operating in mining and construction. The low level of private investment in sectors outside mining and construction has been due to low returns - a result of costly and unreliable transportation services; lengthy and complex transit procedures, including customs and trade rules; distortionary taxes; coordination failures, at both domestic and international levels; and growing corruption. Poor financial intermediation is also a problem that has kept the cost of finance high, although lower than in previous years. Alleviating these binding constraints will ensure that Mongolia maintains the path towards sustained, broad-based growth.
Download or read book Growth Diagnostics for a Resource Rich Transition Economy written by Elena Ianchovichina and published by . This book was released on 2016 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a growth diagnostics approach agrave; la Hausmann, Rodrik, and Velasco (HRV) to identify the most 'binding' constraints to private sector growth in Mongolia - a small, low-income, mineral-rich, transition economy. The approach of applying the HRV methodology is useful in those cases where a lack of data prevents us from estimating shadow prices to identify the most 'binding' constraint to growth. We find that although Mongolia is not liquidity constrained and has grown rapidly in recent years, economic growth has been narrowly based. Investment has flowed mainly into a small number of firms operating in mining and construction. The low level of private investment in sectors outside mining and construction has been due to low returns - a result of costly and unreliable transportation services; lengthy and complex transit procedures, including customs and trade rules; distortionary taxes; coordination failures, at both domestic and international levels; and growing corruption. Poor financial intermediation is also a problem that has kept the cost of finance high, although lower than in previous years. Alleviating these binding constraints will ensure that Mongolia maintains the path towards sustained, broad-based growth.
Download or read book Mongolia s Economic Prospects written by Matthias Helble and published by Asian Development Bank. This book was released on 2020-06-01 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book From Natural Resource Boom to Sustainable Economic Growth written by Pranav Gupta and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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-bas.
Download or read book Resource Management and Transition in Central Asia Azerbaijan and Mongolia written by Richard W. T. Pomfret and published by . This book was released on 2011 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a comparative analysis of resource-rich Asian transition economies. For Uzbekistan and Turkmenistan the ability to earn revenue from cotton exports permitted avoidance of reform. Oil in Azerbaijan and Kazakhstan was associated with large-scale corruption, but with soaring revenues in the 2000s their institutions evolved and to some extent improved. Kyrgyzstan and Mongolia illustrate the challenge facing a small economy with a large potential mineral resource, with the former suffering from competition for rents among the elite and the latter from lost opportunities. Overall the countries illustrate that a resource curse is not inevitable among transition economies, but a series of hurdles need to be surmounted to benefit from resource abundance. Neither the similar initial institutions nor those created in the 1990s are immutable.
Download or read book Economic Dependence of Mongolia on Minerals written by Yoshitaka Hosoi and published by Springer. This book was released on 2023-11-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Resource Management and Transition in Central Asia Azerbaijan and Mongolia written by Richard W. T. Pomfret and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a comparative analysis of resource-rich Asian transition economies. For Uzbekistan and Turkmenistan the ability to earn revenue from cotton exports permitted avoidance of reform. Oil in Azerbaijan and Kazakhstan was associated with large-scale corruption, but with soaring revenues in the 2000s their institutions evolved and to some extent improved. Kyrgyzstan and Mongolia illustrate the challenge facing a small economy with a large potential mineral resource, with the former suffering from competition for rents among the elite and the latter from lost opportunities. Overall the countries illustrate that a resource curse is not inevitable among transition economies, but a series of hurdles need to be surmounted to benefit from resource abundance. Neither the similar initial institutions nor those created in the 1990s are immutable.
Download or read book The Great Urban Transition written by Peilei Fan and published by Springer Nature. This book was released on 2022-09-02 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph examines the (sub)urbanization process of seven transitional economies in Southeast, East, and North Asia (SENA), i.e., Siberia of Russia in North Asia, China and Mongolia in East Asia, and Cambodia, Lao PDR, Myanmar, and Vietnam in Southeast Asia. In ten chapters, great urban transformation occurred in SENA is discussed, as well as the transitional period which aggravated urban environments in SENA cities and how ‘institutional shift,’ enabled by movements of urban residents and transitional urban governance, may facilitate the process and improve the urban environmental condition. This book includes land cover and land use data derived from satellite images over the past thirty years and intensive field research in more than thirty cities exploring the rise of these great cities and their environmental challenges. Unlike in western countries, the current urbanization process in Asian transitional economies is a hybrid product of market logic and state legacy and intervention, with these influences sometimes conflicting and at other times enhancing each other, under intensified globalization. This book is of interest to researchers and students interested in landscape, urban studies, environment studies in particularly Asia, as well as planners and policy makers.
Download or read book From Natural Resource Boom to Sustainable Economic Growth written by Pranav Gupta and published by International Monetary Fund. This book was released on 2015-04-30 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Sovereign Wealth Funds written by Christopher Balding and published by Oxford University Press. This book was released on 2012-03-22 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing a political, economic, and historical framework to study sovereign wealth funds, this book provides the broadest and most detailed analysis to date.
Download or read book Applied Economics for Development Empirical Approaches to Selected Social and Economic Issues in Transition Economies written by Mahmut Zortuk and published by Vernon Press. This book was released on 2018-01-15 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transition economies experience transformation of their economic system. Following the disintegration of the Soviet Union, a number of former socialist countries underwent transitions from central planning to a market economy. More generally, many rapidly growing economies undergo no less profound transformations of their economic systems. Contrary to common misconception, the transition process cannot be simply reduced to eliminating state intervention and liberalizing the economy. Economies under transition exhibit a unique set of policy challenges. Unlike developed market economies, missing markets or market failures abound. Economic transformation takes the form of rapidly evolving patterns of international trade and investment, industrial structure and consumption. These changes call for appropriate public policies. A continuing flow of investment hinges on suitable institutions, the provision of public infrastructure and other public goods. Adequate regulation can be central in ensuring that environmental resources are sustainably managed. And sophisticated production systems, call for corresponding social institutions in terms of education, health and welfare provisions. In all these cases, accurate empirical assessments are central to the design of effective policy. This book presents a selection of pressing economic and social issues in transition economies. Selected issues include the development of particular industrial sectors, the drivers and consequences of foreign direct investment, public finances, urbanization, social indicators, environmental policy and energy diversification. In each case an original empirical analysis is performed, using a variety of advanced quantitative methods, applied to recent data. The book will be of interest to economists studying transition economies, economic development or having a general interest in applied economics. It will be of particular interest to applied economists, policy analysts and policy makers in transition economies, concerned with the shape and direction of appropriate economic reforms.
Download or read book The Growth Report written by Commission on Growth and Development and published by World Bank Publications. This book was released on 2008-07-23 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Download or read book Commodity Price Volatility and Inclusive Growth in Low Income Countries written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2012-10-24 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food and fuel prices, with the threat of millions of people being pushed into poverty around the globe. The risk of continued food price volatility is a systemic challenge, and a failure in one country has been shown to have a profound impact on entire regions. This volume addresses the challenges of commodity price volatility for low-income countries and explores some macroeconomic policy options for responding to commodity price shocks. The book then looks at inclusive growth policies to address inequality in commodity-exporting countries, particularly natural resource rich countries. Perspectives from the Middle East and North Africa, sub-Saharan Africa, emerging Asia, and Mexico are presented and, finally, the role of the international donor community is examined. This volume is a must read for policymakers everywhere, from those in advanced, donor countries to those in countries with the poorest and most vulnerable populations.
Download or read book Beyond Backpacker Tourism written by Kevin Hannam and published by Channel View Publications. This book was released on 2010 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on previous work on backpacking, this book takes the analysis of backpacker tourism further by engaging both with new theoretical debates into tourism experiences and mobilities as well as with new empirical phenomena such as the rise of the 'flashpacker' and alternative destinations.
Download or read book Constructing Cultural Tourism written by Keith Hanley and published by Channel View Publications. This book was released on 2010-11-15 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an interdisciplinary collaboration between a literary critic and cultural historian, which examines and recovers a radical and still urgent challenge to the industrialisation of cultural tourism from the work of John Ruskin. Ruskin exerted a formative influence on the definition and development of cultural tourism which was probably as significant as that, for example, of his contemporary Thomas Cook. The book assesses Ruskin’s overall influence on the development of national and international tourism in the context of pre-existing expectations about tourism flows and cultural capital and alongside parallel and intersecting trends of the time; examines Ruskin’s contribution to the tourist agenda at all social levels; and discusses Ruskin’s significance for current debates in tourism studies, especially questions of the place of the ‘canon’ of traditional European cultural tourism in a post-modern tourist setting, and the various incarnations of ‘heritage tourism’.
Download or read book World Development Report 2017 written by World Bank Group and published by World Bank Publications. This book was released on 2017-01-23 with total page 605 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.
Download or read book World Development Report 2009 written by World Bank and published by World Bank Publications. This book was released on 2008-11-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.
