An improbable textbook case
Article Abstract:
Mongolia's move to a market economy has been hit by a number of problems, some of which are linked to the way that the reforms have been carried out. External forces include a drop in the world prices of cashmere, copper and gold, the main exports of Mongolia. This has contributed to the budget deficit. Capital controls were ended prior to financial reforms, and debtors have sent funds abroad then claimed thay cannot pay debts. Duties were abolished prior to reform of the tax system, exacerbating the fiscal deficit. Poverty has hit around two fifths of Mongolians, and rural areas are less able to absorb the poor, while the school system is underfunded. Aid accounts for around a third of per capita gross domestic product.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Back to the yurts?
Article Abstract:
Mongolia has suffered greatly from the collapse of the Soviet Union, on which it depended almost entirely for its economic survival. It might increase its trade with China, and the country is pushing ahead with privatization plans while it tries to attract foreign aid.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1992
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Dig for survival: Mongolia
Article Abstract:
Snowstorms in the the southwest and drought and fires in the northeast are crippling Mongolia's economy. Mongolia was already economically weak while undergoing a change to a free market economy. Recent disasters may cause the return of communist leadership.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1993
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