Growth and Recovery in Mongolia During Transition

Author/Editor:

Kevin C Cheng

Publication Date:

November 1, 2003

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper studies Mongolia's experience of growth and recovery during the first decade of its transition to a market-based system and compares it with those of other transition economies. Mongolia, like most other transition economies, experienced a painful, initial "transformational recession" before the economy began to recover, with efficiency gains the main source of growth during the early stages of transition. Mongolia's transition process has been relatively smooth compared with other transition economies, probably reflecting the combined effects of some favorable initial conditions, coupled with the early adoption of appropriate adjustment policies and market-oriented reforms.

Series:

Working Paper No. 2003/217

Subject:

Economic growth Financial institutions Growth accounting Labor Production Production growth Stocks Total factor productivity

English

Publication Date:

November 1, 2003

ISBN/ISSN:

9781451875133/1018-5941

Stock No:

WPIEA2172003

Pages:

27

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