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Mongolia - Systematic Country Diagnostic (English)

Mongolia faces three main development challenges and two main strategies to overcome them. The three challenges are: first, to pursue a more stable and diversified path of economic growth; second, to regain the poverty reduction trend enhancing further gains in population wellbeing; and, third, to strengthen sustainability, avoiding -or reversing- environmental stress. This systematic country diagnostic (SCD) has two main strategies to achieve these goals. On the one hand, the formation of efficient regulations and capable institutions that effectively design, implement and monitor government plans and actions. On the other hand, the accumulation of a more diversified set of financial, physical and human capital assets. In summary, this SCD finds that Mongolia has experienced undeniable progress, but it has done it through growing instability and hence in an unsustainable manner because it has generated few genuine savings to diversify the future of the economy and has yet to create intangible capital to manage the volatility of a mineral commodity-based economy.

Details

  • Document Date

    2018/11/28

  • Document Type

    Systematic Country Diagnostic

  • Report Number

    132637

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Mongolia,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2018/12/03

  • Disclosure Status

    Disclosed

  • Doc Name

    Mongolia - Systematic Country Diagnostic

  • Keywords

    regulation of food; impact of climate change; preservation of natural resource; food safety and trade; access to banking service; power transmission and distribution; access to regulatory information; life expectancy at birth; standard of living; environmental stress; foreign direct investment; stable economic growth; perception of corruption; access to finance; prudent fiscal management; consultations with stakeholders; social protection program; domestic private sector; basic education system; public investment management; Access to Electricity; financial sector specialist; persistent fiscal deficits; pollution of air; competitive business environment; dependence on commodities; Natural Resources; civil society group; implementation of law; human capital asset; total water withdrawals; high unemployment rate; abundant natural resource; access to sanitation; Natural Resource Management; trade and transportation; debt sustainability analysis; transportation infrastructure network; expenditures on health; transport infrastructure network; burden of disease; formulation of policies; investment in mining; quality of health; Early childhood education; implementation of regulation; social protection system; skill and technology; acquisition of technology; enforcement of law; conflicts of interest; private sector finance; financial sector stability; disaster risk management; Water Resource Management; human capital accumulation; social and environmental; public sector specialist; enforcement of regulation; improvements in health; inflow of capital; quality of regulation; revenue collection system; enactment of law; intangible capital; governance issue; productive asset; benchmarking exercise; online survey; boom-bust cycle; macroeconomic instability; real wage; employment creation; private investment; commodity price; extreme poverty; Macroeconomic Management; rural area; fiscal budget; core infrastructure; investment climate; Political Economy; primary care; employment growth; economic volatility; foreign exchange; sovereign debt; Political Violence; development policy; real gdp; live birth; Maternal Mortality; rural population; improved sanitation; Job Creation; water source; export product; electoral law; public debt; corporate sector; market economy; natural asset; economic diversification; commodity export; economic shock; fiscal policy; veto power; resource revenue; social capital; political competition; low-productivity agriculture; average temperature; natural disaster; environmental degradation; governance problem; Fiscal policies; vibrant democracy; green growth; export basket; diversified asset; productivity growth; mineral deposit; coking coal; pasture land; pristine nature; energy specialist; land mass; educated population; senior operations; credible commitment; sustainable level; public expenditure; sustainable way; policy option; fundamental problem; conventional policy; adequate liquidity; price stability; monetary policy; stable growth; budget deficit; local stakeholder; effective policies; Infectious Disease; newborn mortality; national authority; communications infrastructure; private investor; fiscal crowding; urban transport; tertiary level; core functions; skill mismatch; female labor; skill gap; employment expansion; farm income; fiscal stabilization; labor productivity; Export Diversification; Industrial Policies; legislative initiative; Health cost; social policies; political will; Industrial Policy; state capacity; agricultural activity; macroeconomic shock; water deficit; livestock industrial; livestock industry; rapid urbanization; efficient performance; political parties; budgetary information; public good; Public Goods; hospital system; professional skill; federal state; mineral rent; political party; commodity exporter; electoral rules; trade pattern; productive factor; financial capital; social policy; investor protection; wastewater collection; contract farming; shallow aquifers; oversight committee

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Citation

Mongolia - Systematic Country Diagnostic (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/576101543874150141/Mongolia-Systematic-Country-Diagnostic