Abstract
Mongolia for many decades was an economic colony of the Soviet Union. The country became independent in 1921 and three years later the Mongolian People’s Republic was declared. Mongolia thereby became the first country to follow in the footsteps of the Soviet Union. Mongolia remained a single-party state closely allied to the Soviet Union until early 1990, when demonstrations in March of that year led to the first multi-party elections, the introduction of a new constitution and the beginning of a transition from a centrally-planned to a market-guided economy.
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Notes
World Bank, Mongolia: Toward a Market Economy, Washington, DC, 1992, p. 18.
Government of Mongolia, World Bank and the International Monetary Fund, Mongolia Policy Framework Paper, 28 May 1993, p. 17.
International Labour Office, Mongolia: Policies for Equitable Transition, Geneva, November 1992, p. 1.
Asian Development Bank, Mongolia: Economic Reforms and Development Issues, Manila, 30 April 1992, p. 2.
United Nations Development Programme, Human Development Report1993 (New York: Oxford University Press, 1993).
United Nations Development Programme, Mongolia Poverty Alleviation Strategy, Background Paper, draft, Ulaanbaatar, December 1993, p. 2.
A UNDP estimate, in contrast, suggests that GNP per capita declined by 34 per cent between 1989 and 1992. (See United Nations Development Programme, Mongolia Background Paper Examining Possible LDC Characteristics, Ulaanbaatar, June 1993, Table 1, p. 3.)
The Asian Development Bank reached a similar conclusion. (See Asian Development Bank, Mongolia Country Operational Program Paper 1993–1996, Manila, April 1993, Appendix 1, p. 15.)
United Nations Development Programme, Mongolia: Aide Memoire on Aid Coordination and Management, Ulaanbaatar, September 1993.
United Nations Development Programme, Development Co-operation, Mongolia, 1992 Report, October 1993.
See the World Bank study prepared by Hongjoo Hahm, ‘The Status of Privatization’, processed, 10 December 1993, Table 4, p. 4.
Also see Cevdet Denizer and Alan Gelb, Mongolia: Privatization and System Transformation in an Isolated Economy, World Bank, Policy Research Working Papers 1063, December 1992 and
Georges Korsun and Peter Murrell, Ownership and Governance on the Morning After: The Initial Results of Privatization in Mongolia, Center for Institutional Reform and the Informal Sector (IRIS), Working Paper No. 95, January 1994.
Hongjoo Hahm, op cit., p. 5.
Ibid., p. 8.
Ibid., p. 9.
World Bank, Mongolia: Toward a Market Economy, op. cit., p. 33.
See Ronald I. McKinnon, The Order of Economic Liberalization (Baltimore: Johns Hopkins University Press, 2nd edition, 1993) and
Keith Griffin and Azizur Rahman Khan, ‘The Chinese Transition to a Market-Guided Economy: The Contrast with Russia and Eastern Europe’, Contention, Vol. 3, no. 2, Winter 1994.
World Bank, Mongolia: Toward a Market Economy, op. cit., Table 2.4, P. 9.
This possibility also is raised by the Asian Development Bank, Mongolia: Economic Reforms and Development Issues, op. cit., pp. 28–9, 51.
Ibid., p. 15.
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© 1995 Keith Griffin
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Griffin, K. (1995). Economic Strategy During the Transition. In: Griffin, K. (eds) Poverty and the Transition to a Market Economy in Mongolia. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23960-3_1
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