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Author: Elena Ianchovichina
Publisher: World Bank Publications
ISBN:
Category : Access to Finance
Languages : en
Pages : 39
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Book Description
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.
Author: Elena Ianchovichina
Publisher: World Bank Publications
ISBN:
Category : Access to Finance
Languages : en
Pages : 39
Get Book
Book Description
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.
Author: Elena Ianchovichina
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper uses a growth diagnostics approach ?? 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.
Author: Matthias Helble
Publisher: Asian Development Bank
ISBN: 9292622498
Category : Business & Economics
Languages : en
Pages : 293
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Book Description
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.
Author: Pranav Gupta
Publisher:
ISBN: 9781475550238
Category : Electronic books
Languages : en
Pages : 53
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Book Description
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.
Author: Christopher Balding
Publisher: Oxford University Press
ISBN: 0199942773
Category : Business & Economics
Languages : en
Pages :
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Book Description
Sovereign wealth funds are a growing and dynamic force in international finance. The shifting international economic relations from capital rich states gives them new power in influencing the global agenda. Despite controlling trillions of dollars in the biggest companies in the world, little is known about the opaque funds of oil rich and non-democratic governments. This is the first book to compile a history of sovereign wealth funds recounting the Abu Dhabi Investment Authority's involvement with the scandal-plagued BCCI bank and Chinese arms exports to Iran. By constructing a history within the proper context of oil driven surpluses and large inflationary pressures with no international investment framework, this book explains the development and growth of sovereign wealth funds. The economics of capital surplus countries and investment strategies are examined in order to better understand sovereign wealth fund creation and growth. In a straightforward and accessible style, the author examines the complex and amazing growth of an unknown group of investors controlling trillions of dollars worldwide.
Author: Mahmut Zortuk
Publisher: Vernon Press
ISBN: 1622733576
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
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.
Author: Peilei Fan
Publisher: Springer Nature
ISBN: 3031059573
Category : Science
Languages : en
Pages : 227
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Book Description
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.
Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
ISBN: 1475545193
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
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.
Author: Keith Hanley
Publisher: Channel View Publications
ISBN: 1845412060
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
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’.
Author: Kevin Hannam
Publisher: Channel View Publications
ISBN: 1845411900
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
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. Chapters include material on flashpacking, the virtualization of backpacker culture, the re-conceptualisation of lifestyle travellers, backpackers as volunteer tourists, as well as backpackers' experiences of hostels, mobilities and their policy implications. It sets a new benchmark for the study of independent travel in the contemporary world.
