Mines and Minds

• Ngôn ngữ: eng
• Ký hiệu phân loại: 128.2 Mind
• Thông tin xuất bản: World Bank, Ulaanbaatar, 2020
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 303301
• Chủ đề: 1. MACROECONOMIC POLICY; 2. MINING; 3. PROCYCLICAL POLICY; 4. PRODUCTIVITY GROWTH; 5. VOLATILITY

Tóm tắt

Mines represent Mongolia's present, while minds - broadly defined to include people and institutions - are its future. Current policies are excessively focused on preserving the mining-driven prosperity at the risk of future stagnation. Such complacency is ill-timed when climate change concerns and the COVID-19 shock require an acceleration of structural transformation. Mongolia faces deep-rooted, interrelated challenges: macroeconomic policy mistakes have amplified external shocks, an oligopolistic ownership structure and limited competition have led firms to become more inward-looking and less inclined to innovate, and gross underutilization of human capital - evident by an unprecedented exodus of young and educated workers to foreign countries - has eroded the foundation of a diversified economy.