Managing the Economy of Mongolia
Managing the Economy of Mongolia

Summary/Abstract: Mongolia needs to continue to work towards a new kind of state - one that is based on democracy and participation, and that provides the framework and institutions essential for a dynamic market economy. Mongolia enters the new millennium as a dramatically different country . Twenty years of transition have established Mongolia on a radically new path and injected fresh energy and momentum. For many people the changes of the 1990s have opened up vast new economic opportunities, though for others they have caused huge and painful upheavals. In some respects the transition has thrust human development into reverse2 . The change from socialism to a market economy was inevitably going to be confusing and disruptive. Each transition country has had to find its own way,3 testing new forms and innovative approaches. Twenty years on, however, it is appropriate to pause for thought, to make a more realistic assessment of what has worked and what has failed - and make the best choices for the years ahead.

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