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World Bank - Mongolia: toward a market economy

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title Mongolia Toward a Market Economy World Bank Country Study - photo 1

title:Mongolia : Toward a Market Economy World Bank Country Study, 0253-2123
author:
publisher:World Bank
isbn10 | asin:0821322478
print isbn13:9780821322475
ebook isbn13:9780585242477
language:English
subjectMongolia--Economic conditions, Mongolia--Economic policy.
publication date:1992
lcc:HC430.25.M64 1992eb
ddc:330.9517/3
subject:Mongolia--Economic conditions, Mongolia--Economic policy.
Page i
Mongolia
Toward a Market Economy
A World Bank Country Study
Mongolia toward a market economy - image 2
Page ii
Copyright 1992
The International Bank for Reconstruction
and Development/THE WORLD BANK
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing September 1992
World Bank Country Studies are among the many reports originally prepared for internal use as part of the continuing analysis by the Bank of the economic and related conditions of its developing member countries and of its dialogues with the governments. Some of the reports are published in this series with the least possible delay for the use of governments and the academic, business and financial, and development communities. The typescript of this paper therefore has not been prepared in accordance with the procedures appropriate to formal printed texts, and the World Bank accepts no responsibility for errors.
The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility whatsoever for any consequence of their use. Any maps that accompany the text have been prepared solely for the convenience of readers; the designations and presentation of material in them do not imply the expression of any opinion whatsoever on the part of the World Bank, its affiliates, or its Board or member countries concerning the legal status of any country, territory, city, or area or of the authorities thereof or concerning the delimitation of its boundaries or its national affiliation.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, 27 Congress Street, Salem, Massachusetts 01970, U.S.A.
The complete backlist of publications from the World Bank is shown in the annual Index of Publications, which contains an alphabetical title list (with full ordering information) and indexes of subjects, authors, and countries and regions. The latest edition is available free of charge from the Distribution Unit, Office of the Publisher, Department F, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, The World Bank, 66, avenue d'Ina, 75116 Paris, France.
ISSN: 0253-2123
ISBN: 0-8213-2247-8
Page iii
Abstract
This report, the World Bank's first overall review of the Mongolian economy, describes the economic pressures that surfaced in 1991 and the various measures taken by the government since then. After an introductory background, Chapters 2, 3 and 4 assess recent economic developments, the key reform and policy issues, and the country's development prospects in the medium term. Annex 1 provides background notes on the main sectors and selected issues. A statistical appendix is contained in Annex 2.
The report was originally presented to the Bank's Board of Executive Directors in December 1991. Although this version has been updated, the revisions have been limited. While the economy is changing rapidly and most recent data and policy developments have not been included, this analysis of structure and past trends of the economy is expected to be of interest to those working on reforming socialist economies in general, and Mongolia in particular.
Page iv
CURRENCY EQUIVALENTS
(As of June 30, 1992)
Currency unit = tugrik (Tug)
FISCAL YEAR January 1 to December 31 WEIGHTS AND MEASURES Metric - photo 3
FISCAL YEAR
January 1 to December 31
WEIGHTS AND MEASURES
Metric System
Page v
Preface
Mongolia became a member of the World Bank Group (IBRD, IDA and IFC) on February 14, 1991. A World Bank economic mission visited Mongolia from June 21 to July 5, 1991. It was led by Mete Durdag, and its members included Alan Gelb, Frida Johansen, Kathy Ogawa (all IBRD); John Leimone (IMF); and Cevdet Denizer and Victor Gabor (Consultants). Ramesh Chander and Shahid Yusuf participated in the latter part of the mission's work and Peter Harrold contributed to the drafting of the report. The mission wishes to thank the Mongolian authorities, and in particular the Ministry of Finance, the Bank of Mongolia and the Ministry of National Development, for their support and cooperation in providing the information and data used in this report. It also wishes to acknowledge the cooperation received and the benefit derived from recent work undertaken inter alia by the IMF, the Asian Development Bank (ADB), the United Nations Development Programme (UNDP), and by several United Nations Specialized Agencies.
This report, the World Bank's first review of the Mongolian economy, analyzes the country's economic policies and development prospects at the time of membership. Statistics for 1991 were updated in July 1992 prior to publication.
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