Mongolia's Economic Transition and Development Challenges
Enkhbayar Shagdar
Broschiertes Buch

Mongolia's Economic Transition and Development Challenges

An evidence of poorly managed neo-liberal, shock therapy transition and economic destitution

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Mongolia began transforming its economy from the centrally-planned command economy to a market-oriented one in 1990. Conventional neo-liberal policy packages were implemented almost simultaneously in a relatively short period of time, which is known as a shock-therapy transition. However, this study argues that the conventional neo-liberal policy package implemented in a rapid manner would not succeed in transforming a centrally-planned economy into a market-oriented one unless a properly sequenced and firmly coordinated policies along with an accurately thought out program for economic transi...