Mongolia: policy for growth or innovation
by L. Lkhanyam, Kh. Enkhtsetseg, Rosalind Chew
International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 3, No. 3, 2003

Abstract: Mongolia is situated in Central Asia between two huge countries, Russia and China. The country has a large territory, but its population is small and the basic economic sectors are nomadic livestock and mining factories. In 1990, the country shifted from being a centrally planned economy to a market-oriented economy and, consequently, the economy is becoming more open. But the Mongolian economy has not performed well. In fact, employment has been falling and labour market expectations are very poor. In order to solve the problem of unemployment, it is necessary for Mongolia to increase the rate of growth. One way is to increase foreign investment. It is suggested that, in order to achieve high growth, Mongolia should take advantage of the economies of China and Russia in just the way that Singapore has taken advantage of the world economy, and Mexico has of the USA.

Online publication date: Thu, 07-Aug-2003

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