Obstacles to Faster Growth in Transition Economies: The Mongolian Case
IMF Working Papers, March 1, 2001
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- Obstacles to Faster Growth in Transition Economies: The Mongolian Case
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Bibliographic details
- Authors: Stabley W. Black
- Published: March 1, 2001
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451845570.001
Summary
- The obstacles to economic growth in Mongolia are modeled with a supply-side growth model calibrated to represent inefficient use of resources and intermediation.
- Progressive removal of inefficiencies over time by means of privatization of banks and industrial enterprises potentially leads to increased productivity and increased capital accumulation, raising economic growth and per capita output.
Major themes and findings
- Supply-side growth modeling captures effects of inefficient use of resources and financial intermediation on growth.
- Privatization of banks and industrial enterprises is modeled as the mechanism for progressive removal of inefficiencies.
- Modeled outcomes from removing inefficiencies include:
- increased productivity
- increased capital accumulation
- higher economic growth
- higher per capita output
Subjects and keywords
- Subject: Domestic savings, Expenditure, Labor, Labor share, National accounts, Public expenditure review, Real wages
- Keywords: bank restructuring bond, Domestic savings, firm, government, government ownership, government policy, government saving, Growth, Labor share, Mongolia, production function, Public expenditure review, Real wages, savings behavior, savings equation, Transition, transition economy, Western Europe, WP
Content in this bundle
- Obstacles to Faster Growth in Transition Economies: The Mongolian Case - WP/01/37