In 1990 Mongolia, the second oldest communist state in the world,
initiated a fundamental transformation of its economy and moved
rapidly to a multi-party democracy. Unlike any other Asian economy
it adopted the shock-therapy approach to transition. This book is
the first attempt to provide a detailed examination of transition
in Mongolia since 1990. It includes analyses of macroeconomic
performance, the agriculture and industry sectors, the labour
market and the emerging financial sector. It also focuses on
poverty, gender, privatisation and the environment. The
contributors to this volume argue that policymakers have
exacerbated the painful transition process by underestimating its
complexity and by pursuing inappropriate or, at best, overly
optimistic policy reforms.
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