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Has foreign investment played a role in Mongolia's export success?

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  • Oyunbadam Davaakhuu
  • Kishor Sharma
  • Edward Oczkowski

Abstract

The exposure of the Mongolian economy to international trade in the early 1990s has led to its export growth exceeding GDP growth and a dramatic increase in inflows of foreign direct investment (FDI). Although FDI can act as a powerful channel for export expansion in a developing country like Mongolia, improved export performance could also be due to other factors, such as movements in prices, competitive exchange rates and world income. In spite of Mongolia's superior export performance, as yet, no study has been conducted to investigate the determinants of Mongolian export demand and supply. Using a panel data set covering 1995-2012 for the mining, manufacturing and primary sectors, we analyse the determinants of export performance. Empirical results suggest that higher world income, higher prices for Mongolian exports and increased FDI inflows have led to improved export performance in Mongolia. There is no statistical evidence to suggest that trade liberalisation and improved provision of basic infrastructure have had any impact on Mongolia's export expansion.

Suggested Citation

  • Oyunbadam Davaakhuu & Kishor Sharma & Edward Oczkowski, 2015. "Has foreign investment played a role in Mongolia's export success?," Post-Communist Economies, Taylor & Francis Journals, vol. 27(2), pages 256-267, June.
    • Handle: RePEc:taf:pocoec:v:27:y:2015:i:2:p:256-267
    DOI: 10.1080/14631377.2015.1026707
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    References listed on IDEAS

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    1. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    2. World Bank, 2013. "World Development Indicators 2013," World Bank Publications - Books, The World Bank Group, number 13191, April.
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    1. Oyunbadam Davaakhuu & Kishor Sharma & Yapa M. W. Y. Bandara, 2018. "Trade Liberalization and Import Intensity in the Mongolian Manufacturing," Global Business Review, International Management Institute, vol. 19(6), pages 1436-1448, December.
    2. Ganchimeg Gombodorj & Karoly Peto, 2022. "Impact Of The Mining And Agriculture Sector On The Mongolian Economy," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 7(1), pages 74-85, March.
    3. Gurpriya Sadana & Jaydeep Mukherjee, 2024. "Relationship between FDI Inflows and Exports at Subnational / State Level: A Case Study on the Indian Economy," Working Papers 2470, Indian Institute of Foreign Trade.
    4. Radovan Kastratović, 2020. "The impact of foreign direct investment on host country exports: A meta‐analysis," The World Economy, Wiley Blackwell, vol. 43(12), pages 3142-3183, December.

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