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Obtstacles to Faster Growth in Transition Economies; The Mongolian Case

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  • Stabley W. Black

Abstract

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.

Suggested Citation

  • Stabley W. Black, 2001. "Obtstacles to Faster Growth in Transition Economies; The Mongolian Case," IMF Working Papers 01/37, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:01/37
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    References listed on IDEAS

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    1. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 717-737.
    2. Ratna Sahay & Jeronimo Zettelmeyer & Eduardo Borensztein & Andrew Berg, 1999. "The Evolution of Output in Transition Economies; Explaining the Differences," IMF Working Papers 99/73, International Monetary Fund.
    3. Anthony R. Boote, 1992. "Assessing Eastern Europe's Capital Needs," IMF Working Papers 92/12, International Monetary Fund.
    4. Black, S. & Moersch, M., 1995. "Investment and Its Financing During the Transition in Central and Eastern Europe," Papers 7, American Institute for Contemporary German Studies-.
    5. Raymond Torres & John P. Martin, 1989. "Potential Output in the Seven Major OECD Countries," OECD Economics Department Working Papers 66, OECD Publishing.
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    Keywords

    Capital; Economic growth; Economic models; Mongolia; Labor; Privatization; Transition economies; Transition; Growth; capital stock; growth rate; foreign capital; capital productivity; gdp growth; Socialist Systems And Transitional Economies; Economywide Country Studies;

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