Publication:
South-South Cooperation : How Mongolia Learned from Chile on Managing a Mineral-Rich Economy

Simple item page
dc.contributor.authorvan den Brink, Rogier
dc.contributor.authorSayed, Arshad
dc.contributor.authorBarnett, Steve
dc.contributor.authorAninat, Eduardo
dc.contributor.authorParrado, Eric
dc.contributor.authorHasnain, Zahid
dc.contributor.authorKhan, Tehmina
dc.date.accessioned2014-02-18T22:55:00Z
dc.date.available2014-02-18T22:55:00Z
dc.date.issued2012-09
dc.description.abstractMongolia's mineral-rich economy was hit extremely hard by the global downturn during 2008-9, when copper prices plunged, external demand fell, and growth collapsed. The shock exposed serious underlying weaknesses in the management of the country's natural resource wealth, particularly the lack of policies to insulate the economy from commodity cycles and real exchange rate appreciation pressures, an inadequate safety net, and poor public investment planning. These issues gained further urgency with the signing of a major copper mining deal in 2009 that further increased the country's mineral dependence. As part of its reform efforts and with the assistance of the World Bank and the International Monetary Fund (IMF), the government began an intensive south-south exchange, notably with Chile, another major copper producer, on strengthening the policy environment. The dialogue proved critical in the passage of several landmark laws within the space of a few years, including a fiscal stability law modeled after Chile, and the accompanying integrated budget and procurement and social welfare laws. These reforms will be crucial in managing the boom-bust cycle of mineral prices and mitigating Dutch disease effects by anchoring a prudent countercyclical fiscal policy, strengthening public financial management, increasing savings, and providing a fiscally sustainable social safety net targeted to the poor.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/09/16776969/south-south-cooperation-mongolia-learned-chile-managing-mineral-rich-economy
dc.identifier.doi10.1596/17096
dc.identifier.urihttps://hdl.handle.net/10986/17096
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesEconomic premise;no. 90
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectADB
dc.subjectAPPROPRIATIONS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANKING SECTOR
dc.subjectBASIC EDUCATION
dc.subjectBEST PRACTICES
dc.subjectBID
dc.subjectBOOM-BUST CYCLE
dc.subjectBOOM-BUST CYCLES
dc.subjectBUDGET EXECUTION
dc.subjectBUDGET PROCESS
dc.subjectBUDGET SURPLUSES
dc.subjectBUDGETING
dc.subjectBUSINESS CYCLE
dc.subjectCAPITAL BUDGETING
dc.subjectCAPITAL MARKETS
dc.subjectCASH TRANSFERS
dc.subjectCENTRAL BANK
dc.subjectCIVIL SOCIETY
dc.subjectCIVIL SOCIETY ORGANIZATIONS
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCONFIDENCE
dc.subjectCONSOLIDATION
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONTINGENT LIABILITIES
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT
dc.subjectDEBT
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT SERVICE
dc.subjectDEFICITS
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDIVERSIFICATION
dc.subjectDONOR SUPPORT
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC POLICY
dc.subjectEQUALIZATION
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPLOITATION
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL RESOURCES
dc.subjectFISCAL BALANCE
dc.subjectFISCAL BURDEN
dc.subjectFISCAL DECENTRALIZATION
dc.subjectFISCAL LEGISLATION
dc.subjectFISCAL MANAGEMENT
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFISCAL REFORMS
dc.subjectFISCAL RESPONSIBILITY
dc.subjectFISCAL SUPPORT
dc.subjectFISCAL SURPLUS
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectGOVERNMENT BORROWING
dc.subjectGOVERNMENT OFFICIALS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectINCOME DISTRIBUTION
dc.subjectINFLATION
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTMENT STRATEGIES
dc.subjectLAWS
dc.subjectLEGAL ENVIRONMENT
dc.subjectLEGISLATION
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLOCAL GOVERNMENT
dc.subjectLOCAL GOVERNMENTS
dc.subjectLOCAL TAXES
dc.subjectMINISTER
dc.subjectMONETARY FUND
dc.subjectMUNICIPAL SERVICES
dc.subjectNATIONAL BUDGET
dc.subjectOPEN ECONOMY
dc.subjectPENALTIES
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPENSION FUNDS
dc.subjectPENSION REFORMS
dc.subjectPLEDGES
dc.subjectPOLICY ENVIRONMENT
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICIANS
dc.subjectPORK BARREL
dc.subjectPRESENT VALUE
dc.subjectPRICE VOLATILITY
dc.subjectPROCUREMENTS
dc.subjectPROVISIONS
dc.subjectPUBLIC
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE MANAGEMENT
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC PROCUREMENT
dc.subjectPUBLIC PROCUREMENT LAW
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC TRANSPORT
dc.subjectREAL EXCHANGE RATE
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRETURN
dc.subjectROADS
dc.subjectSAFETY NET
dc.subjectSAVINGS
dc.subjectSOCIAL WELFARE
dc.subjectSPECIAL FUNDS
dc.subjectSTRUCTURAL DEFICITS
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTRANSPORT
dc.subjectURBAN PLANNING
dc.subjectUTILITIES
dc.subjectWAGES
dc.subjectWATER SUPPLY
dc.titleSouth-South Cooperation : How Mongolia Learned from Chile on Managing a Mineral-Rich Economyen
dspace.entity.typePublication
okr.date.disclosure2012-09-27
okr.date.doiregistration2025-04-29T09:47:57.775254Z
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/09/16776969/south-south-cooperation-mongolia-learned-chile-managing-mineral-rich-economy
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid193081468238167388
okr.identifier.externaldocumentum000333037_20120928014302
okr.identifier.internaldocumentum16776969
okr.identifier.report72946
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/09/28/000333037_20120928014302/Rendered/PDF/729460NWP0Econ0C0disclosed090270120.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.administrativeLatin America and Caribbean
okr.region.countryChile
okr.topicPublic Sector Economics
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicPublic Sector Corruption and Anticorruption Measures
okr.topicPublic Sector Development
okr.unitEcon. Policy & Debt Dept (PRMED)
okr.volume1 of 1
relation.isAuthorOfPublication8440a442-0f2d-5095-a9eb-7c0b9d112d1a
relation.isAuthorOfPublication.latestForDiscovery8440a442-0f2d-5095-a9eb-7c0b9d112d1a
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
729460NWP0Econ0C0disclosed090270120.pdf
Size:
1.97 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
729460NWP0Econ0C0disclosed090270120.txt
Size:
50.28 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Economic Premise