Mongolia Economic Growth

Mongolian

GDP Per Capita

4,129.4

Ten Items that affect Capita

1. Most Mongolians raise livestock

2. 80% of the total area is either grasslands or semideserts

3. <1% of the land is suitable for farming

4. Extreme continental climate leading to short summers and long winters

5. Most Mongolians are nomadic herders, with one third living in the capital

6. 30% live in poverty

7. Main export is Cashmere wool and Copper

8. Inflation

9. Unemployment

10. Rising food costs

News Articles

Business Cycle Location

In my opinion Mongolia is currently either on the contraction or the trough of the business cycle. This is because of the natural disaster of the dzud, and mismanagement of the economy by the government. It may be at the trough because with the development of the Oyu Tolgoi being continued it might soon be past the contraction.

Capital Deepening

  • Increase infrastructure
  • move a large portion of the population from nomadic herders to the city
  • Put money into mining Mongolia's natural resources

Savings & Investment

  • Weed out corruption and incompetence to make money usage more efficient
  • Fund Projects that can have a good outcome for the economy
  • Invest in infrastructure
  • Seek foreign investors for businesses

Technological Progress

  • Invest in technology that increases efficiency
  • promote entrepreneurs
  • move citizens from nomadic herders to urban areas