Mines and Minds : Leveraging Natural Wealth to Invest in People and Institutions

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作者：

World Bank

来源地址：

http://hdl.handle.net/10986/34551

关键词：

VOLATILITY;  MACROECONOMIC POLICY;  PROCYCLICAL POLICY;  PRODUCTIVITY GROWTH;  MINING;  HUMAN CAPITAL;  NATURAL CAPITAL;  Report;  Rapport;  Informe; 

年份：

2020

出版地：

Washington,USA

语种：

English

摘要：

Mines represent Mongolia's present, while minds - broadly defined to include peopleand institutions - are its future. Current policies are excessively focused on preservingthe mining-driven prosperity at the risk of future stagnation. Such complacency isill-timed when climate change concerns and the COVID-19 shock require an accelerationof structural transformation. Mongolia faces deep-rooted, interrelated challenges:macroeconomic policy mistakes have amplified external shocks, an oligopolistic ownershipstructure and limited competition have led firms to become more inward-looking andless inclined to innovate, and gross underutilization of human capital - evident by anunprecedented exodus of young and educated workers to foreign countries - has erodedthe foundation of a diversified economy.