Mongolia Quarterly, October 2008

The recent worsening of the financial crisis in the United States and the contagion to the world real economy are adding pressures for Mongolia to address macroeconomic imbalances. In particular, the fall in copper prices and the shortage of liquid...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ABSORPTIVE CAPACITY ADMINISTERED PRICES AGGREGATE DEMAND AGRICULTURE ANNUAL GROWTH ARREARS BALANCE OF PAYMENTS BANKING SYSTEM BASE PRICE BILL BORDER PRICE CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL INVESTMENT CASH TRANSFER CASH TRANSFERS COMMODITY COMMODITY PRICES CONSUMER CREDIT CONSUMER PRICE CONSUMER PRICE INDEX COPPER PRICE COPPER PRICES CORN PRICES CREDIBILITY CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DIVIDEND DIVIDENDS DOMESTIC BANKS DOMESTIC CAPITAL DOMESTIC CREDIT DOMESTIC CURRENCY DOMESTIC ECONOMY DOMESTIC INFLATION DOMESTIC MACROECONOMIC POLICIES DOMESTIC PRICE DOMESTIC PRICES DOMESTIC SAVING ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC SLOWDOWN ELASTICITY ENERGY PRICES EQUIPMENT EXCESS LIQUIDITY EXPANSIONARY FISCAL POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT REVENUES EXPORTS FINANCIAL CRISIS FINANCIAL DEVELOPMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SYSTEM FISCAL DISCIPLINE FISCAL POLICY FIXED EXCHANGE RATE FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN FINANCIAL MARKETS FOREIGN RESERVES GDP GLOBAL OUTPUT GOLD GOLD PRICES GOVERNMENT ACTION GOVERNMENT BUDGET GOVERNMENT CREDIT GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HIGH INFLATION HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOMES IMBALANCES IMMOVABLE ASSETS IMPORT IMPORTS INCOME TAX INCOME TAXES INFLATION INFLATION EXPECTATIONS INFLATIONARY IMPACT INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSTRUMENT INSURANCE INTEREST PAYMENTS INTERNATIONAL BEST PRACTICE INTERNATIONAL PRICES INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVENTORIES INVESTMENT EXPENDITURES JOB CREATION LABOR MARKET LENDING PORTFOLIO LIQUIDITIES M1
Online Access:	http://documents.worldbank.org/curated/en/340811468123892568/Mongolia-quarterly-October-2008 http://hdl.handle.net/10986/28196

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spelling	okr-10986-281962021-04-23T14:04:47Z Mongolia Quarterly, October 2008 World Bank ABSORPTIVE CAPACITY ADMINISTERED PRICES AGGREGATE DEMAND AGRICULTURE ANNUAL GROWTH ARREARS BALANCE OF PAYMENTS BANKING SYSTEM BASE PRICE BILL BORDER PRICE CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL INVESTMENT CASH TRANSFER CASH TRANSFERS COMMODITY COMMODITY PRICES CONSUMER CREDIT CONSUMER PRICE CONSUMER PRICE INDEX COPPER PRICE COPPER PRICES CORN PRICES CREDIBILITY CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DIVIDEND DIVIDENDS DOMESTIC BANKS DOMESTIC CAPITAL DOMESTIC CREDIT DOMESTIC CURRENCY DOMESTIC ECONOMY DOMESTIC INFLATION DOMESTIC MACROECONOMIC POLICIES DOMESTIC PRICE DOMESTIC PRICES DOMESTIC SAVING ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC SLOWDOWN ELASTICITY ENERGY PRICES EQUIPMENT EXCESS LIQUIDITY EXPANSIONARY FISCAL POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT REVENUES EXPORTS FINANCIAL CRISIS FINANCIAL DEVELOPMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SYSTEM FISCAL DISCIPLINE FISCAL POLICY FIXED EXCHANGE RATE FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN FINANCIAL MARKETS FOREIGN RESERVES GDP GLOBAL OUTPUT GOLD GOLD PRICES GOVERNMENT ACTION GOVERNMENT BUDGET GOVERNMENT CREDIT GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HIGH INFLATION HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOMES IMBALANCES IMMOVABLE ASSETS IMPORT IMPORTS INCOME TAX INCOME TAXES INFLATION INFLATION EXPECTATIONS INFLATIONARY IMPACT INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSTRUMENT INSURANCE INTEREST PAYMENTS INTERNATIONAL BEST PRACTICE INTERNATIONAL PRICES INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVENTORIES INVESTMENT EXPENDITURES JOB CREATION LABOR MARKET LENDING PORTFOLIO LIQUIDITIES M1 The recent worsening of the financial crisis in the United States and the contagion to the world real economy are adding pressures for Mongolia to address macroeconomic imbalances. In particular, the fall in copper prices and the shortage of liquidities worldwide will imply a slowdown of global economic growth, lower copper prices, and reduced foreign direct investment (FDI). The implications for Mongolia, a larger current account deficit, much lower government revenues, and continued large investment needs, will pose significant policy challenges for the new government to maintain growth while lowering inflation. Fiscal tightening will be a key to prevent inflation from permanently affecting expectations and to reduce the current account deficit. This includes no further increase in public wages, no further increase in universal cash transfers, and a prioritized investment program limited to what the absorptive capacity of the economy can bear. Fiscal space should be kept for a targeted social safety net to protect the most vulnerable. Reducing inflation is always painful, but the slower the authorities react, the more protracted the process is, with deeper impact in economic activity, employment and poverty. 2017-09-07T19:46:04Z 2017-09-07T19:46:04Z 2008-10 Report http://documents.worldbank.org/curated/en/340811468123892568/Mongolia-quarterly-October-2008 http://hdl.handle.net/10986/28196 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Mongolia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ABSORPTIVE CAPACITY ADMINISTERED PRICES AGGREGATE DEMAND AGRICULTURE ANNUAL GROWTH ARREARS BALANCE OF PAYMENTS BANKING SYSTEM BASE PRICE BILL BORDER PRICE CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL INVESTMENT CASH TRANSFER CASH TRANSFERS COMMODITY COMMODITY PRICES CONSUMER CREDIT CONSUMER PRICE CONSUMER PRICE INDEX COPPER PRICE COPPER PRICES CORN PRICES CREDIBILITY CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DIVIDEND DIVIDENDS DOMESTIC BANKS DOMESTIC CAPITAL DOMESTIC CREDIT DOMESTIC CURRENCY DOMESTIC ECONOMY DOMESTIC INFLATION DOMESTIC MACROECONOMIC POLICIES DOMESTIC PRICE DOMESTIC PRICES DOMESTIC SAVING ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC SLOWDOWN ELASTICITY ENERGY PRICES EQUIPMENT EXCESS LIQUIDITY EXPANSIONARY FISCAL POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT REVENUES EXPORTS FINANCIAL CRISIS FINANCIAL DEVELOPMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SYSTEM FISCAL DISCIPLINE FISCAL POLICY FIXED EXCHANGE RATE FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN FINANCIAL MARKETS FOREIGN RESERVES GDP GLOBAL OUTPUT GOLD GOLD PRICES GOVERNMENT ACTION GOVERNMENT BUDGET GOVERNMENT CREDIT GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HIGH INFLATION HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOMES IMBALANCES IMMOVABLE ASSETS IMPORT IMPORTS INCOME TAX INCOME TAXES INFLATION INFLATION EXPECTATIONS INFLATIONARY IMPACT INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSTRUMENT INSURANCE INTEREST PAYMENTS INTERNATIONAL BEST PRACTICE INTERNATIONAL PRICES INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVENTORIES INVESTMENT EXPENDITURES JOB CREATION LABOR MARKET LENDING PORTFOLIO LIQUIDITIES M1
spellingShingle	ABSORPTIVE CAPACITY ADMINISTERED PRICES AGGREGATE DEMAND AGRICULTURE ANNUAL GROWTH ARREARS BALANCE OF PAYMENTS BANKING SYSTEM BASE PRICE BILL BORDER PRICE CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL INVESTMENT CASH TRANSFER CASH TRANSFERS COMMODITY COMMODITY PRICES CONSUMER CREDIT CONSUMER PRICE CONSUMER PRICE INDEX COPPER PRICE COPPER PRICES CORN PRICES CREDIBILITY CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DIVIDEND DIVIDENDS DOMESTIC BANKS DOMESTIC CAPITAL DOMESTIC CREDIT DOMESTIC CURRENCY DOMESTIC ECONOMY DOMESTIC INFLATION DOMESTIC MACROECONOMIC POLICIES DOMESTIC PRICE DOMESTIC PRICES DOMESTIC SAVING ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC SLOWDOWN ELASTICITY ENERGY PRICES EQUIPMENT EXCESS LIQUIDITY EXPANSIONARY FISCAL POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORT REVENUES EXPORTS FINANCIAL CRISIS FINANCIAL DEVELOPMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SYSTEM FISCAL DISCIPLINE FISCAL POLICY FIXED EXCHANGE RATE FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN FINANCIAL MARKETS FOREIGN RESERVES GDP GLOBAL OUTPUT GOLD GOLD PRICES GOVERNMENT ACTION GOVERNMENT BUDGET GOVERNMENT CREDIT GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT HIGH INFLATION HIGH-INCOME COUNTRIES HOLDING HOUSEHOLD INCOMES IMBALANCES IMMOVABLE ASSETS IMPORT IMPORTS INCOME TAX INCOME TAXES INFLATION INFLATION EXPECTATIONS INFLATIONARY IMPACT INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSTRUMENT INSURANCE INTEREST PAYMENTS INTERNATIONAL BEST PRACTICE INTERNATIONAL PRICES INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVENTORIES INVESTMENT EXPENDITURES JOB CREATION LABOR MARKET LENDING PORTFOLIO LIQUIDITIES M1 World Bank Mongolia Quarterly, October 2008
geographic_facet	East Asia and Pacific Mongolia
description	The recent worsening of the financial crisis in the United States and the contagion to the world real economy are adding pressures for Mongolia to address macroeconomic imbalances. In particular, the fall in copper prices and the shortage of liquidities worldwide will imply a slowdown of global economic growth, lower copper prices, and reduced foreign direct investment (FDI). The implications for Mongolia, a larger current account deficit, much lower government revenues, and continued large investment needs, will pose significant policy challenges for the new government to maintain growth while lowering inflation. Fiscal tightening will be a key to prevent inflation from permanently affecting expectations and to reduce the current account deficit. This includes no further increase in public wages, no further increase in universal cash transfers, and a prioritized investment program limited to what the absorptive capacity of the economy can bear. Fiscal space should be kept for a targeted social safety net to protect the most vulnerable. Reducing inflation is always painful, but the slower the authorities react, the more protracted the process is, with deeper impact in economic activity, employment and poverty.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Mongolia Quarterly, October 2008
title_short	Mongolia Quarterly, October 2008
title_full	Mongolia Quarterly, October 2008
title_fullStr	Mongolia Quarterly, October 2008
title_full_unstemmed	Mongolia Quarterly, October 2008
title_sort	mongolia quarterly, october 2008
publisher	Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/340811468123892568/Mongolia-quarterly-October-2008 http://hdl.handle.net/10986/28196
_version_	1764466306772369408

Mongolia Quarterly, October 2008

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