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Trade Policymaking in a Resource‐rich Landlocked Country: The WTO Review of Mongolia

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  • Kishor Sharma
  • Oyunbadam Davaakhuu

Abstract

The aim of this paper is to provide a comprehensive assessment of the Trade Policy Review of Mongolia (TPRM) 2014. The TPRM 2014 demonstrates that the Mongolian economy is relatively open and it has very low formal trade barriers although there remain significant behind‐the‐borders barriers, including poor governance and infrastructure. Being a landlocked country, any major cross‐border‐price differences quickly results in informal trade with neighbouring China, limiting Mongolia's ability to pursue independent commercial policy. Mongolia's growth is not broad based and largely driven by the mining boom, making its economy highly vulnerable to external shocks. While this is not unique to Mongolia, and has been seen in many natural resource‐abundant countries, experience suggests that countries with sound institutions and macroeconomic policies have overcome the so‐called resource curse.

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  • Kishor Sharma & Oyunbadam Davaakhuu, 2015. "Trade Policymaking in a Resource‐rich Landlocked Country: The WTO Review of Mongolia," The World Economy, Wiley Blackwell, vol. 38(9), pages 1350-1367, September.
    • Handle: RePEc:bla:worlde:v:38:y:2015:i:9:p:1350-1367
    DOI: 10.1111/twec.12271
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    References listed on IDEAS

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    Cited by:

    1. Roger Alejandro Banegas Rivero & Marco Alberto Nunez Ramirez & Yesenia Clark Mendivil, 2020. "Landlocked Countries, Institutions and Economic Dynamics," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(2), pages 160-188, February.
    2. Roger Alejandro Banegas Rivero & Marco Alberto Nu ez Ramirez & Jorge Salas Vargas & Luis Fernando Escobar Caba & Sacnict Valdez del R o, 2019. "Landlocked Countries, Natural Resources and Growth: The Double Economic Curse Hypothesis," International Journal of Energy Economics and Policy, Econjournals, vol. 9(5), pages 113-124.
    3. Oyunbadam Davaakhuu & Kishor Sharma & Yapa M. W. Y. Bandara, 2018. "Trade Liberalization and Import Intensity in the Mongolian Manufacturing," Global Business Review, International Management Institute, vol. 19(6), pages 1436-1448, December.

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