IDEAS home Printed from https://ideas.repec.org/a/eri/review/323-15.html
   My bibliography  Save this article

Original Sin: Is Mongolia Facing an External Debt Crisis?

Author

Listed:
  • H. Batsuuri

    (The Analyst)

Abstract

While many developing nations struggle under chronic debt distress, the current generation of Mongolians are considered to be fortunate people as they have no original sin, or foreign denominated debt, left to them by the previous generations. Yet they may not be as fortunate any longer as they have created excessive debt in recent years since the cancellation of large debt and the fresh start of 2005. Through the abuse of power and position, the authorities have altered the debt management laws that allowed them to contract more debt in excess of economic capacity. The debt sustainability analysis concludes that pre-crisis conditions have been formed and the crisis is imminent. Authorities will have to tackle both public and private debt in order to have realistic views on and solutions to the debt issue. Having no viable economic means in sight to overcome the debt crisis, what will the government do? We don't know yet, but certainly there are difficult times ahead for the government.

Suggested Citation

  • H. Batsuuri, 2015. "Original Sin: Is Mongolia Facing an External Debt Crisis?," The Northeast Asian Economic Review, ERINA - Economic Research Institute for Northeast Asia, vol. 3(2), pages 3-15, October.
    • Handle: RePEc:eri:review:3:2:3-15
    as

    Download full text from publisher

    File URL: https://www.unii.ac.jp/erina-unp/archive/en/wp-content/uploads/2018/05/naer32-1_tssc.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Easterly, William, 2002. "How Did Heavily Indebted Poor Countries Become Heavily Indebted? Reviewing Two Decades of Debt Relief," World Development, Elsevier, vol. 30(10), pages 1677-1696, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gunbileg Ganbayar, 2021. "An Investigation into the Sources of Depreciations in Mongolian Tugrik Exchange Rate: A Structural VAR Approach," JRFM, MDPI, vol. 14(11), pages 1-16, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chukwuebuka Bernard Azolibe, 2021. "Determinants of External Indebtedness in Heavily Indebted Poor Countries: What Macroeconomic and Socio-Economic Factors Matter?," The American Economist, Sage Publications, vol. 66(2), pages 249-264, October.
    2. Ms. Annalisa Fedelino & Alina Kudina, 2003. "Fiscal Sustainability in African HIPC Countries: A Policy Dilemma?," IMF Working Papers 2003/187, International Monetary Fund.
    3. Dias, Daniel A. & Richmond, Christine & Wright, Mark L.J., 2014. "The stock of external sovereign debt: Can we take the data at ‘face value’?," Journal of International Economics, Elsevier, vol. 94(1), pages 1-17.
    4. Marson, Marta & Savin, Ivan, 2022. "Complementary or adverse? Comparing development results of official funding from China and traditional donors in Africa," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 189-206.
    5. Gong Cheng & Javier Diaz-Cassou & Aitor Erce, 2019. "The macroeconomic effects of official debt restructuring: evidence from the Paris Club," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 344-363.
    6. Marchesi, Silvia & Missale, Alessandro, 2013. "Did High Debts Distort Loan and Grant Allocation to IDA Countries?," World Development, Elsevier, vol. 44(C), pages 44-62.
    7. Reinhart, Carmen M. & Trebesch, Christoph, 2014. "A Distant Mirror of Debt, Default, and Relief," Discussion Papers in Economics 21832, University of Munich, Department of Economics.
    8. Zhang, Liyunpeng & Zhuang, Yuhang & Ding, Yibing & Liu, Ziwei, 2023. "Infrastructure and poverty reduction: Assessing the dynamic impact of Chinese infrastructure investment in sub-Saharan Africa," Journal of Asian Economics, Elsevier, vol. 84(C).
    9. Shaikh, Salman, 2014. "Islam and Human Development," MPRA Paper 53800, University Library of Munich, Germany.
    10. Alvarez-Plata, Patricia & Brück, Tilman, 2008. "External Debt in Post-Conflict Countries," World Development, Elsevier, vol. 36(3), pages 485-504, March.
    11. Marchesi, Silvia & Sabani, Laura, 2007. "IMF concern for reputation and conditional lending failure: Theory and empirics," Journal of Development Economics, Elsevier, vol. 84(2), pages 640-666, November.
    12. Alessandro Missale & Silvia Marchesi, 2004. "What does motivate lending and aid to the HIPCs?," International Finance 0411006, University Library of Munich, Germany.
    13. Mr. Barry J. Eichengreen & Ms. Asmaa A ElGanainy & Rui Pedro Esteves & Kris James Mitchener, 2019. "Public Debt Through the Ages," IMF Working Papers 2019/006, International Monetary Fund.
    14. Morrison Kevin M, 2011. "As the World Bank Turns: Determinants of IDA Lending in the Cold War and After," Business and Politics, De Gruyter, vol. 13(2), pages 1-29, August.
    15. Nicolas Depetris Chauvin & Aart Kraay, 2007. "Who Gets Debt Relief?," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 333-342, 04-05.
    16. Freytag , Andreas & Pettersson, Jonatan & Schmied, Julian, 2016. "Debt Relief and Good Governance: New Evidence," VfS Annual Conference 2016 (Augsburg): Demographic Change 145914, Verein für Socialpolitik / German Economic Association.
    17. Johansson, Pernilla, 2010. "Debt Relief, Investment and Growth," World Development, Elsevier, vol. 38(9), pages 1204-1216, September.
    18. Gong Cheng & Javier Diaz-Cassou & Aitor Erce, 2017. "From Debt Collection to Relief Provision: 60 Years of Official Debt Restructurings through the Paris Club," Working Papers 20, European Stability Mechanism.
    19. Sèna Kimm Gnangnon & Jean-François Brun, 2020. "Tax reform and fiscal space in developing countries," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 10(2), pages 237-265, June.
    20. Vatcharin Sirimaneetham & Jonathan Temple, 2006. "Macroeconomic policy and the distribution of growth rates," Bristol Economics Discussion Papers 06/584, School of Economics, University of Bristol, UK.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eri:review:3:2:3-15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hirofumi Arai (email available below). General contact details of provider: https://edirc.repec.org/data/erinajp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.