The report and the summary review the recent economic and fiscal performance of Mongolia; outline current medium-term prospects of Mongolia's economy; discuss short-term risks and structural vulnerabilities; and comment on the efficiency of past public investment programs and practices

This paper presents estimates of the effects that terms of trade volatility has on growth of real gross domestic product per capita. Based on five-year non-overlapping panel data comprising 175 countries during 1980-2010, the paper finds that: (i) in model specifications that do not include...