Studies of economic growth have produced much evidence of similarities in development patterns of most countries. There are always dangers in cross-country studies that unique historical, economic and political' factors might be ignored, but when countries are grouped according to size, resource...

In 1990 Mongolia, the second oldest communist state in the world, initiated a fundamental transformation of its economy and moved rapidly to a multi-party democracy. Unlike any other Asian economy it adopted the shock-therapy approach to transition.