Enkh-Amgalan Byambajav "Current Economic Situation in Mongolia"
On Monday, April 21st, Professor Enkh-Amgalan Byambajav, who is an Associate Professor at the School of Economic Studies at the National University of Mongolia, and is currently a Visiting Scholar in the Department of Economics at Indiana University, gave a talk on the “Current Economic Situation in Mongolia.” Professor Enkh-Amgalan charted the recent history of the Mongolian economy, and showed that while GDP and other important economic indicators have increased since the democratic revolution in 1990, he also highlighted its volatile nature. Furthermore, he demonstrated that the Mongolian economy is extremely dependent of Russian and Chinese economy, with the majority of its exports to China, and the majority of its imports from Russia. He also discussed the recent mining boom in Mongolia and its effect on the Mongolian economy, and the effects that recent disagreements had on this sector.
Professor Enkh-Amgalan concluded by arguing that the Mongolian economy is too dependent on the mining sector, and on Russia and China. He argues that Mongolia has to diversify its economy into other sectors and increase foreign investors in order to continue to insure stable economic growth in Mongolia and improve the living standard of the Mongolian people.
This talk was co-hosted by the Mongolia Society, the Department of Central Eurasian Studies, and the Inner Asian and Uralic National Resource Center.