Scholarly record
ASSESSMENT OF THE SUSTAINABLE DEVELOPMENT OF MONGOLIA BASED ON INTEGRATED INDICATORS
Abstract
Theoretical studies of how resource-based economies develop change along with changes in approaches to studying sustainable development. There are opposite points of view on resource-based economies. On the one hand, abundant natural resources help countries grow rapidly and efficiently. On the other hand, the 1970s saw the emergence of the resource curse concept in which natural resources are seen as an obstacle to successful economic development. This paradox is explained in various ways, including macroeconomic, geographical, and institutional approaches. The purpose of this study is to assess the impact of the mineral sector on the sustainable development of resource-based economies using a case study of Mongolia. Research methods include evaluation of the multiplier effect that results from developing the mining sector along with correlation and regression analysis aimed at determining the strength of the relationship between the contribution of the mining sector to the country?s GDP and several sustainable development indicators. The study proves that Mongolia is a resource-based country based on the share of the mining sector in the country?s GDP and exports. An assessment of the impact of the mineral sector on the development of Mongolia based on the multiplier effect shows that taking into account both indirect and induced effects, the economic value of the mining industry doubles and accounts for almost half of the country?s GDP. The study explains why specific sustainable development indices, including the Human Development Index (HDI), the Environmental Performance Index (EPI), and the Sustainability Index (SI), were chosen. It is proved that positive trends demonstrated by the economic indicators of the mining industry result in better sustainable development indicators, including HDI, EPI, and SI in three different directions. It is concluded that the availability and effective use of mineral resources have a positive effect on the economy, that is, Mongolia is not characterized by the resource curse.
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References7
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Number of times cited according to Crossref: 2
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