The Impacts of Economic Crisis in Mongolia : Findings from Focus Group Discussions
Mongolia was hit hard by the global economic recession, notably the fall in commodity prices. Gross Domestic Product (GDP) contracted by 1.6 percent in 2009 after growth of 8.9 percent in 2008. The country is narrowly specialized in production of a...
Main Authors: | , , , |
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Language: | English en_US |
Published: |
World Bank, Washington, DC
2017
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Subjects: | |
Online Access: | http://documents.worldbank.org/curated/en/384901468060257363/The-impacts-of-economic-crisis-in-Mongolia-findings-from-focus-group-discussions http://hdl.handle.net/10986/27413 |
Summary: | Mongolia was hit hard by the global
economic recession, notably the fall in commodity prices.
Gross Domestic Product (GDP) contracted by 1.6 percent in
2009 after growth of 8.9 percent in 2008. The country is
narrowly specialized in production of a few primary goods
with minerals comprising 70 percent of total exports. Since
mid-2008, the prices of main export goods, including copper,
zinc, crude petroleum, combed goat-down and cashmere dropped
by close to or more than 50 percent, though prices of coal
and gold held strong. Furthermore, construction activity
fell sharply in 2009 as both the public and private sectors
reduced investments and bank loans became less accessible.
The research was conducted in urban and rural areas of
Mongolia and involved interviews and focus group discussions
with about 500 people total (over the four rounds of data
collection) belonging to groups identified as particularly
exposed to the impacts of the crisis. The primary impacts of
the crisis were observed through: 1) labor market effects
(e.g. reduced salaries, increased discrimination in the
labor market, intensified competition for jobs and a
reduction in profitability of small businesses of the poor),
2) price shocks, and 3) social changes (e.g. increase in
crime and alcohol abuse). These impacts were particularly
significant for the poor. |
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