MPIA-19906 Institutionalisation project for Mongolia


This research has two objectives. Firstly, it aims to develop the PEP-t-1 (dynamic CGE) model linked with a microsimulation model for the Mongolian economy. Using the model, we will conduct historical simulations to identify the effect of the recent mining boom and bust (1st stage of Oyu Tolgoi copper mine, FDIs etc.,) on the economy. Given this analysis, we will examine the effect of the 2nd stage of Oyu Tolgoi copper mine which has started its investment and will operate fully in 2019. Secondly, we would like to introduce financial flows into the model in a similar way to that in Dixon, Rimmer and Roos (2015). We believe that this would enable us to study the impact of monetary policy in Mongolia. For example, we might be able to study the impact of subsidised mortgage lending scheme in Mongolia along with the conventional monetary policy.

Follow this link to find a full description of the project, related publications and other outcomes.


Project leader: Ragchaasuren Galindev

Project researchers: Tsolmon Baatarzorig | Delgermaa Begz | Nyambaatar Batbayar | Unurjargal Davaa | Oyunzul Tserendorj

Scientific mentors: Bernard Decaluwe | Helene Maisonnave | Lulit Mitik Beyene

Journal publication

Authors Co-Authors Title of paper Title of Economic Review Bibliographic references
Tsolmon Baatarzorig, Nyambaatar Batbayar, Ragchaasuren Galindev, Oyunzul Tserendorj <p>The 2014 Mongolian Social Accounting Matrix</p> National Accounting Review

2020, Volume 2, 
Issue 2,
pp. 138-154


Ragchaasuren Galindev, Bernard Decaluwe <p>Endogenous Capital Utilization in CGE Models: A Mongolian Application with the PEP-1-1 Model</p> Journal of Global Economic Analysis

Vol. 7 No. 1 (2022)
pp. 76-103


Working Papers

Title Modified Size Comments Recommendations
Impact of Fiscal Consolidation on the Mongolian Economy 2019-09-13 1.13MB 0 0
The Economic and Environmental Impact of Foreign Direct Investment on the Mongolian Coal-Export Sector 2019-09-13 952.73kB 0 0
The 2014 Mongolian Social Accounting Matrix 2019-12-13 947.97kB 0 0
Impact on the Mongolian Economy of Foreign Direct Investment in the Coal-Export Sector 2019-12-31 1.76MB 0 0
Uncertainties in the Mongolian Economy in the Near Future 2019-12-31 2.21MB 0 0

Policy Briefs

Title Modified Size Comments Recommendations
Impact of fiscal consolidation on the Mongolian economy 2018-02-14 440.74kB 0 0
Economic and distributional impacts of fuel price subsidy changes in Mongolia 2018-04-30 475.76kB 0 0
Impact on the Mongolian economy of foreign direct investment in the coal export sector 2018-10-31 452.92kB 0 0
Assessing threats to Mongolia’s economic recovery 2019-11-29 452.90kB 0 0

Final report

Title Modified Size Comments Recommendations
Impact of scal consolidation on the Mongolian economy 2019-02-18 1.31MB 0 0
Economic and environmental impact of FDI in the Mongolian coal export sector 2019-02-18 921.67kB 0 0
Mongolian Social Accounting Matrix 2014 2019-03-04 1.12MB 0 0


Title Modified Size Comments Recommendations
2017-02-13 132.84KB 0 1

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