Mongolia's transition strategy is unique in Asia and has been accompanied by very high levels of poverty. For these reasons, policy choices have been the focus of substantial national and international attention. This paper examines the relationship between these policy choices and the evidence...

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. This book is the first attempt to provide a...