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How Can Mongolia Avoid The Resource Curse?, Batbayar Baatarkhuu
How Can Mongolia Avoid The Resource Curse?, Batbayar Baatarkhuu
English Language Institute
The resource curse paradox, i.e., that resource rich countries tend to have weaker economies than no-resource countries, causes challenges for low and middle-income countries, including Mongolia (Moran, 2013). To avoid the resource curse, Mongolia should undertake three policy measures: diversifying its economy, establishing a sovereign wealth fund and imposing import restrictions.