New Working Paper!
Posted on 02 November 2023

We are pleased to announce the release of the latest SEACEN Working Paper today, WP2/2023.

This study investigates the role of fiscal policy in stabilising resource-rich economies vulnerable to external commodity shocks, with a specific focus on Mongolia.  We analyse the effects of various external commodity shocks on Mongolia’s economy and find that fiscal policy’s responses to these shocks have been counter-cyclical.  Additionally, we construct policy counterfactuals to examine the insulating role of fiscal policy on real domestic output. The findings reveal that counter-cyclical fiscal measures,  particularly government expenditure, and to a lesser extent, government revenue,  played  an important role in Mongolia’s response to external commodity shocks.


Click here to read it in full.

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