The debate over the role of development strategies (inward vs. outward-oriented) in developing countries has produced many studies. The empirical evidence from these studies generally suggests that outward-orientation contributes to better trade and growth performance by improving access to superior technology, greater competition and learning by doing. There is overwhelming evidence to suggest that inward-oriented strategies, on the other hand, lead to lower productivity growth due to the lack of external competition. While there might be some truth in these arguments, this evidence has little relevance to many transition economies such as Mongolia, because of their land-locked position, weak institutions and poor infrastructure, which might prevent them from exploiting opportunities created by outward-orientation. The experience of many developing countries does not seem to provide sufficient insights to transition economies and there is no clear evidence to suggest that the neoclassical trade theory can hold true for small developing countries like Mongolia. The aim of this study is to fill this gap by examining the effects of outward-orientation on trends and patterns of foreign trade and foreign direct investment in Mongolia.
|Qualification||Doctor of Philosophy|
|Award date||24 May 2013|
|Place of Publication||Australia|
|Publication status||Published - 2013|