Mongolian Vector of Russia’s Foreign Economic Policy

25
DOI: 10.20542/0131-2227-2024-68-8-105-116
EDN: QUMJQH
A. Makarov, bulagat@mail.ru
Baikal Institute of Nature Management, Siberian Branch of the RAS (BINM SB RAS), 6, Sakhyanovoy Str., Ulan-Ude, 670047, Russian Federation.
E. Makarova, elma79@yandex.ru
Baikal Institute of Nature Management, Siberian Branch of the RAS (BINM SB RAS), 6, Sakhyanovoy Str., Ulan-Ude, 670047, Russian Federation.
A. Mikheeva, asmiheeva@binm.ru
Baikal Institute of Nature Management, Siberian Branch of the RAS (BINM SB RAS), 6, Sakhyanovoy Str., Ulan-Ude, 670047, Russian Federation.

Received 10.03.2024. Revised 18.04.2024. Accepted 03.05.2024.

Acknowledgements. The paper was prepared within the framework of the state assignment of the Baikal Institute of Nature Management (project no. 0273-2021-0003).


Abstract. November 26, 2024 marks the 100th anniversary of the proclamation of the Mongolian People’s Republic, the establishment of which as a sovereign state was made possible thanks to the full support of the USSR. The second socialist state in the world existed for less than 70 years. However, in terms of its significance in national development, this short period represents a separate era in the Mongolian history. The paper reveals the results of Soviet-Mongolian economic cooperation. It is shown that the Mongolia development as an independent state in the 20th century became possible thanks to the Soviet Union’s extensive economic assistance. Joint companies were the main instrument of Soviet assistance. Through their establishment, all key sectors of the Mongolian economy were created. At the same time, another result of this assistance was the gigantic credit debt of Mongolia to the USSR. Due to the collapse of the Soviet Union in 1991, Mongolia had to reorient itself to attracting economic assistance from Western countries. Thanks to their help, Mongolia was able to carry out political and economic reforms. Therefore, Western countries began to be considered as priority partners for Mongolia. At the present stage, they act as key investors in the mining sector of the Mongolian economy. The features of the settlement of Mongolia’s “great debt” to Russia as the legal successor of the USSR are revealed. The analysis of modern Russian-Mongolian economic relations showed that it is based on the import of Russian energy resources to Mongolia. At the same time, a number of joint infrastructure development initiatives are being developed that could bring multilateral economic cooperation in the regional triangle “Russia-Mongolia-China” to a new level. The modernization of the Trans-Mongolian railway and the construction of infrastructure for the transit of gas and electricity from Russia to China are considered as priority projects of Russian-Mongolian economic cooperation. Another important direction in the development of Russian-Mongolian economic cooperation could be the conclusion of a free trade agreement between Mongolia and the Eurasian Economic Union. This agreement will allow Mongolia to increase the profitability of exports of light industrial goods to Russia.

Keywords: Russia, Mongolia, economic cooperation, foreign economic policy, regional integration


REFERENCES

1. Maisky I.M. Mongolia on the Eve of the Revolution. Moscow, Izd-vo Vostochnoy Literatury, 1959. 310 p. (In Russ.)

2. Worden R.L., Savada A.M., eds. Mongolia: A Country Study. Washington, Library of Congress, 1991. 320 p.

3. Zagasbaldan D. Problems of Socialist Industrialization of the Mongolian People’s Republic. Moscow, Statistika, 1973. 218 p. (In Russ.)

4. Dolgikh F.I., ed. Soviet-Mongolian Relations. 1921–1974: Documents and Materials. Vol. 1: 1921–1940. Moscow, Mezhdunarodnye otnosheniya, 1975. 589 p. (In Russ.)

5. Iskrov M.V., Kasyanenko V.I., Kartunova A.I. et al. The Historical Experience of the Fraternal Community of the CPSU and the MPRP in the Struggle for Socialism. Moscow, Politizdat, 1971. 319 p. (In Russ.)

6. Yurasov A.V., ed. Soviet-Mongolian Economic Ties. 1955–1985. Moscow, Svyaz’ Epokh, 2019. 744 p. (In Russ.)

7. Puntsagnorov T., ed. 50 Years of People’s Mongolia (Half a Century of Heroic Endeavour). Ulan Bator, State-Publishing House, 1974. 267 ð.

8. Bayarhuu T. Russian-Mongolian Trade and Economic Relations. Aftoref. Cand. Diss. (Econ.) Moscow, 1996. 21 p. (In Russ.)

9. Matveyeva G.S. Mongolian People’s Republic in the System of Socialist Economic Integration. Moscow, Nauka, 1987. 244 p. (In Russ.)

10. Badarchiin E. Search for a Model of Economic Development of Mongolia in the Post-Socialist Period. Aftoref. Dr. Diss. (Econ.) Moscow, 2000. 54 p. (In Russ.)

11. Nazirov V.R. Mongolia’s Monetary and Financial System: Problems of Stabilization. Moscow, Finizdat, 1995. 160 p. (In Russ.)

12. Radnasadiin D. External Debt of Mongolia and Problems of Its Settlement. Aftoref. Cand. Diss. (Econ.) Moscow, 2004. 23 p. (In Russ.)

13. Rodionov V.A. Russia and Mongolia: A New Model of Relations at the Beginning of the 21st Century. Ulan-Ude, BSC SB RAS, 2009. 228 p. (In Russ.)

14. Gupta P., Li Bin Grace, Yu Jiangyan. From Natural Resource Boom to Sustainable Economic Growth: Lessons for Mongolia. IMF Working Paper WP/15/90. IMF, 2015. 31 p.

15. Makarov A.V., Makarova E.V., Mikheeva A.S. Foreign Economic Relations of Mongolia: Current Situation and Development Problems. ECO, 2019, no. 6, pp. 62-82. (In Russ.)

16. Makarov A.V. Russian-Mongolian Cooperation in Protection of Lake Baikal Ecosystem. World Economy and International Relations, 2019, vol. 63, no. 3, pp. 68-75. (In Russ.) Available at: http://doi.org/10.20542/0131-2227-2019-63-3-68-75 

17. Makarov A.V., Makarova E.V., Beshentsev A.N. Mongolia: Foreign Trade and Infrastructure Development. World Economy and International Relations, 2023, vol. 67, no. 9, pp. 68-78. (In Russ.) Available at: http://doi.org/10.20542/0131-2227-2023-67-9-68-78 

18. Dondokov Z.B.-D., Namzhilova V.O. Economic Corridor China–Mongolia–Russia: Building Infrastructure Connectivity in the Context of Global Challenges. ECO, 2022, no. 12, pp. 52-71. (In Russ.) Available at: http://doi.org/10.30680/ECO0131-7652-2022-12-52-71 


SOURCES

1. Mongolia – Country Economic Memorandum: Towards a Market Economy. Report ¹ 101108-MON. The World Bank, 1991. 181 ð. Available at: https://documents.vsemirnyjbank.org/ru/publication/documents-reports/documentdetail/814861468060539504/mongolia-country-economic-memorandum-towards-a-market-economy (accessed 10.04.2024).

2. Mongolia in 100 Years. Ulaanbaatar, National Statistics Office, 2021. 662 ð.

3. World Development Indicators. The World Bank. Available at: https://data.worldbank.org/country/mongolia?view=chart (accessed 30.11.2023).

4. Foreign Direct Investment Statistics, 2022. Ministry of Economy and Development. (In Mong.) Available at: http://med.gov.mn/post/128162 (accessed 21.03.2024).

5. External debt, 2022. Mongolbank. (In Mong.) Available at: https://stat.mongolbank.mn/external (accessed 23.05.2023).

6. Customs Statistics, 2023. Mongolian Custom General Administration. (In Mong.) Available at: https://gaali.mn/statistic (accessed 09.03.2024).


For citation:
Makarov A., Makarova E., Mikheeva A. Mongolian Vector of Russia’s Foreign Economic Policy. World Eñonomy and International Relations, 2024, vol. 68, no. 8, pp. 105-116. https://doi.org/10.20542/0131-2227-2024-68-8-105-116 EDN: QUMJQH



Comments (0)

No comments

Add comment







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2024, vol. 68, No. 11
Topical Themes of the Issue:
  • U.S. Protectionism Against China’s Mercantilism  
  • U.S. Military Cooperation with Its Allies in Northeast Asia 
  • Russia Under the Conditions of Global Economy Regionalization
  • Greater Middle East
Announcement

Dear authors of the journal!

Please note that the author's copies of the issues in which your texts are published are kept in the editorial office for no more than one year. After this period expires, the editorial office has the right to dispose of unclaimed copies at its own discretion.

 

Submit an Article
INVITATION FOR PUBLICATION
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.