Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising given Mongolia’s geography, are determined primarily by local supply conditions, highly seasonal, and subject to large but short-lived shocks (usually weather related). Nonetheless, demand factors are also found to be significant in explaining price movements and empirical evidence suggests that a 10 percent increase in government wages, for example, would push up underlying inflation by 1 percentage point. So, while inflation will remain volatile due to agricultural shocks, there is space for macroeconomic stabilization policy to help reduce inflation volatility.
This paper analyzes the potential for fintech to facilitate cheaper and more efficient remittances, and to enhance financial inclusion in Central America. Digital remittances remain nascent in the region, primarily reflecting behavioral inertia, small cost advantages of digital over traditional channels, and inadequate financial literacy. Through expanded alliances between traditional and fintech operators, digital remittances can further reduce transaction costs and reach those remote, low-income households in a timely and secure manner. A meaningful expansion of fintech remittances necessitates an enabling regulatory environment for digital financial services, and KYC and AML/CFT requirements proportionate to the value of transfers.
This paper compares the output gap estimates for Mongolia based on a number of different methods. Special attention is paid to the substantial role of mining in the Mongolian economy. We find that a Blanchard and Quah-type joint model of output and inflation provides a more robust estimate of the output gap for Mongolia than the traditional statistical decompositions.
From a technological standpoint, geography is largely irrelevant. Data flows through the internet without regard for political borders or territories. Services, communication, and interaction can occur online between persons who may be in different countries. Illegal activities, like hacking, cyberespionage, propagating terrorist propaganda, defamation, revenge porn, and illegal marketplaces may all be remotely targeted and accessed from various countries. As such, the internet has created an interesting and complex set of challenges for the concept of jurisdiction and conflicts of law. This title takes a comparative approach covering the EU, UK, US, Germany, and China. Broken into four parts, this book delves into the notion of jurisdiction as it relates to the internet. Part I focuses on the different meanings of the concept of jurisdiction, from a legal and historical perspective, and distinguishing between the different branches of government. It will highlight the challenges created by the internet, including social media and cloud computing. Part II analyses criminal jurisdiction, in regards to both jurisdictions in cybercrime cases and jurisdictional issues relating to criminal investigations (access to the cloud) and enforcement. Part III examines jurisdiction and applicable law in civil and commercial matters, such as e-commerce B2B and B2C contracts, torts typically occurring online, and online defamation and privacy infringement. Finally, Part IV looks at regulatory jurisdiction, examining the power of the executive (whether an arm of government or independent regulator) to apply and enforce national law. It will look at aspects like the provision of online audio-visual media services and online gambling services, both of which are heavily regulated, but which can be easily provided remotely from different jurisdictions. The book concludes by analysing how the concept of jurisdiction should be adapted to ensure the rule of law by nation states and prevent international conflicts between states. This title gives a comprehensive look at the complicated subject of internet jurisdiction, essential for all dealing with jurisdictions in the modern age.
This paper analyzes the potential for fintech to facilitate cheaper and more efficient remittances, and to enhance financial inclusion in Central America. Digital remittances remain nascent in the region, primarily reflecting behavioral inertia, small cost advantages of digital over traditional channels, and inadequate financial literacy. Through expanded alliances between traditional and fintech operators, digital remittances can further reduce transaction costs and reach those remote, low-income households in a timely and secure manner. A meaningful expansion of fintech remittances necessitates an enabling regulatory environment for digital financial services, and KYC and AML/CFT requirements proportionate to the value of transfers.
Inflation in Mongolia resembles a roller coaster ride with sharp rises and steep drops. Understanding why is critical for formulating and assessing monetary policy. Food prices are found to be a key driver of inflation, and, not surprising given Mongolia’s geography, are determined primarily by local supply conditions, highly seasonal, and subject to large but short-lived shocks (usually weather related). Nonetheless, demand factors are also found to be significant in explaining price movements and empirical evidence suggests that a 10 percent increase in government wages, for example, would push up underlying inflation by 1 percentage point. So, while inflation will remain volatile due to agricultural shocks, there is space for macroeconomic stabilization policy to help reduce inflation volatility.
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