A report of Mongolia’s renewal capital
Abstract. In a dynamically changing world, a major part of a nation’s competitiveness comes from its capacity of renewing itself to fit the global environment. Those resources that constitute the foundation of such capacity is called renewal capital of a nation. Multiple indicators and measures of renewal capital of Mongolia were analyzed and reported here in this present paper. We found that: first, Mongolia needs more regular, large-scale data collection in regard to its national renewal capital, in order to know the directions of improvement and investment; second, while R&D spending and patent usage of businesses need to be stimulated more, scientific publication has potential to grow and contribute to renewal. These results shed lights on the policy making and business practices.
Keywords. Renewal capital, National wealth, Intangible assets, Mongolia.JEL. M10, M11, M14.
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