Mongolia's dual transition to democracy and market capitalism

The collapse of communism and totalitarianism in the FSU and Eastern Europe in 1990 provided Mongolia with a historical opportunity of introducing simultaneous political and economic changes by dismantling the communist regime and central planning economy to build democracy and market capitalism. Mongolia's democratic transition explicitly indicates that Mongolia has reached remarkable achievements in building democracy and market capitalism. Today, Mongolia's democracy has been consolidated, meeting the requirements of liberal democracy. Mongolia's parliamentary democracy has been playing a meaningful role in building democracy and market capitalism, and civil society has emerged and developed. Mongolia's democratic reforms have been radical and irreversible. Now, Mongolia is committed to successful completion of the final phase of its transition to market capitalism to deepen and strengthen democracy.