From Goats to Coats : Institutional Reform in Mongolia's Cashmere Sector
The Mongolian cashmere industry has
experienced a series of booms and busts over the last
decade. Unsatisfactory public sector policies contributed to
this result. External factors such as the unfavorable
economic environment of the early 1990s, the East Asia
crisis, and weather conditions have also affected its
performance. Over 1993-96 cashmere exports doubled from
US$33.5 million to US$71.2 million, as cashmere's share