Institutional environment of economic growth of Mongolia

Modern economic growth is determined not only by the level of income of the country's population, fixed capital and human capital, the level of education, but, to a greater extent, by the level of aggregate productivity of factors that depend on the institutional environment prevailing in each country. The purpose of this study is to investigate the institutional environment for Mongolia's economic growth. Based on the study of theories of economic growth, the influence ofinstitutional. factors on economic growth and economic development is justified. The components of the institutional environment of the economic system are determined. The analysis of the political environment, the quality of regional policy is carried out. It is noted that human capital is one of the main factors determining economic growth. Undoubtedly, the availability of resources and knowledge is the main condition for economic development, but in the absence of developed competencies, knowledge and resources, it is unlikely to achieve a high social standard of living, while the improvement of institutions is also determined by the level of knowledge. The article analyzes the characteristics of the reproduction of human potential, which gives an opportunity to draw a conclusion about the level of tension in society; a comparative analysis of the standard of living of the population in the regional aspect, allowing to identify the most backward regions in terms of the standard of living of the population; The state policy on combating poverty and the direction of its development is considered. On the basis of multifactor analysis, it is shown that the development of the potential of each region gives an opportunity. for economic development and the provision of decent living conditions. The proposal for the development of social programs aimed at increasing the education of the population is substantiated.