The Mongolian People's Republic was a socialist state that existed from 1924 to 1992 in what is now Mongolia. It was established after the Mongolian Revolution of 1921, which led to the overthrow of the Mongolian monarchy and the establishment of a communist government. The republic was heavily influenced by the Soviet Union, adopting Marxist-Leninist ideologies and policies. During its existence, the Mongolian People's Republic focused on industrialization and collectivization of agriculture. It maintained a one-party system led by the Mongolian People's Revolutionary Party. In 1990, the country transitioned to a multi-party democracy, leading to the establishment of the current Mongolian state.