Cambodia: Rapid Growth with Weak Institutions
Hill, Hal; Menon, Jayant | January 2013
Abstract
This paper examines Cambodia’s socioeconomic development since the early 1990s peace settlement. The country’s economic growth has arguably been the fastest among post-conflict societies, driven by the credible restoration of peace and security, large public and private capital inflows, economic openness, reasonably prudent macroeconomic management, and a dynamic, integrating neighborhood. A legacy of history and small size is that the government has limited policy space, although this has not necessarily retarded economic development. We also highlight some key challenges, including rising inequality, uneven spatial development, weak institutions, and high levels of corruption. Looking forward, we highlight the importance of strengthening supply side capabilities, broadening the benefits of growth, and developing stronger institutions and property rights.
Citation
Hill, Hal; Menon, Jayant. 2013. Cambodia: Rapid Growth with Weak Institutions. © Asian Development Bank. http://hdl.handle.net/11540/2336. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Show allCollapse
Citable URI
http://hdl.handle.net/11540/2336Metadata
Show full item record
Theme
Users also downloaded
-
Constructing and Multilateralizing the Regional Comprehensive Economic Partnership: An Asian Perspective
(Asian Development Bank Institute, 2013-12-02)In May 2013 the ASEAN+6 countries began to negotiate the Regional Comprehensive Economic Partnership (RCEP). The objective of this paper is to analyze the feasibility of constructing such a region-wide agreement and to examine ways to multilateralize ... -
Managing Regional Public Goods for Health: Community-Based Dengue Vector Control
(Asian Development Bank, 2013-02-01)The threat from dengue has grown dramatically. The World Health Organization estimates that there may be up to 100 million infections each year worldwide. Approximately 500,000 people are hospitalized, and many thousands die because of dengue each year. ... -
Rural Development for Cambodia: Key Issues and Constraints
(Asian Development Bank, 2012-04-01)Cambodia's economic performance over the past decade has been impressive, and poverty reduction has made significant progress. In the 2000s, the contribution of agriculture and agro-industry to overall economic growth has come largely through the ...