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ID106395
Title ProperReducing vulnerability in transition economies
Other Title Informationcrises and adjustment in Cambodia
LanguageENG
AuthorHill, Hal ;  Menon, Jayant
Publication2011.
Summary / Abstract (Note)This paper examines the impact of the global financial crisis on Cambodia, and the lessons learned. Cambodia is an interesting case study: After extremely rapid economic growth during 2000-07, it experienced a sharp growth collapse in 2008-09. This highlighted a number of peculiar vulnerabilities, including a narrow economic base, a pre-crisis asset price boom, a fragile financial system, and the limited array of defensive economic policy levers available to the government. The economy has begun to rebound since early 2010, and the crisis episode provides the government with an opportunity to place the country's economic growth trajectory on a more sustainable footing. Apart from diversifying the economy and creating the preconditions for de-dollarization, we also consider policies that could improve the business climate and make growth more inclusive.
`In' analytical NoteASEAN Economic Bulletin Vol. 28, No. 2; Aug 2011: p.134-159
Journal SourceASEAN Economic Bulletin Vol. 28, No. 2; Aug 2011: p.134-159
Key WordsCambodia ;  Global Economic Crisis ;  Macroeconomic Adjustment