TY - JOUR
T1 - Reducing Vulnerability in Transition Economies: Crises and Adjustment in Cambodia
AU - Hill, Hal
AU - Menon, Jayant
PY - 2011
Y1 - 2011
N2 - 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 ofpeculiar 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 trajecto.'),' on a move 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.
AB - 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 ofpeculiar 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 trajecto.'),' on a move 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.
U2 - 10.1355/ae28-2c
DO - 10.1355/ae28-2c
M3 - Article
VL - 28
SP - 134
EP - 159
JO - Journal of Southeast Asian Economies
JF - Journal of Southeast Asian Economies
SN - 2339-5095
IS - 2
ER -