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Population Growth and Job Creation: The Search for a Modern Sector

In: The Creation of the East Timorese Economy

Author

Listed:
  • Mats Lundahl

    (Stockholm School of Economics)

  • Fredrik Sjöholm

    (Lund University)

Abstract

This chapter examines a major structural weaknesses of the economy: the small formal private sector. The need for a modernization of the East Timorese economy derives from the high rate of population growth—the highest in the world at the time of independence—subsequently lower, but still high. At the time of independence, East Timor had no modern sector except the public sector. Over the next few years, a public administration was gradually built up, but no industry. A number of measures have been introduced to facilitate the creation and operation of private businesses, but East Timor continues to have one of the worst business environments in the world. The operations of the judiciary leave a lot to be desired, and the existing business legislation is incomplete. The minimum wage rate is extremely high for a country at East Timor’s income level. Finally, it is difficult for companies to obtain bank loans.

Suggested Citation

  • Mats Lundahl & Fredrik Sjöholm, 2019. "Population Growth and Job Creation: The Search for a Modern Sector," Palgrave Studies in Economic History, in: The Creation of the East Timorese Economy, chapter 4, pages 137-198, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-22052-5_4
    DOI: 10.1007/978-3-030-22052-5_4
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