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Conclusions and a Look to the Future

In: The Creation of the East Timorese Economy

Author

Listed:
  • Mats Lundahl

    (Stockholm School of Economics)

  • Fredrik Sjöholm

    (Lund University)

Abstract

This chapter summarizes the main findings in the previous parts of the book and provides some policy suggestions for the future. It emphasizes the previously discussed crucial structural challenges: the need for a modern sector able to provide jobs, the need for a market-oriented agricultural sector, and the need for a government spending policy that is conducive to an efficient diversification of the economy and does not deplete the petroleum fund. It is argued that substantial reforms have to be undertaken for East Timor to reach its ambitious development plans. In particular, sustainable economic and social development requires good, supporting institutions. Laws and regulations that promote economic and social development have to be worked out and implemented. If not, there is a real risk that East Timor, in a few years’ time, will find its oil money gone and with little to show for it.

Suggested Citation

  • Mats Lundahl & Fredrik Sjöholm, 2019. "Conclusions and a Look to the Future," Palgrave Studies in Economic History, in: The Creation of the East Timorese Economy, chapter 7, pages 315-332, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-22052-5_7
    DOI: 10.1007/978-3-030-22052-5_7
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