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Cambodia: Rapid Growth in an Open, Post-Conflict Economy

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  • Hal Hill
  • Jayant Menon

Abstract

This paper provides an analytical review of World Trade Organization, Trade Policy Review: Cambodia, the first such report undertaken for the country. The report highlights Cambodia's rapid economic growth after one of the world's worst cases of genocide in the second half of the twentieth century. This growth has been underpinned by open trade and investment policies, in the context of dynamic neighbourhood growth effects. The trade regime is mainly tariff-based, with modest inter-sectoral variations in rates. Cambodia has limited trade policy space. It is a signatory to the 10-nation ASEAN Free Trade Agreement, soon to become the ASEAN Economic Community. Moreover, given its long and porous borders with the much larger, dynamic economies of Thailand and Vietnam, any major cross border price differences will quickly result in informal trade with these economies, and nearby China. Most of the country's trade policy challenges are to do with 'behind the border' issues, a legacy of its generation of civil war and conflict. These include weak bureaucratic capacity, high levels of corruption, poor infrastructure, and limited human capital.

Suggested Citation

  • Hal Hill & Jayant Menon, 2014. "Cambodia: Rapid Growth in an Open, Post-Conflict Economy," Departmental Working Papers 2014-12, The Australian National University, Arndt-Corden Department of Economics.
  • Handle: RePEc:pas:papers:2014-12
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    File URL: https://crawford.anu.edu.au/acde/publications/publish/papers/wp2014/wp_econ_2014_12.pdf
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    References listed on IDEAS

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    1. Hal Hill & Jayant Menon, 2013. "Cambodia: Rapid Growth with Weak Institutions," Asian Economic Policy Review, Japan Center for Economic Research, vol. 8(1), pages 46-65, June.
    2. Hill, Hal & Menon, Jayant, 2013. "Cambodia: Rapid Growth with Institutional Constraints," ADB Economics Working Paper Series 331, Asian Development Bank.
    3. World Bank, 2012. "Matching Aspirations : Skills for Implementing Cambodia's Growth Strategy," World Bank Other Operational Studies 13808, The World Bank.
    4. Menon, Jayant, 2008. "Cambodia's Persistent Dollarization: Causes and Policy Options," Working Papers on Regional Economic Integration 19, Asian Development Bank.
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    1. repec:eee:rensus:v:74:y:2017:i:c:p:258-264 is not listed on IDEAS

    More about this item

    Keywords

    Cambodia; trade policy; ASEAN; globalization; weak institutions.;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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