Cambodia: Rapid Growth with Institutional Constraints

This paper examines Cambodia’s socioeconomic development since the early 1990s peace settlement. The country’s economic growth has arguably been the fastest among post-conflict societies, driven by the credible restoration of peace and security, large public and private capital inflows, economic openness, reasonably prudent macroeconomic management, and a dynamic, integrating neighborhood. A legacy of history and small size is that the government has limited policy space, although this has not necessarily retarded economic development. This paper also highlight some key challenges, including rising inequality, uneven spatial development, weak institutions, and high levels of corruption. Looking forward, it highlights the importance of strengthening supply side capabilities, broadening the benefits of growth, and developing stronger institutions and property rights.

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Additional Info

Field Value
Document type Reports, journal articles, and research papers (including theses and dissertations)
Language of document
  • English
Topics Economy and commerce
Geographic area (spatial range)
  • Cambodia
Copyright Yes
Access and use constraints

© 2013 by Asian Development Bank January 2013

Version / Edition 2013
Date uploaded 2017-12-21T05:01:23.010176
Date modified 2018-03-08T10:13:43.686837
Contact

Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines www.adb.org

Co-author (individual) Hal Hill, Jayant Menon
ISSN number 1655-5252
Publication place Manila, Philippines
Publisher Asian Development Bank
Publication date 2013
Pagination 28
Keywords Cambodia,transition,economies,economic growth,institutions,conflict