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

Hal Hill and Jayant Menon ()

Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics

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.

Keywords: Cambodia; trade policy; ASEAN; globalization; weak institutions. (search for similar items in EconPapers)
JEL-codes: F14 F63 O53 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2014
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Citations: View citations in EconPapers (5)

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Journal Article: Cambodia: Rapid Growth in an Open, Post-conflict Economy (2014)
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