SSE/EFI Working Paper Series in Economics and Finance
No 267:
Cambodia: The Challenge of Productive Employment Creation
Sophal Chan, Martin Godfrey, Toshiyasu Kato, Vou Piseth Long, Nina Orlova, Per Ronnås and Savora Tia
Abstract: Economic growth in Cambodia came to an abrupt halt in 1997
as the home made political crisis and the external financial crisis took
their toll. However, Cambodia has been comparatively mildly affected by the
Asian crisis and provided that political stability can be achieved there
are good chances that the economic decline in 1997 will become little more
than a parenthesis. A more fundamental development challenge facing the
country is the very rapid increase in the labour force as the large cohorts
born in the early 1980s enter the labour market. A major weakness in the
economic development to date has been its narrow base. It has largely been
attributed to growth in the urban industrial and services sectors, while
the performance of agriculture has been rather lacklustre. The twin goals
of productive employment generation and poverty alleviation will require a
much more dynamic development of agriculture and of the rural economy as a
whole to succeed. Access to productive assets - that is land, physical and
human capital - and insecurity arising from the absence of rule of law are
identified as the factors with the strongest bearing on poverty.
Keywords: Cambodia; economic development; (follow links to similar papers)
JEL-Codes: J21; O11; O13; O15; O53; (follow links to similar papers)
88 pages, October 12, 1998
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