Publication: Cambodia - Sustaining Rapid Growth in a Challenging Environment : Country Economic Memorandum
Date
2009-01-01
ISSN
Published
2009-01-01
Author(s)
World Bank
Abstract
Many countries succeed in generating
high economic growth at some point in their history. But
only a very few manage to sustain rapid growth for an
extended period. Only such a prolonged period of rapid
growth can have a significant impact on income per capita,
and such an impact often brings with it many other important
changes to people's lives. Cambodia has more than
doubled its income per capita over the past decade, from
US$285 in 1997 to US$593 in 2007. This doubling has been
accompanied by the trappings of a profound structural
transformation: integration into the global economy; a shift
of jobs from agriculture to manufacturing; a demographic
transition; and migration from rural to urban areas.
Translating into jobs and better services, these outcomes
have led to a significant reduction in poverty, as well as
improvements in health and education. This report aims to
contribute to policymakers' and citizens' thinking
about growth in Cambodia in three ways: (i) it reviews the
experience of the past decade and draws the
Cambodia-specific lessons of this period; (ii) it sketches
the major potential sources of growth with the aim of
assessing the barriers to growth; and (iii) it outlines
policy options for addressing these barriers.
Citation
“World Bank. 2009. Cambodia - Sustaining Rapid Growth in a Challenging Environment : Country Economic Memorandum. © World Bank. http://hdl.handle.net/10986/3142 License: CC BY 3.0 IGO.”