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Trade Policy Challenges in a Small, Open, Fragile, Postconflict Economy: Cambodia

Author

Listed:
  • Hill, Hal

    (Australian National University)

  • Menon, Jayant

    (Asian Development Bank)

Abstract
This paper analyzes the World Trade Organization’s (WTO) Trade Policy Review: Cambodia, the first completed for the country. The report highlights Cambodia’s rapid economic growth after one of the world’s worst genocides in the 20th century. This growth has been underpinned by open trade and investment policies in the context of dynamic neighborhood 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 Viet Nam, any major cross-border price differences will quickly result in informal trade with these economies, and the People’s Republic of China nearby. Most of the country’s trade policy challenges are “behind-the-border” issues, a legacy of a generation of civil war and conflict. These include weak bureaucratic capacity, high levels of corruption, poor infrastructure, and limited human capital.

Suggested Citation

  • Hill, Hal & Menon, Jayant, 2014. "Trade Policy Challenges in a Small, Open, Fragile, Postconflict Economy: Cambodia," Working Papers on Regional Economic Integration 141, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0141
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    File URL: http://aric.adb.org/pdf/workingpaper/WP141_Hill_Menon_Trade_Policy_Challenges.pdf
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    References listed on IDEAS

    as
    1. Park, Cyn-Young & Majuca, Ruperto & Yap, Josef, 2010. "The 2008 Financial Crisis and Potential Output in Asia: Impact and Policy Implications," Working Papers on Regional Economic Integration 45, Asian Development Bank.
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    Cited by:

    1. Tanaka, Kiyoyasu, 2017. "Trade and investment in Cambodia," IDE Discussion Papers 667, Institute of Developing Economies, Japan External Trade Organization(JETRO).

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    More about this item

    Keywords

    Cambodia; trade policy; ASEAN; globalization; weak institutions;
    All these keywords.

    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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