Autor: |
Vo Tri Thanh, Chea, Serey, Ouk, Sarat, Le Xuan Sang |
Předmět: |
|
Zdroj: |
IDS Bulletin; Jul2007, Vol. 38 Issue 4, p96-112, 17p, 8 Charts, 2 Graphs |
Abstrakt: |
The article on Cambodia, Laos and Vietnam (CLV) sheds light on possible risks associated with developments in key macroeconomic fundamentals, the financial system and foreign exchange policies following the marketoriented reforms undertaken since the late 1980s. It shows that the market reforms have led to major changes in the CLV economies and contributed to fast economic growth and development in the 1990s and early 2000s. However, informed by the events related to the Asian crisis, they argue that the liberalisation process, if implemented improperly, could involve risks. Key issues face the CLV countries: to different degrees they still rely significantly on external resources to finance their investment-saving gaps; external trade has become a major driver of growth, but the downside is vulnerability to international trade shocks and disputes and global recession. Domestically, these countries have been financially supported by weak banking systems that need further strengthening despite recent progress. They also face high levels of dollarisation, especially Cambodia and Laos, which can imply greater vulnerability to shocks. [ABSTRACT FROM AUTHOR] |
Databáze: |
Complementary Index |
Externí odkaz: |
|