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Cambodia’s Transition to Sustainable Development: Preconditions, Recommendations, Obstacles

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Wrobel R. M.

Central and Eastern European Journal of Management and Economics (CEEJME)

2014

vol. 2

issue 2

Cambodia suffered dramatically from the Khmer Rouge regime in 1975 to 1979 as well as from Vietnam’s invasion and the following civil war till 1989. Both caused enormous destruction, not only of infrastructure, educational institutions, the financial and health system, but – even more importantly – to its human capital. After 1989 Cambodia’s economic transformation started but is insufficient until now. The conception of a market order – introduced by Walter Eucken (1952/90) - may be a helpful approach to improve the economic and social situation in the country. But before constitutive or regulative principles of a market order can be implemented in Cambodia successfully some basic political problems must be solved. They are defined already by North / Wallis / Weingast (2009) as rule of law for the elite, civil society, and consolidated control of the military. Additionally, there are further obstacles which must be drawn into consideration like cultural differences etc. It is the aim of this paper to describe the political and economic situation in Cambodia briefly. Then the necessary preconditions for sustainable development in the country will be introduced. Subsequently an economic policy in line with the market order conception will be recommended and further obstacles will be discussed, at least.

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1 Central and Eastern European Journal of Management and Economics (CEEJME)

1 Wrobel R. M.

1 2014

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Cambodia’s Transition to Sustainable Development: Preconditions, Recommendations, Obstacles