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Dutch disease in the Lao economy: Diagnosis and treatment

Authors
Insisienmay, SthabandithNolintha, VanthanaPark, Innwon
Issue Date
12월-2015
Publisher
SAGE PUBLICATIONS LTD
Keywords
Dutch disease; resource curse; sustainable development; international competitiveness; Lao PDR
Citation
INTERNATIONAL AREA STUDIES REVIEW, v.18, no.4, pp.403 - 423
Indexed
SCOPUS
KCI
Journal Title
INTERNATIONAL AREA STUDIES REVIEW
Volume
18
Number
4
Start Page
403
End Page
423
URI
https://scholar.korea.ac.kr/handle/2021.sw.korea/91762
DOI
10.1177/2233865915595155
ISSN
2233-8659
Abstract
Searching for evidence of Dutch disease in the Lao economy, we do find some of its symptoms, though they are not very strong. Accordingly, we propose some policy options to mitigate its effects and ensure the sustainable development of the Lao economy: (a) invest the revenues from the booming resource-intensive exports, foreign direct investment and official development assistance in infrastructure and education; (b) reduce import barriers against capital and equipment imports; (c) establish a natural resource fund and a foreign exchange equalisation fund; (d) actively participate in regional trade agreements for advanced technologies and domestic reform; (e) establish a comprehensive bank for efficient trade and investment activities. Above all, we strongly suggest public sector reform to increase transparency in governance.
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