Economic Reform and Regional Development of Laos - Modern Economy

ME > Vol.3 No.2, March 2012

Modern Economy

Volume 3, Issue 2 (March 2012)

ISSN Print: 2152-7245 ISSN Online: 2152-7261

Google-based Impact Factor: 0.74 Citations h5-index & Ranking

Economic Reform and Regional Development of Laos ()

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Download as PDF (Size: 339KB) PP. 179-186

DOI: 10.4236/me.2012.32025 10,834 Downloads 20,150 Views Citations

Author(s)

Hatthachan Phimphanthavong

Affiliation(s)

Local Development and Global Dynamics Graduate School in Social Science, University of Trento, Italy.

ABSTRACT

The main purpose of this paper is to identify some reasons behind the economic performance of regions in Laos, especially the impacts of economic transformation from a central-planned economy to market-oriented under New Economic Mechanisms (NEMs) reform in 1986, the impact of reform has pursued significant economic growth, particularly the regional economic performance. Firstly, the growth was faster in big city with better infrastructure and then the growth extension from central to rural region by improving the infrastructure and information network. Moreover, the new policy to open the country leads to increase in the international cooperation and attractive foreign direct investment (FDI). Laos has successfully developed amicable relations with regional states, being a members of many international organization, particularly, a member of ASEAN is necessary for Laos in respect of its economic progress both regional and global procedure.

KEYWORDS

Economic Reform; GDP; Regional Development; FDI; Transportation and Growth

Share and Cite:

H. Phimphanthavong, "Economic Reform and Regional Development of Laos," Modern Economy, Vol. 3 No. 2, 2012, pp. 179-186. doi: 10.4236/me.2012.32025.

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