International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss


Impact of Global Financial Crisis on Economic Growth in Lao PDR

We examine the Lao PDR's economic growth issue in this from a global financial crisis perspective. Different from previous research, this paper wants to emphasize the significant effects of natural resource sectors contributed to economic growth in Lao PDR. There are three parts in this paper. We start with a brief introduction to the Lao PDR's macroeconomic achievement in the past decade. Then we discuss the impact of global financial crisis on economic growth in Lao PDR. We end the study with the conclusion that after the shocks of the global financial crisis and world economic recession, hydropower and mining sectors played the important roles on economic growth in Lao PDR. Based on these findings, we may conclude that excessive reliance on natural resources could confront the country with substantial risks and challenges.

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