There are few countries where ‘initial conditions' are as unfavorable as those of Laos. It is a very poor, least developed country. It is landlocked, sharing its international borders with five neighbors. It has the world's highest per capita stock of unexploded ordinance, a legacy of the Indo...

Summary Economic crises in developing countries differ in their causes, severity and recovery trajectories. The literature on the causes and immediate management of these crises is well developed. However, it is more difficult to develop an a priori framework which facilitates an analytical...