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During the last two decades, Vietnam has been undergoing a process of deregulating economic activities and integrating into the global economy. The passing of the Enterprise Law in 1999, which facilitated the establishment of private enterprises, and the achievement of membership of the World Trade Organization (WTO) in 2007 were two of the landmark events in Vietnam's rapid growth over this period. In order to cope with such a socioeconomic and institutional transformation, Vietnam's domestic economic entities have employed various measures, including technical upgrading, a shift into new areas of business, the diversification of capital acquisition, the adoption of new models of corporate governance, and other measures. As a result, the reorganization of Vietnam's domestic economic entities, such as the equitization of many state-owned enterprises, the emergence of large-scale private enterprises and the revitalization of rural entrepreneurs have taken place in many areas. This book attempts to analyze economic activity in Vietnam, covering a variety of types and sizes of Vietnam's domestic economic entities from large-scale stateowned enterprises to micro-scale rural entrepreneurs.
This clear and accessible text explores Vietnam's successful transition from neo-Stalinist central planning to a market economy—\"Vietnamese style.\" After describing the north Vietnamese system prior to 1975 and its colonial and precolonial antecedents, the authors uncover the mechanisms of that changeover. They contend that the Vietnamese transition was largely bottom-up in character and that it evolved over a long enough period for the country's political economy to adjust. This explains in part the rapid shift to a high-growth, externally oriented development path in the early 1990s, despite the loss of Soviet aid and the lack of significant Western substitutes until 1992-1993. Based upon extensive incountry experience, a wealth of primary materials, and wide comparative knowledge of development issues, the book challenges many preconceived notions, both about Vietnam and about the general nature of transition processes.
"The authors show how development of non-plan trading relations was based on supplies of scarce, aid-subsidised goods which provided the means for local authorities, enterprises and individuals to convert their positions of political and social power into capital. They further highlight the ways in which new, market-oriented trade relations emerged in symbiosis with the planning system and continue to influence the economic structure and institutions today. Economic Transition in Vietnam outlines the many problems currently facing Vietnam, not least how new global forms of integration are affecting future development."--BOOK JACKET.
Viet Nam has seen consistent rapid economic growth and impressive declines in poverty since it initiated its Doi Moi economic reforms in the late 1980s. Viet Nam has taken a selective, step-by-step approach to reform—an approach often criticised by proponents of the Washington Consensus. That this approach has been so successful has come as something of a surprise to much of the international community. Analysing closely aspects of Viet Nam’s reform process, enterprise development, income growth and poverty alleviation, Viet Nam: a transition tiger? argues that Viet Nam’s remarkable development is not readily explained by the more orthodox versions of the Washington Consensus. Successful policy is not built on mechanistic replication of some general reform blueprint, but on responding pragmatically to specific national circumstances. Government policy has had an impact on economic performance but economic experience has also guided the formulation of economic policy. Faced with increasingly complex economic conditions, Vietnamese policymakers will need to rely more than ever on their flexibility and pragmatism if Viet Nam’s remarkable economic performance is to be sustained.
Vietnam's bold economic reforms initiated under the title of Doi Moi in 1986 have produced spectacular economic outcomes which have fascinated economists, business people, commerce students, political scientists and government advisors alike worldwide. This book surveys important aspects of these developments, analyses the main contributing factors, provides useful references on developing and transitional economies, and details soundly researched prospects in trade, investment and business in this new rapidly developing market economy in East Asia.
The paper explores the pattern of transition of the Vietnamese economy, the policies that were applied, and the reasons for the country's success. In particular, it focuses on output performance; state-owned enterprises; foreign direct investment; determinants of inflation; dollarization and problems of economic management; international integration and exchange rate policy; growth and diversification of trade, trade reform, exchange reform, and exchange rate policy.
Read this book to trace the events that shape the history of Vietnams economy. Beginning with the economic reforms under Doi Moi in 1986, the country did well in agriculture and industry, but this progress was marred by the Asian financial and economic cr
New and exciting economic, political, and social developments have been rapidly unfolding in Vietnam since the mid-1980s. Doi moi (revolution) marks a new stage in the economic development of Vietnam, transforming the failed command/control economy to a market-oriented one. The drastic changes brought about by doi moi within Vietnam and the international events that impinge on it have stimulated several Vietnamese economists and social scientists as well as specialists or "Vietnam-watchers" to analyse the situation and share their knowledge and diverse experience in this timely and useful book.