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After a precipitate reunification (1975), the Hanoi leadership imposed upon the South the Stalinist-Maoist strategy of economic development which had been until then applied in the North. This "Northernization" resulted in an economic crisis for the whole country during the last years of the Second Five-Year Plan. Despite some partial reforms, the country was again plunged into a more serious economic and financial crisis at the end of the Third Five-Year Plan, particularly after the ill-conceived monetary reform in September 1985. At the time of its Sixth National Congress (December 1986) the Party's new leadership advocated a strategic shift in its overall economic policy under the banner of Doi Moi (Renovation).
Published in co-operation with the Institute of Southeast Asian Studies, this book provides a clear introduction to Vietnam's troubled economy since the end of the war. Tri describes the development of a planned economic structure and the recent embrace of capitalism and the free worker.
This study examines the relationship of the dilemma and options faced by the Vietnamese leadership in planning reconstruction and development within socialism.
Vietnam's economy has been fundamentally changed by the policy reforms implemented in the 1980s to provide an environment that is more conducive for economic growth and social stabilization. The policy reforms have had a tremendous impact on economic activities and on all aspects of social life. The economy is presently moving from a centrally planned system largely based on public ownership to a market-oriented and mixed economy. Social structures and values have changed, and legal, institutional, and administrative systems are gradually changing as well. The reform process gives rise to exciting challenges and opportunities for development. Based largely on Vietnamese sources of data and information, this book presents an analysis of the main features of economic policy reforms in Vietnam, their socioeconomic impact, and several major theoretical and practical problems Vietnam faces on its path to development.
The evolution of Vietnam's political economy is unlike that of any other nation in the world today. No other country has endured so much uncertainty, hostility, occupation, civil war, political transition, or rapid economic change. If the time period from 1842 through 1975 in Vietnam was marked by a struggle for independence, then the period from 1975 to 2013 can be described as a period of maintenance and flourishing of a dynamic capitalist nation. Given the tremendous pace at which economic growth has been realized since national independence in 1975, the successes of Vietnam's socialist-communist political form of government serve as an example for developing nations around the world.
These previously unpublished papers by leading American and Vietnamese economists analyze the dramatic transformation of Vietnam's economy during the 1990s and its prospects for the future. The three main sections of the book discuss Vietnam's turbulent history, recent economic reforms, and the country's emerging role in the world economy and geopolitics. The contributors examine a myriad of issues, including specific reforms in agriculture, banking, and tax policy, as well as the attempts to create a business-oriented legal infrastructure, the development of foreign trade and a viable balance of payments, and U.S. policy reactions to Vietnam's rapid development in the last decade.
This Palgrave Pivot provides an introduction to the economy and business environment of Vietnam, a member of the ASEAN Economic Community whose economy is rapidly growing. The introduction argues that though there may be perceived disadvantages in investing in Vietnam, there are a number of benefits as well, such as the country's openness to trade and foreign direct investment, the increasing ease of doing business there and the dynamism of the economy. The book then provides an overview of Vietnam's economic policy since 1975, covering reunification, attempts at a command economy, and finally renovation under Doi Moi Policy. Further chapters cover the expansion of the private sector, interest in foreign investment, and the peculiarities of marketing and finance in Vietnam. As an edited volume with chapters written by Vietnamese scholars across economics, history, and business, this book is critical reading for researchers studying Vietnam and other Asian economies and for businesses interested in expanding into that market.
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.
This book shows why Vietnam has not become the dragon it is often touted to be. The team of authors include both long-time observers and junior scholars who present cutting-edge research on the latest trends as well as major challenges facing the country’s economy and political system. As Vietnam seeks to escape from poverty and the legacies of mistaken socialist policies, its economy has become fully integrated into the global economy. Yet, without an effective and far-sighted leadership, it is still occupying a low position in the global value chains and becoming increasingly dependent on China. Politically, after three decades of reform, the Vietnamese Communist Party’s grip on power has well adapted to the market economy, but is confronting deep vulnerabilities as observed in its eroding ability to control workers, the media, public universities, and state-owned enterprises. The book also includes a section that applies formal and statistical methods to compare Vietnam with China in two critical areas of political accountability and anti-corruption policy.