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Is the World Bank compatible with the “Socialist-oriented market economy”?

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  • Cling, Jean-Pierre
  • Razafindrakoto, Mireille
  • Roubaud, François

Abstract

Thanks to a remarkable economic performance, Vietnam has achieved huge poverty reduction and has become a middle income country. Although Vietnam considers itself as a ‘socialist-oriented market economy’, the World Bank presents it as a model student of liberalism and market-oriented reforms. The relationship of mutual interest between the World Bank and Vietnam explains this apparent paradox: in its constant search for legitimacy, the former is desperately looking for development models and new clients; the latter accepts this misrepresentation because it needs foreign funding and international credibility. The paper details the example of poverty reduction strategies, which gave the World Bank the opportunity to ‘plant its flag’ in Vietnam.

Suggested Citation

  • Cling, Jean-Pierre & Razafindrakoto, Mireille & Roubaud, François, 2013. "Is the World Bank compatible with the “Socialist-oriented market economy”?," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 13.
    • Handle: RePEc:rvr:journl:2013:10081
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    References listed on IDEAS

    as
    1. Jeffrey D. Sachs & Wing Thye Woo, 2000. "Understanding china's economic performance," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 4(1), pages 1-50.
    2. John Thoburn, 2009. "Vietnam as a Role Model for Development," WIDER Working Paper Series RP2009-30, World Institute for Development Economic Research (UNU-WIDER).
    3. Jean-Pierre Cling & Mohamed Ali Marouani & Mireille Razafindrakoto & Anne-Sophie Robilliard & Francois Roubaud, 2009. "The Distributive Impact of Vietnam's Accession to the WTO," Economie Internationale, CEPII research center, issue 118, pages 43-71.
    4. Jean-Raphael Chaponniere & Jean-Pierre Cling, 2009. "Vietnam's Export-Led Growth Model and Competition with China," Economie Internationale, CEPII research center, issue 118, pages 101-130.
    5. Martin Rama, 2008. "Making Difficult Choices," World Bank Publications - Books, The World Bank Group, number 28014, December.
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    9. repec:dau:papers:123456789/10598 is not listed on IDEAS
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    More about this item

    Keywords

    Banque mondiale; Vietnam; consensus post-Washington; modèle de développement; réduction de la pauvreté; économie de marché à orientation socialiste; World Bank; Vietnam; post-Washington consensus; Development model; Poverty reduction; Socialist-oriented market economy; Banco Mundial; Vietnam; Consenso post-Washington; modelo de desarrollo; reducción de la pobreza; economía de mercado con orientación socialista;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P36 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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