Is Vietnam economic paradigm sustainable for catch up
AbstractIn the course of catching-up, Vietnam faces risks in two sectors: in real sector and in financial sector. In this paper we focus mostly on risk in real sector: the risk of getting stuck in middle-income trap. Vietnam is still far lagged behind her neighbors and much more further to developed economies. Does the economic paradigm that Vietnam follows in the last two decades allow her to catch up with those economies? We show that Vietnam’s economic growth in the last two decades based essentially on cheap but low skill labor and physical capital. Participation in international and regional production network probably lock Vietnam in low-tech position, hence low value added. If Vietnam keeps on growing in present paradigm, hardly can it catch up the neighboring economies.
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Bibliographic InfoPaper provided by Development and Policies Research Center (DEPOCEN), Vietnam in its series Working Papers with number 09.
Length: 45 pages
Date of creation: 2011
Date of revision:
Flying geese paradigm; VAR models; TFP; Technological improvement; catch-up; Vietnam.;
Find related papers by JEL classification:
- C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
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