The Challenges Posed by Globalization for Economic Liberalization inTwo Asian Transitional Countries: Laos and Vietnam
AbstractThis paper examines the impact of globalization on two transitional economies in Asia. Both countries have undergone a radical economic reform process over the past decade, assisted by increases in external trade flows, foreign investment activity, and external assistance. However, the pace of economic reform has decelerated since the perceived perils of globalization—as evidenced by the Asian Crisis—have become more apparent to the leaderships of these two avowedly socialist states. Although neighbouring and fraternal countries, adopting broadly parallel economic liberalisation programmes, the forces of globalization have manifested themselves in different ways in Laos and Vietnam. The paper discerns these differences, and assesses whether the two countries are likely to overcome the current hiatus in their economic reform programmes. [Discussion PaperNo.2001/40]
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Bibliographic InfoPaper provided by eSocialSciences in its series Working Papers with number id:3108.
Date of creation: Nov 2010
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globalizationbacklash; foreigndirectinvestment; EastAsia;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-06 (All new papers)
- NEP-SEA-2010-11-06 (South East Asia)
- NEP-TRA-2010-11-06 (Transition Economics)
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- International Monetary Fund, 2000. "Lao People's Democratic Republic - Recent Economic Developments," IMF Staff Country Reports 00/03, International Monetary Fund.
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