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Globalisation and Labour Markets in Boom and Crisis: The Case of Vietnam

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  • Chris Manning

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Abstract

This paper examines the impact of the global financial crisis on the Vietnam labour market against the backdrop of economic performance and labour dynamics before the crisis. The impact on labour has been milder compared with several neighbouring countries, than might have been expected for a country with Vietnam’s degree of international exposure. This can attributed to the timely stimulus package of late 2008, the tight labour market before the crisis, the competitive nature of Vietnam’s key exports and the private sector’s capacity to compete globally. Although flexible labour markets have ensured low unemployment, we argue that aspects of the institutional environment have contributed to slower labour market adjustment. Shortages of skilled labour, labour market rigidities and an under-developed industrial relations system could delay recovery and constrain future growth.

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File URL: https://crawford.anu.edu.au/acde/publications/publish/papers/wp2009/wp_econ_2009_17.pdf
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Bibliographic Info

Paper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 2009-17.

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Length: 53 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:pas:papers:2009-17

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Keywords: global financial crisis; exports; FDI; employment; labour market adjustment; labour institutions; Vietnam;

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Cited by:
  1. Ian Coxhead & Vu Hoang Linh & Le Dong Tam, 2012. "Global market shocks and poverty in Vietnam: the case of rice," Working Papers 32, Development and Policies Research Center (DEPOCEN), Vietnam.
  2. Rossana Patron, 2013. "Recovery not fast enough? Notes on speeding up," Discussion Papers 13/06, University of Nottingham, School of Economics.
  3. Rossana Patrón, 2012. "Short-term specificity and training: Key issues for economic restructuring," Documentos de Trabajo (working papers) 0212, Department of Economics - dECON.
  4. Brennan, Donna C. & Petersen, Elizabeth H. & Que, Nguyen Ngoc & Vanzetti, David, 2012. "Rural-Urban Migration and Vietnamese Agriculture," 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia 124405, Australian Agricultural and Resource Economics Society.
  5. Mustapha K. Nabli, 2011. "The Great Recession and Developing Countries : Economic Impact and Growth Prospects," World Bank Publications, The World Bank, number 2539, October.

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