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Private Equity amid Evolving Market Institutions: The Case of Vietnam

In: Private Equity in Emerging Markets

Author

Listed:
  • Markus Taussig
  • Matthew Schwarz
  • Kenneth Chin

Abstract

Vietnam provides a compelling illustration of the myriad pros and cons of private equity (PE) investment in emerging economies. The country has experienced two decades of rapid economic growth, driven in large part by substantial foreign direct investment and an appropriate export-oriented focus on comparative advantage in labor-intensive manufacturing. Institutional change has been extraordinary in many respects, including a dramatic reduction in barriers to entrepreneurial entry and a rapid increase in capitalization of the domestic stock market. Vietnam observers also consistently struggle to put their finger on something intangible or cultural: “Scrappy is an understatement for the Vietnamese brand of entrepreneur,” begins one essay on “Vietnam: The Next Frontier” (Fannin, 2011). For these reasons, Vietnam now frequently comes up in discussions of the world’s most promising emerging economies. Making the picture even more compelling, the influential International Finance Corporation argues that the country’s PE market is still underserved.

Suggested Citation

  • Markus Taussig & Matthew Schwarz & Kenneth Chin, 2012. "Private Equity amid Evolving Market Institutions: The Case of Vietnam," Palgrave Macmillan Books, in: Darek Klonowski (ed.), Private Equity in Emerging Markets, chapter 0, pages 261-271, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-30943-3_23
    DOI: 10.1057/9781137309433_23
    as

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