Economic growth and balance-of-payments constraint in Vietnam
Our paper applies a multi-country BoP constrained growth model to Vietnam for the period 1985-2010. We find that Vietnam grew less than the rate predicted by the model during the entire period considered, but with different behavior for the 1998-2010 sub-period. The relative price effect is neutral, allowing the volume effects to dominate in setting the BoP constraint. The high income elasticities of exports enable growth in the advanced countries to have a multiplier effect on the Vietnamese economy. However, this effect is hindered by a high “appetite” for imports coming from Asia. We also assess the impact of the current crisis on Vietnam’s growth for the period 2011-2017.
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| Length: | 23 pages |
| Date of creation: | Aug 2013 |
| Publication status: | Forthcoming in Journal of Post-Keynesian Economics |
| Handle: | RePEc:ais:wpaper:1302 |
| Contact details of provider: | Postal: via Filippo Marchetti 19, I-00199 Roma, Italy Web page: http://www.asimmetrie.org Email: More information through EDIRC
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