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The Global Crisis and Medium Term Growth Prospects for Developing Countries: the case of Vietnam

Author

Listed:
  • Anh Ngoc Nguyen

    () (Development and Policies Research Center (DEPOCEN), Vietnam)

  • Nhat Duc Nguyen

    () (Development and Policies Research Center (DEPOCEN), Vietnam)

  • Chuc Dinh Nguyen

    (Aston University, UK)

  • Nguyen Thang

    (Center for Analysis and Forecasting, Vietnam)

Abstract

Thanks to the high economic growth rate during the last 20 years, Vietnam is expected to join the middle-income country group by around 2010. The global financial crisis has severely impacted many countries, including Vietnam. The crisis together with the recent turbulence of macroeconomic development in the last two years has opened up several weakness of the economy, and begged the question whether Vietnam can continue her present course of economic development in the face of a changing world? This paper is an initial attempt to answer this question by (i) reviewing the economic development of Vietnam during the last 20 years, (ii) analyzing the impacts of the crisis on Vietnam and the policy responses by the government; and (iii) suggests some medium-term prospects and policy implications for the country.

Suggested Citation

  • Anh Ngoc Nguyen & Nhat Duc Nguyen & Chuc Dinh Nguyen & Nguyen Thang, 2010. "The Global Crisis and Medium Term Growth Prospects for Developing Countries: the case of Vietnam," Working Papers 08, Development and Policies Research Center (DEPOCEN), Vietnam.
  • Handle: RePEc:dpc:wpaper:0810
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    More about this item

    Keywords

    Global crisis; Vietnam; growth; GDP decomposition;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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