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Vietnam - Ready for Doi Moi II?

Author

Listed:
  • Kokko, Ari

    (The European Institute of Japanese Studies)

Abstract

Compared with its ASEAN neighbors, Vietnam appears to have weathered the Asian crisis quite well. Official statistics indicate a GDP growth rate of 6.6 per cent for the first half of 1998; export growth remains positive, and the dong has depreciated by only 20 per cent against the USD. But the relatively favorable picture has more to do with controls than with sound economic fundamentals. In the absence of comprehensive reforms, the Vietnamese economy will gradually slide into a deeper recession. Influential interest groups, such as SOEs and their employees, hanker after return to central planning. What is needed instead is a Doi Moi II, including measures to liberalize trade, strengthen the financial system and promote transparency throughout the economy.

Suggested Citation

  • Kokko, Ari, 1998. "Vietnam - Ready for Doi Moi II?," SSE/EFI Working Paper Series in Economics and Finance 286, Stockholm School of Economics.
    • Handle: RePEc:hhs:hastef:0286
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    Citations

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    Cited by:

    1. Vuong, Quan-Hoang, 2014. "Vietnam's Political Economy in Transition (1986-2016)," OSF Preprints 48kus, Center for Open Science.
    2. Zahid Shahab Ahmed & Musharaf Zahoor, 2015. "Afghanistan in SAARC," South Asian Survey, , vol. 22(2), pages 171-188, September.
    3. Vuong, Quan-Hoang, 2017. "The Vietnamese financial economy: reforms and development, 1986-2016," OSF Preprints g7e6t, Center for Open Science.
    4. Lyushyna, Yanina, 2017. "Vietnam in ASEAN: International and Economic Transformation," OSF Preprints sxzfw, Center for Open Science.
    5. James A. Giesecke & Tran Hoang Nhi, 2009. "Sources of Growth and Structural Change in the Vietnamese Economy, 1996–2003: A Computable General Equilibrium Analysis," Asian Economic Journal, East Asian Economic Association, vol. 23(2), pages 195-224, June.
    6. Quan-Hoang Vuong, 2014. "Vietnam’s political economy: a discussion on the 1986-2016 period," Working Papers CEB 14-010, ULB -- Universite Libre de Bruxelles.
    7. Le Thanh THUY, 2007. "Does Foreign Direct Investment Have an Impact on the Growth in Labor Productivity of Vietnamese Domestic Firms?," Discussion papers 07021, Research Institute of Economy, Trade and Industry (RIETI).
    8. Tran Nhuan Kien & Yoon Heo, 2008. "Doi Moi Policy and Socio-Economic Development in Vietnam, 1986–2005," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 11(1), pages 205-232, March.
    9. , Aisdl, 2014. "Vietnam's Political Economy in Transition (1986-2016)," OSF Preprints 2wxdg, Center for Open Science.
    10. Phan Minh Ngoc, 2008. "Sources of Vietnam's economic growth," Progress in Development Studies, , vol. 8(3), pages 209-229, July.
    11. Adam Fforde, 2002. "Resourcing Conservative Transition in Vietnam: Rent Switching and Resource Appropriation," Post-Communist Economies, Taylor & Francis Journals, vol. 14(2), pages 203-226.
    12. Mai, Nhat Chi, 2015. "Лимиты Кредитования Как Инструмент Борьбы С Кредитной Цикличностью: Опыт Вьетнама," OSF Preprints p8y39, Center for Open Science.

    More about this item

    Keywords

    Vietnam; Asian crisis; reform; transition;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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