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Vietnam: An Emerging Economy at a CrossRoads

Author

Listed:
  • Quang Truong

    (Emeritus Professor at Maastricht School of Management, The Netherlands. E-mail: Truong@msm.nl)

Abstract

This paper provides an overview of the institutional structure of the business system of Vietnam. It explores the role of the state, the financial system, ownership and corporate governance, the internal structure of the firm (management), employment relations, education and skills formation, inter-company relations (networks), and social capital. It highlights the critical crossroads Vietnam is facing, after a period of steady growth, in a desperate effort to save its economy from going virtually bankrupt as a result of ideological ambiguity, cronyism, vested interests, corruption, poor governance, and the absence of stakeholders’ participation in the process of sustainable development of the country. This paper contributes to the business systems and varieties of state capitalism literatures and identifies institutional contingencies for comparative and international social science research in general.

Suggested Citation

  • Quang Truong, 2013. "Vietnam: An Emerging Economy at a CrossRoads," Working Papers 2013/09, Maastricht School of Management.
  • Handle: RePEc:msm:wpaper:2013/09
    as

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    File URL: http://web2.msm.nl/RePEc/msm/wpaper/MSM-WP2013-09.pdf
    File Function: First version, 2013
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    More about this item

    Keywords

    Vietnam; Asia; business systems; varieties of capitalism; institutions; cronyism; vested interests; corruption; sustainable development;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East

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