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The Cultural Dimensions of the Vietnamese Private Entrepreneurship

Author

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  • Quan-Hoang Vuong
  • Tran Tri Dung

Abstract

In this essay, we explore cultural impacts on the private entrepreneurship in the post-Doi Moi Vietnam. Some important aspects of the traditional cultural values of the Vietnamese society are explored in conjunction with the socio-economic changes over the past two decades. Traditional cultural values continue to have strong impacts on the Vietnamese society, and to a large extent to adversely affect the entrepreneurial spirit of the community. Typical constraints private entrepreneurs face may have roots in the cultural facet as legacy of the Confucian society, such as relationship-based bank credit. Low quality business education is both victim and culprit of the long-standing tradition that looks down on the role of private entrepreneurship in the country.

Suggested Citation

  • Quan-Hoang Vuong & Tran Tri Dung, 2009. "The Cultural Dimensions of the Vietnamese Private Entrepreneurship," Working Papers CEB 09-027.RS, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:sol:wpaper:09-027
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    File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/54318/1/RePEc_sol_wpaper_09-027.pdf
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    References listed on IDEAS

    as
    1. André Farber & Nguyen Huu Tu & Tran Tri Dung & Quan-Hoang Vuong, 2008. "The financial storms in Vietnam's transition economy: a reasoning on the 1991-2008 period," Working Papers CEB 08-023.RS, ULB -- Universite Libre de Bruxelles.
    2. John McMillan & Christopher Woodruff, 2002. "The Central Role of Entrepreneurs in Transition Economies," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 153-170, Summer.
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    Citations

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    Cited by:

    1. Quan-Hoang Vuong, 2018. "The Internet and the grassroots foundation of civil society in Indochina," Working Papers CEB 18-027, ULB -- Universite Libre de Bruxelles.
    2. Quan-Hoang Vuong & Nancy K. Napier, 2012. "Resource Curse or Destructive Creation: A Tale of Crony Capitalism in Transition," Working Papers CEB 12-037, ULB -- Universite Libre de Bruxelles.
    3. Quang-Hoi Vu & Thu Trang Vuong & Quan-Hoang Vuong, 2016. "Relationship between past experience, social network participation and creative capacity: Vietnamese entrepreneurship survey," Working Papers CEB 16-032, ULB -- Universite Libre de Bruxelles.
    4. Quan-Hoang Vuong & Van Nhue Dam & Daniel van Houtte & Tri Dung Tran, 2011. "The Entrepreneurial Facets as Precursor to Vietnam’s Economic Renovation in 1986," Working Papers CEB 11-010, ULB -- Universite Libre de Bruxelles.
    5. Quan-Hoang Vuong & Manh Tung Ho & Viet-Phuong La & Van Nhue Dam & Bui Quang Khiem & Nghiem Phu Kien Cuong & Thu-Trang Vuong & Hong Kong Nguyen & Ha Viet Nguyen & Hiep-Hung Pham & Nancy K. Napier, 2018. ""Cultural additivity" and how the values and norms of Confucianism, Buddhism, and Taoism co-exist, interact, and influence Vietnamese society: A Bayesian analysis of long-standing folktales,," Working Papers CEB 18-015, ULB -- Universite Libre de Bruxelles.
    6. Quan-Hoang Vuong & Nancy K. Napier & Donaldine E. Samson & Hong Kong Nguyen, 2013. "Empirical Evidence on Relationships between Ex Ante Innovation Pursuit and Post-M&A Performance in the Vietnamese M&A Industry, 2005-2012," Working Papers CEB 13-009, ULB -- Universite Libre de Bruxelles.
    7. Quan-Hoang Vuong & Tran Tri Dung, 2010. "Corporate Bond Market in the Transition Economy of Vietnam, 1990-2010," Working Papers CEB 10-001.RS, ULB -- Universite Libre de Bruxelles.
    8. Quan-Hoang Vuong, 2014. "The Harsh Reality of Pursuing Innovations: Emerging Market Perspectives," Working Papers CEB 14-028, ULB -- Universite Libre de Bruxelles.
    9. Quan-Hoang Vuong & Nancy K. Napier & Tran Tri Dung, 2013. "Rent-seekers' lost El Dorado: Vietnam's financial turmoil, 2007-2013," Working Papers CEB 13-020, ULB -- Universite Libre de Bruxelles.
    10. Vu Dang Le Nguyen & Nancy K. Napier & Quan-Hoang Vuong, 2012. "It Takes Two to Tango: Entrepreneurship and Creativity in Troubled Times – Vietnam 2012," Working Papers CEB 12-022, ULB -- Universite Libre de Bruxelles.

    More about this item

    Keywords

    Culture; Confucian values; Confucianism; Entrepreneurship; Market economy; Rent seeking; Vietnam;

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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