Vietnamese economy at the crossroads: New doi moi for sustained growth

Research output: Contribution to journalArticle

17 Citations (Scopus)

Abstract

Thanks to doi moi, Vietnam was successful in escaping the poverty trap and emerged as a lower middle-income country in the late 2000s. From that time, however, the Vietnamese economy entered a new phase, which has been characterized by slow growth, weak international competitiveness, and macroeconomic instability. Apart from short-term problems associated with the management of increasing foreign capital, the major factors accounting for the difficulties of Vietnam's current economic phase can be attributed to the Vietnamese style of the gradualist strategy of transition from a planned to a market economy, which protects state-owned enterprises, and consequently to the failure to respond to the rapid rise of China. For further industrialization and sustained growth, Vietnam should embrace a new doi moi that follows the efficient type of gradualist strategy, with a special focus on new reforms of state-owned enterprises and a policy that promotes the country' s dynamic comparative advantage.

Original languageEnglish
Pages (from-to)122-143
Number of pages22
JournalAsian Economic Policy Review
Volume8
Issue number1
DOIs
Publication statusPublished - 2013 Jun

Fingerprint

state owned enterprise
Vietnam
comparative advantage
economy
macroeconomics
industrialization
poverty
income
market economy
competitiveness
economics
reform
China
management
Sustained growth
State-owned enterprises
international competitiveness
policy
Factors
Market economy

Keywords

  • Doi moi
  • Dynamic comparative advantage
  • Gradualist transition strategy
  • International competitiveness
  • O10
  • O11
  • O14
  • O43
  • O53
  • State-owned enterprise

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Management, Monitoring, Policy and Law
  • Political Science and International Relations

Cite this

Vietnamese economy at the crossroads : New doi moi for sustained growth. / Tran, Van Tho.

In: Asian Economic Policy Review, Vol. 8, No. 1, 06.2013, p. 122-143.

Research output: Contribution to journalArticle

@article{03a80499c42b411db5b53cce85d7401b,
title = "Vietnamese economy at the crossroads: New doi moi for sustained growth",
abstract = "Thanks to doi moi, Vietnam was successful in escaping the poverty trap and emerged as a lower middle-income country in the late 2000s. From that time, however, the Vietnamese economy entered a new phase, which has been characterized by slow growth, weak international competitiveness, and macroeconomic instability. Apart from short-term problems associated with the management of increasing foreign capital, the major factors accounting for the difficulties of Vietnam's current economic phase can be attributed to the Vietnamese style of the gradualist strategy of transition from a planned to a market economy, which protects state-owned enterprises, and consequently to the failure to respond to the rapid rise of China. For further industrialization and sustained growth, Vietnam should embrace a new doi moi that follows the efficient type of gradualist strategy, with a special focus on new reforms of state-owned enterprises and a policy that promotes the country' s dynamic comparative advantage.",
keywords = "Doi moi, Dynamic comparative advantage, Gradualist transition strategy, International competitiveness, O10, O11, O14, O43, O53, State-owned enterprise",
author = "Tran, {Van Tho}",
year = "2013",
month = "6",
doi = "10.1111/aepr.12012",
language = "English",
volume = "8",
pages = "122--143",
journal = "Asian Economic Policy Review",
issn = "1832-8105",
publisher = "Wiley-Blackwell",
number = "1",

}

TY - JOUR

T1 - Vietnamese economy at the crossroads

T2 - New doi moi for sustained growth

AU - Tran, Van Tho

PY - 2013/6

Y1 - 2013/6

N2 - Thanks to doi moi, Vietnam was successful in escaping the poverty trap and emerged as a lower middle-income country in the late 2000s. From that time, however, the Vietnamese economy entered a new phase, which has been characterized by slow growth, weak international competitiveness, and macroeconomic instability. Apart from short-term problems associated with the management of increasing foreign capital, the major factors accounting for the difficulties of Vietnam's current economic phase can be attributed to the Vietnamese style of the gradualist strategy of transition from a planned to a market economy, which protects state-owned enterprises, and consequently to the failure to respond to the rapid rise of China. For further industrialization and sustained growth, Vietnam should embrace a new doi moi that follows the efficient type of gradualist strategy, with a special focus on new reforms of state-owned enterprises and a policy that promotes the country' s dynamic comparative advantage.

AB - Thanks to doi moi, Vietnam was successful in escaping the poverty trap and emerged as a lower middle-income country in the late 2000s. From that time, however, the Vietnamese economy entered a new phase, which has been characterized by slow growth, weak international competitiveness, and macroeconomic instability. Apart from short-term problems associated with the management of increasing foreign capital, the major factors accounting for the difficulties of Vietnam's current economic phase can be attributed to the Vietnamese style of the gradualist strategy of transition from a planned to a market economy, which protects state-owned enterprises, and consequently to the failure to respond to the rapid rise of China. For further industrialization and sustained growth, Vietnam should embrace a new doi moi that follows the efficient type of gradualist strategy, with a special focus on new reforms of state-owned enterprises and a policy that promotes the country' s dynamic comparative advantage.

KW - Doi moi

KW - Dynamic comparative advantage

KW - Gradualist transition strategy

KW - International competitiveness

KW - O10

KW - O11

KW - O14

KW - O43

KW - O53

KW - State-owned enterprise

UR - http://www.scopus.com/inward/record.url?scp=84877887773&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84877887773&partnerID=8YFLogxK

U2 - 10.1111/aepr.12012

DO - 10.1111/aepr.12012

M3 - Article

AN - SCOPUS:84877887773

VL - 8

SP - 122

EP - 143

JO - Asian Economic Policy Review

JF - Asian Economic Policy Review

SN - 1832-8105

IS - 1

ER -