"The authors show how development of non-plan trading relations was based on supplies of scarce, aid-subsidised goods which provided the means for local authorities, enterprises and individuals to convert their positions of political and social power into capital. They further highlight the ways in which new, market-oriented trade relations emerged in symbiosis with the planning system and continue to influence the economic structure and institutions today. Economic Transition in Vietnam outlines the many problems currently facing Vietnam, not least how new global forms of integration are affecting future development."--BOOK JACKET.
This clear and accessible text explores Vietnam's successful transition from neo-Stalinist central planning to a market economy—\"Vietnamese style.\" After describing the north Vietnamese system prior to 1975 and its colonial and precolonial antecedents, the authors uncover the mechanisms of that changeover. They contend that the Vietnamese transition was largely bottom-up in character and that it evolved over a long enough period for the country's political economy to adjust. This explains in part the rapid shift to a high-growth, externally oriented development path in the early 1990s, despite the loss of Soviet aid and the lack of significant Western substitutes until 1992-1993. Based upon extensive incountry experience, a wealth of primary materials, and wide comparative knowledge of development issues, the book challenges many preconceived notions, both about Vietnam and about the general nature of transition processes.
After a precipitate reunification (1975), the Hanoi leadership imposed upon the South the Stalinist-Maoist strategy of economic development which had been until then applied in the North. This "Northernization" resulted in an economic crisis for the whole country during the last years of the Second Five-Year Plan. Despite some partial reforms, the country was again plunged into a more serious economic and financial crisis at the end of the Third Five-Year Plan, particularly after the ill-conceived monetary reform in September 1985. At the time of its Sixth National Congress (December 1986) the Party's new leadership advocated a strategic shift in its overall economic policy under the banner of Doi Moi (Renovation).
Thirty years of Ä?ổi Má»›i (economic renovation) reforms have catapulted Vietnam from the ranks of the world’s poorest countries to one of its great development success stories. Critical ingredients have been visionary leaders, a sense of shared societal purpose, and a focus on the future. Starting in the late 1980s, these elements were successfully fused with the embrace of markets and the global economy. Economic growth since then has been rapid, stable, and inclusive, translating into strong welfare gains for the vast majority of the population. But three decades of success from reforms raises expectations for the future, as aptly captured in the Vietnamese constitution, which sets the goal of “a prosperous people and a strong, democratic, equitable, and civilized country.†? There is a firm aspiration that by 2035, Vietnam will be a modern and industrialized nation moving toward becoming a prosperous, creative, equitable, and democratic society. The Vietnam 2035 report, a joint undertaking of the Government of Vietnam and the World Bank Group, seeks to better comprehend the challenges and opportunities that lie ahead. It shows that the country’s aspirations and the supporting policy and institutional agenda stand on three pillars: balancing economic prosperity with environmental sustainability; promoting equity and social inclusion to develop a harmonious middle- class society; and enhancing the capacity and accountability of the state to establish a rule of law state and a democratic society. Vietnam 2035 further argues that the rapid growth needed to achieve the bold aspirations will be sustained only if it stands on faster productivity growth and reflects the costs of environmental degradation. Productivity growth, in turn, will benefit from measures to enhance the competitiveness of domestic enterprises, scale up the benefits of urban agglomeration, and build national technological and innovative capacity. Maintaining the record on equity and social inclusion will require lifting marginalized groups and delivering services to an aging and urbanizing middle-class society. And to fulfill the country’s aspirations, the institutions of governance will need to become modern, transparent, and fully rooted in the rule of law.
This book examines how the interaction between political and economic factors under Doi Moi has shaped Vietnam’s China policy and bilateral relations since the late 1980s. After providing a historical background, the book examines the conflicting effects that Doi Moi has generated on bilateral relations. It demonstrates that Vietnam’s economic considerations following the adoption of Doi Moi contributed decidedly to the Sino-Vietnamese normalization in 1991 as well as the continuous improvements in bilateral ties ever since. At the same time, Vietnam’s economic activities in the South China Sea and China’s responses have intensified bilateral rivalry and put their ties under considerable strains. The book goes on to argue that Doi Moi has indeed brought Vietnam newfound opportunities to develop a multi-level omni-directional hedging strategy against China. Finally, the book concludes by looking at the prospects of democratization in both countries and assessing the future trajectory of their relations under such circumstances. As the most comprehensive and up-to-date survey of Vietnam’s relations with China over the past thirty years, the book is a useful reference source for academics, policymakers, students, and anyone interested in contemporary Vietnam foreign policy in general and Vietnam–China relations in particular.
Economic reforms in Vietnam have allowed its ethnic Chinese citizens to prosper, but growing Chinese economic strength harbours the seeds of political problems. The topic is also meshed with the larger concern of Sino-Vietnamese relations, which in the best of times can be coloured by a suspicion which goes back centuries. In the worst of times, as in 1978/79, both sides were engaged in open warfare. To understand the current situation, this book delves into the origins of Chinese settlement in Vietnam, tracking the flow of history through the major events which have shaped the Chinese mercantile community and made it what it is today. The most significant feature of this work is that it draws on Western, Russian, and Vietnamese sources, as well as the writer's own familiarity with the actual situation on the ground.
Rent seeking continues to be a topic of much discussion and debate within the political economy. This new study challenges previous assumptions and sets out a new analysis of the dynamics of rent and rent seeking in development, using Vietnam as a case study. This book provides an alternative approach to the study of economic development and illuminates new perspectives in a contemporary context. It argues that not only has there been an incomplete understanding of Vietnam’s industrial development over the last three decades, but that neoclassical economics do not adequately address many of the issues endangering Vietnam’s development. A significant observation of the Vietnamese experience is the analytical view that rents can be developmental and growth enhancing if the configuration of rent management incentivizes industrial upgrade and conditions firm performance. Underlining the need to reexamine how economic actors and the state collaborate through formal and informal institutions, this study fills a gap in the scholarship of the political economy of rent and rent seeking and how rents might be used for developmental purposes.
During the last two decades, Vietnam has been undergoing a process of deregulating economic activities and integrating into the global economy. The passing of the Enterprise Law in 1999, which facilitated the establishment of private enterprises, and the achievement of membership of the World Trade Organization (WTO) in 2007 were two of the landmark events in Vietnam's rapid growth over this period. In order to cope with such a socioeconomic and institutional transformation, Vietnam's domestic economic entities have employed various measures, including technical upgrading, a shift into new areas of business, the diversification of capital acquisition, the adoption of new models of corporate governance, and other measures. As a result, the reorganization of Vietnam's domestic economic entities, such as the equitization of many state-owned enterprises, the emergence of large-scale private enterprises and the revitalization of rural entrepreneurs have taken place in many areas. This book attempts to analyze economic activity in Vietnam, covering a variety of types and sizes of Vietnam's domestic economic entities from large-scale stateowned enterprises to micro-scale rural entrepreneurs.
This book is a case study of Vietnam's efforts to fight poverty using market-oriented land reforms. In the 1980s and 1990s, the country undertook major institutional reforms, and an impressive reduction in poverty followed. But what role did the reforms play? Did the efficiency gains from reform come at a cost to equity? Were there both winners and losers? Was rising rural landlessness in the wake of reforms a sign of success or failure? 'Land in Transition' investigates the impacts on living standards of the two stages of land law reform: in 1988, when land was allocated to households administratively and output markets were liberalized; and in 1993, when official land titles were introduced and land transactions were permitted for the first time since communist rule began. To fully assess the poverty impacts of these changes, the authors' analysis of household surveys is guided by both economic theory and knowledge of the historical and social contexts. The book delineates lessons from Vietnam's experience and their implications for current policy debates in China and elsewhere.
