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Asia Pacific Press| 2003-08 | ISBN: 0731537505 | 308 pages | PDF | 1,3 MB


The book provides a factual account of the economic reform process and economic performance in Viet Nam that should be a useful reference to a broad cross-section of readers. The authors offer a distinctive interpretation of the process of economic reform and the performance of the economy, drawing on their direct observation of the policy-making process and changes in the Vietnamese economy since the late 1980s, as well as domestic and international research. There is considerable discussion of reform processes, the internal debates and pressures that led to reforms. There is a particularly strong focus on the role of institutions, incentives and human capital in encouraging business investment and promoting economic growth.

Since it initiated its Doi Moi economic reforms in the late 1980s, Vietnam has seen consistent rapid economic growth and impressive declines in poverty. The government has taken a selective, step-by-step approach to reform. Analysing aspects of Vietnam's reform process, enterprise development, income growth and poverty alleviation, the authors -- both with long working experience in the country -- argue that Vietnam's remarkable development is not readily explained by the more orthodox versions of the "Washington Consensus." Successful policy is not built on mechanistic replication of some general reform blueprint, but on responding pragmatically to specific national circumstances. Vietnamese policymakers, they conclude, will need to be even more flexible and pragmatic if the country's economic growth is to be sustained.

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