Transition of a Developing Socialist Economy to a Developing Mixed Economy

Gates, Carolyn; Truong, David

doi:10.1080/08911916.1993.11643854

Cited by 3 publications

(2 citation statements)

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“…When the market mechanism is ruled by command principles, there exist three major issues: difficulties in controlling the activities of the market-oriented sector cause the planning stage and plan implementation for the whole economy to become arduous; the demand for the market itself might easily violate the priorities and values of the regime; and productive resources cannot be underutilized by both sides (Grossman, 1963). Vietnam's transitional economy was driven by a reform in economic thinking that gave birth to the socialist-oriented market economy (Cling et al, 2013, p. 5), where the government maintained an essential role to ensure socialism (Gates and Truong, 1993). Although the reform efforts of the former (market-based) have been widely acknowledged, the latter (socialist orientation) directed by government intervention remains controversial and is viewed with skepticism (Lane, 2005).…”

Section: Political Economics and Tourismmentioning

confidence: 99%

Vietnam tourism at the crossroads of socialism and market economy

Bui,

Pham,

Pham

et al. 2024

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Purpose Vietnam has repositioned itself from a war-torn country to a popular tourist destination. Although research on Vietnam tourism has grown in number, a macro analysis of national tourism governance and policies has largely been missing. Design/methodology/approach This synthesis paper offers a systemic analysis of Vietnam’s tourism accommodating intensified government intervention and dramatic market changes in recent decades. The authors offer a chronological analysis of tourism development along with the major political and economic turns of the country. Findings The patterns of tourism development reflect a compromise between centralization and decentralization of the governance system and a trade-off between economic and social objectives of development. Balancing these opposites, the internal strength of the domestic market and the resilience of communities and businesses become key assets for growth in circumstances where the socialist market economy continues to inform the current and future development of the industry. Research limitations/implications Although the case of Vietnam is unique, the adaptive mechanism of the tourism industry highlighted in this paper offers a useful lesson for other developing countries. The research addresses tourism in the political economy in developing countries, which is valuable for researchers, policy analysts as well as practitioners in tourism. Practical implications The practical contribution of the study is derived from authors’ academic and industrial backgrounds. Findings from the study serve as a useful reference for those who embark on the study of tourism governance and policy-making in developing countries and problems associated with the economic transitional process. Those problems of the disparity between centralization and decentralization of the political system might not be only significant in Vietnam, but also prevail in developing countries. Thus, this study offers a point of departure for future empirical and comparative research on the kindship of tourism and political economy in a full scale. Social implications The transitional economy as viewed through the tourism industry is prominently presented in the “evolutionary” approach to the transitional economy, which exhibits several unique features: the transition from a centrally planned (command) economy to a market economy and the manifestations of a socialist orientation in the modern economic management system (Vuong et al., 2019). While data from this study is mainly illustrative of the first point, the transition from a planned economy to a market economy, the second characteristic, the manifestation of a social orientation has only slightly been addressed and will need further elaboration in a future study. While Vietnam’s tourism positions itself in a socialist market-oriented economy might set a unique case, the study highlights the politics of tourism is shaped by the politico-economic system. The authors conclude that the adaptation of Vietnam tourism to a socialist market-orientated economy is better perceived as a social evolution achievement rather than a feature of capitalism. Originality/value The latest study on tourism governance (Bui et al., 2022) has outlined the evolution of the tourism administrative system and markets in the country; however, linkages of tourism to the broader political economic system have yet to be addressed. Addressing this gap, the authors carry out analysis of policies and governance from the insider’s viewpoint, when team members have been involved in numerous tourism planning and development projects, both on international and national scales. The practical experience along with thorough review of literature and statistical data contributes to shaping a fresh understanding of tourism in a transitional economy.

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Section: Political Economics and Tourismmentioning

confidence: 99%

Vietnam tourism at the crossroads of socialism and market economy

Bui,

Pham,

Pham

et al. 2024

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“…China was both an object lesson in economic reform and a strong political influence on Vietnam. The VCP’s first attempt at economic reform, a 1981-85 effort to “create a modified socialist development strategy that achieved growth, efficiency, and equity ideals,” failed (Gates and Truong 1993, 65). In 1986, the party and the state abandoned the socialist model and endorsed a more radical program of renovation aimed at transforming Vietnam from a centrally planned economy to “socialism with the market characteristics” (Malarney 2002, 1).…”

Section: Wedding Consumption After đ ổ I M ớ Imentioning

confidence: 99%

Vietnamese Weddings

Nguyen

Belk

2011

Journal of Macromarketing

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This article examines the historical role of marriage and wedding rituals in Vietnam, and how they have changed during Vietnam's transition to the market. The authors focus on how changes reflect the society's increasing dependence on the market, how this dependence impacts consumer well-being, and the resulting implications for public policy. Changes in the meanings, function, and structure of wedding ritual consumption are examined. These changes echo shifts in the national economy, social values, social relations, and gender roles in Vietnamese society during the transition. The major findings show that Vietnamese weddings are reflections of (1) the roles of wedding rituals as both antecedents and outcomes of social changes, (2) the nation's perception and imagination of its condition relative to "modernity," and (3) the role of China as a threatening "other" seen as impeding Vietnam's progress toward "modernization."

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State ownership, board characteristics and corporate financial performance in publicy listed firms in Vietnam

Nguyen,

Nguyen

2024

Cogent Social Sciences

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Transition of a Developing Socialist Economy to a Developing Mixed Economy

Cited by 3 publications

References 2 publications

Vietnam tourism at the crossroads of socialism and market economy

Vietnam tourism at the crossroads of socialism and market economy

Vietnamese Weddings

State ownership, board characteristics and corporate financial performance in publicy listed firms in Vietnam

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