Vietnam: Marketization and internationalization of its economy

Dutta, Manoranjan

doi:10.1016/1049-0078(95)90002-0

Cited by 12 publications

(6 citation statements)

References 5 publications

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“…With a population of 92 million, its GDP was USD 204 billion in 2015, after 30 years of socio-economic transitions. Doi Moi has enabled the marketization and internationalization of the economy, bringing about the fruits of the market (Dutta 1995;Riedel and Turley 1999), with the financial system facilitating the transformation (Siregar 1997). The banking system then had total assets of USD 307 billion, about 150% of GDP.…”

Section: Introductionmentioning

confidence: 99%

The financial economy of Viet Nam in an age of reform, 1986–2016

Vuong¹

2018

Routledge Handbook of Banking and Finance in Asia

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Along with the process of reforms, new regulations constitute the governance framework required for achieving strategic goals. The transition period has made lawmaking and enforcement particularly challenging. There are different promulgators in Viet Nam: the Politburo; the National Assembly; the president, the government/prime minister, ministries, and ministerial-level agencies; and the SBV. Legal documents consist of resolutions, laws, circulars/decisions/directives, and decrees. The regulatory framework that governs the financial economy has been built up over the past 10 years (Table 12.1), of which the SBV has issued a relatively large number of regulations. These are important for regulating a large spectrum of financial activities.

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Section: Introductionmentioning

confidence: 99%

The financial economy of Viet Nam in an age of reform, 1986–2016

Vuong¹

2018

Routledge Handbook of Banking and Finance in Asia

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“…With a 92-million population, its GDP was US$204 billion in 2015, resulting in a GDP per capita of US$2,282 after 30 years of socioeconomic transitions, a remarkable achievement compared to US$437 in 1986. Doi Moi has enabled the marketization/internationalization of the economy, bringing about the fruits of the market (Dutta 1995;Napier & Vuong 2013b;Riedel & Turley 1999;Vuong 2010), with the financial system facilitating the transformation (Siregar 1997). The banking system had total assets of US$307 billion in 2015, approximately 150% of GDP.…”

Section: Introductionmentioning

confidence: 99%

The Vietnamese financial economy: reforms and development, 1986-2016

Vuong¹

2018

Preprint

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In an age of reform, Vietnam’s financial systems have come to a critical stage in which the quality of policy-making, independence of the central banking operations and over-risk controls will ultimately be required if the country is set to move forward in a sustainable fashion. Analysts may have different views about Vietnam’s financial economy, but all agree that it has evolved and grown fast over the past three decades. The next course of development will depend on how Vietnamese society views raison d’être of its financial systems and financial health. But the process will much depend on the economic growth of the economy as a whole. Failing to support a sustained growth puts VFS’s existence at risk as economic growth helps mitigate higher risk-taking behavior and contain instability in less competitive markets.

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“…Once macroeconomic stabilization was achieved in early 1990s (Dutta 1995), growth accelerated again averaging 9% over 1992-1995. Because of this high growth and initial reforms of the tax system, tax revenue increased rapidly after 1991.…”

Section: Transition and Inequality: The Initial Conditionsmentioning

confidence: 99%

“…At the beginning of the transition process, alongside the transformation from a socialist into a market economy, Vietnam had to cope with the problem of development and industrialization (Dutta 1995). This predominance of the primary sector had two important implications.…”

Section: Transition and Inequality: The Initial Conditionsmentioning

confidence: 99%

Discovering sources of inequality in transition economies: a case study of rural Vietnam

Molini¹,

Wan

2008

Econ Change

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Applying the recently developed inequality accounting framework, we quantify contributions of fundamental variables to consumption inequality in rural Vietnam. It is found that major determinants of the inequality include location, education, infrastructures. From 1993 to 1998, the contributions of education, physical capital, labour and community infrastructure to total inequality increased while those of land and credit access declined. Ethnicity is found to play a decreasing role in composing total inequality. Policy implications are discussed.

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Vietnam: Marketization and internationalization of its economy

Cited by 12 publications

References 5 publications

The financial economy of Viet Nam in an age of reform, 1986–2016

The financial economy of Viet Nam in an age of reform, 1986–2016

The Vietnamese financial economy: reforms and development, 1986-2016

Discovering sources of inequality in transition economies: a case study of rural Vietnam

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