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Title:The challenges posed by globalization for economic liberalization in two Asian transitional countries: Laos and Vietnam PDF Logo
Authors:Freeman, Nick J.
Issue Date:2001
Series/Report no.:WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/40
Abstract:This paper examines the impact of globalization on two transitional economies in Asia. Both countries have undergone a radical economic reform process over the past decade, assisted by increases in external trade flows, foreign investment activity, and external assistance. However, the pace of economic reform has decelerated since the perceived perils of globalization—as evidenced by the Asian Crisis—have become more apparent to the leaderships of these two avowedly socialist states. Although neighbouring and fraternal countries, adopting broadly parallel economic liberalisation programmes, the forces of globalization have manifested themselves in different ways in Laos and Vietnam. The paper discerns these differences, and assesses whether the two countries are likely to overcome the current hiatus in their economic reform programmes.
Subjects:globalization backlash
foreign direct investment
East Asia.
JEL:F21
O38
O53
Document Type:Working Paper
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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