|
EconStor >
United Nations University (UNU) >
World Institute for Development Economics Research (UNU-WIDER), United Nations University >
WIDER Working Papers, United Nations University (UNU) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/54038
|
| | |
| Title: | | Globalization crises, trade, and development in Vietnam  |
| Authors: | | Abbott, Philip Tarp, Finn |
| Issue Date: | | 2011 |
| Series/Report no.: | | Working paper // World Institute for Development Economics Research 2011,20 |
| Abstract: | | Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises - the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global trade. Its success contradicts its characterization as an example of export-led growth and highlights the role of the state, particularly in maintaining and influencing investment. Examination of economic performance and policy responses shows rising dependence on foreign finance around each crisis, and actions by the government to counteract that dependence and bolster the domestic economy while continuing to restructure the economy toward greater emphasis on the private sector. Growth, employment and poverty alleviation have been maintained at the expense of renewed inflation, larger budget deficits, and currency depreciation. The stop-go nature of present macroeconomic policy is the consequence of balancing growth versus inflation, responding to severe external shocks and holding to a growth objective in the face of substantial internal and external criticism. |
| Subjects: | | trade and development trade liberalization foreign direct investment globalization WTO accession asian financial crisis great recession Vietnam |
| JEL: | | F13 F14 O24 O53 |
| ISBN: | | 978-92-9230-383-9 |
| Document Type: | | Working Paper |
| Appears in Collections: | | WIDER Working Papers, United Nations University (UNU)
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/54038
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|