Please use this identifier to cite or link to this item: https://doi.org/10.1162/ASEP-a-00263
DC FieldValue
dc.titleThe institutional root causes of the challenges to Vietnam's long-term economic growth
dc.contributor.authorVu, K.M.
dc.date.accessioned2016-06-02T04:37:37Z
dc.date.available2016-06-02T04:37:37Z
dc.date.issued2014-01
dc.identifier.citationVu, K.M. (2014-01). The institutional root causes of the challenges to Vietnam's long-term economic growth. Asian Economic Papers 13 (1) : 159-189. ScholarBank@NUS Repository. https://doi.org/10.1162/ASEP-a-00263
dc.identifier.issn15353516
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/124928
dc.description.abstractVietnam has achieved impressive economic growth since the dramatic deepening of its economic reforms in March 1989. Although Vietnam's achievements are laudable, the economy appears to face increasingly serious challenges to sustained, robust economic performance in the long term. This paper analyzes Vietnam's economic growth to identify the institutional root causes that will make it difficult for Vietnam to sustain its high growth rates. There are three categories of institutional root causes - economic, administrative, and political - and these three categories are interrelated and mutually reinforcing. The economic institutional weaknesses are the absence of an independent central bank and the dominant role of the state-owned sector. The administrative institutional limitation is the lack of public management capabilities; and the political institutional limitation is the absolute monopolization of power by the Communist Party of Vietnam. I contend that without fundamental institutional reforms, Vietnam will not only be unable to achieve robust economic performance in the long term but also be at risk of experiencing a severe crisis when the regional or global economy experiences a severe shock in the future. © 2014 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1162/ASEP-a-00263
dc.sourceScopus
dc.typeArticle
dc.contributor.departmentLEE KUAN YEW SCHOOL OF PUBLIC POLICY
dc.description.doi10.1162/ASEP-a-00263
dc.description.sourcetitleAsian Economic Papers
dc.description.volume13
dc.description.issue1
dc.description.page159-189
dc.identifier.isiut000331416500013
Appears in Collections:Staff Publications

Show simple item record
Files in This Item:
There are no files associated with this item.

WEB OF SCIENCETM
Citations

2
checked on Jul 27, 2020

Page view(s)

45
checked on Jul 31, 2020

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.