Viet Nam: Setting the Scene

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Viet Nam is a populous Southeast Asian economy with a particular socioeconomic and political history. At the end of the ‘American War’ in 1975 ambitions for the future were high, but despite its many potentials, the economy remained poor. International isolation played its role as did centralist policies; and the five-year plan adopted in 1976 turned out as a complete failure. Economic policies started to be reversed following economic collapse in the mid-1980s, and Viet Nam initiated its home-grown Doi Moi reform process. Accordingly, wide-ranging institutional reforms have been gradually implemented since then, including a greater reliance on market forces in the allocation of resources and the determination of prices. A shift from an economy dominated by the state and cooperative sectors to a situation where the private sector and foreign investment account for a relatively high proportion of GDP can also be noted.
Original languageEnglish
Title of host publicationGrowth, Structural Transformation, and Rural Change in Viet Nam : A Rising Dragon on the Move
EditorsFinn Tarp
PublisherOxford University Press
Publication date2017
ISBN (Print)9780198796961
Publication statusPublished - 2017
SeriesUNU-WIDER Studies in Development Economics

    Research areas

  • Faculty of Social Sciences - agriculture, development process, household survey, poverty reduction, structural transformation, Viet Nam

ID: 171615688