Globalization Crises, Trade and Development in Vietnam

TY - JOUR

T1 - Globalization Crises, Trade and Development in Vietnam

AU - Abbott, Philip

AU - Tarp, Finn

N1 - JEL Classification: F13, F14, O24, O53

PY - 2012/2/1

Y1 - 2012/2/1

N2 - Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises. 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.

AB - Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises. 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.

KW - Faculty of Social Sciences

U2 - 10.1142/S1793993312400066

DO - 10.1142/S1793993312400066

M3 - Journal article

SN - 1793-9933

VL - 3

JO - Journal of International Commerce, Economics and Policy

JF - Journal of International Commerce, Economics and Policy

IS - 1

ER -