Making Difficult Choices : Vietnam in Transition

After decades of war, with a dilapidated infrastructure and millions of people dead, wounded or displaced, Vietnam could have been considered a hopeless case in economic development. Yet, it is now about to enter the ranks of middle-income countrie...

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Main Author:	Rama, Martin
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ADOPTION AGREEMENT AGRICULTURE ASSETS AT BANK BRANCHES BANKING SECTOR BASIC BILATERAL TRADE BORROWER BUDGET CAPITAL INFLOWS CENTRAL BANK CENTRAL PLANNING CHECK CIVIL SERVANTS CLIMATE CHANGE COLLAPSE COMMERCIAL BANKS COMPLAINTS CONFIDENCE CONTINGENT LIABILITIES CONTRACT CONTRACTS CONTRACTUAL ARRANGEMENTS COPYING CORRUPTION CREDIBILITY CREDIT CREDIT COOPERATIVES DECADES OF WAR DECISION MAKING DECISIONS DEVELOPING COUNTRIES DEVELOPMENT EFFORTS DEVELOPMENT PLANNING DISBURSEMENTS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORMS EFFICIENT MARKETS ENVIRONMENTAL PROTECTION EQUITY EXPENDITURES EXPORTS FAILURES FINANCE FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DECENTRALIZATION FISCAL POLICIES FOREIGN BANK FOREIGN DIRECT INVESTMENT GDP GOODS GOVERNANCE GOVERNMENT GOVERNMENT REVENUE GOVERNMENTS GRAFT GUARANTEE HEALTH INSURANCE HEALTH SECTOR HOLDING HUMAN RESOURCES ILLNESS INCENTIVES INDIVIDUAL HOUSEHOLDS INDUSTRIAL PRODUCTION INFLUENCE INFORMATION INITIATIVE INITIATIVES INNOVATIONS INPUTS INSTRUMENTS INSURANCE INTEREST INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INTERNET INVESTIGATION INVESTIGATORS IT JAIL KNOWLEDGE LAND REFORM LEADERSHIP LEGAL STATUS LENDING LEVEL OF DEVELOPMENT LIBERALIZATION OF TRADE LIVING CONDITIONS LIVING STANDARDS LOCAL AUTHORITIES LOCAL BANK LOCAL POPULATION MARKET MARKET ECONOMIES MARKET ECONOMY MARKET MECHANISMS MARKET PRICE MIDDLE INCOME COUNTRIES MIGRANTS MINISTER MINORITY MONETARY FUND MONETARY POLICY MONOPOLY NATURAL DEATH NATURAL RESOURCE NATURAL RESOURCE MANAGEMENT NETWORK EXTERNALITIES NORMALIZATION OPTION ORGANIZATIONS OUTCOMES PAYMENTS PEACE PENSION PENSIONS PLANNED ECONOMY POLICY DEVELOPMENTS POLICY MAKERS POLITICAL PROCESS POLITICAL TURMOIL POLITICIANS POLITICS POPULATION POPULATION GROUPS POPULATIONS POVERTY PRACTITIONERS PRIVATE INVESTMENT PRIVATIZATION PROFITS PROGRESS PUBLIC INVESTMENTS PUBLIC POLICY RECURRENT EXPENDITURES RESOLUTION RESPECT RETURN SECURITY SERVICES SHARE SOCIAL SCIENCES SOCIAL SECURITY SOCIAL TENSIONS SOCIAL TRANSFORMATIONS STATE BANK STATE PLANNING STOCK STORAGE STRATEGIC INVESTORS STRATEGIES STRATEGY SYSTEM SYSTEMS TECHNICAL ASSISTANCE TECHNICAL CAPACITY THEORY TOLERANCE TRADE BARRIERS TRADING TRAINING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION COUNTRIES TRANSPARENCY URBAN AREAS URBAN DWELLERS VALUE WARS WEALTH WELFARE WITHDRAWAL WORKSHOP WORKSHOPS WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/270911468327590018/Making-difficult-choices-Vietnam-in-transition http://hdl.handle.net/10986/28014

id	okr-10986-28014
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ADOPTION AGREEMENT AGRICULTURE ASSETS AT BANK BRANCHES BANKING SECTOR BASIC BILATERAL TRADE BORROWER BUDGET CAPITAL INFLOWS CENTRAL BANK CENTRAL PLANNING CHECK CIVIL SERVANTS CLIMATE CHANGE COLLAPSE COMMERCIAL BANKS COMPLAINTS CONFIDENCE CONTINGENT LIABILITIES CONTRACT CONTRACTS CONTRACTUAL ARRANGEMENTS COPYING CORRUPTION CREDIBILITY CREDIT CREDIT COOPERATIVES DECADES OF WAR DECISION MAKING DECISIONS DEVELOPING COUNTRIES DEVELOPMENT EFFORTS DEVELOPMENT PLANNING DISBURSEMENTS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORMS EFFICIENT MARKETS ENVIRONMENTAL PROTECTION EQUITY EXPENDITURES EXPORTS FAILURES FINANCE FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DECENTRALIZATION FISCAL POLICIES FOREIGN BANK FOREIGN DIRECT INVESTMENT GDP GOODS GOVERNANCE GOVERNMENT GOVERNMENT REVENUE GOVERNMENTS GRAFT GUARANTEE HEALTH INSURANCE HEALTH SECTOR HOLDING HUMAN RESOURCES ILLNESS INCENTIVES INDIVIDUAL HOUSEHOLDS INDUSTRIAL PRODUCTION INFLUENCE INFORMATION INITIATIVE INITIATIVES INNOVATIONS INPUTS INSTRUMENTS INSURANCE INTEREST INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INTERNET INVESTIGATION INVESTIGATORS IT JAIL KNOWLEDGE LAND REFORM LEADERSHIP LEGAL STATUS LENDING LEVEL OF DEVELOPMENT LIBERALIZATION OF TRADE LIVING CONDITIONS LIVING STANDARDS LOCAL AUTHORITIES LOCAL BANK LOCAL POPULATION MARKET MARKET ECONOMIES MARKET ECONOMY MARKET MECHANISMS MARKET PRICE MIDDLE INCOME COUNTRIES MIGRANTS MINISTER MINORITY MONETARY FUND MONETARY POLICY MONOPOLY NATURAL DEATH NATURAL RESOURCE NATURAL RESOURCE MANAGEMENT NETWORK EXTERNALITIES NORMALIZATION OPTION ORGANIZATIONS OUTCOMES PAYMENTS PEACE PENSION PENSIONS PLANNED ECONOMY POLICY DEVELOPMENTS POLICY MAKERS POLITICAL PROCESS POLITICAL TURMOIL POLITICIANS POLITICS POPULATION POPULATION GROUPS POPULATIONS POVERTY PRACTITIONERS PRIVATE INVESTMENT PRIVATIZATION PROFITS PROGRESS PUBLIC INVESTMENTS PUBLIC POLICY RECURRENT EXPENDITURES RESOLUTION RESPECT RETURN SECURITY SERVICES SHARE SOCIAL SCIENCES SOCIAL SECURITY SOCIAL TENSIONS SOCIAL TRANSFORMATIONS STATE BANK STATE PLANNING STOCK STORAGE STRATEGIC INVESTORS STRATEGIES STRATEGY SYSTEM SYSTEMS TECHNICAL ASSISTANCE TECHNICAL CAPACITY THEORY TOLERANCE TRADE BARRIERS TRADING TRAINING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION COUNTRIES TRANSPARENCY URBAN AREAS URBAN DWELLERS VALUE WARS WEALTH WELFARE WITHDRAWAL WORKSHOP WORKSHOPS WORLD TRADE ORGANIZATION WTO
spellingShingle	ADOPTION AGREEMENT AGRICULTURE ASSETS AT BANK BRANCHES BANKING SECTOR BASIC BILATERAL TRADE BORROWER BUDGET CAPITAL INFLOWS CENTRAL BANK CENTRAL PLANNING CHECK CIVIL SERVANTS CLIMATE CHANGE COLLAPSE COMMERCIAL BANKS COMPLAINTS CONFIDENCE CONTINGENT LIABILITIES CONTRACT CONTRACTS CONTRACTUAL ARRANGEMENTS COPYING CORRUPTION CREDIBILITY CREDIT CREDIT COOPERATIVES DECADES OF WAR DECISION MAKING DECISIONS DEVELOPING COUNTRIES DEVELOPMENT EFFORTS DEVELOPMENT PLANNING DISBURSEMENTS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORMS EFFICIENT MARKETS ENVIRONMENTAL PROTECTION EQUITY EXPENDITURES EXPORTS FAILURES FINANCE FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DECENTRALIZATION FISCAL POLICIES FOREIGN BANK FOREIGN DIRECT INVESTMENT GDP GOODS GOVERNANCE GOVERNMENT GOVERNMENT REVENUE GOVERNMENTS GRAFT GUARANTEE HEALTH INSURANCE HEALTH SECTOR HOLDING HUMAN RESOURCES ILLNESS INCENTIVES INDIVIDUAL HOUSEHOLDS INDUSTRIAL PRODUCTION INFLUENCE INFORMATION INITIATIVE INITIATIVES INNOVATIONS INPUTS INSTRUMENTS INSURANCE INTEREST INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INTERNET INVESTIGATION INVESTIGATORS IT JAIL KNOWLEDGE LAND REFORM LEADERSHIP LEGAL STATUS LENDING LEVEL OF DEVELOPMENT LIBERALIZATION OF TRADE LIVING CONDITIONS LIVING STANDARDS LOCAL AUTHORITIES LOCAL BANK LOCAL POPULATION MARKET MARKET ECONOMIES MARKET ECONOMY MARKET MECHANISMS MARKET PRICE MIDDLE INCOME COUNTRIES MIGRANTS MINISTER MINORITY MONETARY FUND MONETARY POLICY MONOPOLY NATURAL DEATH NATURAL RESOURCE NATURAL RESOURCE MANAGEMENT NETWORK EXTERNALITIES NORMALIZATION OPTION ORGANIZATIONS OUTCOMES PAYMENTS PEACE PENSION PENSIONS PLANNED ECONOMY POLICY DEVELOPMENTS POLICY MAKERS POLITICAL PROCESS POLITICAL TURMOIL POLITICIANS POLITICS POPULATION POPULATION GROUPS POPULATIONS POVERTY PRACTITIONERS PRIVATE INVESTMENT PRIVATIZATION PROFITS PROGRESS PUBLIC INVESTMENTS PUBLIC POLICY RECURRENT EXPENDITURES RESOLUTION RESPECT RETURN SECURITY SERVICES SHARE SOCIAL SCIENCES SOCIAL SECURITY SOCIAL TENSIONS SOCIAL TRANSFORMATIONS STATE BANK STATE PLANNING STOCK STORAGE STRATEGIC INVESTORS STRATEGIES STRATEGY SYSTEM SYSTEMS TECHNICAL ASSISTANCE TECHNICAL CAPACITY THEORY TOLERANCE TRADE BARRIERS TRADING TRAINING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION COUNTRIES TRANSPARENCY URBAN AREAS URBAN DWELLERS VALUE WARS WEALTH WELFARE WITHDRAWAL WORKSHOP WORKSHOPS WORLD TRADE ORGANIZATION WTO Rama, Martin Making Difficult Choices : Vietnam in Transition
geographic_facet	East Asia and Pacific Vietnam
relation	Commission on Growth and Development Working Paper;No. 40
description	After decades of war, with a dilapidated infrastructure and millions of people dead, wounded or displaced, Vietnam could have been considered a hopeless case in economic development. Yet, it is now about to enter the ranks of middle-income countries. The obvious question is: How did this happen? This paper goes one step further, asking not which policies were adopted, but rather why they were adopted. This question is all the more intriguing because the process did not involve one group of individuals displacing another within the structure of power. To answer this question, the paper relies on the insights of those who were actually involved in the economic experiments, conceptual discussions, and political maneuvering that led to the adoption of key reforms. Especially, it builds on a series of long and regular conversations with H. E. the late Vo Van Kiet, one of Vietnam's leading figures. In doing so, it brings into the open the inside story of Doi Moi, a process that is not known by outsiders and remains opaque to most Vietnamese. The relevance of this exercise is not merely historical. Understanding how reforms were engineered may yield valuable lessons for other developing countries. It is also relevant for Vietnam, as two decades of rapid economic growth have resulted in dramatic changes in its economy and society. While praising the decision-making processes that allowed Vietnam to successfully emerge from poverty, the paper also explores the adjustments that could be needed for it to become an industrial country.
format	Working Paper
author	Rama, Martin
author_facet	Rama, Martin
author_sort	Rama, Martin
title	Making Difficult Choices : Vietnam in Transition
title_short	Making Difficult Choices : Vietnam in Transition
title_full	Making Difficult Choices : Vietnam in Transition
title_fullStr	Making Difficult Choices : Vietnam in Transition
title_full_unstemmed	Making Difficult Choices : Vietnam in Transition
title_sort	making difficult choices : vietnam in transition
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/270911468327590018/Making-difficult-choices-Vietnam-in-transition http://hdl.handle.net/10986/28014
_version_	1764465969120411648
spelling	okr-10986-280142021-04-23T14:04:46Z Making Difficult Choices : Vietnam in Transition Rama, Martin ADOPTION AGREEMENT AGRICULTURE ASSETS AT BANK BRANCHES BANKING SECTOR BASIC BILATERAL TRADE BORROWER BUDGET CAPITAL INFLOWS CENTRAL BANK CENTRAL PLANNING CHECK CIVIL SERVANTS CLIMATE CHANGE COLLAPSE COMMERCIAL BANKS COMPLAINTS CONFIDENCE CONTINGENT LIABILITIES CONTRACT CONTRACTS CONTRACTUAL ARRANGEMENTS COPYING CORRUPTION CREDIBILITY CREDIT CREDIT COOPERATIVES DECADES OF WAR DECISION MAKING DECISIONS DEVELOPING COUNTRIES DEVELOPMENT EFFORTS DEVELOPMENT PLANNING DISBURSEMENTS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC REFORMS EFFICIENT MARKETS ENVIRONMENTAL PROTECTION EQUITY EXPENDITURES EXPORTS FAILURES FINANCE FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DECENTRALIZATION FISCAL POLICIES FOREIGN BANK FOREIGN DIRECT INVESTMENT GDP GOODS GOVERNANCE GOVERNMENT GOVERNMENT REVENUE GOVERNMENTS GRAFT GUARANTEE HEALTH INSURANCE HEALTH SECTOR HOLDING HUMAN RESOURCES ILLNESS INCENTIVES INDIVIDUAL HOUSEHOLDS INDUSTRIAL PRODUCTION INFLUENCE INFORMATION INITIATIVE INITIATIVES INNOVATIONS INPUTS INSTRUMENTS INSURANCE INTEREST INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INTERNET INVESTIGATION INVESTIGATORS IT JAIL KNOWLEDGE LAND REFORM LEADERSHIP LEGAL STATUS LENDING LEVEL OF DEVELOPMENT LIBERALIZATION OF TRADE LIVING CONDITIONS LIVING STANDARDS LOCAL AUTHORITIES LOCAL BANK LOCAL POPULATION MARKET MARKET ECONOMIES MARKET ECONOMY MARKET MECHANISMS MARKET PRICE MIDDLE INCOME COUNTRIES MIGRANTS MINISTER MINORITY MONETARY FUND MONETARY POLICY MONOPOLY NATURAL DEATH NATURAL RESOURCE NATURAL RESOURCE MANAGEMENT NETWORK EXTERNALITIES NORMALIZATION OPTION ORGANIZATIONS OUTCOMES PAYMENTS PEACE PENSION PENSIONS PLANNED ECONOMY POLICY DEVELOPMENTS POLICY MAKERS POLITICAL PROCESS POLITICAL TURMOIL POLITICIANS POLITICS POPULATION POPULATION GROUPS POPULATIONS POVERTY PRACTITIONERS PRIVATE INVESTMENT PRIVATIZATION PROFITS PROGRESS PUBLIC INVESTMENTS PUBLIC POLICY RECURRENT EXPENDITURES RESOLUTION RESPECT RETURN SECURITY SERVICES SHARE SOCIAL SCIENCES SOCIAL SECURITY SOCIAL TENSIONS SOCIAL TRANSFORMATIONS STATE BANK STATE PLANNING STOCK STORAGE STRATEGIC INVESTORS STRATEGIES STRATEGY SYSTEM SYSTEMS TECHNICAL ASSISTANCE TECHNICAL CAPACITY THEORY TOLERANCE TRADE BARRIERS TRADING TRAINING TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSITION COUNTRIES TRANSPARENCY URBAN AREAS URBAN DWELLERS VALUE WARS WEALTH WELFARE WITHDRAWAL WORKSHOP WORKSHOPS WORLD TRADE ORGANIZATION WTO After decades of war, with a dilapidated infrastructure and millions of people dead, wounded or displaced, Vietnam could have been considered a hopeless case in economic development. Yet, it is now about to enter the ranks of middle-income countries. The obvious question is: How did this happen? This paper goes one step further, asking not which policies were adopted, but rather why they were adopted. This question is all the more intriguing because the process did not involve one group of individuals displacing another within the structure of power. To answer this question, the paper relies on the insights of those who were actually involved in the economic experiments, conceptual discussions, and political maneuvering that led to the adoption of key reforms. Especially, it builds on a series of long and regular conversations with H. E. the late Vo Van Kiet, one of Vietnam's leading figures. In doing so, it brings into the open the inside story of Doi Moi, a process that is not known by outsiders and remains opaque to most Vietnamese. The relevance of this exercise is not merely historical. Understanding how reforms were engineered may yield valuable lessons for other developing countries. It is also relevant for Vietnam, as two decades of rapid economic growth have resulted in dramatic changes in its economy and society. While praising the decision-making processes that allowed Vietnam to successfully emerge from poverty, the paper also explores the adjustments that could be needed for it to become an industrial country. 2017-08-28T17:13:41Z 2017-08-28T17:13:41Z 2008 Working Paper http://documents.worldbank.org/curated/en/270911468327590018/Making-difficult-choices-Vietnam-in-transition http://hdl.handle.net/10986/28014 English en_US Commission on Growth and Development Working Paper;No. 40 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research East Asia and Pacific Vietnam

Making Difficult Choices : Vietnam in Transition

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