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Nhan đề: Globalization Crises, Trade, and Development in Vietnam
Tác giả: Abbott, Philip
Tarp, Finn
Từ khoá: Trade and development
Trade liberalization
Foreign direct investment
WTO accession
Asian financial crisis
Great recession
Viet Nam
Tùng thư/Số báo cáo: Journal of international commerce, economics and policy, 2011;Volume 3, Page 1-23
Tóm tắt: 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.
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ISSN: 1793-9933
Appears in Collections:Economic development

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