Economic Innovation in Vietnam in the Period after 1986

Ngo Xuan Binh, Nguyen Thi Ngoc, Le Thi Hang Nga and Tran Ngoc Diem

Economic Studies journal, 2020, issue 4, 131-147

Abstract: During the period from 1975 to 1986, Vietnam had to face a serious economic crisis. Difficulties and problems came from poverty, war consequences, unfavourable changes of the international situation and especially the outmodedness of the economic model of centralized bureaucratic planning. Therefore, Vietnam had to undertake a program of economic innovation, known as "Doi Moi" (Innovation) in 1986. Up to now, after 34 years, Economic Innovation has brought many achievements in terms of growth rate, the scale of the economy, the shifting of the economic structure toward modernization, institutional innovation and extended international integration… However, at the same time, there remain problematic issues such as quality of growth, productivity and sustainable development…., to be tackled with. In fact, this is the first economic innovation (1986-2019). These contents will be analyzed and evaluated by the article on the basis of the model of economic innovation through a process of change and continuity in the market economy thinking in Vietnam.

JEL-codes: N00 (search for similar items in EconPapers)
Date: 2020
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