Private Equity amid Evolving Market Institutions: The Case of Vietnam

Markus Taussig, Matthew Schwarz and Kenneth Chin

Chapter Chapter 23 in Private Equity in Emerging Markets, 2012, pp 261-271 from Palgrave Macmillan

Abstract: Abstract Vietnam provides a compelling illustration of the myriad pros and cons of private equity (PE) investment in emerging economies. The country has experienced two decades of rapid economic growth, driven in large part by substantial foreign direct investment and an appropriate export-oriented focus on comparative advantage in labor-intensive manufacturing. Institutional change has been extraordinary in many respects, including a dramatic reduction in barriers to entrepreneurial entry and a rapid increase in capitalization of the domestic stock market. Vietnam observers also consistently struggle to put their finger on something intangible or cultural: “Scrappy is an understatement for the Vietnamese brand of entrepreneur,” begins one essay on “Vietnam: The Next Frontier” (Fannin, 2011). For these reasons, Vietnam now frequently comes up in discussions of the world’s most promising emerging economies. Making the picture even more compelling, the influential International Finance Corporation argues that the country’s PE market is still underserved.

Keywords: Stock Market; Corporate Governance; Private Equity; Fund Manager; Investee Company (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-30943-3_23

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DOI: 10.1057/9781137309433_23

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