The Challenges Posed by Globalization for Economic Liberalization in Two Asian Transitional Countries: Laos and Vietnam

Nick J. Freeman

No DP2001-40, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper examines the impact of globalization on two transitional economies in Asia. Both countries have undergone a radical economic reform process over the past decade, assisted by increases in external trade flows, foreign investment activity, and external assistance. However, the pace of economic reform has decelerated since the perceived perils of globalization—as evidenced by the Asian Crisis—have become more apparent to the leaderships of these two avowedly socialist states.

Keywords: Economic development; Financial crisis; Globalization; Foreign investments; Macroeconomics (search for similar items in EconPapers)
Date: 2001
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