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2016, vol. 18, iss. 1, pp. 33-52
Economic growth constraints in Vietnam: A study using the growth diagnostic approach
Vietnam Institute for Economic and Policy Research, Hanoi, Vietnam
Keywords: Vietnam; economic growth; growth diagnostic; growth policy
Recent studies have clearly pointed out a decreasing trend of Vietnam's economic growth in the short and the medium terms. This paper presents a study applying the growth diagnostic method for Vietnam to determine growth constrains. The binding growth constrains of Vietnam are found to include a poor business environment; an underdeveloped infrastructure, especially the transportation network market; failures related to information externalities, learning externalities and coordination failures. Notably, the energy infrastructure could be a vital constraint in a near future, but is not a binding constraint at present. The inefficiency of financial intermediaries and the government's over-investment could become a binding constraint when the economy returns to its high growth path.
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article language: English
document type: Review Paper
DOI: 10.5937/ekonhor1601033T
published in SCIndeks: 06/05/2016