Title

Economic development in a rent-seeking society: socialism, state capitalism and crony capitalism in Vietnam

Publication Date

Winter 2018

Journal

Canadian Journal of Development Studies

Volume

39

Issue

4

First Page

481

Last Page

499

Department

Economics

Abstract

This article explains Vietnam’s economic growth and industrial development despite the strong rent-seeking features of its economy. We employed three analytical rent-seeking models to assess three industries: textile-garment and telecommunications, both under a state capitalist system with varying degrees of state control, and the motorcycle industry developed in a crony capitalist manner. Our cross-industry analyses demonstrate how a developing country such as Vietnam overcomes pervasive rent seeking to achieve growth outcomes. Under conditions of controlled economic reform, the Vietnamese government managed rent seeking using various measures of state intervention coupled with gradual market openness in the industrial sectors.

DOI

10.1080/02255189.2018.1467831

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