Economic development in a rent-seeking society: socialism, state capitalism and crony capitalism in Vietnam
Canadian Journal of Development Studies
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.
Ngo, Christine and Tarko, Vlad. "Economic development in a rent-seeking society: socialism, state capitalism and crony capitalism in Vietnam." Canadian Journal of Development Studies (2018) : 481-499.