Formal and Informal Rural Credit in Four Provinces of Vietnam
In: Journal of Development Studies 44(4):485-503. DOI: 10.1080/00220380801980798 (2008)
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In: Journal of Development Studies 44(4):485-503. DOI: 10.1080/00220380801980798 (2008)
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In: UNU-WIDER Working Paper No. 01/2014; 2014/030(030)
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Working paper
In: Land Tenure Reforms in Asia and Africa: Assessing Impacts on Poverty and Natural Resource Management, Chapter: Access to Land: Market and Non-market Land Transactions in Rural Vietnam (ch.7), Publisher: Palgrave Macmillan:, Editors: Stein Holden, Keijiro Otsuka, Klaus Deininger, pp.162-186, 2013
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In: UNU-WIDER working paper 04/2013; 2013/045.
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In: Journal of Development Studies 49(4). DOI: 10.1080/00220388.2012.709621
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In: Economic Development and Cultural Change, Volume 60, Issue 3, p. 571-595
ISSN: 1539-2988
In: UNU-WIDER Working Paper 08/2012; 2012/72(WP/072)
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Working paper
Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises - the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global trade. Its success contradicts its characterization as an example of export-led growth and highlights the role of the state, particularly in maintaining and influencing investment. Examination of economic performance and policy responses shows rising dependence on foreign finance around each crisis, and actions by the government to counteract that dependence and bolster the domestic economy while continuing to restructure the economy toward greater emphasis on the private sector. Growth, employment and poverty alleviation have been maintained at the expense of renewed inflation, larger budget deficits, and currency depreciation. The stop-go nature of present macroeconomic policy is the consequence of balancing growth versus inflation, responding to severe external shocks and holding to a growth objective in the face of substantial internal and external criticism.
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This paper uses household panel data from rural Vietnam to explore the effects of having a relative in a position of political or bureaucratic power on farmers' agricultural investment decisions. Our main result is that households significantly increase their investment in land improvement as a result of relatives moving into public office. Connections to office holders appear to be important for investment because they strengthen de facto land property rights and improve access to off-farm employment and to informal loans. The findings underline the importance of informal networks for economic behaviour in environments with developing institutions and markets. They also suggest the presence of an untapped potential for economic development: if households without connections could obtain equally strong property rights and access to credit and insurance as the well-connected households, investment levels would rise substantially.
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In: UNU-WIDER working paper 07/2011; 2011/37
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In: UNU-WIDER working paper 04/2011; 2011/22.
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In: UNU-WIDER Working Paper WP/16, 2010/16
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Working paper
In: Economic Development and Cultural Change 2010/16. DOI: 10.1086/664022
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In: UNU-WIDER angle 05/2010
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Working paper
In: Journal of development effectiveness, Volume 1, Issue 2, p. 130-146
ISSN: 1943-9407