Economic reform and performance: A comparative study of China and Vietnam

China: An International Journal

Volumn 7, Issue 2, 2009, Pages 189-226

  Vu, Khuong M ^a  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 77951162909     PISSN: 02197472     EISSN: None     Source Type: Journal    
DOI: 10.1142/S0219747209000338     Document Type: Article

References (57)

1. World Bank, "The East Asian Miracle: Economic Growth and Public Policy", A Policy Research Report (New York: Oxford University Press, Washington, DC, 1993).
2. According to World Bank over the period 1960-1985, the Four Asian Tigers significantly outperformed the NIEs' average GDP and TFP growth.
3. See "World Bank The East Asian Miracle: Economic Growth and Public Policy", pp. 2961.
4. GDP in 2000 relative to 1996 was 125 per cent for Taiwan and 116 per cent for Korea, but only 97 per cent for Thailand and 96 per cent for Indonesia. See Asian Development Bank Key Indicators 2001", (ADB, 2001).
5. The 5-year forward moving average (FMA) growth rate is used to smooth out short-term fluctuations and capture the growth trend.
6. Regarding Vietnam's rapid economic growth, see Van Arcadias, Brian and Raymond Mallon, Vietnam: A Transition Tiger? (Canberra: Asia Pacific Press, 2003), p. 8.
7. They Computed from the Penn World Table (PWT) dataset for the period 1952-1978.
8. China's Crisis (New York: Columbia University Press, 1990), p. 200.
9. General Statistics Office, Statistical Yearbook 1996 (Hanoi: Statistical Publishing House, (1997)
10. All the data used in this paper, unless otherwise specified, are from the World Bank Development Indicators (WDI) online dataset.
11. General Statistics Office, Statistical Yearbook 1996
12. See IMF World Economic Outlook Database [15 Oct. 2008].
13. Adam Fforde and Stefan De Vylder, From Plan to Market: The Economic Transition in Vietnam (Boulder: Westview Press, 1996), p. 304.
14. Measured in constant 2000 US$. Export-oriented, labour-intensive manufacturing in China developed largely independently of the industrial base laid down in the earlier period. This implies that the initial industrial base is not a precondition for successful export-oriented industrialisation.
15. See J. Riedel, "Vietnam: On the Trail of the Tigers", World Economy 16, no.4 (1993): 401-422
16. For comparison, the figure was 8.2 for the Philippines in 1978.
17. This definition is inspired by Hausmann, Pritchett and Rodrik.
18. See, Ricardo Hausman, Lant Pritchett and Dani Rodrik "Growth Accelerations", Journal of Economic Growth 10 (2005): 303-329
19. The data in WDI for Vietnam is missing from 2001 onwards
20. The data are available only for the periods reported in Table 7.
21. Robert J. Barro, "Economic Growth in a Cross Section of Countries", The Quarterly Journal of Economics 106, no.22 (1991): 407-443
22. Barro, "Economic Growth in a Cross Section of Countries";
23. R. Barro and Sala-i-Martin, Economic Growth (McGraw-Hill: New York, 1995).
24. Barro, "Economic Growth in a Cross Section of Countries";
25. Robert J. Barro, Determinants of Economic Growth: A Cross-Country Empirical Study (Cambridge, MA: MIT Press, 1997).
26. Barro, "Economic Growth in a Cross Section of Countries";
27. Dani Rodrik, Arvind Subramanian and Trebbi Francesco, "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development", Journal of Economic Growth 9, no.2 (2004): 131-165 (Pubitemid 38783555)
28. Stijn Claessens and Luc Laeven, "Financial Development, Property Rights, and Growth", The Journal of Finance 58, no.6 (2003): 2401-2436 (Pubitemid 37488592)
29. Paolo Mauro, "Corruption and Growth", The Quarterly Journal of Economics 110, no.3 (1995): 681-712.
30. John Luke Gallup, Jeffrey Sachs and Andrew Mellinger, "Geography and Economic Development", NBER Working Paper No. W6849 (1998).
31. Hausman, Pritchett and Rodrik "Growth Accelerations", pp. 303-329
32. See World Bank Development Indicators Database [15 Oct. 2008].
33. Brantly Womack, China and Vietnam: The Politics of Asymmetry (Cambridge: Cambridge University Press, 2006).
34. This dataset covers 212 countries and six dimensions of governance: (i) Voice and Accountability; (ii) Political Stability; (iii) Government Effectiveness; (iv) Regulatory Quality; (v) Rule of Law and (vi) Control of Corruption. Each index ranges from-2.5 to +2.5 (higher is better). The data for 1996-2006 is available at [10 Oct. 2008].
35. See Daniel Kaufmann, Aart Kraay and Massimo Mastruzzi, "Governance Matters VI: Governance Indicators for 1996-2006", World Bank Policy Research Working Paper No.4280 (2007).
36. The data for these indicators is available for only the 1996-2006 period.
37. Kaufmann et al., "Governance Matters VI: Governance Indicators for 1996-2006
38. Kaufmann et al., "Governance Matters VI: Governance Indicators for 1996-2006 Ibid.
39. Barro, Determinants of Economic Growth: A Cross-Country Empirical Study.
40. Kaufmann et al., "Governance Matters VI: Governance Indicators for 1996-2006
41. Kaufmann et al., "Governance Matters VI: Governance Indicators for 1996-2006 Ibid.
42. Suisheng Zhao, "Deng Xiaoping's Southern Tour: Elite Politics in Post-Tiananmen China", Asian Survey 33, no.8 (1993): 745.
43. John Wong, "The Economics of the Nanxun", Chapter 3 in The Nanxun Legacy and China's Development in the Post-Deng era, John Wong and Zheng Yongnian, eds (Singapore: Singapore University Press, 2001), p. 43
44. Ibid, p. 44.
45. Thomas Crampton, "Politburo Is Hesitating on Pact, Official Says: U.S. Aide Is Pessimistic On Hanoi Trade Accord".
46. See Herald Tribune at [11 Sept. 1999].
47. Dwight Perkins, "Industrial and Financial Policy in China and Vietnam", in Rethinking the East Asian Miracle (World Bank Publication): Joseph E. Stiglitz and Shahid Yusuf,eds (World Bank and Oxford University Press, 2001).
48. World Bank notes that "[Vietnam has a] reputation for slow decision making and inefficient transparency".
49. See World Bank, "Vietnam\Implementing Reforms for Growth and Poverty Reduction", Country Development Report (2002): 6
50. Perkins "Industrial and Financial Policy in China and Vietnam".
51. Zhao "Deng Xiaoping's Southern Tour: Elite Politics in Post-Tiananmen China", p. 269.
52. Zhao "Deng Xiaoping's Southern Tour: Elite Politics in Post-Tiananmen China", Ibid., p. 272.
53. "Vietnam Aid Loans Suspended", Strait Times at [4 Dec. 2008].
54. Jeffrey Sachs and Andrew Warner, "Economic Reform and the Process of Global Integration", Brookings Papers on Economic Activity 26, no.1 (Economic Studies Program, The Brookings Institution, 1995): 1-118.
55. In 2000, the merchandise trade to GDP ratio was 87.9 per cent for Vietnam and 44.6 percent for China, while the average tariffs were 15 per cent and 20 per cent, respectively.
56. The data is available only for the 2000-2005 period.
57. Asian Development Bank, "Key Indicators 2007" (ADB, 2007).