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Vietnam and the East Asian Crisis (Hardcover)
Loot Price: R3,185
Discovery Miles 31 850
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Vietnam and the East Asian Crisis (Hardcover)
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The timeliness of this book is beyond question. Since the crisis
erupted in Thailand in mid-1997 and spread, with varying degrees of
severity, to the rest of Asia, the export-led industrialization
strategy that has driven economic growth in East and Southeast Asia
over the last 50 years has come into question. Is this model still
applicable to latecomers such as Vietnam? The Asian financial
crisis has highlighted the dangers of implementing export-oriented
industrialization through government subsidies and protection. This
book finds that the strategy followed by the Asian economies in the
last half-decade remains a valid model for Vietnam. In order to
avoid grave damage to its financial institutions, the strategy
needs to be implemented in conjunction with the development of a
sound financial system and a robust private sector. Based on a
detailed analysis of the causes and nature of the Asian financial
crisis as well as the Vietnamese economy, this book concludes that
it is unlikely that Vietnam will face a banking and currency crisis
in the short term, but Vietnam could be plagued by balance of
payments difficulties for some time to come unless major structural
reforms are undertaken soon. This timely book will be of great use
to Asian studies scholars and those interested in the role of the
financial sector in economic management and development.
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