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

Christine Ngo, Vlad Tarko

Research output: Contribution to journalArticlepeer-review

15 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)481-499
Number of pages19
JournalCanadian Journal of Development Studies
Volume39
Issue number4
DOIs
StatePublished - Oct 2 2018
Externally publishedYes

Keywords

  • crony capitalism
  • industrial development
  • Rent seeking
  • state capitalism
  • Vietnam

ASJC Scopus subject areas

  • Development

Fingerprint

Dive into the research topics of 'Economic development in a rent-seeking society: socialism, state capitalism and crony capitalism in Vietnam'. Together they form a unique fingerprint.

Cite this