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The Entrepreneurial Facets as Precursor to Vietnam’s Economic Renovation in 1986

Author

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  • Quan-Hoang Vuong
  • Van Nhue Dam
  • Daniel van Houtte
  • Tri Dung Tran

Abstract

In this research, we aim to develop a conceptual framework to assess the entrepreneurial properties of the Vietnamese reform, known as Doi Moi, even before the kickoff of Doi Moi policy itself. We argued that unlike many other scholars’ assertion, economic crisis and harsh realities were neither necessary nor sufficient conditions for the reform to take place, but the entrepreurial elements and undertaking were, at least for case of Vietnam’s reform. Entrepreneurial process on the one hand sought for structural changes, kicked off innovation, and on the other its induced outcome further invited changes and associated opportunities. The paper also concludes that an assessment of possibility for the next stage of Doi Moi in should take into account the entrepreneurial factors of the economy, and by predicting the emergence of new entrepreneurial facets in the next phase of economic development.

Suggested Citation

  • Quan-Hoang Vuong & Van Nhue Dam & Daniel van Houtte & Tri Dung Tran, 2011. "The Entrepreneurial Facets as Precursor to Vietnam’s Economic Renovation in 1986," Working Papers CEB 11-010, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:sol:wpaper:2013/79701
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    References listed on IDEAS

    as
    1. Quan-Hoang Vuong & Tran Tri Dung, 2009. "The Cultural Dimensions of the Vietnamese Private Entrepreneurship," Working Papers CEB 09-027.RS, ULB -- Universite Libre de Bruxelles.
    2. Benjamin, Roger W. & Kautsky, John H., 1968. "Communism and Economic Development," American Political Science Review, Cambridge University Press, vol. 62(1), pages 110-123, March.
    3. John McMillan & Christopher Woodruff, 2002. "The Central Role of Entrepreneurs in Transition Economies," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 153-170, Summer.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic Reform; Transition Economies; Vietnam’s Doi Moi; Entrepreneurship; Economic Crisis; Government Policy; Communist Countries;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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