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The Role of the State in Economic Change$
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Ha-Joon Chang and Robert Rowthorn

Print publication date: 1995

Print ISBN-13: 9780198289845

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289845.001.0001

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The State and Economic Reform in Vietnam and the Lao PDR  

The State and Economic Reform in Vietnam and the Lao PDR  

(p.262) 11 The State and Economic Reform in Vietnam and the Lao PDR 
The Role of the State in Economic Change

Brian van Arkadie

Oxford University Press

This chapter deals with the reforms and transitional period undergone by Vietnam and Laos and compares it to the transition and reforms made in their Eastern European counterparts. As part of their transformation, the governments of these two states implemented price reform and emerging market systems wherein the prices of the products sold were not controlled by the government but determined by the dictate of the market. While instituting reforms, the governments of Vietnam and Laos still keep agriculture as part of their main industry. Reforms in foreign trades are also put in place by Vietnamese and Lao governments. They are also looking towards the financial and monetary industry in order to attract more investment in their countries. They have become investment-oriented countries from once closed economies. Commercial banks are also being developed.

Keywords:   Vietnam, Laos, economic reform, emerging market, agriculture, investment-oriented

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