Hansjörg Herr, Erwin Schweisshelm, Truong-Minh Vu

Vietnam in the global economy: development through integration or middle-income trap?

Economic growth in Vietnam has been remarkable since the beginning of the comprehensive reform process in 1986. Yet, the question remains whether this spectacular development will be able to continue.

A number of experts warn that Vietnam is in danger of falling into the middle-income trap or may already be affected by it.

The aim of this publication is to analyse the specific way in which Vietnam has been integrating into the global economy and what kind of production structure has been created as a result.

A main conclusion arises that theoretical considerations and empirical analyses support a hypothesis by which an unregulated integration in the world market is not beneficial for Vietnam in the long run and could furthermore lead to Vietnam becoming stuck in the middle-income trap.

Herr, Hansjörg; Schweisshelm, Erwin; Truong, Minh Huy Vu

Vietnam in the global economy

development through integration or middle-income trap?
Hanoi, 2016

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