Viet Nam: Reform and Stabilization, 1986-1992

May 1, 1993

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Erich Spitäller, and Gabrielle Lipworth. Viet Nam: Reform and Stabilization, 1986-1992, (USA: International Monetary Fund, 1993) accessed December 12, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Viet Nam has made substantial progress in the transition to a market economy and toward financial stability since economic reform began in 1986. Piecemeal measures were adopted at first, followed by the launching of a bold and comprehensive program of structural reform in March 1989. Complemented by policies designed to achieve financial stabilization, the program met early success. Its continuation, however, was put at risk by the withdrawal of external financing by the former Soviet Union and the breakdown of preferential arrangements with the CMEA area. Although economic performance weakened temporarily in the wake of these shocks, the Vietnamese intensified the adjustment process. Viet Nam has since resumed its progress toward financial stability and sustained growth.

Subject: Banking, Commercial banks, Economic sectors, Exchange rates, Financial institutions, Foreign exchange, Public enterprises, Public sector

Keywords: Commercial banks, Eastern Europe, Economic system, Enterprise reform, Exchange rates, Imputed interest, Market economy, Public enterprises, Public sector, State enterprise sector, U.S. dollar, WP

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1993/046
Stock No:

WPIEA0461993
ISBN:

9781451973808
ISSN:

1018-5941

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