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Institutions in Transition : Vietnamese State Bank Reform - Lisa Roman

Institutions in Transition

Vietnamese State Bank Reform

Hardcover Published: 31st December 1998
ISBN: 9780792383840
Number Of Pages: 223

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"If you want to become a doctor, practice in a war; if you want to become an economist, practice in Vietnam". 1 Phan Van Tiem Vietnam is one of many countries presently undergoing fundamental institutional change: the market mechanism is replacing central planning. So far, the achievements are impressive. In the mid-1980s, the country failed to feed its population, suffered from hyperinflation and faced general economic stagnation. In the early 1990s, the annual economic growth rate had accelerated to some eight to nine percent, the inflation rate had fallen to two-digit levels - sometimes even lower - and the country had become one of the world's largest rice exporters. Add some more details - the increased foreign trade, the inflow of foreign investments, the diversification of agriculture, and ~e various reform measures taken to alter the basic economic structure - and the success story of the Vietnamese transition is told. The country has hence followed the same path as its northern neighbor China, and provided a counterexample to much more cumbersome processes that have been adopted in a number of other transforming countries, notably those of the former USSR. This transition is by no means over. Indeed, it is misleading to think of transition as a process that departs from a well-defined pre-condition and moves towards an equally well­ defined end-point.

Introductionp. 1
A Study of the Vietnamese Banking Systemp. 2
The research approachp. 4
Two main themesp. 5
Ambitions of the studyp. 9
Delimitationsp. 10
The Empirical Studyp. 11
The sourcesp. 11
Inverview referencesp. 15
The language problemp. 15
Recent Developmentsp. 16
The Structure of the Studyp. 18
Banks and Transition a Theoretical Frameworkp. 19
The Institutional Perspectivep. 19
Coordinationp. 21
Motivationp. 21
Banking Theoriesp. 23
Why do banks exist?p. 24
Regulating the financial sectorp. 27
The Problem of Central Planningp. 31
The socialist systemp. 32
Socialist financep. 34
Central planning and transaction costsp. 36
The Reform Processp. 44
Socialism and capitalismp. 45
Market socialismp. 47
Comprehensive economic reformp. 49
Reform of the Financial Systemp. 50
Financial reform ingredientsp. 51
Approaches to the Transition Problemp. 55
Explaining the transition problemp. 56
Transaction costs and transitionp. 57
The institutional approach to Vietnamp. 60
Vietnam: History and Economyp. 62
A brief history of Vietnamp. 63
Colonization and warp. 63
The Vietnamese culturep. 64
Finance in colonial and South Vietnamp. 65
Socialist Vietnamp. 67
The new financial systemp. 68
The initial attempts at reformp. 69
Doi Moi - Economic Reforms After 1986p. 71
The 6th Party Congress in 1986p. 72
The 1988-1989 reformsp. 73
The Vietnamese economy after 1989p. 74
The present state of the Vietnamese transitionp. 78
Banking in Vietnamp. 84
Finance and Development in Vietnamp. 84
Capital shortage and savingp. 85
Financial depth and widthp. 89
The market for financial resourcesp. 93
The New Legislation and the Emerging Structurep. 96
Central bankingp. 96
The commercial banksp. 97
Informal financep. 105
The Agents' Viewp. 108
The Sbvp. 109
The state-owned commercial banksp. 110
Share-holding banks and other credit organisationsp. 113
Other observersp. 115
Intermediation and Performancep. 117
Resource Mobilization and Credit Allocationp. 117
Sources of fundsp. 120
Credit allocationp. 128
Concluding remarksp. 134
Interest Ratesp. 135
Deposit ratesp. 138
Credit ratesp. 139
Concluding remarksp. 142
The Payment Systemp. 142
Reasons behind the weak payment systemp. 143
Concluding remarksp. 146
Debt and Repaymentsp. 146
The magnitude of bad debtp. 147
Bad debt and transitionp. 150
Concluding remarksp. 155
Profitability and Competitionp. 156
Bank profitabilityp. 156
Competitionp. 159
Concluding remarksp. 162
The Institutional Environmentp. 164
Organisation and Banking Skillsp. 164
Organisational changep. 165
Tranining and work incentivesp. 169
Understanding the market economyp. 172
Concluding remarksp. 174
Rules and Regulationp. 174
The legal frameworkp. 175
Laws relating to bankingp. 177
Regulation and realityp. 182
Concluding remarksp. 185
The Bank Authoritiesp. 186
The central bankp. 186
The governmentp. 192
Paternalismp. 194
Concluding remarksp. 197
Concluding Discussionp. 199
Coordination and Motivationp. 199
Incomplete Decentralization and Unclear Rulesp. 202
Referencesp. 205
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780792383840
ISBN-10: 0792383842
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 223
Published: 31st December 1998
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 24.4 x 17.0  x 1.91
Weight (kg): 1.49

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