Vietnam and the Experience of the Asian Crisis

This chapter analyses the Vietnamese performance during and after the East Asian economic crisis 1997/98. Due to its relative insulation from speculative finance and thanks to counter-cyclical policies the country remained relatively resilient. IN the period immediately following the regional crisis the Vietnamese economy resumed fast economic growth - contrary to the predictions of neoliberal scholars - arguably because it continued to follow a gradualist and pragmatic reform approach rather than introducing the policy measures promoted by the World Bank and the IMF