Vietnam: The Next Asian Tiger?
Tom Barker and Murat Üngör
The rise of emerging market economies has interested economists and political scientists in recent years. In particular, a surge of research on China has provided new theoretical and empirical insight, turning the development experiences of emerging giants into a vibrant area of enquiry. Vietnam’s success and economic development merits a careful systematic look. This paper investigates the convergence experience of Vietnam to date. Following this, a critical approach is adopted to ascertain whether Vietnam can emulate the success of its predecessors, in its journey to becoming an economic powerhouse, not only in Asia, but also on the global stage.read more
Trade-Driven Sectoral Upgrading and the Global Imbalances
Haiping Zhang, the University of Auckland
The recent wave of globalization has two distinct features. First, emerging Asian economies, especially China, have witnessed large current account surplus, while advanced economies, notably the United States, have incurred persistent current account deficits in the past two decades, a phenomenon commonly known as the global imbalances. Second, the declining costs of transportation, communication, and coordination have facilitated the expansion of global production networks and supply-chain trade between advanced and emerging economies.read more