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About this product
Product Identifiers
PublisherSpringer
ISBN-100792383842
ISBN-139780792383840
eBay Product ID (ePID)301614
Product Key Features
Number of PagesIX, 223 Pages
Publication NameInstitutions in Transition : Vietnamese State Bank Reform
LanguageEnglish
SubjectBanks & Banking, Finance / General, Banking, Development / Economic Development, International / General
Publication Year1998
TypeTextbook
AuthorLisa Román
Subject AreaLaw, Business & Economics
FormatHardcover
Dimensions
Item Weight52.6 Oz
Item Length9.6 in
Item Width6.7 in
Additional Product Features
Intended AudienceScholarly & Professional
LCCN98-033293
Dewey Edition21
Number of Volumes1 vol.
IllustratedYes
Dewey Decimal332.1/09597
Table Of ContentI Introduction.- 1. A STUDY OF THE VIETNAMESE BANKING SYSTEM.- 2. THE EMPIRICAL STUDY.- 3. RECENT DEVELOPMENTS.- 4. THE STRUCTURE OF THE STUDY.- II Banks and Transition A Theoretical Framework.- 1. THE INSTITUTIONAL PERSPECTIVE.- 2. BANKING THEORIES.- 3. THE PROBLEM OF CENTRAL PLANNING.- 4. THE REFORM PROCESS.- 5. REFORM OF THE FINANCIAL SYSTEM.- 6. APPROACHES TO THE TRANSITION PROBLEM.- III Vietnam: History and Economy.- 1. A brief history of Vietnam.- 2. SOCIALIST VIETNAM.- 3. DOI MOI -- ECONOMIC REFORMS AFTER 1986.- IV Banking in Vietnam.- 1. FINANCE AND DEVELOPMENT IN VIETNAM.- 2. THE NEW LEGISLATION AND THE EMERGING STRUCTURE.- 3. THE AGENTS' VIEW.- V Intermediation and Performance.- 1. RESOURCE MOBILIZATION AND CREDIT ALLOCATION.- 2. INTEREST RATES.- 3. THE PAYMENT SYSTEM.- 4. DEBT AND REPAYMENTS.- 5. PROFITABILITY AND COMPETITION.- VI The Institutional Environment.- 1. ORGANISATION AND BANKING SKILLS.- 2. RULES AND REGULATION.- 3. THE BANK AUTHORITIES.- VII Concluding Discussion.- 1. COORDINATION AND MOTIVATION.- 2. INCOMPLETE DECENTRALIZATION AND UNCLEAR RULES.- References.
SynopsisThe ongoing transformation of centrally planned societies into market economies poses many difficult questions regarding large-scale institutional reform - How far to go, how fast, and in which order? Financial intermediation is one sector in which the gap between socialism and capitalism is particularly large, and the development of commercial banking has often proved to be a bottleneck in the reform process. Institutions in Transition explores the development of the Vietnamese state banks, focusing on the situation in the early 1990s. It highlights the lengthy process of altering the formal and informal rules governing the bank organizations. The prevailing socialist ideology implies that state ownership remains, enabling the government to intervene in banks' operations. The ideology's informal role is arguably even more important, because it leaves unclear how bankers should act when profit maximization conflicts with social responsibility. In the period of transition formal and informal rules are unclear. Uncertainty prevails as long as bankers and banking authorities have only partially converted to a new set of norms. Accordingly, the formal financial sector fails to flourish., "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., "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.
LC Classification NumberHF1351-1647
