By May financial information from leading corporations in stock markets has unveiled a brighter picture for the economy amid the financial carnage starting from 2007. By the end of 2008, inflation was 19.9 percent instead of previously forecast 25 - 30 percent. Concerns over skyrocketing prices were then taken place by those on a possible economic stagnation.
The nation's 6.18 percent growth rate is still considered impressive facing the lackluster business environment worldwide. Yet, by now people hardly ever dreamt about the day when milliard of problems will have become things of the past. The U.S. financial crisis since December 2008 has put an end to lives of 25 commercial banks within just one year from October 2007. Storms and thunders have widespread all over the globe, to Western and Eastern Europe, South America and Asia. It is likely that no corner of the planet is able to immune from this contagious disease.
Besides difficulties burdening lives of billions of people in the world, economic theories and both macro and micro-implementation have been seriously challenged. Validity of theoretic doctrines which have been built and accepted for decades, especially after the Great Depression, has been eroded, because of problems never experienced before.
One may, therefore, raise a question, where will the development after 20 years of reforms be in Vietnam's and the modern world's history? Right in this time perhaps many who truely care about the national economy have seen and are seeing the rises and falls, shifts and lessons to be drawn of the nation throughout history. This is important for not only history understanding but also future solutions if similar situations are faced .
The book 'Vietnam's economy: Rises, Falls and Shifts' has been diligently written for Vietnam because of Vietnam.
It contains 13 chapters which are divided into three basic parts. Part I talks about economic processes and changes with both positive and negative aspects in a chronological order. Part II describes shifts in the economy as a result of both objective initiatives and subjective circumstances. Part III discusses macro and mircoeconomic issues which happen again and again under different patterns and proposes possible solutions.
It should be noted that the book focuses on market systems and monetary instruments. Simply because: monetary and financial instruments today have become major weapons used by institutions and governments to prevent economic turbulences, especially in such a market economy with the government's intervention as Vietnam.
The book contains 13 chapters
Chapter 1: Turbulence
Section I: RISES AND FALLS
Chapter 2: First shoots
Chapter 3: Monetary independence: 1945-1954
Chapter 4: Currency independence: 1955-1985
Chapter 5: Financial economy in Reform period: 1986-2000
Chapter 6: Salient features of the economic changes in transition
Section II: SHIFTS
Chapter 7: Innovative economic thinking: Reform
Chapter 8: Two-layer banking system
Chapter 9: Assets and markets
Chapter 10: Stock markets
Section III: PROBLEMS AND PHENOMENON
Chapter 11: Some issues of properties markets
Chapter 12: State management on markets and assets
Chapter 13: Integration into global economy
Subject of the 538-page book is Vietnamese economy with a focus on financial-credit-currency system. Readers can find some analyses repeated in the book as it is necessary to do so. Also, the book has been worked on with highest responsibility during a long time, but some mistakes might be unpreventable. Authors would like to thank The National Political Publishing House for the publication and introduction of our book to readers nationwide.
Our sincere thanks to readers and looking forward to hearing your recommendations for a better revision and update later on.
Readers can order the book at:
6/80 Lê Trọng Tấn, Q. Thanh Xuân, Hà Nội
Contact: Trần Trí Dũng (0913083663) or Nguyễn Khánh Ly (0975159186)
Dan Houtte, Vuong & Partners
E-mail: info@empirics.net
(*) Vuong Quan Hoang, Ph.D is co-founder of DHVP and economist at University of Brussels's Centre Emile Bernheim.
