RAPID AND SUSTAINABLE GROWTH IN VIETNAM: LESSONS FROM THE "MIRACLE" EAST ASIA

Over the last decades, economists have argued about the economic growth of East Asian countries such as Japan, South Korea, Hong Kong (China), and Taipei (China) and Singapore. Although economists agree that these countries have achieved impressive growth, they offer conflicting interpretations in relation to the origins of such growth. The main purpose of this paper is to synthesize and systematize studies and assessments of economists to draw lessons for rapid and sustainable growth in Vietnam. Notably, it is suggested that due to market imperfections, the government should apply incentives policies to encourage areas such as infrastructure, human capital, finance, and technology.