ABSTRACT
A significant observation of this book is the analytical view that rents can be developmental and growth enhancing if the configuration of rent management incentivizes industrial upgrade and conditions firm performance. Despite a high and sustained growth rate, Vietnam’s growth and development was not linear; much of it took place during a period of pervasive rent seeking and ad hoc rent policies. Nonetheless, learning and technological upgrading took place, although with great inconsistency across sectors and firms. This final chapter summarizes the research findings by identifying factors affecting rent management in Vietnam and locating the eight case studies among three possible rent-management mechanisms: (1) growth enhancing, (2) growth reducing, and (3) developmental, alongside institutional failures. The chapter observes key characteristics of Vietnam’s industrial development and offers a set of policy solutions for Vietnam as it moves to the next stage of development. More importantly, for all its successes and failures over the last three decades, Vietnam offers five constructive lessons to other developing nations in ways that challenge neoclassical economics and its accompanying policy suggestions. This chapter discusses them in depth.
