ABSTRACT
Since the late 1980s, most formerly centrally planned economies have undertaken market-based economic reforms. Similar to the experiences of the former Soviet Union, Eastern Europe and China, the case of Vietnam has received wide coverage (see, for example, Beresford and Dang 2000; Griffin 1998; Harvie and Tran Van 1997; Fforde and de Vylder 1996 and IMF 1996). Vietnam had begun some macroeconomic reforms in 1985 after the sixth party congress, especially with price liberalization in the agricultural sector. However, this move was followed by a long period of policy slippage and macroeconomic deterioration until 1989-90, when more serious reforms were resumed.
