Martin Rama
Last night we went to the World Bank to hear the lead economist Dr Martin Rama give a talk about the Vietnam Development Report for 2006.
The three pillars of the report have been conducted over the past three years, first addressing a social concern - poverty, then an institutional area - governance, and finally the presentation last night addressed the structural area - business.
Massive household surveys have been completed to try to piece together what is happening in the informal urban economy and how to facilitate movement towards a more formal economy. This will require a more transparent banking system and access to finance.
It has been clear to me since I've been here that most business is conducted using a co-operative game strategy and the legal framework we use does not exist here.
The World Bank reports that most enterprise operates outside the legal system, and that incidence of reported crime is also very low.
However, corruption is rife in the policeforce, customs and land administration.
Dr Rama also stated that the banks do not have the skills to assess credit and there is absolutely no sophistication in financial products.
The survey concluded that Vietnam is no longer a 'poor' country, having made massive improvements since the economic reforms of the late 1980's.
The main reforms now required as a result of his findings were to move Vietnam to middle income status by reducing corruption, increasing healthcare, increasing access to finance and formalisation of legal title to land.
The three pillars of the report have been conducted over the past three years, first addressing a social concern - poverty, then an institutional area - governance, and finally the presentation last night addressed the structural area - business.
Massive household surveys have been completed to try to piece together what is happening in the informal urban economy and how to facilitate movement towards a more formal economy. This will require a more transparent banking system and access to finance.
It has been clear to me since I've been here that most business is conducted using a co-operative game strategy and the legal framework we use does not exist here.
The World Bank reports that most enterprise operates outside the legal system, and that incidence of reported crime is also very low.
However, corruption is rife in the policeforce, customs and land administration.
Dr Rama also stated that the banks do not have the skills to assess credit and there is absolutely no sophistication in financial products.
The survey concluded that Vietnam is no longer a 'poor' country, having made massive improvements since the economic reforms of the late 1980's.
The main reforms now required as a result of his findings were to move Vietnam to middle income status by reducing corruption, increasing healthcare, increasing access to finance and formalisation of legal title to land.
posted by Megan at 12:07 pm
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