Abstract
Since the ‘Doi Moi’ reforms of 1986 which steered a path to a market-oriented economy, Vietnam has achieved considerable economic growth and improved standards of living. In 2013, GDP per capita reached USD 1,911, a 2.7 times increase over 2005 (USD 699) and over 19 times more than 1988 (USD 98). According to World Bank data, Vietnam’s total GDP in 2013 was 56th in the world and 6th among the Association of Southeast Asian Nations (ASEAN) countries. Since 2010, Vietnam has shifted from a low-income country towards the group of lower middle-income countries. From 1991 onwards, the country showed average five-yearly GDP growth rates of over 5.5 per cent per annum. In 2011–13, in spite of the slump of the world economy, GDP per capita growth averaged 4.5 per cent (Statistical Appendix, Table A.2).
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© 2015 Dang Quang Dieu and Hien Thi Thuong Dong
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Dieu, D.Q., Dong, H.T.T. (2015). Vietnam. In: van Klaveren, M., Gregory, D., Schulten, T. (eds) Minimum Wages, Collective Bargaining and Economic Development in Asia and Europe. Palgrave Macmillan, London. https://doi.org/10.1057/9781137512420_3
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DOI: https://doi.org/10.1057/9781137512420_3
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