| Publication |
2009.
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| Summary/Abstract |
The global recession has had its effect on Vietnam because it came at a time when the country was going through an internal cyclic crisis and reeling from the consequences of errors the country's government had made in its economic policy. The program developed to find a way out of the crisis stimulates consumer and investment demand, and contains monetary and budgetary financial measures. The demand stimulation plan is based on the effective demand theory and calculation of the maximum multiplier effect. These measures help ease stagnation, but may increase systemic risks in the local economy. On the upside, Vietnam's efforts to ride out the crisis reveal a great potential of the egalitarian form of capitalism in countries still in transition.
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