Open and Closed Economies: Lessons from the Philippines and Vietnam

by Roderick Macdonald

Overview

This book compares the experiences of the Philippines and Vietnam to gain insight into how openness to trade and financing can increase prosperity. In contrast, theoretical and empirical work in the 20^th and early 21^st centuries have returned mixed results regarding this assertion. The book also demonstrates the impracticality of any attempt to pursue prosperity in isolation. Chapter 1 discusses recent data and research on international trade and capital mobility. Chapter 2 describes the economy of Vietnam that has grown rapidly since beginning to open in 1994. Chapter 3 relates the stagnation of the Philippines as it remained closed from 1960 to 1994 and examines the recent rapid growth in spite of the continued relative restrictiveness of Philippine policy. Chapter 4 compares the two experiences and then conjectures about the feasibility of a prosperous autarky.

Product Details

ISBN-13:	9783030795344
Publisher:	Palgrave Macmillan
Publication date:	11/23/2021
Sold by:	Barnes & Noble
Format:	eBook
File size:	11 MB
Note:	This product may take a few minutes to download.

About the Author

Roderick Macdonald lectures in international business at the International School of Business of the University of Economics Ho Chi Minh City. He has published Eurocritical (2018), Southeast Asia and the ASEAN Economic Community (2019), and The Economy and Business Environment of Vietnam (2020) with Palgrave Macmillan since retiring from ESG-UQAM, Canada.

Table of Contents

Introduction.- The Economy of Vietnam (with Trung Quang Nguyen).- The Economy of the Philippines (with Teresa Rivera).- Conclusion: Isolationism or Open Borders?.