1. Poverty Reduction Support Credits : Vietnam Country Study
- Author
-
Grawe, Roger
- Subjects
BUDGET DEFICITS ,STATE BANK ,PRIVATE INVESTMENT ,RURAL DEVELOPMENT ,INFLATIONARY PRESSURES ,NATIONAL OWNERSHIP ,SECTOR PROGRAMS ,INFLATION ,INSTITUTIONAL DEVELOPMENT ,BUDGET PREPARATION ,EMPLOYMENT ,RURAL WATER SUPPLY ,INCOME ,EXPORT GROWTH ,GOVERNMENT POLICY ,PUBLIC FINANCES ,RECURRENT EXPENDITURE ,SOCIAL INDICATORS ,MORAL HAZARD ,IMPROVING BUDGET EXECUTION ,CIVIL SOCIETY ORGANIZATION ,REFORM AGENDA ,TRANSPARENCY ,REFORM PROCESS ,NPL ,BUDGET CYCLE ,FISCAL IMPLICATIONS ,EXPENDITURE PLANNING ,BUDGET ALLOCATIONS ,MEDIUM-TERM GOALS ,SECTOR POLICY ,POVERTY REDUCTION STRATEGIES ,TREASURY SYSTEM ,INFRASTRUCTURE SERVICES ,COUNTRY PROCUREMENT ASSESSMENT ,ECONOMIC INSTABILITY ,INFORMATION SYSTEM ,SWAP ,HOUSEHOLD LIVING STANDARDS ,PUBLIC EXPENDITURE REVIEW ,REFORM PROGRAM ,POVERTY REDUCTION ,ARREARS ,FINANCIAL ACCOUNTABILITY ,CONTINGENT LIABILITIES ,OUTSIDE OBSERVERS ,MINISTER ,MEDIUM-TERM EXPENDITURE ,CAPITAL EXPENDITURES ,DATA REQUIREMENTS ,TARGETING ,MANAGEMENT INFORMATION SYSTEMS ,DISBURSEMENTS ,MINISTRY OF FINANCE ,AUDITS ,BLOCK GRANTS ,CHART OF ACCOUNTS ,POVERTY REDUCTION STRATEGY ,ADJUSTMENT LENDING ,MACROECONOMIC STABILITY ,BUDGET CONSTRAINT ,REFORM ACTIONS ,HUMAN DEVELOPMENT ,RESOURCE FLOWS ,HEALTH POLICY ,ACCESS TO INFORMATION ,LOCAL GOVERNMENT ,BUDGET OUTCOMES ,DELEGATION OF AUTHORITY ,FINANCIAL CRISES ,INTERNATIONAL RESERVES ,REGULATORY FRAMEWORK ,FISCAL POLICY ,FINANCE MINISTRY ,EXCHANGE RATE ,HEALTH CARE ,MEDIUM-TERM EXPENDITURE FRAMEWORK ,NATURAL DISASTERS ,CONFIDENCE ,INITIATIVE ,COUNTRY PROCUREMENT ,LOAN ,PUBLIC FINANCE ,DIAGNOSTIC WORK ,INVESTMENT CORPORATION ,COLLAPSE ,DEVELOPMENT BANK ,BUDGET PROCESS ,MINISTERIAL COORDINATION ,CORRUPTION ,FIDUCIARY ASSESSMENT ,RURAL ,BUDGETING ,PUBLIC INVESTMENT PROGRAM ,CAPITAL FORMATION ,PUBLIC INVESTMENT ,POVERTY REDUCTION SUPPORT ,PUBLIC EXPENDITURE ,LEADERSHIP ,MARKET ECONOMY ,ACCOUNTABILITY ,BANK POLICY ,PROVINCIAL LEVELS ,TAX ,ECONOMIC GROWTH ,GROSS DOMESTIC PRODUCT ,BANKING SUPERVISION ,PRIVATE SECTOR INVESTMENT ,TRUST FUND ,PROGRAMS ,TECHNICAL ASSISTANCE ,FINANCIAL SECTOR ,BANKING REFORM ,GENERAL BUDGET SUPPORT ,POOR ,CIVIL SOCIETY ,INSTRUMENT ,MANDATES ,POLITICAL CONSTRAINTS ,DOMESTIC CAPITAL ,BETTER ACCESS TO INFORMATION ,OUTCOME INDICATORS ,FINANCIAL CRISIS ,AUDITING ,AID EFFECTIVENESS ,HEALTH OUTCOMES ,PUBLIC SECTOR MANAGEMENT ,BUDGET RESOURCES ,POLICY DECISIONS ,SOLICITATION ,POVERTY REDUCING ,SUSTAINABILITY ANALYSIS ,GROSS NATIONAL PRODUCT ,MEDIUM-TERM PERSPECTIVE ,DEGREE OF VARIATION ,IMPORT DUTIES ,CAPITAL INVESTMENT ,FINANCIAL MANAGEMENT COMPONENTS ,FOREIGN DIRECT INVESTMENT ,STATE TREASURY ,BORROWER ,HEALTH MINISTRY ,MULTIYEAR PERIOD ,TRANCHE ,BUDGET MANAGEMENT ,SANITATION ,ANNUAL CYCLE ,PUBLIC SECTOR ,DEBT ,BANKING SECTOR ,DEBT REDUCTION ,INEQUALITY ,POVERTY REDUCTION STRATEGY PAPER ,ECONOMIC DEVELOPMENT ,BUDGETARY REFORMS ,AGRICULTURAL DEVELOPMENT ,GOVERNMENT REFORM ,BUDGET PLAN ,INVESTMENT CLIMATE ,BUDGET LAW ,STRUCTURAL ADJUSTMENT ,INTERNATIONAL SUPPORT ,DONOR COORDINATION ,MACROECONOMIC MANAGEMENT ,REVENUE PROJECTIONS ,COMMERCIAL BANK ,NATIONAL POVERTY ,PUBLIC ADMINISTRATION ,INTERNATIONAL DEVELOPMENT ,POLICY FORMULATION ,STATE BUDGET ,POVERTY ANALYSIS ,CENTRAL GOVERNMENT ,PRIVATE SECTOR ,RECURRENT EXPENDITURES ,PUBLIC FINANCIAL MANAGEMENT ,PERFORMANCE ASSESSMENT ,REVENUE FORECASTING ,ECONOMIC POLICY ,RURAL WATER ,GOVERNMENT REVENUE ,LEGAL REFORM ,EXPENDITURES ,MACROECONOMIC POLICY ,COMMERCIAL BANKS ,INTERNATIONAL BANK ,SECTOR BUDGET ,CONDITIONALITY ,MONETARY FUND ,DATA AVAILABILITY ,FINANCE MANAGEMENT ,PUBLIC FINANCIAL MANAGEMENT SYSTEMS ,LOAN CLASSIFICATION ,EDUCATION POLICY ,LEGAL FRAMEWORK ,REFORM PROJECT ,NATURAL RESOURCES ,ADB ,CAPACITY BUILDING ,DEBT SUSTAINABILITY ,STRUCTURAL REFORMS ,TAX ADMINISTRATION ,TRUST FUNDS ,INTEREST RATE ,GOVERNMENT OFFICIALS - Abstract
Vietnam, a one-party socialist state dominated by the Communist Party of Vietnam, has in recent years moved towards a pragmatic growth-oriented approach to economic policy. Early reform measures in 1986 with the doi moi, or new way, introduced a series of market-oriented reforms in industry and trade, as well as agriculture. The collapse of the Soviet Union in 1989 hastened the pace of reform, as the authorities intensified monetary, banking, and structural reforms and set the stage for substantial trade and investment liberalization, and as Vietnam's arrears with the International Monetary Fund (IMF) were settled in 1993. Key lessons that emerge from the Vietnam study include: a) the Poverty Reduction Support Credit (PRSC) process is strengthened through rigorous analytic underpinnings (for example, Vietnam development reports, public expenditure reviews, and other analytical and advisory services) that provide a shared vision of the development agenda and a menu of policy actions linked to the thematic pillars of the poverty reduction strategy; b) even in a context of high government commitment, fostering a connection to an external anchor (such as world trade organization accession) can help maintain momentum in the PRSC process and reform generally; c) PRSCs can function as an effective complement to, and catalyst for, sector operations including the development of sector-wide approaches and sector budget support; and d) with large numbers of international and government participants, it becomes increasingly important for both Government and the Bank that responsibilities for coordinating inputs and consultation and maintaining a policy overview be closely linked, defined, and adequately funded.
- Published
- 2010