Learning to be Capitalists

Entrepreneurs in Vietnam's Transition Economy

Business & Finance, Economics, International Economics, Development & Growth, Nonfiction, Reference & Language, Reference
Cover of the book Learning to be Capitalists by Annette Miae Kim, Oxford University Press
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Author: Annette Miae Kim ISBN: 9780190451431
Publisher: Oxford University Press Publication: October 2, 2008
Imprint: Oxford University Press Language: English
Author: Annette Miae Kim
ISBN: 9780190451431
Publisher: Oxford University Press
Publication: October 2, 2008
Imprint: Oxford University Press
Language: English

Why have some countries been able to escape the usual dead end of international development efforts and build explosively growing capitalist economies? Based on years of fieldwork, this book provides a detailed account of the first generation of entrepreneurs in Vietnam in comparison to those in other transition countries. Focusing on the emergence of private land development firms in Ho Chi Minh City, the author shows how within seven years the private sector produced the majority of all new houses in the real estate market. This book demonstrates that capitalist entrepreneurialism was not the result of state initiative, properly incentivized policies, or individual personality traits. Rather, a society-wide reconstruction of cognitive paradigms enabled entrepreneurs to emerge and transformed Vietnam from a poor, centrally planned economy to one of the fastest growing, market economies in the world.

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Why have some countries been able to escape the usual dead end of international development efforts and build explosively growing capitalist economies? Based on years of fieldwork, this book provides a detailed account of the first generation of entrepreneurs in Vietnam in comparison to those in other transition countries. Focusing on the emergence of private land development firms in Ho Chi Minh City, the author shows how within seven years the private sector produced the majority of all new houses in the real estate market. This book demonstrates that capitalist entrepreneurialism was not the result of state initiative, properly incentivized policies, or individual personality traits. Rather, a society-wide reconstruction of cognitive paradigms enabled entrepreneurs to emerge and transformed Vietnam from a poor, centrally planned economy to one of the fastest growing, market economies in the world.

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