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Palgrave Macmillan

Open and Closed Economies

Lessons from the Philippines and Vietnam

  • Book
  • © 2022

Overview

Authors:
  1. Roderick Macdonald

    1. International Business, UEH-ISB, Ho Chi Minh City, Vietnam

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  • Discusses recent data and research on international trade and capital mobility

  • Describes the economy of Vietnam that has grown rapidly since beginning to open in 1994

  • Relates the stagnation of the Philippines as it remained closed from 1960 to 1994

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Table of contents (4 chapters)

  1. Front Matter

    Pages i-xix
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  2. Open Economies, Closed Economies and a Case Study

    • Roderick Macdonald, Prosper Bernard, Michel Plaisent
    Pages 1-26

  3. Vietnam: Open, Growing, but with so Much More Potential

    • Roderick Macdonald, Trung Q. Nguyen
    Pages 27-65

  4. The Philippines: Decades Lost

    • Roderick Macdonald
    Pages 67-114

  5. Open and Closed, Prosperity and Stagnation

    • Roderick Macdonald
    Pages 115-142

  6. Back Matter

    Pages 143-145
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Keywords

About this book

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 20th and early 21st 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.

Authors and Affiliations

  • International Business, UEH-ISB, Ho Chi Minh City, Vietnam

    Roderick Macdonald

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.


Bibliographic Information

  • Book Title: Open and Closed Economies

  • Book Subtitle: Lessons from the Philippines and Vietnam

  • Authors: Roderick Macdonald

  • DOI: https://doi.org/10.1007/978-3-030-79534-4

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Author(s), under exclusive license to Springer Nature Switzerland AG 2022

  • Hardcover ISBN: 978-3-030-79533-7Published: 24 November 2021

  • eBook ISBN: 978-3-030-79534-4Published: 23 November 2021

  • Edition Number: 1

  • Number of Pages: XIX, 145

  • Number of Illustrations: 2 b/w illustrations, 50 illustrations in colour

  • Topics: International Economics, Asian Economics, Economic Policy

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