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(Ebook) Open and Closed Economies : Lessons from the Philippines and Vietnam by Roderick Macdonald ISBN 9783030795337, 3030795330

  • SKU: EBN-36421920
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Authors:Roderick Macdonald
Pages:164 pages.
Year:2021
Editon:1
Publisher:Palgrave Macmillan
Language:english
File Size:2.98 MB
Format:pdf
ISBNS:9783030795337, 3030795330
Categories: Ebooks

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(Ebook) Open and Closed Economies : Lessons from the Philippines and Vietnam by Roderick Macdonald ISBN 9783030795337, 3030795330

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.

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