Vietnam’s cautious move towards market reforms have led to impressive economic growth while maintaining aspects of its political economy including the dominance of the state-owned sector. Vietnam’s reform policies known as Doi Moi (Restoration), which began in 1986, transformed the country from one of the world’s poorest to a lower middle-income country. Known as a socialist market economy, its development model has been termed “market-Leninism” which refers to the combination of a market economy with social control of capital.

Vietnam achieved relatively high rates of economic growth averaging 5.9% in 2000-2015 and 6% during the period 2016-2020. Its political system, a one-party communist state, remained unchanged over the past three decades. Currently, the economy is facing a tumultuous period marked by a decline in exports and investment. This program focuses on understanding Vietnam’s political economy of market-Leninism by exploring its history and its current prospects and challenges. Students will meet with both state-owned and private enterprises, interact with experts and policy makers to gain insights into the political economy of Vietnam.