International Investment Perspectives 2005

image of International Investment Perspectives 2005
International Investment Perspectives is an annual report from the OECD  on international investment developments.  The focus of the 2005 edition is on policies affecting the investment climate, including work to establish a Policy Framework for Investment and a checklist for policy makers on creating a good environment for attracting investment and maximising its economic benefits.  This issue also includes articles covering foreign trade, competition, and fiscal policy.

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The Role of Development Assistance in Mobilising Investment

Recent Experiences in Vietnam

The focus of the present article is the linkage between official development assistance (ODA) and private investment in Vietnam. The evidence that it reviews relates to the period following the introduction of Doi Moi (Vietnam’s economic reform programme) in the late 1980s. During this period economic growth rates have been impressive and Vietnam has been a major recipient of ODA. ODA has been helpful in overcoming obstacles to economic growth such as a scarcity of resources and know-how, outdated technology, poor infrastructure and institutional failures. It has also helped build the competence, or inclination, at different levels of government to correct these problems. The success stories so far include an ODA-backed revision of enterprise legislation that is credited with creating hundreds of thousands of jobs in the formal economy and a small number of infrastructure projects that spurred an explosive enterprise creation in the concerned areas. Macroeconomic evidence of the linkage from ODA to investment, however, remains elusive.

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