Servicisation in Vietnam: worrying sign or sign of development progress?

Crawford School of Public Policy | Arndt-Corden Department of Economics

Event details

ACDE Seminar

Date & time

Tuesday 06 February 2018
2.00pm–3.30pm

Venue

Coombs Seminar Room B, Coombs Building 9, Fellows Road, ANU

Speaker

Adam Fforde, Victoria University.

The presentation engages with issues in analysing Vietnam’s growth pattern since the start of her ‘economic miracle’ in the early 1990s. The data show that structural change has taken the form, not of De-Agriculturalising Industrialisation (DAI) but De-Agriculturalising Servicisation (DAS). Expectations of DAI have thus biased data collection and policy advice away from reality. In fact, the global norm/average since the early 1990s has also been DAS not DAI, with greater servicisation associated with faster GDP growth. The presentation will justify these observations and discuss: 1. Evidence for the bias of global development research against DAS and possible explanations for it in how anomalies are often treated; 2. A plausible model to explain DAS; and 3. Pointers as to why standard theory may break down in looking at rich servicised economies.

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