Financing Small- and Medium-Sized in Vietnam

• Autorzy: Ninh Le Khuong , Niels Hermes
• Języki publikacji: EN

Abstrakty

EN

The Vietnamese economy has experienced major economic reforms, especially after 1989, also known s the Doi Moi policy. One of the remarkable facts about the reform process was the relatively quick ise of a large number of dynamic small- and medium-sized business enterprises (SMEs). These SMEs ;rew rapidly without any serious help from special programmes of the central authorities to support hem. Thus, to a large extent the reaction to the reforms was bottom-up. We are interested in nvestigatmg how these SMEs have financed the start of their activities, as well as their firm growth. As is stated elsewhere in the literature, these enterprises normally have difficulties with getting access ;o formal financial sources. It appears that this has also been the case in Vietnam - before and after the reforms - due to various obstacles in the economy. Therefore, other channels of finance must have been available that have financially supported the rise of a successful SME sector. In particular, we are interested in analysing what kind of channels of finance have developed and how they have worked to circumvent the problems of access to finance for investment. Knowledge of the functioning of this kind of informal institutions is important, since they might be very helpful to overcome the obstacles to growth due to the lack of well-developed formal financial institutions in Vietnam. Investigating the way they function may help to drawing policy conclusions to support their development and functioning. This paper provides the set-up for a research project that aims at investigating how SMEs in Vietnam finance their growth. The paper is organised as follows. Section 2 discusses the general economic developments in Vietnam since the mid-1980s. Section 3 presents a short overview of formal and informal financial sector during the late 1980s and 1990s. In particular, it discusses the peculiarities of informal financial relations in the Vietnamese economy, such as the so-called Hui groups as a source of finance for groups of SMEs. Sections 2 and 3 serve as a general background to the main research project, placing it into the right perspective. Section 4 focuses on the central aim of the research project. This section explains the obstacles facing SMEs when they want to get access to external finance. Section 5 describes the research strategy that is going to be used. The project centres around developing interview studies and questionnaires, which are used to acquire information on investment decisions and their finance of about one hundred SMEs in the region around the city of Can Tho, South Vietnam. Section 6 provides an evaluation. (original abstract)

Słowa kluczowe

EN

Economic reforms; Small business; Source of financing; Economic development; Economic relations

PL

Reformy gospodarcze; Małe i średnie przedsiębiorstwa; Źródła finansowania; Rozwój gospodarczy; Stosunki gospodarcze

• Czasopismo: Raporty. Opracowania. Referaty / Akademia Ekonomiczna w Poznaniu
• Rocznik: 1999
• Numer: nr 10 Proceedings of the Ace/Phare Conference on Building Financial Institutions in Transition Economies: Poznań, Poland, 14-15 May, 1999
• Strony: 420--443

Twórcy

autor

Ninh Le Khuong

• University of Groningen, Netherlands

autor

Niels Hermes

• University of Groningen, Netherlands

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