a column by Leonardo Baccini, Giammario Impullitti and Edmund Malesky for VOX: CEPR’s Policy Portal
The recent success of China and Vietnam over the past three decades has triggered a debate over ‘state capitalism’ as a viable growth and development model.
This column studies the effect of the 2007 WTO accession on the productivity, profitability, and survival rates of state-owned and private Vietnamese firms. The findings reveal that state-owned enterprises have hampered the efficiency gains brought about by globalisation.
An analysis suggests that productivity gains from trade five years after WTO entry might have been 66% higher in the absence of state-owned firms.
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