A little engine that could: domestic private companies and Vietnam?s pressing need for wage employment

Vietnam's young private sector is growing fast. Crucial to this growth has been a policy environment that increasingly recognizes the importance of private entrepreneurship-particularly its potential to help address the country¹s pressing need for significantly increased wage employment creation. Expanding the benefits of private sector growth beyond urban centers out into the rural areas where most Vietnamese live-and where poverty and underemployment are heaviest-will require significantly increased information flows on what is working and what is not. This paper presents an objective picture of Vietnam's emerging private sector, two years after initial implementation of the country's much praised Enterprise Law. The country's private companies are significantly better off than they were just a couple years earlier, when regional economic recession and stagnation on domestic policy reforms had brought development of the formal private sector to a near standstill. At the same time, the sector's small base means that its impressive rates of job creation still fall far short of matching the booming growth of the overall work force. Information for this paper is based on data collected from Vietnam's General Office of Statistics, a small number of individual company case studies, and a national firm-level survey designed and implemented by the authors. Research for the paper revealed significant gaps in available private sector data and flaws in current data gathering methodologies-calling into question the ability of policy makers and advisors to understand rapid, ongoing economic developments and make appropriate and timely policy decisions. The authors hope that this paper can serve as a starting point and an impetus for more targeted research aimed at identifying and addressing specific obstacles to sustainable and broad based job and wealth creation.Health Monitoring&Evaluation,Small Scale Enterprise,Microfinance,Small and Medium Size Enterprises,Public Health Promotion,Private Participation in Infrastructure,Microfinance,Small Scale Enterprise,Health Monitoring&Evaluation,Small and Medium Size Enterprises

MNE responses to carbon pricing regulations: Theory and evidence

AbstractThis paper develops theory suggesting that, relative to purely domestic firms, multinational enterprises (MNE) have greater incentives and strategic and operational means to respond to expanding carbon emissions constraints. We test our resulting hypotheses with data on changes in carbon emissions by over 6,000 industrial plants during Phase 2 (2008–2012) of the European Union's Emissions Trading Scheme. We find that MNE maintain: (1) consistent carbon reductions across institutional contexts, and (2) an overall carbon performance edge over domestic firms. The carbon performance gap between MNEs and domestic firms narrowed, however, in host countries transitioning towards more stringent market regulatory systems. By demonstrating that the effects of national and international carbon regulations on firm behavior interact in important ways with each other and with firm characteristics, this paper deepens understanding of how institutions are likely to shape the ongoing energy transition towards a low-carbon economy

Minimum information about a protein affinity reagent (MIAPAR)

This is a proposal developed within the community as an important first step in formalizing standards in reporting the production and properties of protein binding reagents, such as antibodies, developed and sold for the identification and detection of specific proteins present in biological samples. It defines a checklist of required information, intended for use by producers of affinity reagents, qualitycontrol laboratories, users and databases. We envision that both commercial and freely available affinity reagents, as well as published studies using these reagents, could include a MIAPAR-compliant document describing the product’s properties with every available binding partner. This would enable the user or reader to make a fully informed evaluation of the validity of conclusions drawn using this reagent

Where Is Credit Due? Legal Institutions, Connections, and the Efficiency of Bank Lending in Vietnam

Rapid development of the domestic private sector in communist China and Vietnam has been offered as evidence against a large literature that claims a solid legal infrastructure is required for the financial sector to contribute to economic development. One component of the counterargument holds that relationship-based lending has served as an effective substitute for legal institutions. In this article, we challenge this assertion with empirical findings that show bank credit allocation that relies heavily on "connections" undermines the impact of finance on investment growth. Our data come from Vietnam, where--like China--the private sector and financial sector are expanding dramatically but rule of law has not kept pace. Although Vietnam's banking sector is in transition toward a healthier system, it still allocates a disproportionate share of credit to "connected" enterprises in less competitive regions. We find that political connections, in particular, are an ineffective tool for channeling bank credit to the most profitable investors. Using a two-stage empirical approach, we find evidence that banks place greater value on connections than performance and that the firms with greater access to bank loans are no more profitable than firms without them. By some measures, connected firms are even significantly less profitable. We conclude by demonstrating that the most profitable investors in Vietnam have forgone the formal banking system, preferring to finance their activities out of reinvested earnings or informal loans (JEL G21, G28, G30, O12, K11). The Author 2008. Published by Oxford University Press on behalf of Yale University. All rights reserved. For permissions, please email: [email protected], Oxford University Press.

Mekong capital and mobile world (A): Growing a US$ 100 million company in Vietnam

In 2009, the owners of Mobile Joint Stock Company (Mobile World) were struggling to manage the challenges of rapid internal growth in a fast-changing and competitive industry. At the same time, private equity firm Mekong Capital was considering its role in the company and how to guide future growth. There was some dissension between the two parties; how could they resolve their differences and add value to the company