The Case of Vietnam
Over the last few decades, development policy has been dominated by mainstream economic theories that focus on the need for economic growth above all else to achieve sustainable development. But, in practice, many of the developing countries that have undergone radical structural adjustment of their economies to increase growth have not significantly reduced their poverty rates. A new approach is clearly needed such that economic growth translates into poverty reduction. The economic success of Vietnam over the last 25 years may provide a new development model of growth with greater equity.