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Evaluating Vietnam’s changing comparative advantage patterns

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This article provides an empirical analysis of Vietnam’s comparative advantage and its changes since the country’s reform programme began in 1986. The framework for analysis is the concept of revealed comparative advantage. | ASEAN Economic Bulletin Vol. 27, No. 2 (2010), pp. 221–30 ISSN 0217-4472 print / ISSN 1793-2831 electronic DOI: 10.1355/ae27-2e Evaluating Vietnam’s Changing Comparative Advantage Patterns Quoc-Phuong Le This article provides an empirical analysis of Vietnam’s comparative advantage and its changes since the country’s reform programme began in 1986. The framework for analysis is the concept of revealed comparative advantage. The findings indicate that despite a rapid shift in comparative advantage structure from primary products towards labour-intensive manufacturing during 1991–96, and a further slow shift towards technology-intensive manufacturing since then, Vietnam’s comparative advantage is still largely based on the country’s endowments of labour and natural resources. So far Vietnam has been able to expand its exports mainly by exploring these favourable conditions. However, exports based on such existing comparative advantage do not deliver significant value-added earnings. It is therefore recommended that relevant policy be implemented to move the economy and its export sector towards a desirable comparative advantage structure by: (1) strengthening food-processing and mining-processing industries to increase value-addedness of exports of primary products; (2) building up strong supporting industries to move the manufacturing sector away from outward processing; (3) encouraging investment in technology-intensive industries; and (4) enhancing human capital and raising the technology capacity of firms. Keywords: Vietnam, comparative advantage, revealed comparative advantage, factor endowments. I. Introduction and multilateral trade and economic schemes such as AFTA, APEC and WTO, signed bilateral trade agreements with the U.S. and many other nations, and has duly implemented its commitments under these treaties. This significant progress, in part, can be attributed to the fact that in the process of international economic integration, Vietnam has been .