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- W1578639913 abstract "The transformation from socialist planning to a mixed market economy, formalised by doi moi (renovation) reforms in 1986, required normative laws and macro-economic levers to replace command planning. Lawmakers drew extensively from western commercial law to enact a legal framework conducive to private production, foreign direct investment (FDI) and regional trade agreements (e.g. ASEAN, US-Vietnam Bilateral Trade Agreement). Work commenced on a bankruptcy law in 1991 to bring order to debt recovery and distribution. A Law on Business Bankruptcy (LBB) (Luat Pha San Doanh Nghiep) was enacted by the National Assembly in 1993 and commenced operation in July 1994. By any measure, transplanted bankruptcy principles have failed to take root in Vietnam. Bankruptcy cases declined in Vietnam during the East Asian Economic Crisis (1997-2001) when non-performing business loans dramatically increased. This article investigates the ways Vietnamese ideological, cultural and structural conditions have influenced the reception of the LBB. The article argues that legal transfers are shaped more by political, economic and legal interactions, than by ‘chance and prestige.'" @default.
- W1578639913 created "2016-06-24" @default.
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- W1578639913 date "2012-11-12" @default.
- W1578639913 modified "2023-09-27" @default.
- W1578639913 title "Receiving Bankruptcy Law into Vietnam" @default.
- W1578639913 hasPublicationYear "2012" @default.
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