Nobel prize winner praises Viet Nam’s ten-year strategy
HANOI - Professor Joseph Stiglitz, who was recently awarded the Nobel
Prize in Economics, has expressed a positive view
on Viet Nam. During a series of high level consultations organized by
UNDP in Hanoi this past June, Stiglitz commented
that: "The new ten-year socio-economic development strategy has been
developed in a way that has engendered broad
consensus. The strategy is one that attempts to ensure equity and
stability at the same time that it promotes growth. It
embodies a deliberate and gradual transformation of the economy.
Indeed, I believe that without equity and stability,
one cannot attain sustained growth."
Professor Stiglitz was visiting Viet Nam within the framework of UNDP's
ongoing advisory assistance to the Government in
the implementation of the country's new Ten Year Socio-economic
Development Strategy 2001-2010.
"Professor Stiglitz is well known internationally as a sympathetic and
reliable friend of developing countries, and a
world class independent thinker and advisor offering alternative views"
said UNDP Resident Representative Edouard
Wattez, and "we are obviously very pleased that he was so enthusiastic
about participating within the framework of our
ongoing policy advisory services to the Government."
During 1993-97, Dr. Stiglitz was the Chairman of the U.S. Council of
Economic Advisors under President Bill Clinton.
Following three distinguished years as Chief Economist of the World
Bank, Dr. Stiglitz left in early 2000 to pursue
independent policy thinking and research. Professor Stiglitz has taught
and lectured at most of the world's very best
universities including Stanford, Yale, MIT, Princeton, Columbia,
Oxford, Cambridge and others.
Stiglitz, and his American colleagues, George A. Akerlof and A. Michael
Spence, were yesterday awarded Nobel Laureate in
Economics by the Royal Swedish Academy of Sciences "for their analyses
of markets with asymmetric information".
While in Viet Nam, Professor Stiglitz had private meetings with Prime
Minister Phan Van Khai, Deputy Prime Minister
Nguyen Manh Cam; Trade Minister Vu Khoan and State Bank Governor Le Duc
Thuy, on a variety of policy issues and
challenges facing Viet Nam. Stiglitz also met with the National
Committee for International Economic Cooperation;
delivered a public lecture at National University on "Public Policy for
Knowledge-based Development"; and participated
in a session of UNDP's
Monthly Donor Group Forum, a regular monthly forum of the ODA
community organized by UNDP.
Stiglitz has researched and written extensively on a number of policy
challenges of great relevance to Viet Nam
including: The Challenge of International Economic Integration for
Transitional Economies; Lowering the Risk of Market
Failure; The Role of the State; Institution Building for Successful
Transition; Mitigating Negative Social Impacts from
Integration; Public Policy for Knowledge-based Development; and Second
Generation Reform Strategies.
According to Robert Glofcheski, UNDP's Chief Resident Economist,
"Stiglitz was very positive about his consultations
with Viet Nam’s leaders and policy makers, and plans to return to Viet
Nam during 2002 within the framework of UNDP's
policy advisory assistance to the Government".
For photos of the Stiglitz visit to Viet Nam,
Pease contact UNDP Public Information Unit, phone 942149
UNDP Vietnam Media Release - October 11, 2001.
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