Reform in economic institution to promote restructuring and changing the economic growth model

Abstract

Despite its continuous improvements in the past 25 years, Vietnam?s economic institutions failed to act as a dynamic of economic restructuring and changes in economic growth model in the coming period. When the state fails to identify its functions and duties at all levels in economic management, it cannot control effectively all operations in the market. The state will be slow to change its habits of intervening in the market with its administrative decisions instead of indirect regulatory instruments used for dealing with market defects. In this paper, the author analyzes, interprets and make suggestions about two major issues: (1) Changes in concepts of economic functions of the state in the market economy; and (2) Effective use of macroeconomic regulatory instruments.\r\n