In analyzing Viet Nam's recent economic adjustments, this paper attempts to distinguish events and policies that are properly assigned to the trasition effort and those more properly associated with economic development.

Firm turnover (i.e. firm entry and exit) is a well-recognized source of sectorlevel productivity growth across developing and developed countries. In contrast, the role and importance of firms switching activities from one sector to another is little understood. Firm switchers are likely to be...