This paper uses adynamic model to analyse the effects of liberalisation on the long-run output and transitional growth of the Vietnamese rice sector during the period of reform from 1981 to the present. In particular, the paper attempts to allow for the incentive effects which can result if...

This paper develops a dynamic model to account for the enhanced incentive effects that result from market reform in the form of a move toward private property rights and competitive market.

Uzawa (1968) first introduced a simple and appealing method for reducing problems with variable rates of time preference to single-state systems by transforming the time scale from t to (delta's symbol), a utility discount factor. The purpose of this paper is to show that Uzawa's transformation...