Project title: Mercantilist economic theory and the policy implications to Vietnam (KT.08.09)

Code: KT.08.09

Coordinator: Dr. Pham Thi Hong Diep

Implementing institution: Faculty of Political Economics, College of Economic, VNU.

Duration: From 9/2008 to 6/2009


  • Systematize economic policies of Mercantilism from early XVI to middle century XVIII.
  • Suggest some policy implications to economic development of Vietnam

Main contents:

  • Mercantilism was the first school of economic thought which presented economic issues of the transition period from feudal society to capitalist society through the view of Western Europe traders. The mercantilist thought has been known mainly as practical advices on economic policies, which closely related to authors’ subjective benefit. The research project systematized economic policies of Mercantilism from early XVI too middle of XVIII in several Western European countries. Those policies were: Policy to the whole country, to trade, to industry, to agriculture and management policy of state to the economy.
  • Among them, foreign trade policies was the most excellent and the focal point.
  • Pausing in empiricism, the core value of mercantilist economic policies has been found in modern economic policies. Based on the systematized economic policies of mercantilism, some implications have been suggested to Vietnam such as: dealing with free trade policy or protectionism; internal oriented development or external oriented development; and the role of state government on economic management and fostering foreign trade. In the context of industrialization and international integration, those implications could be applied to economic development of Vietnam recently.

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