The Political Economy of Small and Medium-Sized Enterprise Development: Characteristics, Productive Value and Market Constraints in Industrial Manufacturing

IF 0.8 Q3 ECONOMICS

Journal of Southeast Asian Economies Pub Date : 2020-12-10 DOI:10.1355/ae37-3d

C. Ngo, M. Chi

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引用次数: 4

Abstract

Abstract:This paper highlights the importance of small and medium-sized enterprise (SME) development and introduces the theoretical concept of productive value for qualitative analysis of firms. Vietnam's industrial development experience is used as a case study. Although the Vietnamese government has channelled rents and business opportunities towards the state sector, the domestic private sector has been crucial to the country's industrial development. Given this context, this study analyses how Vietnamese SMEs in the private sector generate productive value and overcome market failures that constrain their growth. Research findings demonstrate that most local SMEs in the industrial sectors rely on low pricing strategy to attract buyers. However, those that grow in size frequently go beyond price competition and concentrate on creating new productive value in their production and services. Furthermore, unlike SMEs in developed countries, in Vietnam, firm size is an indicator of productive value and strength. From this perspective, SME development policies in emerging economies must focus on promoting the growth of domestic firms over time.

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中小企业发展的政治经济学:工业制造业的特点、生产价值与市场约束

摘要:本文强调了中小企业发展的重要性，并引入了生产价值的理论概念对企业进行定性分析。以越南的工业发展经验为个案研究。尽管越南政府将租金和商业机会引向国有部门，但国内私营部门对该国的工业发展至关重要。在此背景下，本研究分析了越南私营部门的中小企业如何创造生产价值并克服制约其增长的市场失灵。研究结果显示，本地工业领域的中小企业大多依靠低价策略吸引买家。然而，那些规模扩大的企业往往超越价格竞争，专注于在其生产和服务中创造新的生产价值。此外，与发达国家的中小企业不同，在越南，企业规模是生产价值和实力的指标。从这个角度来看，新兴经济体的中小企业发展政策必须注重促进国内企业的长期成长。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Southeast Asian Economies ECONOMICS-

CiteScore

1.00

自引率

0.00%

发文量

期刊介绍： The Journal of Southeast Asian Economies (JSEAE) is a peer-reviewed multi-disciplinary journal focusing on economic issues in Southeast Asia. JSEAE features articles based on original research, research notes, policy notes, review articles and book reviews, and welcomes submissions of conceptual, theoretical and empirical articles preferably with substantive policy discussions. Original research articles and research notes can be country studies or cross-country comparative studies. For quantitative-oriented articles, authors should strive to ensure that their work is accessible to non-specialists. Submitted manuscripts undergo a rigorous peer-review process – two reviewers for original research articles and one reviewer for research notes and policy notes. The journal is published three times a year: April, August and December.