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VCP VI Congress witnessed a change in economic thought that aimed at increasing the production. The Congress provided a guidance for an extensive model of economic growth. In fact, this model produced various positive results, mobilizing all possible resources for production and satisfying demands for food and employment. | 10 | Đỗ Phú Trần Tình Preconditions for Reform in Vietnam’s Model Preconditions for Reform in Vietnam’s Model of Economic Growth ĐỖ PHÚ TRẦN TÌNH* ABSTRACT VCP VI Congress witnessed a change in economic thought that aimed at increasing the production. The Congress provided a guidance for an extensive model of economic growth. In fact, this model produced various positive results, mobilizing all possible resources for production and satisfying demands for food and employment. Prolonged dependence on this model, however, led to many shortcomings: unstable growth rate, waste of natural resources, environmental pollution, poor competitiveness and unstable balances of trade and payments. Seeking for and changing the model of economic growth, therefore, has become a matter of great urgency to Vietnam today. Keywords: economic growth, model of economic growth 1. INTRODUCTION Developing the economy at a high rate is desirable for all countries. The world today, however, is witnessing negative effects of fierce economic growth, such as damage to natural resources, worsening living conditions, and widening gaps between the rich and the poor. Seeking for and changing the model of economic growth, therefore, has become an urgent problem to many countries, including Vietnam. The paper examines changes in Vietnam’s model of economic growth and suggests preconditions needed for successful change in the model of economic growth for the coming years. The paper is based on qualitative methods with such devices as analyzing, comparing, contrasting and generalizing. 2. THEORIES OF MODEL OF ECONOMIC GROWTH Economic growth and growth model have been discussed by economists for ages. Typical views are as follows: First, the classical view developed by William Petty (1623-1687), Adam Smith (1723 - 1790) and David Ricardo (1772 - 1823) [Trần Thọ Đạt, 2005] maintains that agriculture is the most important and therefore basic factors of economic growth are land, labor and capital. Degree
