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This paper develops a model incorporating asymmetric government expenditure behavior in response to a windfall revenue gain occasioned by a transitory commodity boom. The model is used to illustrate the transitional dynamics of a stylized economy during the boom period and the nature of the macroeconomic disequilibria which emerge in the post-boom period. Country case studies of Sri Lanka, Malaysia, and Kenya support the model’s predictions and the protracted nature of adjustment following the waning of the boom.

Investments: Energy --- Exports and Imports --- Foreign Exchange --- Public Finance --- Fiscal Policy --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Studies of Particular Policy Episodes --- National Government Expenditures and Related Policies: General --- Commodity Markets --- Trade: General --- Empirical Studies of Trade --- Public finance & taxation --- International economics --- Currency --- Foreign exchange --- Investment & securities --- Expenditure --- Real exchange rates --- Commodity booms --- Exports --- Trade balance --- Commodities --- International trade --- Expenditures, Public --- Commercial products --- Balance of trade --- Sri Lanka

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The paper explores the pattern of transition of the Vietnamese economy, the policies that were applied, and the reasons for the country's success. In particular, it focuses on output performance; state-owned enterprises; foreign direct investment; determinants of inflation; dollarization and problems of economic management; international integration and exchange rate policy; growth and diversification of trade, trade reform, exchange reform, and exchange rate policy.

Mixed economy --- Vietnam --- Economic policy. --- Economic conditions --- Economy, Mixed --- Third way (Economics) --- Capitalism --- Socialism --- Exports and Imports --- Foreign Exchange --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Price Level --- Deflation --- Agriculture: General --- International Investment --- Long-term Capital Movements --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Currency --- Foreign exchange --- Finance --- Monetary economics --- Exchange rates --- Foreign direct investment --- Agricultural sector --- Exchange rate policy --- Prices --- Balance of payments --- Economic sectors --- Investments, Foreign --- Agricultural industries --- Industries --- Foreign exchange market