Journal Article
The political economy of small and medium-sized enterprise development

This study analyses the differentials of productive values in Vietnamese micro, small, and medium enterprises (MSMEs) and how market constraints have hindered their performance. Quantitative analyses suggest substantial differences in value addition among manufacturing MSMEs, and the crucial contribution of technology adoption to their development.

We assess MSMEs’ productive value, production organization and performance using qualitative analysis. Our case studies identify market failures hindering MSMEs’ potential; explain their strengths and weaknesses; and assess how the market structure influences their production costs and business strategies.

Drawing from these insights, we suggest policy options to strengthen capability and competitiveness of Vietnamese’ MSMEs.