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This paper analyses the success of UNDP-financed project titled “Strengthening Economic Management in Vietnam” which was launched end-1990 and implemented in two phases over a period of six years. It has been considered as one of the most successful projects in Vietnam and several assessments lauded its success, attributing it to structural factors. In this paper, the authors argue that contextual factors such as the state of the economy in the 1980s, the position of UNDP in Vietnam, the role of Economic Development Institute, and the leadership of Vietnam Office contributed to the success of the project.
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