Christopher Parsons, Pierre-Louis Vézina, 15 August 2018

One of the largest refugee waves in recent history was that of the Vietnamese boat people. This column examines the long-run effect of the resettlement of Vietnamese refugees across the US on exports from the US to Vietnam. The first wave of refugees in 1975 was followed by a 20-year trade embargo on Vietnam. Following the lifting of sanctions, the share of US exports going to Vietnam was higher and more diversified in the states with larger Vietnamese populations. This evidence of the pro-trade effect of immigrants is a reminder that hosting refugees can represent an investment in the future.

Vito Amendolagine, Andrea Presbitero, Roberta Rabellotti, Marco Sanfilippo, 24 January 2018

A new wave of foreign direct investment has swept sub-Saharan African countries, with inflows becoming more diversified both geographically and sectorally. This column presents an analysis that shows a high degree of complementarity between involvement in global value chains and FDI. Policies supporting the entry and upgrading of countries in such chains – especially via a strong institutional setting and a well-educated labour force – can help maximise the spillovers from foreign investment.

Melissa Dell, Pablo Querubin, 16 August 2016

The nature of US military interventions has become relevant in the face of new growing threats, particularly from so-called Islamic State. While top-down strategies that rely on overwhelming firepower are sometimes favoured by politicians, longer-term strategies use a bottom-up approach, gaining citizens’ support through civic engagement. This column introduces evidence from US actions during the Vietnam War to show that bottom-up approaches are more successful in countering insurgencies than violent, top-down interventions.

Christopher Parsons, Pierre-Louis Vézina, 23 May 2014

Immigrants potentially foster international trade by reducing trade costs. This column uses the exodus of the Vietnamese boat people to the US as a natural experiment to provide evidence of such a pro-trade effect. An exogenous allocation of Vietnamese migrants across the US in 1975 was followed by a 20-year trade embargo. Following the lifting of sanctions in 1994, the share of US exports going to Vietnam was higher and more diversified in the states with larger Vietnamese populations.

Sarah Chan, 24 October 2012

Vietnam’s recent economic performance has been marred by large swings in economic and financial conditions. This column argues that the inability to respond quickly to changing conditions, the pro-growth bias of the State Bank of Vietnam, as well as a 'stop and go' policy style partly explain this. It adds that inefficient state-owned enterprises and weaknesses in the banking system need to be addressed expeditiously.


CEPR Policy Research