The Vietnamese Financial Economy: Reforms and Development, 1986-2016
Vuong, Q.H. (2019). “The financial economy of Viet Nam in an age of reform, 1986-2016”. In U. Volz, P. Morgan and N. Yoshino (Eds.) Routledge Handbook of Banking and Finance in Asia (pp. 201-222). New York, NY: Routledge.
46 Pages Posted: 29 May 2019
Date Written: December 2, 2018
In an age of reform, Vietnam’s financial systems have come to a critical stage in which the quality of policy-making, independence of the central banking operations and over-risk controls will ultimately be required if the country is set to move forward in a sustainable fashion. Analysts may have different views about Vietnam’s financial economy, but all agree that it has evolved and grown fast over the past three decades. The next course of development will depend on how Vietnamese society views raison d’être of its financial systems and financial health. But the process will much depend on the economic growth of the economy as a whole. Failing to support a sustained growth puts VFS’s existence at risk as economic growth helps mitigate higher risk-taking behavior and contain instability in less competitive markets.
Keywords: Financial economy, reforms, emerging market, money market, capital market
JEL Classification: E44, E58, F36, G00
Suggested Citation: Suggested Citation