Article: The nexus of financial liberalisation and economic growth: is Vietnam different? Journal: International Journal of Economics and Business Research (IJEBR) 2023 Vol.25 No.2 pp.292 - 308 Abstract: This paper explores the relationship of economic growth and financial liberalisation in Vietnam, an emerging economy with remarkable changes since 2000. By drawing the quarterly dataset over the 20-year period starting from 2000 and the vector error-correction model estimation, our findings support the causal relationship among the set of macroeconomics determinants, such as credit rate, money supply as well as exchange rate. After controlling rigours determinants, we found that these two factors exhibit the causality in short-term and long-term. From this starting point, the relevant policy implications are drawn to highlight the process of liberalising the financial system as well as the list of non-conforming reservation measures (NCM) during the proposed negotiation process. Inderscience Publishers - linking academia, business and industry through research

Title: The nexus of financial liberalisation and economic growth: is Vietnam different?

Authors: Thi Thuy Hang Le; Nga Hang Thi Phan; Xuan Dung Nguyen; Vu Than Nguyen

Addresses: University of Finance – Marketing (UFM), Ho Chi Minh City, Vietnam ' University of Finance – Marketing (UFM), Ho Chi Minh City, Vietnam ' University of Finance – Marketing (UFM), Ho Chi Minh City, Vietnam ' University of Finance – Marketing (UFM), Ho Chi Minh City, Vietnam

Abstract: This paper explores the relationship of economic growth and financial liberalisation in Vietnam, an emerging economy with remarkable changes since 2000. By drawing the quarterly dataset over the 20-year period starting from 2000 and the vector error-correction model estimation, our findings support the causal relationship among the set of macroeconomics determinants, such as credit rate, money supply as well as exchange rate. After controlling rigours determinants, we found that these two factors exhibit the causality in short-term and long-term. From this starting point, the relevant policy implications are drawn to highlight the process of liberalising the financial system as well as the list of non-conforming reservation measures (NCM) during the proposed negotiation process.

Keywords: economic growth; financial liberalisation; Vietnam.

DOI: 10.1504/IJEBR.2023.127932

International Journal of Economics and Business Research, 2023 Vol.25 No.2, pp.292 - 308

Received: 20 Apr 2021
Accepted: 25 May 2021
Published online: 22 Dec 2022 *

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