Macroeconomics and monetary policy in Vietnam


Authors

  • Nguyen Mau Ba Dang University of Finance and Marketing
  • Ngo Thai Hung University of Finance and Marketing
  • Pham Nhu Binh Thu Dau Mot University
DOI: https://doi.org/10.57110/jebvn.v4i1.216

Keywords:

Monetary policy, interest rate, re-delivery, economic openness, percentile regression

Abstract

Utilizing quantile regression and time series data from 2000 to 2021, this study seeks to assess how monetary policy in Vietnam is impacted by economic events. The findings demonstrate that given that price stability is the central bank’s top priority, inflation has a considerable bearing on monetary policy. Additionally, while the exchange rate has a beneficial impact on monetary policy, the money supply has a negative impact on interest rates. Interest rates are negatively impacted by trade openness, particularly at high quantiles. These findings are supported by statistical evidence and macroeconomic theory. Overall, monetary policy is significantly influenced by shocks to Vietnam’s macroeconomic fundamentals.

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Published

25-02-2024

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How to Cite

Nguyen Mau Ba Dang, Ngo Thai Hung, & Pham Nhu Binh. (2024). Macroeconomics and monetary policy in Vietnam. VNU JOURNAL OF ECONOMICS AND BUSINESS, 4(1), 1. https://doi.org/10.57110/jebvn.v4i1.216

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