An evaluation of monetary policy in Vietnam, 1998-2016: a SVAR approach

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.advisor Ghosal, Animesh Bach, Thi Nhat Thao 2017-05-11T10:19:17Z 2017-05-11T10:19:17Z 2017
dc.description.abstract Objectives The main objectives of this study were the dynamic relationships of various macroeconomic variables to explore how monetary policy affects output and especially inflation in Vietnam, and suggest some improvements for monetary policy in Vietnam. Summary In 1998-2006, the main contributors of variation are GDP itself and rice shocks but are only GDP shocks in 2007-2016. Main drivers of inflation during 1998-2006 are its own innovations and shocks from external factors. Nevertheless, in the following period, they are its own shocks and shocks from oil price and domestic credit aggregate. Credit channel is found to have an important role in monetary transmission mechanism, while interest rate might not be the main instrument of the central bank to control inflation. Conclusions The empirical results and economic conditions in Vietnam suggest that the central bank should try to improve the channels for monetary transmission with the focus on the interest rate channel. Moreover, it should take into consideration the movements of foreign variables and implement the appropriate policy to counter the effects of these variables. en
dc.format.extent 98
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title An evaluation of monetary policy in Vietnam, 1998-2016: a SVAR approach en
dc.type G1 Kandidaatintyö fi Kauppakorkeakoulu fi School of Business en
dc.contributor.department Mikkelin kampus fi
dc.subject.keyword monetary policy en
dc.subject.keyword inflation en
dc.subject.keyword SVAR en
dc.subject.keyword Vietnam en
dc.subject.keyword economic growth en
dc.identifier.urn URN:NBN:fi:aalto-201705114524
dc.type.ontasot Bachelor's thesis en
dc.type.ontasot Kandidaatintyö fi
dc.programme (Mikkeli) Bachelor’s Program in International Business en

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