Assessing the price and output effects of monetary policy in Vietnam: Evidence from a VAR analysis

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Nguyen, Thi Mai Lan, Papyrakis, Elissaios and Van Bergeijk, Peter A. G. (2019) Assessing the price and output effects of monetary policy in Vietnam: Evidence from a VAR analysis. Applied Economics, 51 (44). pp. 4800-4819. ISSN 0003-6846

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Abstract

Using monthly data, we perform a vector-autoregressive analysis to measure the effects of monetary policy on the Vietnamese economy. We concentrate our attention on the period following the introduction of the Law on Central Bank in January 1998 (which brought the national monetary policy and its objectives in line with international practices). Contrary to previous studies on Vietnam, we find evidence suggesting that monetary policy (through the manipulation of interest rates) is an effective policy tool in stabilizing prices. However, credit growth tends to induce inflationary pressures. In addition, we find that an expansion of broad money supply leads to an increase in industrial production.

Item Type:	Article
Uncontrolled Keywords:	monetary policy,price level,var model,vietnam,economics and econometrics ,/dk/atira/pure/subjectarea/asjc/2000/2002
Faculty \ School:	Faculty of Social Sciences > School of Global Development (formerly School of International Development)
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Climate Change Faculty of Social Sciences > Research Groups > Globalisation and CSR
Related URLs:	http://www.scopus.com/inward/record.url?...
Depositing User:	LivePure Connector
Date Deposited:	13 Jun 2019 11:30
Last Modified:	25 Sep 2024 14:06
URI:	https://ueaeprints.uea.ac.uk/id/eprint/71375
DOI:	10.1080/00036846.2019.1602708

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