How do government bond yields respond to monetary policy? Evidence from Vietnam

Sy-Hoa Ho, Nu Ngoc Thuy Hoang, Minh Hien Luong, Huong-Nam Dau and Hoang Anh Le

Journal of the Asia Pacific Economy, 2024, vol. 29, issue 4, 2133-2151

Abstract: This paper analyzes the impact of monetary policy, banking liquidity, and macroeconomic factors on the government bond yield in Vietnam by employing a VAR model. Our findings show that the central bank policy interest rate plays a significant role in government bond yield both in the short- and long-term. There was a downward trend of government bonds in the period 2007–2019 thanks to the improvement of banking system liquidity as well as macroeconomic stability. The results are robust when the government bond yield is computed by three factors, including level, slope, and curvature.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13547860.2023.2234718 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rjapxx:v:29:y:2024:i:4:p:2133-2151

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjap20

DOI: 10.1080/13547860.2023.2234718

Access Statistics for this article

Journal of the Asia Pacific Economy is currently edited by Leong Liew

More articles in Journal of the Asia Pacific Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().