Inflationary Implication of Gold Price in Vietnam*

Thi Kim Cuc Nguyen and Reza Siregar

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: The sustained elevated gold price domestically, hovering persistently above the global market price, underscores the peculiar nature of the gold market in Vietnam and the resiliently strong demand for gold in the local market. In particular, the movements in the price of gold seem to lead a symmetrical trend in the headline inflation since the outbreak of the 2007 global financial crisis. The primary objective of this study is therefore to assess possible inflationary consequence of the gold price movements in Vietnam. Past studies demonstrate that if gold could be viewed as a financial asset, shifts in the gold price should be monitored as one of the determining factors of inflation. Yet, hardly any study has assessed potential inflationary implication of gold in Vietnam, especially during the recent years of volatile and double-digit inflation rates.

Keywords: Gold Price; Vietnam; Money Demand; and Inflation (search for similar items in EconPapers)
JEL-codes: C24 E31 E41 E52 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2013-04
New Economics Papers: this item is included in nep-mon and nep-sea
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Citations: View citations in EconPapers (2)

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Working Paper: Inflationary Implication of Gold Price in Vietnam (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2013-20

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