Impact of fiscal and monetary policy on economic growth in Vietnam

Le Tung

No b8729, OSF Preprints from Center for Open Science

Abstract: This paper uses the Johansen cointegration test and the Vector Error Correction Model (VECM) to study the impact of fiscal and monetary policy on economy growth in Vietnam during the period from quarter I/2004 to quarter II/2013. The results showed the cointegration relation between the macroeconomic policies and economic growth. Besides, the variance decomposition and impulse response functions from VECM model showed the impact of the two policies on economic growth were limited, in which the impact of the monetary policy on growth is greater than that of the fiscal policy on growth. Subsequently, the paper provides some recommendations to improve the efficiency of the implementation of these policies in Vietnam.

Date: 2014-05-05
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:b8729

DOI: 10.31219/osf.io/b8729

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