HOW DO FISCAL-MONETARY POLICIES AFFECT ECONOMIC GROWTH? THE CASE OF VIETNAM

Le Tung

No nhfqg, OSF Preprints from Center for Open Science

Abstract: Tis study investigates the mixed impact of fscal-monetary policies on economic growth in Vietnam, an emerging economy in the Asia-Pacifc region. Te Vector autoregressive method (VAR), a quantitative technique, is employed on a quarterly database collected in 2004–2018. Te cointegration test indicates a long-term cointegration relationship between these macroeconomic policies and the growth of gross output. Te variance decomposition and impulse response function conclude that the impacts of these policies on economic growth are quite weak and faint. However, our results indicate that monetary policy is more signifcant than fscal policy in supporting economic growth. Te results imply that these economic policies may give priority to other macroeconomic objectives instead of promoting economic growth in the studied period. Hence, policymakers need to have more solutions to improve the efciency of these policies in Vietnam in the future.

Date: 2022-09-04
New Economics Papers: this item is included in nep-cba, nep-fdg, nep-mon and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:nhfqg

DOI: 10.31219/osf.io/nhfqg

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