Please use this identifier to cite or link to this item: https://dspace.ctu.edu.vn/jspui/handle/123456789/67054
Title: Entrepreneurship and credit crunch in Vietnam: A recurring reality?
Authors: BOISMERY, Hervé B.
Keywords: Credit crunch
Iterest rates
Exchange rates
Monetary policy
Firms investments
Dollarization
Asian countries
Vietnam
Issue Date: 2020
Series/Report no.: Journal of Trade science;No. 137+138 .- P.119-132
Abstract: This paper examines whether and to what extent the Vietnamese economy have been suffering and is still suffering from a credit crunch in the context of its dynamic growth. The paper employs a systematic framework in the tradition of the credit view literature to assess the occurrence and the magnitude of the credit crunch considered like a major obstacle to the development of an endogenous entrepreneurship in Vietnam By using a consistent approach based on several topics (interest rates, exchange rate, dollarization, monetary policy), the paper goes beyond macroeconomic indicators and anecdotal evidence. The framework also allows assessing how the credit crunch affects differently across the various sectors of the economy. The main results of the study show that the credit crunch is a widespread and permanent reality in Vietnam and its negative impact affects particularly the profitability of enterprises’ productive investments Furthermore, a protracted and heavy reliance on tight monetary policy, entailing high real interest rates, appears inappropriate for restoring a long-term market confidence. Therefore, it would be desirable to consider alternative policy instruments aiming new paradigms and that do not place further stress on the banking sector and on its lending to the corporate sector.
URI: https://dspace.ctu.edu.vn/jspui/handle/123456789/67054
ISSN: 1859-3666
Appears in Collections:Khoa học Thương mại (Journal of Trade science)

Files in This Item:
File Description SizeFormat 
_file_
  Restricted Access
252.58 kBAdobe PDF
Your IP: 3.238.62.119


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.