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Credit Misallocation And Economic Growth In Vietnam
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Book Synopsis Credit Misallocation and Economic Growth in Vietnam by : Mitsuru Katagiri
Download or read book Credit Misallocation and Economic Growth in Vietnam written by Mitsuru Katagiri and published by International Monetary Fund. This book was released on 2019-09-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The legacy of non-performing loans and high opportunity cost of government financing of bank recapitalization impeded the efficiency of financial intermediation and are an important policy issue in Vietnam. This paper presents a theoretical and empirical analysis of the issue. An empirical analysis using corporate data indicates credit misallocation between state owned enterprises and private firms in Vietnam. On the theoretical side, a micro-founded banking model is embedded in a political economy setting to assess the factors determining the size of bank recapitalization and its effects on the efficiency of financial intermediation, economic growth and welfare. The analysis suggests that recapitalization depends on an array of factors, including the tightness of the government budget and the decision maker’s concern for the favored sector.
Book Synopsis Credit Misallocation and Economic Growth in Vietnam by : Mitsuru Katagiri
Download or read book Credit Misallocation and Economic Growth in Vietnam written by Mitsuru Katagiri and published by International Monetary Fund. This book was released on 2019-09-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The legacy of non-performing loans and high opportunity cost of government financing of bank recapitalization impeded the efficiency of financial intermediation and are an important policy issue in Vietnam. This paper presents a theoretical and empirical analysis of the issue. An empirical analysis using corporate data indicates credit misallocation between state owned enterprises and private firms in Vietnam. On the theoretical side, a micro-founded banking model is embedded in a political economy setting to assess the factors determining the size of bank recapitalization and its effects on the efficiency of financial intermediation, economic growth and welfare. The analysis suggests that recapitalization depends on an array of factors, including the tightness of the government budget and the decision maker’s concern for the favored sector.
Book Synopsis Credit Supply and Productivity Growth by : Francesco Manaresi
Download or read book Credit Supply and Productivity Growth written by Francesco Manaresi and published by International Monetary Fund. This book was released on 2019-05-17 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1498326803 Total Pages :94 pages Book Rating :4.4/5 (983 download)
Book Synopsis Vietnam by : International Monetary Fund. Asia and Pacific Dept
Download or read book Vietnam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2019-07-16 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Vietnam highlights that gradual fiscal consolidation, strict limits on government guarantees and robust growth in recent years have led to declining government debt, expected to continue under current policies. But while there is some fiscal space, fiscal needs are large, for infrastructure, social spending and to deal with population aging. The tightening of credit growth continued in 2018; however, liquidity remained ample, aided by the strong balance of payments and tight fiscal policies. The State Bank of Vietnam has initiated plans to modernize its monetary framework with IMF technical support. The authorities’ efforts to improve economic institutions and governance continue and the fight against grand corruption has resulted in significant sentences in recent high-profile cases. Improvements in transparency and statistical systems are underway, with support from the IMF and the Financial Action Task Force’s Asia Pacific Group.
Book Synopsis Economic Growth and Development by : Sibabrata Das
Download or read book Economic Growth and Development written by Sibabrata Das and published by Springer Nature. This book was released on with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis OECD Development Pathways Multi-dimensional Review of Viet Nam Towards an Integrated, Transparent and Sustainable Economy by : OECD
Download or read book OECD Development Pathways Multi-dimensional Review of Viet Nam Towards an Integrated, Transparent and Sustainable Economy written by OECD and published by OECD Publishing. This book was released on 2020-07-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the launch of the Ðổi Mới economic reforms in 1986, Viet Nam has achieved tremendous economic and social progress. Today, it is well integrated on global markets, has enjoyed robust growth, and has seen remarkable poverty reduction.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1484307577 Total Pages :33 pages Book Rating :4.4/5 (843 download)
Book Synopsis Vietnam by : International Monetary Fund. Asia and Pacific Dept
Download or read book Vietnam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2017-07-05 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes the impact of environment and climate change on Vietnam’s economic growth. Vietnam’s economy and population are expected to be increasingly affected by climate change. In addition, the country’s growth model—which permitted quick reduction of poverty—has been unsustainably relying on mining and natural resources. The level of air, land and water pollution has also increased in the country. Well aware of the critical challenges faced by the country, the government has undertaken numerous initiatives and programs to adapt the economy to climate change risks and transform the growth model to support an environmental-friendly economy, but significant challenges remain.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :151357048X Total Pages :95 pages Book Rating :4.5/5 (135 download)
Book Synopsis Vietnam by : International Monetary Fund. Asia and Pacific Dept
Download or read book Vietnam written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2021-03-01 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successful containment of COVID-19 and strong policy support have helped contain the health and economic fallout, and a strong recovery is underway. Growth in 2020 reached 2.9 percent, among the highest in the world. However, labor market conditions remain weak. Corporate balance sheets have worsened, potentially hampering private investment and job prospects. Banks entered the crisis in a stronger position than in previous years, but weaknesses remain. Vietnam’s economy remains heavily reliant on external trade and is vulnerable to trade tensions.
Book Synopsis Economic Growth and Employment in Vietnam by : David Lim
Download or read book Economic Growth and Employment in Vietnam written by David Lim and published by Routledge. This book was released on 2014-03-21 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vietnam has enjoyed significant economic success since the implementation of its "doi moi" reforms, including rapid growth in GDP, exports and foreign and domestic investment, and a shedding of poorly-performing state-owned enterprises. Despite this, however, the economic situation for many ordinary people in Vietnam is fragile, with income only just above the poverty line, and high unemployment, especially among the young. In addition, inflation is high, and the state-owned sector is still large, much of it still performing badly. This book provides a comprehensive overview of the current economic situation in Vietnam. It outlines the state of the economy, paying special attention to employment, discusses government policies including on trade and integration with the global economy, and concludes by assessing the key challenges facing Vietnam’s economy going forward.
Book Synopsis The Riskiness of Credit Allocation and Financial Stability by : Mr.Luis Brandao-Marques
Download or read book The Riskiness of Credit Allocation and Financial Stability written by Mr.Luis Brandao-Marques and published by International Monetary Fund. This book was released on 2019-09-27 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore empirically how the time-varying allocation of credit across firms with heterogeneous credit quality matters for financial stability outcomes. Using firm-level data for 55 countries over 1991-2016, we show that the riskiness of credit allocation, captured by Greenwood and Hanson (2013)’s ISS indicator, helps predict downside risks to GDP growth and systemic banking crises, two to three years ahead. Our analysis indicates that the riskiness of credit allocation is both a measure of corporate vulnerability and of investor sentiment. Economic forecasters wrongly predict a positive association between the riskiness of credit allocation and future growth, suggesting a flawed expectations process.
Book Synopsis Resource Misallocation Among Listed Firms in China: The Evolving Role of State-Owned Enterprises by : Ms. Emilia M Jurzyk
Download or read book Resource Misallocation Among Listed Firms in China: The Evolving Role of State-Owned Enterprises written by Ms. Emilia M Jurzyk and published by International Monetary Fund. This book was released on 2021-03-12 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document that publicly listed Chinese state-owned enterprises (SOEs) are less productive and profitable than publicly listed firms in which the state has no ownership stake. In particular, Chinese listed SOEs are more capital intensive and have a lower average product of capital than non-SOEs. These productivity differences increased between 2002 and 2009, and remain sizeable in 2019. Using a heterogeneous firm model of resource misallocation, we find that there are large potential productivity gains from reforms which could equalize the marginal products of listed SOEs and listed non-SOEs.
Book Synopsis The Economy and Business Environment of Vietnam by : Roderick Macdonald
Download or read book The Economy and Business Environment of Vietnam written by Roderick Macdonald and published by Springer Nature. This book was released on 2020-08-17 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot provides an introduction to the economy and business environment of Vietnam, a member of the ASEAN Economic Community whose economy is rapidly growing. The introduction argues that though there may be perceived disadvantages in investing in Vietnam, there are a number of benefits as well, such as the country's openness to trade and foreign direct investment, the increasing ease of doing business there and the dynamism of the economy. The book then provides an overview of Vietnam's economic policy since 1975, covering reunification, attempts at a command economy, and finally renovation under Doi Moi Policy. Further chapters cover the expansion of the private sector, interest in foreign investment, and the peculiarities of marketing and finance in Vietnam. As an edited volume with chapters written by Vietnamese scholars across economics, history, and business, this book is critical reading for researchers studying Vietnam and other Asian economies and for businesses interested in expanding into that market.
Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens
Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Vietnam written by International Monetary and published by International Monetary Fund. This book was released on 2022-07-05 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spurred by an impressive vaccination drive, the economy is rebounding from a severe pandemic wave. The government successfully maintained fiscal, external, and financial stability. Nonetheless, the labor market recovery is lagging, with sizeable underemployment, small and medium sized enterprises remain vulnerable, problem loans are rising, real estate and corporate bond market risks are elevated, and the pandemic exacerbated longstanding structural challenges.
Book Synopsis Micro, Small, and Medium Enterprises in Vietnam by : John Rand
Download or read book Micro, Small, and Medium Enterprises in Vietnam written by John Rand and published by Oxford University Press. This book was released on 2020 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 3.0 IGO licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Micro, Small, and Medium Enterprises in Vietnam provides a comprehensive analytic contribution to a crucial topic within development economics. Based on fifteen years of continued data collection and research efforts it brings together nine up-to-date studies on micro, small, and medium enterprise (SME) development in a coherent framework to help persuade national and international policymakers of the need to take the international call for a data revolution seriously. This edited volume provides an in-depth evaluation of the development of private sector formal and informal manufacturing SMEs in Vietnam over the past decade, combining a unique primary data source with the best panel data and analytical tools available. It generates a comprehensive understanding of the impact of business risks, credit access, institutional characteristics, and government policies, and makes available a set of materials and studies of use to academics, students, and development practitioners interested in an integrated approach to the study of growth, private sector development, and the microeconomic analysis of SME development in a fascinating developing country. Micro, Small, and Medium Enterprises in Vietnam serves as a lense through which other countries, and the international development community at large, may wish to approach the massive task of pursuing a meaningful data revolution as an integral element of the Sustainable Development Goals agenda.
Book Synopsis The Long Shadow of Informality by : Franziska Ohnsorge
Download or read book The Long Shadow of Informality written by Franziska Ohnsorge and published by World Bank Publications. This book was released on 2022-02-09 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
