Fiscal and Monetary Policy Affecting Economic Growth: A Case Study of Vietnam

Vietnam's economy in 2022 takes place in the context of the world economy having many rapid changes; the war between Russia and Ukraine is unpredictable, increasing risks to the financial market, currency, energy security, security, and global food. With the determination to recover and develop...

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Bibliographic Details
Published in:Montenegrin journal of economics 2024-07, Vol.20 (3), p.203-214
Main Authors: Nga, Lu Phi, Tam, Phan Thanh
Format: Article
Language:English
Subjects:
Budget deficits
Economic activity
Economic conditions
Economic growth
Fiscal policy
GDP
GNI
GNP
Government spending
Gross Domestic Product
Gross National Income
Gross National Product
Growth rate
Hypotheses
Inflation
Macroeconomics
Monetary policy
Per capita
Public services
Quality of service
Recessions
Sampling
Security
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Summary:Vietnam's economy in 2022 takes place in the context of the world economy having many rapid changes; the war between Russia and Ukraine is unpredictable, increasing risks to the financial market, currency, energy security, security, and global food. With the determination to recover and develop the economy, creating momentum to fulfill the socio-economic goals of 2023 and the period of 2021 - 2025. Therefore, the study aims to identify the key factors affecting economic growth and provide policy implications for shortand long-term economic growth. Research methods: the author conducts formal research in major cities, Ho Chi Minh City, Can Tho, Da Nang, Hai Phong, and Hanoi. The subjects of the survey to collect data are economic experts. The information collection method is a direct interview through a prepared questionnaire, sample size n = 450 economic experts: probability fee sampling method, random sampling technique for evaluation. After collecting data, it is put into coding, data entry, cleaning, and data analysis using SPSS version 20.0, Amos software. The paper finds five factors affecting economic growth with a significance level of 0.01, and five hypotheses are accepted. The article's value has the fiscal and monetary policy's most substantial impact on economic growth in Vietnam. Finally, research results help operating agencies need to strengthen their forecasting ability and proactively develop scenarios with response actions. Once the policy system has been designed, there will be an adaptive, non-passive plan with timely policies; corresponding to each approach will be appropriate policies. Thereby minimizing policy delay, shortening the time from policy discussion to policy issuance, and creating a quick response to the economy to contribute to economic growth.
ISSN:1800-5845
1800-6698
DOI:10.14254/1800-5845/2024.20-3.15