Authors :
Sashya Siddhartha
Volume/Issue :
Volume 9 - 2024, Issue 8 - August
Google Scholar :
https://tinyurl.com/66tcua3r
Scribd :
https://tinyurl.com/3mckyutc
DOI :
https://doi.org/10.38124/ijisrt/IJISRT24AUG1434
Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.
Abstract :
Vietnam, a one-party socialist republic, has
undergone significant economic transformation since the
lifting of U.S. sanctions in 1986. Transitioning from a
closed, agrarian economy to a market-oriented system,
the country has achieved notable progress, advancing
from one of the poorest nations to a lower-middle-income
status. Despite this progress, Vietnam faces several
macroeconomic challenges including high inflation, a
depreciating currency, and a growing trade deficit. The
COVID-19 pandemic has exacerbated these issues,
leading to disruptions in business activity, supply chains,
and economic instability. Additionally, severe air
pollution presents a pressing concern for public health
and economic productivity. This paper examines
Vietnam's current macroeconomic challenges, evaluates
the impact of recent economic disruptions, and proposes
policy recommendations to address these issues.
Recommendations include increased health spending,
structural reforms to enhance green growth, and
monetary policies aimed at controlling inflation and
encouraging investment. The analysis highlights the need
for a balanced approach to sustain economic progress
while addressing critical challenges.
References :
- IMF. (2022). Retrieved from [IMF Website](https://www.imf.org/en/News/Articles/2022/04/21/pr22127-vietnam-imf-staff-completes-2022-article-iv-mission-to-vietnam).
- Dapice, D. (2022). Prospects and challenges for Vietnam’s economy in 2022. *East Asia Forum*. Retrieved from [East Asia Forum](https://www.eastasiaforum.org/2022/02/11/prospects-and-challenges-for-vietnams-economy-in-2022/).
- Global Asia. (2022). Doi Moi and the Remaking of Vietnam. Retrieved from [Global Asia](https://www.globalasia.org/v4no3/cover/doi-moi-and-the-remaking-of-vietnam_hong-anh-tuan).
- Firmani, M. (2022). Data and statistics. *General Statistics Office of Vietnam*. Retrieved from [General Statistics Office of Vietnam](https://www.gso.gov.vn/en/data-and-statistics/).
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- Kempa, B. (2005). Exchange Rate Disconnect in a Standard Open-Economy Macro Model. *Open Economies Review*, 16(3), 283-293.
- Kireyev, A., & Ferrer, J. (2021). Economic policies in a pandemic. *Journal Of The New Economic Association*, 49(1), 185-192.
- Martínez Chávez, E. (2017). *Fernando Cadalso y la reforma penitenciaria en España (1883-1939)*. Madrid: Universidad Carlos III de Madrid.
- Nguyen Thi, T., et al. (2021). Knowledge, practices of food safety of establishment owners. *Heavy Metals And Arsenic Concentrations In Water, Agricultural Soil, And Rice In Ngan Son District, Bac Kan Province, Vietnam*, 4(4), 259-265.
- Spaulding, W. (2022). Economic Models: Aggregate Supply and Aggregate Demand. Retrieved from [Thismatter.com](https://thismatter.com/economics/ad-as-economic-models.htm).
- CEIC Data. (2022). Vietnam Current Account Balance, 1996 – 2022. Retrieved from [CEIC Data](https://www.ceicdata.com/en/indicator/vietnam/current-account-balance).
- VOA. (2022). Vietnam's Economic Problems Driven by Unchecked Growth. Retrieved from [VOA](https://www.voanews.com/a/vietnams-economic-problems-driven-by-unchecked-growth-112594804/132877.html).
- WorldNewsEra. (2022). Why Is The Vietnam Currency Low? Retrieved from [WorldNewsEra](https://worldnewsera.com/news/finance/why-is-the-vietnam-currency-is-low/).
Vietnam, a one-party socialist republic, has
undergone significant economic transformation since the
lifting of U.S. sanctions in 1986. Transitioning from a
closed, agrarian economy to a market-oriented system,
the country has achieved notable progress, advancing
from one of the poorest nations to a lower-middle-income
status. Despite this progress, Vietnam faces several
macroeconomic challenges including high inflation, a
depreciating currency, and a growing trade deficit. The
COVID-19 pandemic has exacerbated these issues,
leading to disruptions in business activity, supply chains,
and economic instability. Additionally, severe air
pollution presents a pressing concern for public health
and economic productivity. This paper examines
Vietnam's current macroeconomic challenges, evaluates
the impact of recent economic disruptions, and proposes
policy recommendations to address these issues.
Recommendations include increased health spending,
structural reforms to enhance green growth, and
monetary policies aimed at controlling inflation and
encouraging investment. The analysis highlights the need
for a balanced approach to sustain economic progress
while addressing critical challenges.