Exchange Rate Policy in Vietnam, 1985-2008

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Title Exchange Rate Policy in Vietnam, 1985-2008
Author Nguyen, Tran Phuc; Nguyen, Tom
Journal Name ASEAN Economic Bulletin
Year Published 2009
Place of publication Singapore
Publisher Institute of Southeast Asian Studies
Abstract In this paper we provide a review and synthesis of some of the available information and data regarding Vietnam’s exchange rate regime, as well as an analysis of whether, and to what extent, the conduct of exchange rate policy has been consistent with a number of possible key policy objectives. To facilitate the analysis, annual and monthly data are compiled for both the nominal and real effective exchange rates (NEER and REER). The analysis suggests that the authorities have tended to place special emphasis on maintaining stability in the nominal, bilateral VND/USD exchange rate. As a consequence, there have been periods when the REER appreciated, indicating losses in international competitiveness. The official exchange rate’s stability has also acted as a retardant in the development of the country’s foreign exchange market. It appears that this stability has been neither necessary nor sufficient for inflation control.
Peer Reviewed Yes
Published Yes
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Copyright Statement Copyright 2009 Institute of Southeast Asian Studies. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Volume 26
Issue Number 2
Page from 137
Page to 163
ISSN 0217-4472
Date Accessioned 2010-03-05
Language en_US
Faculty Griffith Business School
Subject Financial Economics
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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