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Filipino Management Style

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EAST ASIAN DEVELOPMENT NETWORK (EADN)
INDIVIDUAL RESEARCH PROJECT

EXCHANGE RATE ARRANGEMENT IN VIETNAM:
INFORMATION CONTENT AND POLICY OPTIONS
Research team∗ :
Vo Tri Thanh (principal researcher)
Dinh Hien Minh
Do Xuan Truong
Hoang Van Thanh
Pham Chi Quang

HANOI
December 2000


We would like to thank the EADN for financial support. We have benefited very much from the valuable comments from EADN on our interim report. We also thank Dr. Ivo Havinga, Dr. Perter Sturm, and Ms.
Anna Lennblad for reviewing our drafts and providing valuable insight comments. In carrying out the research we have owed debts to the General Statistic Office and the State Bank of Vietnam, which provided us with data and inspiration. Finally research assistance by Do Chu Dat and Do Thi Thu Huong is highly acknowledged. Table of Contents
Table of Contents
List of Tables
List of Figures
Abbreviation
Summary
Chapter I
Introduction
Chapter II
The Economic Reforms and the Exchange Rate Arrangement since 1989
II.1
An Overview of the Economic Renovation and the Financial Reforms during the period of 1989-1999
II.1.1
The Economic Renovation (Doimoi)
II.1.2
Financial Sector Reforms and Monetary Instruments
II.2
Exchange Rate Arrangement during the Period of 1989-1999
Chapter III Exchange Rate as a Policy Tool during the Economic Reform, 1989-1999
III.1
Exchange Rate and Inflation
III.2
Exchange Rate and Economic Growth
III.3
Exchange Rate and Money Supply
Chapter IV The Changes in Output, Prices and Money, and Information Content of
Monetary Aggregates and Exchange Rates
IV.1
Information Content and Model Specifications
IV.2
Estimation Results and Interpretation
IV.2.1
The Conventional VAR Models
IV.2.2
The VAR Models with Error Correction Terms from Co-integrations
Chapter V
The Impacts of The Changes in the Exchange Rate on Output Growth…...

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