Mối quan hệ giữa độ sâu tài chính và tăng trưởng kinh tế tại Việt Nam
Nội dung chính của bài viết
Tóm tắt
Bài viết này nghiên cứu mối quan hệ giữa độ sâu tài chính và tăng trưởng kinh tế tại Việt Nam, bằng cách sử dụng dữ liệu chuỗi thời gian trong giai đoạn từ quý 1 năm 2000 đến quý 1 năm 2020. Sử dụng mô hình VAR để xem xét mối quan hệ nhân quả của các biến tăng trưởng kinh tế, tăng trưởng cung tiền mở rộng, yêu cầu vốn khu vực tư nhân và tín dụng nội địa do ngân hàng cung cấp và chỉ số giá thị trường tài chính. Kết quả của nghiên cứu này chỉ ra mối quan hệ giữa độ sâu tài chính và tăng trưởng kinh tế trong ngắn hạn và mức độ tác động giữa các biến kéo dài sau đó. Các khuyến nghị chính sách bao gồm thúc đẩy phát triển ngành tài chính lớn hơn và chú trọng đến hiệu quả của các chính sách tài chính.
Chi tiết bài viết
Từ khóa
Độ sâu tài chính, Tăng trưởng kinh tế, VAR, Việt Nam
Tài liệu tham khảo
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Berkes, M. E., Panizza, U., & Arcand, M. J. L. (2012). Too much finance?(No. 12–161). International Monetary Fund.
Ardic, O. P., & Damar, H. E. (2006). Financial Sector Deepening and Economic Growth: Evidence from Turkey. Topics in Middle Eastern and North African Economies, 9, 1-25. https://mpra.ub.uni-muenchen.de/id/eprint/4077.
Barro, R.J., & Sala-i-Martin, X., (1995). Economic Growth. McGraw Hill, New York.
Borensztein, M. E., & Loungani, M. P. (2011). Asian financial integration: Trends and interruptions. International Monetary Fund..
Sims, C. A. (1980). Macroeconomics and Reality. Econometrica, 48(1), 1-48.
Demirguc-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring financial inclusion and the fintech revolution. World Bank Publications.. Truy xuất từ https://doi.org/10.1596/978-1-4648-1259-0.
Estrada, G. B., Park, D., & Ramayandi, A. (2010). Financial development and economic growth in developing Asia. Asian Development Bank Economics Working Paper, (233). Truy xuất từ https://www.adb.org/sites/default/files/publication/28277/economics-wp233.pdf
Granger, C. W., & Newbold, P. (1974). Spurious regressions in econometrics. Journal of econometrics, 2(2), 111-120.
Henry, P. B. (2007). Capital account liberalization: Theory, evidence, and speculation. Journal of economic Literature, 45(4), 887-935.
Isiaka, A., Isiaka, A., Isiaka, A., & Adenubi, O. (2021). What is the impact of financial depth on economic growth within middle income countries?. International Journal of Research in Business and Social Science (2147-4478), 10(1), 122-130.
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Levine, R. (2005). Finance and growth: theory and evidence. Handbook of economic growth, 1, 865-934. DOI: 10.1016/S1574-0684(05)01012-9
Le, Q., Ho, H., & Vu, T. (2019). Financial depth and economic growth: Empirical evidence from ASEAN+ 3 countries. Management Science Letters, 9(6), 851-864.
Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42. https://doi.org/10.1016/0304-3932(88)90168-7
Lucas, R. E. (1990). Why doesn't capital flow from rich to poor countries?. The American economic review, 80(2), 92-96.
Mirdala, R., Svrceková, A., & Semancıková, J. (2015). On the relationship between financial integration, financial liberalization and macroeconomic volatility. MPRA Paper, 10(4), 552-570..
Al-Moulani, A., & Alexiou, C. (2017). Banking sector depth and economic growth nexus: a comparative study between the natural resource-based and the rest of the world’s economies. International Review of Applied Economics, 31(5), 625-650.
Moosa, I. A. (2018). Does financialization retard growth? Time series and cross-sectional evidence. Applied Economics, 50(31), 3405-3415.
Próchniak, M., & Wasiak, K. (2016). The impact of macroeconomic performance on the stability of financial system in the EU countries. Collegium of Economic Analysis Annals, (41), 145-160.
Ramsey, F. P. (1928). A mathematical theory of saving. The economic journal, 38(152), 543-559.
Robinson, J. (1979). The generalisation of the general theory. In The Generalisation of the General Theory and Other Essays (pp. 1-76). Palgrave Macmillan, London.
Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.
Tyson, J., & McKinley, T. (2014). Financialization and the Developing world: Mapping the Issues. Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
Wei, S. J. (2006). Connecting two views on financial globalization: Can we make further progress?. Journal of the Japanese and International Economies, 20(4), 459-481.
Berkes, M. E., Panizza, U., & Arcand, M. J. L. (2012). Too much finance?(No. 12–161). International Monetary Fund.
Ardic, O. P., & Damar, H. E. (2006). Financial Sector Deepening and Economic Growth: Evidence from Turkey. Topics in Middle Eastern and North African Economies, 9, 1-25. https://mpra.ub.uni-muenchen.de/id/eprint/4077.
Barro, R.J., & Sala-i-Martin, X., (1995). Economic Growth. McGraw Hill, New York.
Borensztein, M. E., & Loungani, M. P. (2011). Asian financial integration: Trends and interruptions. International Monetary Fund..
Sims, C. A. (1980). Macroeconomics and Reality. Econometrica, 48(1), 1-48.
Demirguc-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring financial inclusion and the fintech revolution. World Bank Publications.. Truy xuất từ https://doi.org/10.1596/978-1-4648-1259-0.
Estrada, G. B., Park, D., & Ramayandi, A. (2010). Financial development and economic growth in developing Asia. Asian Development Bank Economics Working Paper, (233). Truy xuất từ https://www.adb.org/sites/default/files/publication/28277/economics-wp233.pdf
Granger, C. W., & Newbold, P. (1974). Spurious regressions in econometrics. Journal of econometrics, 2(2), 111-120.
Henry, P. B. (2007). Capital account liberalization: Theory, evidence, and speculation. Journal of economic Literature, 45(4), 887-935.
Isiaka, A., Isiaka, A., Isiaka, A., & Adenubi, O. (2021). What is the impact of financial depth on economic growth within middle income countries?. International Journal of Research in Business and Social Science (2147-4478), 10(1), 122-130.
Levine, R. (1997). Financial development and economic growth: views and agenda. Journal of economic literature, 35(2), 688-726.
Levine, R. (2005). Finance and growth: theory and evidence. Handbook of economic growth, 1, 865-934. DOI: 10.1016/S1574-0684(05)01012-9
Le, Q., Ho, H., & Vu, T. (2019). Financial depth and economic growth: Empirical evidence from ASEAN+ 3 countries. Management Science Letters, 9(6), 851-864.
Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of monetary economics, 22(1), 3-42. https://doi.org/10.1016/0304-3932(88)90168-7
Lucas, R. E. (1990). Why doesn't capital flow from rich to poor countries?. The American economic review, 80(2), 92-96.
Mirdala, R., Svrceková, A., & Semancıková, J. (2015). On the relationship between financial integration, financial liberalization and macroeconomic volatility. MPRA Paper, 10(4), 552-570..
Al-Moulani, A., & Alexiou, C. (2017). Banking sector depth and economic growth nexus: a comparative study between the natural resource-based and the rest of the world’s economies. International Review of Applied Economics, 31(5), 625-650.
Moosa, I. A. (2018). Does financialization retard growth? Time series and cross-sectional evidence. Applied Economics, 50(31), 3405-3415.
Próchniak, M., & Wasiak, K. (2016). The impact of macroeconomic performance on the stability of financial system in the EU countries. Collegium of Economic Analysis Annals, (41), 145-160.
Ramsey, F. P. (1928). A mathematical theory of saving. The economic journal, 38(152), 543-559.
Robinson, J. (1979). The generalisation of the general theory. In The Generalisation of the General Theory and Other Essays (pp. 1-76). Palgrave Macmillan, London.
Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.
Tyson, J., & McKinley, T. (2014). Financialization and the Developing world: Mapping the Issues. Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
Wei, S. J. (2006). Connecting two views on financial globalization: Can we make further progress?. Journal of the Japanese and International Economies, 20(4), 459-481.
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