TAILIEUCHUNG - Vietnam and threshold conditions in the process of global financial integration

This article takes into account a series of empirical framework typifying these threshold conditions, estimating essential ones and accordingly proposing a few policy implications. In contrast, the institutional quality threshold remains far distant. | 2 Nguyen Thi Ngoc Trang & Nguyen Thi Diem Kieu / Journal of Economic Development. 22(4), 02-25 Vietnam and Threshold Conditions in the Process of Global Financial Integration NGUYEN THI NGOC TRANG University of Economics HCMC – trangtcdn@ NGUYEN THI DIEM KIEU Mobile World Joint Stock Company – ARTICLE INFO ABSTRACT Article history: The global financial crisis, once again, has ignited several intense debates over financial globalization merits, particularly for developing countries. There are probably a number of initial threshold conditions to be attained before substantial benefits may be reaped, and the risks of capital account liberalization, minimized. This article takes into account a series of empirical framework typifying these threshold conditions, estimating essential ones and accordingly proposing a few policy implications. Empirical evidence demonstrates that there exist specific thresholds in such variables with significant effects on the nexus between financial integration and growth, including those as clearly identifiable as financial depth and institutional quality. It is also shown by the findings that Vietnam’s financial development has preliminarily satisfied the necessary conditions for efficient financial integration. In contrast, the institutional quality threshold remains far distant. Received: Apr. 01 2015 Received in revised form: May 13 2015 Accepted: Sep. 15 2015 Keywords: Threshold conditions, financial integration, financial development, growth, institution, capital account liberalization. Nguyen Thi Ngoc Trang & Nguyen Thi Diem Kieu / Journal of Economic Development. 22(4), 02-25 3 1. Introduction In recent years, especially after WTO accession, Vietnam has made a move toward greater integration into global market concerning both prescribed terms and the actual level of integration. Yet, the global financial crisis, once again, has ignited several intense debates over financial globalization

• Kinh tế học
• Threshold conditions
• Financial integration
• Financial development
• Economic growth
• Capital account liberalization
• Global financial
• BMC Musculoskeletal Disorders
• Work related musculoskeletal disorders
• Threshold limit value
• Technical measurements
• Trapezius activity
• Global finance
• Global financial management
• Lecture Global financial management
• Global valuation
• Capital budgeting
• Capital budgeting formulas
• Domestic capital budgeting
• Free cash flows
• Cost of capital
• COVID 19 pandemic trigger
• Global banking crisis
• Previous global financial crisis
• International financial banking system
• Global economy
• Global financial crisis
• Financial bubbl— global
• The Current recession
• The major financial crisis like Housing prices
• Global saving glut
• Crisis like Housing prices
• Managing country risk
• Country risk
• Country risk analysis
• Foreign exchange rate systems
• Exchange rates
• Benefits of systems
• Indirect prices
• Obtaining exchange rates
• Foreign exchange
• Foreign exchange risks
• Translation exposure
• Competitive exposure
• Real currency appreciation
• Retail foreign exchange transactions
• Debit transactions
• Retail bid