IDEAS home Printed from https://ideas.repec.org/a/mth/ber888/v16y2026i1p47-69.html

Enhancing The Governance Mechanism for Extra-budgetary Funds in Vietnam: A Modern Public Governance Approach

Author

Listed:
  • Vu Quoc Dung

Abstract

In the context of demanding enhanced efficiency and transparency within the public financial system, Extra-budgetary Funds (EBFs) are increasingly asserting a vital role in mobilizing, allocating, and utilizing resources for socio-economic development. However, the current management mechanism for these funds in Vietnam reveals several shortcomings, notably a structure that is fragmented and functionally overlapping, a lack of a centralized oversight mechanism, and a failure to fully meet modern public governance standards as recommended by the Organization for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF).This study focuses on analyzing the theoretical framework for EBFs management, assessing the current organizational and operational mechanism of non-budgetary funds in Vietnam during the 2020–2024 period, thereby identifying legal, financial control, and accountability deficiencies. Based on a comparison with international experiences (South Korea, Indonesia, OECD), we propose an orientation to perfect the fund management mechanism towards unification, transparency, and high accountability. Key solutions include- (i) perfecting the legal framework governing fund operations; (ii) applying the Public Financial Management System (PFMS) for revenue and expenditure monitoring; (iii) strengthening the auditing and supervisory role of the Ministry of Finance (MOF) and the State Audit Office of Vietnam (SAV); and (iv) promoting information disclosure and digital transformation in fund management. The research findings provide a reliable scientific basis for perfecting the public financial management institutional framework and enhancing the efficient use of public resources in Vietnam.

Suggested Citation

  • Vu Quoc Dung, 2026. "Enhancing The Governance Mechanism for Extra-budgetary Funds in Vietnam: A Modern Public Governance Approach," Business and Economic Research, Macrothink Institute, vol. 16(1), pages 47-69, December.
    • Handle: RePEc:mth:ber888:v:16:y:2026:i:1:p:47-69
    as

    Download full text from publisher

    File URL: https://www.macrothink.org/journal/index.php/ber/article/download/23447/17961
    Download Restriction: no
    File URL: https://www.macrothink.org/journal/index.php/ber/article/view/23447
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ahmed Belkaoui & Philip G. Karpik, 1989. "Determinants of the Corporate Decision to Disclose Social Information," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 2(1), pages 1-1, April.
    2. repec:eme:aaaj00:09513578910132240 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kalpana Tokas & Kartik Yadav, 2023. "Foreign Ownership and Corporate Social Responsibility: The Case of an Emerging Market," Global Business Review, International Management Institute, vol. 24(6), pages 1302-1325, December.
    2. Boguslawa Bek-Gaik & Anna Surowiec, 2024. "Usefulness of Non-Financial Information in Assessing the Company’s Economic and Financial Performance in Polish Practice," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 270-296.
    3. Sally Mohammed Farghaly Abdelaliem & Khalid M. Alharbi & Nadiah A. Baghdadi & Amer Malki, 2023. "Exploring the Impact of Private Companies’ Participation in Health-Related Programs through Corporate Sustainable Reporting," Sustainability, MDPI, vol. 15(7), pages 1-16, March.
    4. He, Jingbin & Ma, Xinru, 2023. "Is corporate social responsibility engagement influenced by nearby firms? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    5. Kaltenhauser, Samuel Jonas, 2023. "Determinants and Capital Market Consequences of Net Zero Targets," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(2), pages 404-430.
    6. Frédéric Distler, 2024. "The Testing of "Truth" As a Modality of Trust in Global Performance Measurement [La mise à l’épreuve de la « vérité » dans la mesure de la performance globale des entreprises]," Post-Print hal-04704567, HAL.
    7. Marco Ghitti & Gianfranco Gianfrate & Lorenza Palma, 2024. "The agency of greenwashing," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(3), pages 905-941, September.
    8. Hanna E. Czaja-Cieszyńska & Dominika Kordela, 2023. "Sustainability Reporting in Energy Companies—Is There a Link between Social Disclosures, the Experience and Market Value?," Energies, MDPI, vol. 16(9), pages 1-15, April.
    9. Ahmad Yuosef Alodat & Hamzeh Al Amosh & Osamah Alorayni & Saleh F. A. Khatib, 2024. "Does corporate sustainability disclosure mitigate earnings management: empirical evidence from Jordan," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 21(1), pages 165-174, March.
    10. Lopatta, Kerstin & Tideman, Sebastian A. & Scheil, Carolin & Makarem, Naser, 2023. "The current state of corporate human rights disclosure of the global top 500 business enterprises: Measurement and determinants," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 96(C).
    11. Yousra R. Obiedallah & Asmaa Hamdy Abdelaziz Mohamed El Mahdy, 2025. "Accounting conservatism and firm value in Egypt: the mediating role of tax avoidance," Future Business Journal, Springer, vol. 11(1), pages 1-15, December.
    12. Wenny Candra Mandagie & Kiandra Putri Susanto & Endri Endri & Arjuna Wiwaha, 2024. "Oil Price and Corporate Social Responsibility Disclosure (CSRD): Evidence from Indonesian Energy Companies," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 694-701, May.
    13. Chee Kwong Lau & Jia Ci Wong, 2023. "The integration of Sustainable Development Goals into businesses sustainability management: a reporting perspective," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(4), pages 490-505, December.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mth:ber888:v:16:y:2026:i:1:p:47-69. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Technical Support Office The email address of this maintainer does not seem to be valid anymore. Please ask Technical Support Office to update the entry or send us the correct address (email available below). General contact details of provider: http://www.macrothink.org/journal/index.php/ber .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.