The Impact of the Economic Stimulus on Domestic, Private Enterprises
In the year 2008 and the first half of 2009, the world witnessed the unfolding and heavy repercussions of the global financial crisis which affected Vietnam, among others, through the reduction of investments inflow, lower global commodity prices and trade. The government of Vietnam has acted quickly with its stimulus package, including a 4% interest rate subsidy for enterprises with the objective of preventing the economy from falling further. While there are some anecdotal evidences about the effectiveness of the stimulus package, there is no systematic evidence of the impact of the stimulus package. This paper makes use of the PCI 2008 enterprise survey data, a unique dataset which is only recently made by available to investigate the impact of the 4% interest rate subsidy component of the stimulus package. We find strong statistical evidence that the 4% interest rate subsidy has positive and important impacts on the enterprises, easing the severe effects of the global crisis.
|Date of creation:||2011|
|Date of revision:|
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- Sumon Kumar Bhaumik & Klaus Meyer & Saul Estrin, 2004.
"Determinants of Employment Growth at MNEs: Evidence from Egypt, India, South Africa and Vietnam,"
William Davidson Institute Working Papers Series
2004-707, William Davidson Institute at the University of Michigan.
- Sumon Kumar Bhaumik & Saul Estrin & Klaus E Meyer, 2007. "Determinants of Employment Growth at MNEs: Evidence from Egypt, India, South Africa and Vietnam," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 49(1), pages 61-80, March.
- Bhaumik, Sumon K. & Estrin, Saul & Meyer, Klaus, 2004. "Determinants of Employment Growth at MNEs: Evidence from Egypt, India, South Africa and Vietnam," IZA Discussion Papers 1272, Institute for the Study of Labor (IZA).
- John Rand, 2004.
"Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing,"
05-01, University of Copenhagen. Department of Economics.
- John Rand, 2007. "‘Credit Constraints and Determinants of the Cost of Capital in Vietnamese Manufacturing’," Small Business Economics, Springer, vol. 29(1), pages 1-13, June.
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