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The 2003 Merged Model for Vietnam

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  • Jensen, Henning Tarp
  • Tarp, Finn

Abstract

This paper documents the 2003 Merged Model for Vietnam. The initialization and calibration of the model is based on a financial 2003 SAM framework and an auxiliary 2002-3 data set. The recursive nature of the solution of the Merged Model is discussed with reference to the four main sectors of the model, including (i) the goods market and private sector budget, (ii) the government budget, (iii) the money market, and (iv) the balance of payments, and the initialization and solution of individual (exogenous and endogenous) variables is outlined. In addition, the calibration of parameter values is presented and the validity of the calibrated model parameters for the creation of future economic projections is discussed with reference to historical time series data. Similarly, benchmark growth paths for the four (intermediate target) focal variables, including real government consumption, government domestic credit, private domestic credit, and private net foreign debt, are discussed with reference to historical time series data. Accordingly, the current monograph facilitates the future implementation of the Merged Model for Vietnam by going through the main considerations necessary for the implementation of the projection tool, and the subsequent evaluation of the economic projections on the basis of the focal variable growth paths.

Suggested Citation

  • Jensen, Henning Tarp & Tarp, Finn, 2006. "The 2003 Merged Model for Vietnam," MPRA Paper 29793, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:29793
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    References listed on IDEAS

    as
    1. Brixen, Peter & Tarp, Finn, 1996. "South Africa: Macroeconomic perspectives for the medium term," World Development, Elsevier, vol. 24(6), pages 989-1001, June.
    2. Tarp, Finn & Arndt, Channing & Jensen, Henning Tarp & Robinson, Sherman & Heltberg, Rasmus, 2002. "Facing the development challenge in Mozambique: an economywide perspective," Research reports 126, International Food Policy Research Institute (IFPRI).
    3. Jensen, Henning Tarp & Tarp, Finn, 2006. "A Bank-Fund projection framework with CGE features," Journal of Policy Modeling, Elsevier, vol. 28(2), pages 103-132, February.
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    Cited by:

    1. Jensen, Henning Tarp & Tarp, Finn, 2006. "The Vietnamese Socio-economic Development Plan Revisited: Application of the 2003 Merged Model for Vietnam," MPRA Paper 29821, University Library of Munich, Germany.

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    More about this item

    Keywords

    Vietnam; SAM;

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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