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Vietnam's Monetary Policy during the AFC

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  • Kirrane, Chris

Abstract

This paper examines Vietnam's exchange rate policy during the Asian financial crisis. It concludes that the policy of anchoring the Vietnamese Dong to the US dollar and controlled floating used by the Vietnamese monetary authorities since 1992, led to stabilisation of the exchange rate and controlled inflation during a period of rapid growth. It concludes that the risk of a financial crisis, experienced by other Southeast Asian countries was low, even if the country remained vulnerable to a currency crisis because of its current account deficit.

Suggested Citation

  • Kirrane, Chris, 2018. "Vietnam's Monetary Policy during the AFC," MPRA Paper 96461, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:96461
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    File URL: https://mpra.ub.uni-muenchen.de/96461/1/MPRA_paper_96461.pdf
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    References listed on IDEAS

    as
    1. Kirrane, Christopher, 2017. "Looking Back to the Asian Crisis," MPRA Paper 89104, University Library of Munich, Germany.
    2. Flood, Robert & Marion, Nancy, 1999. "Perspectives on the Recent Currency Crisis Literature," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 4(1), pages 1-26, January.
    3. repec:spo:wpmain:info:hdl:2441/2491 is not listed on IDEAS
    4. repec:spo:wpecon:info:hdl:2441/2491 is not listed on IDEAS
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    JEL classification:

    • F3 - International Economics - - International Finance
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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