Journal of Economic Development
No. 188 , April 2010, Page 02-08


Adjustment To Fiscal Space For A Sustainable Development In Vietnam
SỬ ĐÌNH THÀNH

DOI:
Abstract
Vietnam has changed from a backward country to a middle-income nation. After the recent financial crisis and economic recession, Vietnam should adjust its fiscal space to accelerate economic transformation and prevent economic shocks. This paper discusses the fiscal space as an instrument for expanding the policy options for the government. By assessing elements and challenges presented in each factors of the four pillars of the FSD model (revenue, ODA, deficit financing, reprioritization and efficiency of public expenditure) we can have an overview on the role fiscal policy in realization of macroeconomic objectives of a country. With this model, we can identify endogenous and exogenous nature of various options in the fiscal space in order to draw policy conclusions.

Keywords
Fiscal Space; ODA; Revenue; Deficit Financing; Reprioritization And Efficiency Of Public Expenditures.
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