The main objective for the Vietnamese economy in the coming years is to maintain macroeconomic stability and existing growth rate. In this paper, we try to analyze and estimate implementation of main goals to provide a panorama of the Vietnamese economy in 2010. We find that it recovered and regained momentum in 2010 but it still faces characteristic macroeconomic instabilities. By providing some predictions of its prospect from 2011 onwards and clarifying characteristics of its macroeconomic instabilities, we offer some policy suggestions that aim at improving the situation and accelerating a sustainable economic growth.
Restructuring of public investment in the context of innovation of development model and economic structure is one of important tasks set for the five-year socioeconomic development plan 2011 – 2015. This paper presents three problems examined in the systematic relation between public investment and other policies within the public finance: (1) Budget overspend and public debt; (2) Public investment and operations of finance market; and (3) Restructuring of the public sector as an instrument for dealing with negative effects from the market. As a conclusion, the author offers suggestions about the successful and effective restructuring of public investment in future.
This study examines the wage differentials between migrant and non-migrant workers. Based on data from Vietnam Migration Survey in 2004, earnings equations with and without Instrumental Variable (IV) are estimated for migrant workers and non-migrant workers. From these results, the study compares the wage structure for migrant workers and non-migrant workers. Oaxaca decomposition of the wage differentials of the two groups workers are carried out. Results, which are controlled for observed characteristics and selection bias, indicate some main points. The wage differentials between non-migrant and migrant workers are mostly due to the difference in structural factors. Besides, there are differences in endowment factors.
"The article begins with a description of the basic functionality of government bonds. The most important attributes of bonds and their appraisal are described by means of present value. A number of simplifications will be carried out (e.g. assumptions of final date yields and a flat yield curve). In practice, however, flat yield curves are not typical. Although taking normal yield curves into consideration would not pose a problem in terms of method, it would be unnecessary for a demonstration of the central problems and would also extend and complicate it unnecessarily. This is very similar in the case of assumptions of final date yields. By means of an assessment of bonds on international capital markets the second part of the article deals with the consequences and outcomes for the Greek government. This is followed by a short description of the EU bailout measures. After this, a thesis as to the winners and losers of the Greek crisis follows. Finally, from the crisis in Greece, a number of recommendations for action can be
derived for Vietnam."
This paper is to investigate the fitness of the Fama and French three-factor model in the HCMC Stock Exchange (HOSE) over the period 2007-2009. The results have proven that this model is more superior to the capital asset pricing model (CAPM) when explaining changes in the total risk premium or the return on equity in HOSE; yet it is not to veto that CAPM is not an effective tool to analyze the total risk premium or the return on equity, which is not only affected objectively by the market forces but also subjectively by features of listed companies such as their size and value (the book-to-market ratio [BE/ME]). The results also figure out that the market factor out of three factors produces the biggest effect on the total risk premium of a stock. In other words, although investors in HOSE have attended to features of listed companies, it is kind of humble. Their investing decisions are mainly based on ups and downs of the market.