DOI:

Abstract

In recent months, many leading financial institutions in the U.S. and Europe have gone bankrupt, got acquired and waited for governmental rescue. The global financial crisis affected seriously these economies, which led to predictions of a much lower growth rate. This situation affects Vietnam to a certain extent. With lessons from the 1997 Asian financial crisis, Vietnam should estimate exactly effects of the financial crisis in order to work out possible scenarios and suitable solutions, thereby minimizing unfavorable impacts and making the best use of opportunities if any. This article examines items of the balance of payments in order to identify effects of the global financial crisis because this balance reflects all transactions between Vietnam and the world. These items are numerous, such as export, import, immigrant remittance, direct investment, indirect investment and foreign debt, etc, this article, however, limits itself to export, import, immigrant remittance, direct investment, and indirect investment; and doesn’t examine the ODA and foreign debt because these flows of capital are realized according to agreements between governments

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