POLICY PAPER
Enhancing Vietnam’s Financial Sector: Insights from the New Institutional Economics Perspective

01.08.2023

1.5 Minutes

Vietnamese

Bugra Kilinc

PP: Enhancing Vietnam’s Financial Sector

ABOUT THE PUBLICATION

Vietnam's dynamic and rapidly growing economy has earned it a place among the world's fastest growing countries. The transformative journey began with market-oriented reforms in 1986, known as Đổi mới, and subsequent integration into international trade. Despite significant economic developments, the Vietnamese financial market (still) faces challenges, including the lack of an internationally relevant financial market and currently high default rates in the corporate bond market. An important factor contributing to this situation is (legal) institutional factors. This policy paper reviews Vietnam's financial market as well as legal institutions to examine how institutional deficiencies have contributed to the current financial market turmoil.

ABOUT THE AUTHOR

Bugra Kilinc is currently a Junior Researcher at the Friedrich Naumann Foundation for Freedom Office in Hanoi, Vietnam, particularly involved in fields related to risk management, real estate and bond markets, and sustainable development in developing and emerging markets.