Munich Personal RePEc Archive

Vietnam's Monetary Policy during the AFC

Kirrane, Chris (2018): Vietnam's Monetary Policy during the AFC. Published in: Asian Journal of Political Economy , Vol. 8, No. Winter (1 November 2018): pp. 203-215.

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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.

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