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Credit Misallocation and Economic Growth in Vietnam
by Mitsuru Katagiri

Series:Working Paper No. 19/189
ISBN 9781513511764
Code: #WPIEA2019189

Publication year: 2019

Cdn: $27.00; US: $25.00
Paperback
Language: English
22 pages
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The legacy of non-performing loans and high opportunity cost of government financing of bank recapitalization impeded the efficiency of financial intermediation and are an important policy issue in Vietnam. This paper presents a theoretical and empirical analysis of the issue. An empirical analysis using corporate data indicates credit misallocation between state owned enterprises and private firms in Vietnam. On the theoretical side, a micro-founded banking model is embedded in a political economy setting to assess the factors determining the size of bank recapitalization and its effects on the efficiency of financial intermediation, economic growth and welfare. The analysis suggests that recapitalization depends on an array of factors, including the tightness of the government budget and the decision maker’s concern for the favored sector.
Credit Misallocation and Economic Growth in Vietnam
Cdn: $27.00; US: $25.00
International Monetary Fund (IMF) BookID: 125759 Added: 2019.9.6