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Operating the impossible trinity before and after the global financial crisis 2007-2008: evidence in Vietnam

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  • Thuy Tien Ho
  • Thu Hoai Ho

Abstract

This paper focuses on analysing the changes in the impossible trinity administration in Vietnam before and after the global financial crisis 2007-2008. Using the indices representing the impossible trinity, including MI, ERS, and FO, as well as the regression models based on the ARDL method, the authors found that during the study period, the Vietnamese government had selected the exchange rate stability on the list of priorities. The combination with another goal in the impossible trinity, however, changed over two phases. In the period before the crisis, the financial integration was more focused while in the period after the financial crisis, the goal of monetary independence received greater attention. We also discovered that the Vietnamese government was likely to regulate the impossible trinity policies under the intermediary regime that showed the indicators of the impossible trinity with the value approaching 0.5.

Suggested Citation

  • Thuy Tien Ho & Thu Hoai Ho, 2018. "Operating the impossible trinity before and after the global financial crisis 2007-2008: evidence in Vietnam," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 11(1/2), pages 40-49.
    • Handle: RePEc:ids:ijtrgm:v:11:y:2018:i:1/2:p:40-49
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    Cited by:

    1. Van Dan Dang, 2020. "Bank funding and liquidity in an emerging market," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 13(3), pages 256-272.
    2. Viet‐Ngu Hoang & Duc Khuong Nguyen & Tuan Pham, 2021. "On the effects of monetary policy in Vietnam: Evidence from a Trilemma analysis," The World Economy, Wiley Blackwell, vol. 44(5), pages 1428-1447, May.
    3. Bonga-Bonga, Lumengo, 2024. "Assessing the impossible trinity principle in BRICS grouping," MPRA Paper 121839, University Library of Munich, Germany.

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