Economic growth and macroeconomic stability of Vietnam in the 2001 - 2023 period

Tóm tắt

This article shows the development of Vietnam’s economic growth in the period 2001-2023 and the relationship between economic growth and variables measuring macroeconomic stability, including the inflation rate - an important indicator in evaluating the level of macroeconomic stability and the trade balance and budget balance - two other major indicators in the economy. Studies using econometric models for data sets of many countries have shown an inverse relationship between the inflation rate and economic growth or that if the inflation rate exceeds a certain threshold, inflation will adversely affect economic growth. Using the descriptive statistics method for Vietnam’s data for the period 2001-2023 also shows this inverse relationship. Besides, the statistical relationship between economic growth with the trade balance and budget balance leads to the conclusion that maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy as a current priority of the Government is an essential condition in promoting economic growth and contributing to helping the economy overcome difficulties and adverse shocks.