From Monobank to Commercial Banking

• A comprehensive, detailed and up-to-date descriptive analysis of financial sector reforms in Vietnam since 1988

• Critical analyses of key problems and obstacles facing the efforts to transform the Vietnamese economy

This study analyses the difficulties and problems encountered in transforming the Vietnamese financial sector from one subordinate to government objectives and goals to an autonomous sector guided by market forces and competitive pressures. Here, the history of financial sector liberalization is traced and close attention paid to the activities and autonomy of the State Bank of Vietnam, the institution responsible for the supervision and regulation of the financial sector in Vietnam.

Overall, the authors argue that ensuring a timely, fair and transparent supervision and regulation of the financial sector is of central importance to financial sector development and stability. Liberalizing financial markets is not solely a question of limiting and/or restricting government influence but may in fact involve the opposite, the influence and power of supervisory and regulatory institutions in many cases needing to be strengthened.

1. Introduction
2. Executive Summary
3. Central Planning and the First Phase of Reforms
4. The East Asian Financial Crisis and its Aftermath, 1997-2003
5. A Regional Comparison of Bank Supervision and Regulation
6. The State Bank of Vietnam
7. Financial Services to the Agricultural Sector
8. Conclusion
Appendix A. The State Owned Commercial Banks
Appendix B. Important Events 1988-2003
Appendix C: Bank Supervision and Regulation Indicators
References, Index

"…the book gives a penetrationg insight into issues such as regulatory regimes and central bank independence and grapples with what actually occurs "on the ground" rather than what is said in the official announcements or even what is "on paper"." Reviewed by Suiwah Leung, Journal of Asian Business, vol. 22, no. 1, 2006

Jens Kovsted

Jens Kovsted is a Ph.D. in development economics , and an analysis manager at CEBR, the Centre for Economic and Commercial Research, which is linked to the Copenhagen Business School. He has also lectured on development economics at the University of Copenhagen's Centre for African Studies.

Finn Tarp

Finn Tarp (born in 1951) holds an M.Sc. and a Ph.D. in Economics from the University of Copenhagen where he is Professor of Development Economics. He is also the Coordinator of the Copenhagen based Development Economics Research Group (DERG). He has some 30 years of experience in academic and applied development economics research, teaching and outreach. His field experience covers numerous countries across Africa and the developing world more generally, including longer term assignments in Swaziland, Mozambique and Vietnam. He has published extensively in internationally refereed journals and has authored several books with international academic publishers.

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From Monobank to Commercial Banking

Financial Sector Reforms in Vietnam

by Jens Kovsted, John Rand & Finn Tarp

Jens Kovsted

Finn Tarp

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