From Monobank to Commercial Banking

Financial Sector Reforms in Vietnam

by Jens Kovsted, John Rand & Finn Tarp

  • Published:
  • Pages: 192 pp.
  • charts & tables
  • Series number: 48
Available from NIAS Press worldwide except Asia-Pacific
This is a comprehensive, detailed and up-to-date descriptive analysis of financial sector reforms in Vietnam since 1988 and a critical analyses of key problems and obstacles facing the efforts to transform the Vietnamese economy.
• 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.

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Jens Kovsted is a Ph.D. in development economics , an

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.

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by Suiwah Leung
From journal:
Journal of Asian Business, vol. 22, no. 1, 2006

“…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 of

“…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”.”

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