Summary of Doctoral thesis Finance – Banking: Efficiency of public investment in the current period in Vietnam

On the ground of evaluation of Vietnam’s public investment in the period of 2007 – 2019 by systematizing theories and summarizing international experiences on managing public investments, the thesis suggests solutions for changing methods for managing Vietnam’s public investment in the coming time.
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Summary of Doctoral thesis Finance – Banking: Efficiency of public investment in the current period in VietnamMINISTRY OF EDUCATION AND STATE BANK OF VIETNAM TRAINING BANKING ACADEMY OF VIETNAM --------- DAO THI HO HUONG EFFICIENCY OF PUBLIC INVESTMENT IN THE CURRENT PERIOD IN VIETNAM SUMMARY OF DOCTORAL THESIS Hanoi, 2021MINISTRY OF EDUCATION AND STATE BANK OF VIETNAM TRAINING BANKING ACADEMY OF VIETNAM --------- DAO THI HO HUONG EFFICIENCY OF PUBLIC INVESTMENT IN THE CURRENT PERIOD IN VIETNAM Major: Finance – Banking Code: 9.34.02.01 SUMMARY OF DOCTORAL THESIS Academic supervisors: 1. Assoc. Prof. Dr. To Kim Ngoc 2. Assoc. Prof. Dr. Nguyen Thanh Phương Hanoi, 2021 1 COMMITMENT I hereby declare that this is my own research. The data and materials used in thethesis have a clear origin and are quoted in accordance with regulations. The author of the thesis Dao Thi Ho Huong 2 ACKNOWLEDMENT The thesis is a study of the author seriously for a long time with the support ofindividuals and organizations. First of all, the author would like to express my deep gratitude to Assoc. PhD. ToKim Ngoc and Assoc. PhD. Nguyen Thanh Phuong for their expert guidance on myresearch. The author also would like to thank teachers of Banking Academy andPostgraduate Faculty for facilitating learning and researching for the PhD candidate. The author would like offer my sincere gratitude for the generous help of scientistsand officers in agencies of finance, science, technology and research institutes onconducting the actual survey. Sincerely thank my family as well as agencies, colleagues and friends, forencouraging the author to complete the thesis. The author of the thesis Dao Thi Ho Huong 3 INTRODUCTION1. Research background Unstable conditions of the world at the present time such as the financial crisis of2007 – 2008, COVID-19 pandemic, etc. have posed many risks to any countries’economy. Public investment is considered as an indispensable tool to affect the economy.Effective public investment will be the driving force for economic growth, especially inthe pandemic context. These ideas are consistent with the findings of Chakraborty andDabla – Norris (2011) on effects of public investment on economic growth, or thefindings of IMF (2015) on the relation of public investment efficiency and socio-economic development. Vietnam’s public investment for development accounts for a modest proportion inthe national expenditure (state budget), but this rate, when comparing to the same rate ofother regional countries, is higher, showing too much government intervention in theeconomy. Vietnam’s public investment efficiency in the present is fairly low. The studyof Pho Thi Kim Chi et al. (2013) showed that the effect of public investment oneconomic growth in short-term period was much larger in long-term period. CIEM(2013) in the study on Public Investment, Public Debt and Budget Sustainability inVietnam gave an overview of the current situation of public investment, evaluatedVietnams public investment efficiency in the period 2000-2012 and stated the effect ofincomplete legal framework on low public investment efficiency in Vietnam. Vu ThanhTu Anh (2013) claimed the requirement of a standard process of implementing publicinvestment to achieve public investment efficiency. Tran Kim Chung et al (2015)mentioned that instead of investing into a great amount of sectors, Vietnam should makepublic investments with a lot of care. Therefore, the study of “Efficiency of publicinvestment in the current period in Vietnam” is absolutely necessary.2. Research objectives General objectives: On the ground of evaluation of Vietnam’s public investmentin the period of 2007 – 2019 by systematizing theories and summarizing internationalexperiences on managing public investments, the thesis suggests solutions for changingmethods for managing Vietnam’s public investment in the coming time. 4 Specific objectives: To fill the research gap mentioned above and to ...