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From Monobank to Commercial Banking Financial Sector Reforms in Vietnam Jens Kovsted, John Rand & Finn Tarp, University of Copenhagen (with Le Viet Thai, Vuong Nhat Huong & Nguyen Minh Thao, Central Inst. for Economic Management, Hanoi)

This comprehensive, detailed and up-to-date descriptive analysis of financial sector reforms in Vietnam since 1998 critically analyses key problems and obstacles facing the efforts to transform the Vietnamese economy, particularly the 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.

Contents
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

Published by NIAS Press, NIAS Reports # 48
Hardback publ. 2005, paperback December 2005, 170 pp., charts & tables
ISBN 978 87 91114 62 5, hardback, £40.00
ISBN 978 87 91114 86 1, paperback, £13.99