Nguyễn văn đán điểm mới của la ta

THE SOCIALIST REPUBLIC OF VIETNAM
Independence-Freedom-Happiness
*****
NEW CONTRIBUTIONS OF THE THESIS
1. Introduction
Thesis title: Spillover effects of the US monetary policy on the markets of
ASEAN countries
Ph.D. Student: Nguyen Van Dan
Ph.D. Student Code: 010121160029
Major: Finance and Banking; Code: 9.34.02.01
Training institution: Ho Chi Minh University of Banking
Academic title and full names of supervisors: Dr. Le Van Hai and Dr. Ton That Vien
2. Contents
The thesis has main contributions as follows:
Despite the fact that the spillover effect of foreign monetary policy has been
extensively researched in earlier studies, a review of the theoretical underpinnings and
empirical research reveals that. However, the majority of these research have not
examined the spillover effect through the various channels' conduction mechanisms.
Few studies have been broken down by channels, and the list of channels is far from
exhaustive. Because of this, the elements in prior research' analyses of the effects of
international monetary policy spillovers are constrained and do not take into account all
relevant factors. Therefore, the author's test of the spillover effect from the US
monetary policy to the ASEAN developing countries market through analysis by
channels of spillover effects helps to better analyze the transmission mechanism of the
spillover effect of monetary policy.
Additionally, a thorough analysis of the impact channels, comprising 5 channels,
is conducted in order to offer empirical support and to provide a more comprehensive
evaluation of the consequences of international monetary policy. In which the author's
analysis of the monetary policy spillover impact includes the addition of the channels of
portfolio balance and growth in addition to channels like the exchange rate channel,

finance channel, and aggregate demand channel. In addition to earlier studies, finance
managers can provide a new area of research.
The research sample is also a novel aspect of the thesis. A survey of prior
research specifically reveals that the majority of studies primarily concentrate on
examining the effects of monetary policy of industrialized countries and regions on
emerging markets (including emerging markets). Both developed and developing
nations will face obstacles such significant income disparities, policy variations across
nations, economic openness, etc.; yet, no research has been done on these issues. done
expressly to certify for the ASEAN(5) bloc, which includes Vietnam, as a group of
developing nations as opposed to the group of less developed nations. Therefore, the
topic will add more empirical evidence on the spillover effect of international monetary
policy to the countries in the above group in the period 2008 - 2019. Along with that,
the separation of Vietnam into a bloc in the period 2008 - 2019. The research process
will help to have a deeper insight into the relationship between the Vietnamese market
and the world market.
Last but not least, these study findings are used as a guide to assist researchers
and decision-makers in developing suitable solutions and policies to prevent the
detrimental effects of the US monetary policy's spillover effects, as well as support
integration and development of each nation's financial market and economy.

Signature of supervisors
1st supervisor

2nd supervisor

Ph.D. student

Dr. Le Van Hai

Dr. Ton That Vien

Nguyen Van Dan