Author(s): Phan Thi Linh
Economic growth has a significant role for every country. It is the first necessary condition to overcome poverty and backwardness. According to the General Statistics Office, Vietnam's Gross Domestic Product (GDP) in 2020 reached 5.9%/year, bringing the GDP per capital to about 2,750 USD/year. Vietnam needs to achieve this result; economic policies play a huge role, including monetary and fiscal policies. For these two policies to promote the economic growth regulation more effectively in the following years, this article analyzes the impacts of monetary policy and fiscal policy on GDP growth in Vietnam in 2010-2020 using the structural Vector Autoregressive (VAR) model. The results show that monetary policy and fiscal policy positively impact GDP, and monetary policy has a more extensive and longer-lasting impact on GDP growth than fiscal policy.