Key Factors Influencing Financial and Monetary Security: A Case Study in Vietnam

Abstract

Background: Economic security, mainly financial and monetary security, is an integral component of national security. It facilitates the sustainable development of the national economy and addresses the country's demands. It enhances job opportunities and can adapt flexibly and efficiently to variations in the global context.

Objective: The study aims to explore the key factors influencing financial and monetary security in Vietnam. Besides, the author proposed policy recommendations for fostering financial and monetary security.

Methodology: The author conducted a group discussion with 30 managers with doctoral degrees in economic and financial management, quantitative methods, and primary data collected directly from the sample size of 500 economic experts from five major cities in Vietnam, using a random sampling technique and online survey and applied structure model.

Result: The results show that five key factors affect financial and monetary security with a significant level of 0.01, with which fiscal and monetary policies strongly impact. The five factors are, fiscal and monetary policy (FMP), bank risk management (BRM), legal and regulatory environment (LRE), economic and political stability (EPS) and Inflation and exchange rates (IER).

Conclusion: Financial and monetary security are essential for Vietnam's sustainable development, especially in a volatile world.

Unique Contribution: Financial and monetary security plays an important role and is very significant for the current economy, especially for the sustainable development of a country, especially in Vietnam.

Key Recommendation: Based on the research results, Vietnam needs to implement flexible and proactive fiscal and monetary policies and promote sustainable public debt restructuring, improve debt management efficiency, strengthen risk management, and proactively adapt to the trend of decentralisation and integration in the global financial system.