Looking back on the process to cope with crisis in Viet Nam. wc can realize the positive role of the State in managing to prevent crisis. Statistics of economic situation before and atkT crisis ha\ e shown that economic stimulus package of Vietnamese Go\ emment has got success.
To have such results, it is thanks to the policy to harmonize the relation between the market and the role of the State in recent time. -Via more than 20 years of innovation, Viet Nam has got some beginning success in formation and impro\ement of market mechanism as well as adjustment of the equivalent role of the State in the economv'"'*.
However, with the change in new development period, Viet Nam must have more positive changes in defining the role of the State.
To raise the role of the State in preventing crisis in Viet Nam, the writer has given three following problems:
I. Adjust weaknesses in economy; raise the strengths for the economy.
reality has shown the reality of Vietnamese economy in 2008 which can be the consequences of many reasons such as: defects of economic structure, unsuitabilily of imporl export scale and structure, dependence on FDI and unsuitable siruclure of FDI capital...and when economic crisis appears in the US il has some impacts on Viel Nam then economic weaknesses have been shown quickly. Therelbre, recent economic stimulus package has reached success however it is just a part in the whole solutions that Viet Nam must do to develop the stable economy.
Comprehensive and stable development solution includes:
- Implement the policy for sustainable development such as: raising social securit}*;
raising domestic consumplion. suitable export structure - not depend on some markets, investment in production to raise working eflect, not depend on foreign enterprises....
- Implement comprehensive dexelopmenl policy such as: investment in rural infrastructure, education, supporting farmers....
2. Hartnonize Stale *s interference into the tnarket.
As mentioned above, Viet Nam cannot loosen the function of State management on market economy because if leUing the market freel\ impacted then the econom> will fall in crisis. And when crisis happens, il will be difficult to solve problems. However, if the Slate interferes so much then it can create man> great damages tor the econom)- such as planning economy in the old model of socialist nations.
IR PlHun Thj Mt>ng Di<;p. "The role of state in market economy from some theories applied into Viet Nam".
The problem is to find out flexibility in state's management. Applying both hands:
tangible hand and intangible hand to promote market economy to develop.
In term of this problem, Viet Nam must implement the following problems:
- Raising function of State management in term of economy: the State in market economy according to socialist orientation must implement macro management via tools of economy, law, administrative. To do this, it must improve management machine of the State in term of economy including: improving administrative machine, administrative procedures, raising quality of cadres ...
- Define the lunction of the State: reality has shown that the State must join in economy but must orient and define preferential trends.
- Focus on welfares problems: the Stale orients lo socialism and sustainable development. It means that apart from economic target, social targets must be focused.
If Viet Nam can define clearly the role of the State in market economy according lo socialist orientation including the harmony of relation between the role of the State and market and implementation of such role then il can maintain dexelopmenl and the economic strength will be ensured in crisis.
3. Raising the effect to cope with crisis :
Via analysis, we can see that the usage of Ke>nes theories in crisis is compulsor> thing.
However, to reach the highest effect there must be concrete solutions. The writer has proposed some following tasks:
Apply economic theories such as Keynes theor\- considering national background, raise maximum eflect of each melhod to solve crisis.
- Consider limitations and risks of each method.
- Comprehensively implement demand stimulus package w ith other solutions such as cun-ency policy, policy to support export, investment aUraclion...there must be solutions for future economic situation.
- Monitor and assess demand stimulus package: demand slimulus package must be implemented wilh the large monitoring of the society lo limil negalixc things. After implementation, demand slinnilus package must be assessed in term of target
" Ph.im Thj H6ng OivP- "The role of slate in market economy from some theories applied into Viet Nam".
fulfillment and influence level on economy in the future to draw experiences as well as better prepare for the next economic policy.