Public debt crisis in several world economies

21 September 2012, the UEB’s Vietnam Center for Economic & Policy Research (VEPR) has organized a seminar entitled “Public Debt Crisis in Several World Economies - Causes, Situation, Consequences and Implications for Vietnam”.

The seminar had the attendance of Dr. Nguyen Duc Thanh - VEPR Director cum member of the National Assembly’s Consulting Team on Macroeconomics; Dr. Nguyen Thi Thu - UEB’s Factulty member; Mr. Vu Hoang Dat - Researcher of Center for Analysis and Forecasting, Vietnam Academy of Social Sciences; together with the participation of researchers, students and graduates from other universities in Ha Noi.
It was the 3rd seminar in the series of seminars in economic and policy research periodically held by the VEPR, in the hope that this would be a forum for young researchers to present their research results. Accordingly, it is expected to form a research network with the cooperation and support of many organizations, such as the Vietnam Institute of Economics (VIE), Center for Analysis and Forecasting (VASS), institutes and universities such as the National Economics University, Foreign Trade University, VNU University of Economics and Business...
Opening the seminar was the Dr. Nguyen Duc Thanh’s statement which introduced the purpose and long-term orientation of the activities. It was followed by the presentation by Mr. Vu Minh Long - Researcher of the VEPR. Under the theme Public Debt Crisis in Several World Economies - Causes, Situation, Consequences and Implications for Vietnam”, the paper has analyzed the basic theory of public debt and the debt crisis, provided with an overview of previous international studies on this issue, especially Greek government debt crisis recently.
Besides, the study also analyzed the current debt situation in the two countries which had typically high public debt as the U.S. and Japan. Finally, the author mentioned the budget deficit and public debt in Vietnam to provide practical policy implications.
Along with the presentation, there were many valuable comments from the participants at the seminar which would help the author team improve the theoretical framework, information and data in order to deeper analyze the debt crisis.

Thuy Dzung

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