Vietnam Crisis Research Articles

Social media‐enabled crisis response in Vietnam: A tương thân tương ái perspective

AbstractA growing amount of information systems (IS) research is examining the use of social media to enable effective crisis response. However, existing studies have overlooked the impact of indigenous concepts, which play an important role in crisis response. Our study intends to offer an indigenous perspective to this research stream by examining how social media‐enabled crisis response is enacted in Vietnam. We used COVID‐19 as the focal crisis and collected a rich set of discussion threads from social media. By analysing the data through the grounded theory method, our study identifies the indigenous theoretical concept of tương thân tương ái. We further unveil a process model consisting of six mechanisms through which tương thân tương ái inspires crisis response on social media and three roles assumed by social media during this process. Our study contributes to the literature on social media‐enabled crisis response by providing an indigenous perspective and a context‐specific explanation. It also enriches IS theory in the Association of Southeast Asian Nations (ASEAN) by investigating how the indigenous concept of tương thân tương ái influences Vietnam's crisis response on social media. Our findings also provide guidelines that can help communities beyond Vietnam to promote the values of tương thân tương ái during crisis response.

Exploring Refugee Crises: A Comparative Study of US Withdrawals from Vietnam and Afghanistan

The refugee crisis is a recurring consequence of the long-term conflict and political turmoil. This research aimed to study and compare the refugee crisis resulting from the U.S. involvement in the complex political dynamics of both Vietnam and Afghanistan. The study analyzes the causes, reactions and impacts of these refugee crises and gives insights into the complexity of the displacement and international response. The qualitative research design focused on content analysis. Books, academic papers and reports are used as data sources. The framework of realist and forced migration theory was applied to identify the root causes of the refugee crisis in Vietnam and Afghanistan, allowing comparative analysis. The study examined the US military’s involvement in the refugee crisis since 1975 in Vietnam, highlighting its impact on refugees and host communities. The US’s withdrawal from Afghanistan in 2021 led to the Taliban’s takeover, increasing Afghan refugee numbers and posing political tensions and security risks. In Vietnam, an estimated 2 million and in Afghanistan, an estimated 1 million refugees fled the country after the withdrawal due to push and pull factors. The Vietnam and Afghanistan refugee crises share similarities, but they have significant differences. Vietnamese refugees primarily fled by sea, while Afghans used land, air, and sea routes. Vietnamese refugees settled in Southeast Asia and the US, while Afghan refugees sought asylum in various countries. The U.S. government’s policy response to refugees exhibited a mix of welcome and skepticism, influenced by Vietnam’s strategic importance during the Cold War. The study recommended enhancing international cooperation, prioritizing humanitarian aid, implementing comprehensive refugee policies, promoting conflict prevention, enhancing resettlement programs, addressing socioeconomic factors, raising awareness, combating stigma, strengthening legal frameworks, investing in education, and learning from past experiences to address refugee crises.

Disaster, Societal Responses, and State Legitimacy in Crisis in Vietnam

This article examines the role of celebrity activism in post-disaster politics in the context of state authoritarianism in Vietnam. In late 2020, a chain of violent tropical storms hit Vietnam’s central highland region – host to hundreds of hydropower dams – triggering severe landslides and floods that devastated human lives and local livelihoods. Drawing on data gathered through social media, online platforms, and interviews with non-governmental organisations and private sector actors, this article shows how the rupture of these disaster events facilitated socio-political openings in state–society relations that might otherwise have remained closed. It explores these political contestations, attributions of blame, and the competing recovery efforts that emerged between government actors, celebrities, and citizens. Public debates over the natural and political catalysts of the disaster revealed major structural and governance problems for the state, which allowed voluntary charity work by a celebrity to supplement state functions during the disaster. Considered illegal under state law, the article shows how support from the public and lower tiers of government for private charity work challenged state legitimacy. Under pressure from within and from citizens, the central government had to amend its policies to accommodate voluntary disaster relief – to restore its flagging legitimacy.

Perilous Pacific: Thanatic Archive and Vietnamese Refugees

While deadly scenes of air raids and land battles have dominated the historical archive of the war in Vietnam, commonly assumed to last from 1955 to 1975, not much systematic attention has been paid to the thanatic aspects of refugees’ oceanic exodus, which can help revise the temporal and spatial frames of the Asian conflict. As an attempt to address this critical lacuna, this essay examines fatalities at sea in refugee narratives pertaining to what some Americans designate the Vietnam War or what some Vietnamese call the American War. Specifically, through a comparative exegesis of two English short stories by Nam Le and Viet Thanh Nguyen, namely “The Boat” and “Black-Eyed Women,” this essay illustrates how both Vietnamese refugee authors construe the Pacific Ocean as a lethal material space–time traversed by Vietnamese boat people. If Le’s story rhetorically enlivens the ocean in order to accentuate its mortal impacts on refugees during their voyage, Nguyen’s story stylistically revitalizes the ocean as a spectral force that continues to unsettle resettled refugees. Taken together, this essay argues for the centrality of the perilous Pacific in constituting an alternative archive of the Vietnam crisis that recognizes departed and disavowed refugees as historical agents. In so doing, it contends that an oceanic view of the Vietnamese warfare is key to enacting postcolonial critiques of both imperial (American) and national (Vietnamese) regimes of exclusion. By demonstrating how Vietnamese refugee writers thematically and formally animate treacherous oceanic routes of escape, this essay redirects critical attention to the hitherto neglected maritime spaces as conflict spaces. This literary rearticulation of the sea as thanatic history allows us to supplement both aerial and terrestrial modes of knowing the debacle in Vietnam, as it radically expands the temporality and spatiality of the tragic episode in Asian history.

Systemic risk and financial system network using financial risk meter: the case of Vietnam

ABSTRACT In the financial market, systemic risk is defined as the possibility that an event at the company level could trigger severe instability or collapse of an entire industry or the whole economy. Thus, understanding systemic risk is crucial for the financial institutions, large corporations, investors and regulators. This article investigates systemic risk and spillover effect using the new Financial Risk Meter ( F R M ) index, which is obtained from running quantile linear regression and Least Absolute Shrinkage and Selection Operator ( L A S S O ) method. The F R M index is obtained to identify the highly risky periods, the contributors to systemic risk and the potential activators of spillover effect. Moreover, interconnection between firms can be visualized as a network. We use a data set consisting of daily stock returns from 35 financial institutions and real estate firms in Vietnam, combined with 4 macroeconomic variables over the period from November 2011 to December 2020. The findings indicate that over the considered period, some detected highly risky periods are 2012, 2018 and 2020, probably due to the non-performing loan crisis in Vietnam, US-China trade war and global COVID-19 outbreak. Some active activators of risk spillover effect are also identified.

Forecasting the Crisis of Vietnam's Financial Market by Markov Switching VAR Model

The global economy and financial markets have experienced "The most adverse shock in a century" due to the impact of the Covid-19 epidemic but are also transforming enormously in the digital era. Besides, Vietnam's financial system has been making vital development steps, increasing its resilience. Still, its development prospects depend mainly on the recovery of the global economy and financial markets, the Stability of the economy, and the Stability of the economic stability and sustainability of investor confidence in the market. The Markov Switching Var (MSVAR) model will measure the crisis in the Vietnamese financial system. The research goals reveal that the volatility of macro variables such as the exchange rate (ER), foreign exchange reserves (FR), and the domestic interest rate differential (ID) affects the financial market crisis in Vietnam from 2010 to 2020. According to MSVAR estimation, establishing the time of the financial market crisis correlates with the period of higher volatility in the foreign currency market. Thus, the article's novelty is to proactively seize opportunities development prospects and prevent risks towards sustainable development, and strategic solutions are needed.

Income Diversification and Financial Performance: The Mediating Effect of Banks’ Size, Ownership Structure and the Financial Crisis in Vietnam

Research aims: This study focuses on the correlation between income diversification and financial performance, taking into account banks’ size and type of ownership as well as financial crisis.Design/Methodology/Approach: This study uses financial data of 29 commercial banks in Vietnam during the period from 2005 to 2018. This research employs an Generalized Method of Moments (GMM) regression.Research findings: The results do not find a statistical evidence of a direct effect of banks’ income diversification on their financial performance. However, when considering the classification factors such as bank’s size and type of ownership, the findings show that big-scale and state-owned banks can take advantages of diversification strategies to boost their profitability. Moreover, the study proves that income diversification generates the significantly positive effect on banks’ financial performance during the time of financial crisis.Theoretical contribution/ Originality: Theoretical contribution in order to provide evidence on the direct effect of income diversification on bank’s financial performance in relation with banks’ size and type of ownership as well as financial crisis.Practitioner/Policy implication: Further, this research also contributes on managerial contribution for the bank’s manager, policy-makers and investors to get sight of good banks’ financial performance in the context of unstable economy.Research limitation/Implication: The limitations still exist in this research, such as: (1) the number of banks participating in the research sample is a predictable limitation; (2) this research mainly focused on financial variables but ignores the variables representing the manager’s behaviour and the bank’s organization structure; (3) the future studies can focus on these aspects to further explore the hidden picture of diversification strategy and banking performance.

COVID-19 Employment Crisis in Vietnam: Global Issue, National Solutions

COVID-19 Employment Crisis in Vietnam: Global Issue, National Solutions

Effects of temporary corporate income tax cuts: Evidence from Vietnam

Using a quasi-experimental design and panel data from 2004 to 2014, I estimate how temporary 30% corporate income tax cuts affected firm investment, employment, profits, and tax revenue during the Global Financial Crisis in Vietnam. I find that investment increased during the policy year and came back to its pre-policy level after the policy ended. The evidence does not suggest there were any significant changes in employment. Reported profits of eligible foreign-owned firms doubled in the policy year and remained high after the policy ended. I find no evidence that profits of foreign-owned firms increased because of changes in labor or capital. Instead, multinational firms likely shifted reported profits to take advantage of the tax policy. Tax payments by foreign-owned firms increased, while those by domestic firms decreased.

Determinants of banking crisis: The case of Vietnam

This paper identifies determinants associated with probability of banking crisis in Vietnam. By using data sample of more than 30 commercial banks from 2005 to 2013, the results from our multivariate logit model indicate that banking crisis tends to erupt as non-performing loans, borrowings from government and State bank of Vietnam are high. Moreover, we also find that most risk in Vietnam’s banking sector from period 2005-2013 lies in private commercial bank which is highly manipulated by large shareholders.

Making Depositors Greedy and Careless: Government Safety Nets and the Degradation of Depositor Discipline

In emerging countries, deposits play an important role in banks’ total funding; hence depositor discipline may impact significantly banking performance and the financial system’s stability. My paper investigates the reaction of bank depositors to interest rates as well as signs of banks’ risk, before and after the recent banking crisis in Vietnam. I demonstrate that before the crisis, the level of deposit financing in banks depended on the interest rates offered, but also on measures of the banks' risk-taking. After the crisis, the second relationship wanes: Bank customers still react actively to interest rates but not to risk, presumably because they have learned that their deposits are safe, whatever risk the bank is taking.

Incorporate the rules of social segregation in solutions for the inhibition of the housing bubble in Vietnam

Unlike the crisis in the U.S. which mainly started from the secondary investors and financial system, a great part of Vietnam’s housing bubble was caused by the primary investors. When businesses in Vietnam made lower profits, this led to rush investments in the real estate market, even from those primary investors who are newly established, have a lack of professionalism in housing development and knowledge of urban economics. Many of their projects were not possible to implement, leaving the market frozen with huge numbers of empty plots, houses and apartments. The review of urban sociology theories combining with deep analysis of the situation of Vietnam and the U.S had clarified the causes of the housing crisis in Vietnam. Many housing projects in the country are prepared without incorporating certain physical and social factors, leading to the lack of feasibility, and therefore, largely seen as the origin of the housing crisis. The proposed solution of this research was to incorporate physical and social factors in the projects represented by the correct selection of the appropriate housing status and dwelling quality for each social group.

Corporate Diversification and Firm Value in Financial Crisis in Vietnam

This research aims at assessing the relationship between corporate diversification and firm value ​​in the time of financial crisis in Vietnam. The research sample consists of 42 Vietnamese non-financial enterprises listed on HoSE from the first quarter of 2008 to the fourth quarter of 2011. We used two methods to estimate panel data regression: (1) Regression Method Pooled OLS and (2) Random Effect Model (REM). The results show that: (1) There is relationship between corporate diversification and firm value, however, corporate diversification should be implemented at either national or industrial level; (2) The financial crisis doesn’t dominanate this relationship and the implementation of diversification will contribute to improving the relative valuation of diversified firms in Vietnam regardless of financial crisis. This empirical result will help Vietnamese enterprises have a reference for considering and making decision related to corporate diversification.

The Economic Policy Change of the U.S. against South Korea in 1960s: Centering around the Plan for a Financial Stability and the Export-oriented Industrialization

이 글은 1960년대 수출지향적공업화의 전환과 베트남전 파병을 분석하였다. 미국은 한국에 대해 수출지향적공업화를 유도하고 있었다. 박정희 정부도 수출지 향적공업화에 대한 의지를 가지고 있었다. 베트남 파병으로 한국은 미국으로부터 수출시장, 수출경쟁력, 자본과 기술을 얻게 되었다. 더불어 엄격했던 재정안정계 획이 완화되면서 박정희정부는 제한적이지만 경제운영에 대한 재량권을 확보했 다. 유솜의 재정안정계획의 실내용인 통화, 물가, 환율, 이자율은 국가경제운영의 핵심인 가격기구였다. 이러한 재정안정계획의 엄격한 적용여부는 박정희 정부의 태도에 따라 유연성이 있었다. 한편 박정희 정부는 1962년 1차 경제개발5개년 계획을 수입대체산업화에 중점을 두었다. 이에 대한 미국의 불만으로, 박정희 정부는 원 계획을 수정 보완하였으며, 환율과 이자율의 현실화를 통해 수출지향적 공업화로 전환하였다. 한국이 수출지향적공업화로 나아가기 위해서는 수출경쟁력과 수출시장이 필요했다. 이에 대한 해결의 계기는 베트남전 파병을 조건으로 미국과 박정희 정부는 박-존슨 커뮤니케를 작성하면서부터였다. 한미간 요청과 협조의 형태로 미국은 경제적, 군사적 지원과 재정안정계획에 대한 유연한 운영을 제시하였다. 뿐만 아니라 베트남에 대한 한국제품의 무제한적 수출 이루어지면서 베트남 수출시장이 확보되었다. 박정희 정부의 수출지향적공업화는 1960년대 베트남전쟁이라고 하는 동아시아의 위기 위에 새롭게 형성된 질서였다.This study analyses the connection 1960s’ transition to the export-oriented industrialization with the Vietnam war. U.S. influenced Korea for the export-oriented industrialization. As part of it, USOM fulfilled plan for financial stability. this substantial contents were money, price(inflation), exchange rate, interest. In fact, the plan for financial stability(money, price, exchange rate, interest)of USOM was price mechanism which was the gist of National economic management. Criteria for strict application of plan for financial stability was Korean Military Junta attitude. Meanwhile, In 1962, Park Chung Hee administration pushed ahead with the first 5-Year s Planning of Economic Development with intention industrialization. But U.S. felt strong dissatisfaction about the first 5-Year s Planning of Economic Development, so Park Chung Hee administration evaluated and revised original plan. Park Chung Hee administration turned intention industrialization over to the export-oriented industrialization. In order to move forward the export-oriented industrialization, Park Chung Hee administration was in need of Export competitiveness and export markets. Export competitiveness was the lower relative price in international market. It was necessary to meet this condition which made Korean industrialization unbalanced and rationalized about money, price, exchange rate, interest. Because of dispatch troops to the Vietnam War, Park Chung Hee administration solved these problems. Under the promise of dispatch troops to the the Vietnam War, Korean and U.S. drew up Park-Johnson communique. In the form of cooperation with the request between U.S. and Korean, U.S. had flexibly managed plan for financial stability and military support. Korean business exported Korean product in Vietnam out of all limits and Park Chung Hee administration guaranteed the export market, that is to say Vietnam, from U.S. The the export-oriented industrialization policy of Park Chung Hee administration was new order which was built on the basis of Vietnam crisis which could be called East Asia.

Comparative Study of the Roles of ASEAN and the Organization of Islamic Cooperation in Responding to the Rohingya Crisis

Since 2012, Southeast Asia has witnessed the human rights tragedy of the Rohingya people of Myanmar. Hundreds of thousands of Rohingya have been displaced from their homes and traveled to refugee facilities in Myanmar and Bangladesh, while others have been stranded on the Andaman Sea. The Rohingya crisis is perhaps the most horrific human rights tragedy after the crisis in Vietnam in the 1970s. As the crisis has developed, international communities, including ASEAN and the Organization of Islamic Cooperation (OIC), have responded to the crisis. As the main regional organization, ASEAN has been hoped to elucidate the crisis tactically through peaceful means. OIC, meanwhile, has been expected to join humanitarian action using a diplomatic approach to other international humanitarian bodies, including the UNHCR. However, it is obvious that ASEAN's response to the crisis has been limited to diplomatic oration and failed to prevent a wider crisis. For OIC, its humanitarian solidarity has lacked access to the target community. Therefore, this paper would like to attempt a comparative analysis to describe the central inquiry; how have ASEAN and OIC responded to the Rohingya crisis? This analysis involves studying ASEAN and OIC publications and related references. The initial argument of this paper is that both organizations have given reasonable responses to the crisis, but have been unable to halt its advance.

Human development and alienation in the context of economic crisis in Vietnam

This article focuses on the link between alienation, commodity fetishism and human development. Alienation and commodity fetishism appear in different ways, very abstract and invisibly. People engage innocently with these phenomena without awareness of how their well-beings are related to. Empirically, this research reveals the alienation and commodity fetishism expressed in the adaptation of workers, managers and owners in factories during economically troubled times. What must be considered, however, is the consequences of all this for human development. After some criticism of human development based on the capability approach, Marxist implications are drawn for understanding of this process.

Early Warning Systems of Currency Crises: An Empirical Investigation in Vietnam

Based on the study of Kaminsky and Reinhart (1999), this paper studies and applies early warning systems of currency crises to the case of Vietnam from 1996 to 2014. Its results show that the currency crisis is signaled six times during the observed period. Several principal indicators of the currency crisis in Vietnam include increased import, decreased export, excess real M1 balances, low international reserves and deposit growth, high interest rate and credit growth, high domestic-foreign rate differential, and decreased real output. Hence, the Government and the State Bank of Vietnam should grant appropriate policies not only to control the money supply and interest rate, but also to stimulate the ability of capital mobilization of Vietnam’s banking system and to facilitate export activities in the coming years.

Comparing parametric and non-parametric early warning systems for currency crises in Vietnam

The purpose of this paper is to compare performances of the parametric and nonparametric early warning systems for currency crises in Vietnam from January 2002 to December 2014. The study results showed that the method parameter effectively than the method parameter in early warning currency crises in Vietnam. Besides, the author also gives a number of recommendations to strengthen the early warning system for currency crisis in Vietnam in the future.

Formation of the Feasibility of Housing Projects in Vietnam Incorporating the Physical and Social Factors

Unlike the crisis in the U.S which mainly started from the secondary investors and financial system, the Vietnam's housing bubble is caused by the primary realty investors. When businesses in Vietnam made lower profits, this led a rush to investments in the real estate market even from those primary investors who are newly established, lack of professionalism of housing development and knowledge of urban economics. Many of their projects were lack of feasibility as products could not be sold or developed, leaving the market frozen with huge numbers of empty plots, houses, and apartments. The review on Urban Sociology theories from the Chicago school to the recent researches on Urban Residential Location combining with deep analysis on the situation of Vietnam and the U.S had clarified the causes of housing crisis in Vietnam. Many housing projects within the country are prepared without incorporating certain physical and social factors, leading to the lack in feasibility and therefore largely seen as the origination of housing crisis. The proposed solution of this research was to incorporate physical and social factors in the projects, represented by the correct selection of the appropriate Housing Status and Dwelling Quality for each social group.

Early Warning Systems of Currency Crises: An Empirical Investigation in Vietnam

Based on the study of Kaminsky and Reinhart (1999), this paper studies and applies early warning systems of currency crises to the case of Vietnam from 1996 to 2014. Its results show that the currency crisis is signaled six times during the observed period. Several principal indicators of the currency crisis in Vietnam include increased import, decreased export, excess real M1 balances, low international reserves and deposit growth, high interest rate and credit growth, high domestic-foreign rate differential, and decreased real output. Hence, the Government and the State Bank of Vietnam should grant appropriate policies not only to control the money supply and interest rate, but also to stimulate the ability of capital mobilization of Vietnam’s banking system and to facilitate export activities in the coming years