Một vài suy nghĩ về giám sát tài chính ở Việt Nam

NGHIEN CQU - TRAO DOI ( So 1(66) - 2009 )

Mot vai suy nghi ve giam sat tai cliinh i Viet Nam

fboi cdnh ndm 2008)

TSKH. Nguyin Thj Hiln

^^au mpt th&i gian ddi phdt triin Sn dinh, thi tru&ng tdi chinh todn cdu dang bi chao ddo do bi

^ ^ dnh hu&ng cda cupc khung hodng cho vay the chdp &My, quoc gia tirng duac xem la mdu muc

h^J trong viec gidm sdt thi tru&ng cho din tru&c khi nhieng tap dodn tdi chinh khong Id rai vdo tinh

trgng bl kiim sodt dgc biet. Mac dii khong bi dnh hu&ng true tiip cua can biin dpng trin thi tru&ng

My, nhung cupc khiing hodng mang tinh todn cdu ndy dang dgt ra vdn di vi ndng luc gidm sdt tdi

chinh cua nhiiu quoc gia, trong do cd VietNam.

Gidm sdt ndi chung, gidm sat

tai chinh ndi rieng Id mdt khai

niem djnh tinh, nhung mdt khi

tin hieu tu' cdc ket qud gidm sdt

dua ra dugc xii' ly thdng qua cac

gidi phap can thiep ciia ca quan

qudn Iy thi se gay he qud cu the.

Vi vdy cd the djnh Iugng chuc

nang nay cua he thdng the che tai

chinh thdng qua boat ddng dieu

tiet thj trudng cua ca quan quan

Iy, phdn irng cu the ciia cdc the

che tdi chinh ddi vdi cac quyet

djnh qudn ly ciing nhu boat ddng

ciia thj trudng. Ngoai ra, giam

sdt tdi chinh se khdng cd y nghTa

neu tach rdi van de xir ly cdc tinh

hudng cu the. Do dd, nhQng phdt

hien trong qud trinh gidm sdt se

dugc trinh bay gdn liln vdi

nhung gidi phdp xir ly, tham chi

thdng qua viec xir ly tinh hudng

ma djnh Iugng cdng viec gidm

sdt. Lai nu-a, gidm sat tai chinh

khdng the tien hanh don ddc,

hodc neu tien hdnh don ddc thi

hieu qud se khdng cao, ddc biet

trong thdi ky kinh tl Viet Nam da

phat trien Ien mdt trinh do cao

ban hdn so vdi giai doan quan ly

tap trung quan lieu trudc ddy.

Cho nen, giam sat tai chinh se

dugc trinh bay trong tdng the cac

boat ddng gidm sat vd dieu tiet vT

md ndi chung. Theo each tiep

can dd, tdc gid xin diem lai mdt

sd tinh hudng xdy ra tren thi

trudng tdi chinh VietNam nhung

thang ddu nam 2008 nhu la mdt

su minh hga.

Tiing chimg kien lam phdt

phi ma giai doan 1985 - 1990 vd

tham gia true tiep vao qua trinh

dp dung cac biep phap kinh te

kiem che Iam phat thdnh cdng,

tac gid cho rang Iam phat Id phep

thir ly tudng giup ddnh gid thanh

cdng hay thdt bai ciia cdc cdng cu

gidm sat thj trudng. Do vdy xin

lay bdi cdnh lam phdt cao giai

doan tu- cudi ndm 2007 va ddc

biet la trong nhung thdng ddu

ndm 2008 de binh ludn vdn dh

dieu hanh kinh te vT md ndi

chung, gidm sdt tai chinh ndi

rieng. Mac dii nhQ-ng giai phap

giam sat vd dieu tiet kinh tl, tai

chinh d Viet Nam da bai bdn ban

ke tir sau khi nen kinh te dugc

chuyen ddi thanh cdng tir tap

trung quan lieu, hanh chinh bao

cap sang ca che thj trudng,

nhung sau mdt thdi gian dai kinh

te phat trien dn djnh, Iam phat

thap, cd ve nhu phdn ung ciia he

thdng cdng cu dieu tiet vT md khi

xay ra khiing hoang cd phdn bj

ddng, kem nhay ben. Sir chua

san sang hdi nhap ciia bd may

qudn ly sau khi Viet Nam da trd

thanh thdnh vien ciia Td chirc

Thuang mai the gidi (WTO) vd it

nhieu "budn vui" ciing thj

trudng toan cdu cung gdy khd

khan them cho boat ddng gidm

sat va dieu tiet kinh te. Dudi ddy

xin diem Iai mdt vdi sir kien ma

ehiing tdi cho rdng the hien sir

lung timg trong giam sat vd dieu

tiet vT md thj trudng tdi chinh

Viet Nam trong bdi cdnh lam

phat cao giai doan tu' nira cudi

nam 2007 den giua nam 2008.

Lgm phdt vd nhirng ldng

tiing trong dieu hdnh chinh

sdch tiin te

Lung tiing ddu tien Id viec

mua vao ddn dap mdt lugng Idn

dd la nham ngan da sut gid ciia

ddng tien nay khien cho ngay sau

dd thj trudng lai trd nen khan

hiem loai ngodi te ndy Giai trinh

tai phien dieu trdn trudc Ky hgp

Qude Hdi ngay 31 thang 5 nam

2008, Thdng ddc Ngdn hang Nha

Tap chf nghien cdu Tdi chfnh ke todn