Conclusion

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Conclusion
Following the countries accession to the World Trade Organization, financial liberalisation has picked up considerable momentum. Compared to other studies on financial liberalisation, this study focuses on the impact of financial liberalization on Vietnam’s stock market. After collecting data, calculating and running models, in comparision with previous studies, it shows us that there are some points to be mentioned as following. For the contribution to the literature, there is very few of previous researches show the empritical study about the effects of financial liberalization on the liquidity and efficiency of stock market. The number of that studies is especially smaller when we discuss about Vietnam’s stock market. In this research, we have answered that big question. Our report have pointed out the positive effect of financial liberalization on Vietnam’s stock market by calculating and running the quantitative model. From our significant results, we propose some suggested policies in order to help managers to have the most effective way to make use of the opportunities coming from financial liberalization, and toward a stock market that have the most liquidity and efficiency in the liberalization condition. For the limitation of study, data used is monthly dataset, so there is values missing because of the lack of available information. Beside that, the problem of collecting data from different sources with different definitions, different criterias, different methods of calculating, … will lead to some errors or differences in the result. Moreover, models did not mention some factors of macroeconomics, political measures, investment risk which is showed by theoreotical studies that they can impact stock market. Because of limitation of time and knowledge, we have not reviewed so many previous studies to have strong thereotical framework for our research. If our time is more flexible, we will develop this studies and overcome the limitation to...
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