Bài viết tiến hành nghiên cứu nhằm chỉ ra những hạn chế trong mô hình này và đề xuất một số giải pháp nhằm nâng cấp mô hình hiện tại sao cho phù hợp với thông lệ trên thế giới về quản lý nợ công theo trình độ phát triển của nền kinh tế. | VNU Journal of Science Policy and Management Studies Vol. 37 No. 1 2021 22-35 Review Article Models of Public Debt Management in the World and Lessons for Vietnam Pham Xuan Truong Faculty of International Economics Foreign Trade University 91 Chua Lang Dong Da Hanoi Vietnam Received 17 November 2020 Revised 25 November 2020 Accepted 03 December 2020 Abstract Vietnam embarked on fundamentally building a public debt management system since 2009 as the Law of Public Debt Management was designed and promulgated. From then Vietnam has been following the typical model of public debt management used by developing countries the market based model which encompasses gradual building and completion of domestic market for government bond. However because of several limitations in the national system of public debt management the current model needs to be improved in alignment with the development level of Vietnam s economy. Especially economic shocks such as the 2009 financial crisis or Covid 19 which has increased dramatically the scope of public debt also urge a more technical and effective model. The paper focuses on analyzing the practical models of public debt management in the world and subsequently the current situation of Vietnam s model. On that basis the author figures out the limitations of the model and proposes a number of solutions to upgrade the model in accordance with the international practice regarding model of public debt management suitable with development level of economy. Keywords Public debt sustainable public debt public debt management risk management model of public debt management. ____ Corresponding author. Email address truongpx@ https 2588-1116 22 . Truong VNU Journal of Science Policy and Management Studies Vol. 37 No. 1 2021 22-35 23 Các mô hình quản lý nợ công trên thế giới và hàm ý chính sách cho Việt Nam Phạm Xuân Trường Khoa Kinh tế Quốc tế Trường Đại học Ngoại Thương 91 Chùa Láng Đống Đa Hà .
