Abstract: This research investigates the impacts of the financial market on the economic growth in Vietnam. It uses quantitative research methods with 242 participants, including scale testing, KMO testing and Bartlett’s test, Exploratory factor analysis, Confirmatory factor analysis, hypothesis testing and regression analysis. The data is analyzed using SPSS and ANOVA. The findings show that the financial market (consisting of the stock market, foreign exchange market, derivatives market and credit market) does influence economic growth (in terms of production increase, real income increase, economic restructuring, investment and technological development, and improved social welfare). To be more specific, the stock exchange has the biggest impact on economic growth with ß = 0.226. In the authors’ opinion, it is necessary to strengthen the legal framework through update, adjustment and supplement to balance the growth in the banking and non-banking sectors, promote the development of the insurance market, venture capital and microeconomic institutions, raise the awareness of finance and approaches to diversify financial sources for businesses and individuals, improve transparency in the stock market, and innovate business administration to attract more domestic and foreign investments.

Keywords: Financial Markets, Economic Growth, Banking Sector, Stock Market, Credit Market, Foreign Exchange Market, Derivatives Market

Pages: 1825-1838