{"id":21539,"date":"2023-12-06T02:46:05","date_gmt":"2023-12-06T02:46:05","guid":{"rendered":"https:\/\/masterskills.org\/blog\/tham-hut-kep-la-gi-moi-quan-he-giua-tham-hut-kep-va-vang.html"},"modified":"2023-12-06T02:46:05","modified_gmt":"2023-12-06T02:46:05","slug":"tham-hut-kep-la-gi-moi-quan-he-giua-tham-hut-kep-va-vang","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/tham-hut-kep-la-gi-moi-quan-he-giua-tham-hut-kep-va-vang.html","title":{"rendered":"Th\u00e2m h\u1ee5t k\u00e9p l\u00e0 g\u00ec? M\u1ed1i quan h\u1ec7 gi\u1eefa th\u00e2m h\u1ee5t k\u00e9p v\u00e0 v\u00e0ng"},"content":{"rendered":"
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Trong kinh t\u1ebf h\u1ecdc, th\u00e2m h\u1ee5t k\u00e9p l\u00e0 g\u00ec? Gi\u1ea3 thuy\u1ebft th\u00e2m h\u1ee5t k\u00e9p hay hi\u1ec7n t\u01b0\u1ee3ng th\u00e2m h\u1ee5t k\u00e9p l\u00e0 nh\u1eadn \u0111\u1ecbnh c\u00f3 m\u1ed1i li\u00ean h\u1ec7 nh\u00e2n qu\u1ea3 ch\u1eb7t ch\u1ebd gi\u1eefa c\u00e1n c\u00e2n ng\u00e2n s\u00e1ch v\u00e0 c\u00e1n c\u00e2n t\u00e0i kho\u1ea3n v\u00e3ng lai c\u1ee7a qu\u1ed1c gia \u0111\u00f3.<\/p>\n

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\u201cTh\u00e2m h\u1ee5t k\u00e9p x\u1ea3y ra khi m\u1ed9t qu\u1ed1c gia v\u1eeba th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai v\u1eeba th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch. B\u1ea1n c\u0169ng c\u00f3 th\u1ec3 g\u1ecdi th\u00e2m h\u1ee5t k\u00e9p l\u00e0 twin deficit ho\u1eb7c double deficit.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n

\u0110\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n th\u00e2m h\u1ee5t k\u00e9p l\u00e0 g\u00ec, h\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u v\u1ec1 th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch v\u00e0 th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai.<\/p>\n

Th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch<\/strong><\/span><\/h2>\n

Th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 th\u00e2m h\u1ee5t t\u00e0i kh\u00f3a. N\u00f3 x\u1ea3y ra khi chi ph\u00ed c\u1ee7a m\u1ed9t qu\u1ed1c gia v\u01b0\u1ee3t qu\u00e1 doanh thu c\u1ee7a qu\u1ed1c gia \u0111\u00f3. Th\u00e2m h\u1ee5t c\u00f3 v\u1ebb kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t s\u1ef1 ph\u00e1t tri\u1ec3n t\u00edch c\u1ef1c cho m\u1ed9t n\u1ec1n kinh t\u1ebf.<\/p>\n

Tuy nhi\u00ean, m\u1ed9t s\u1ed1 ng\u01b0\u1eddi cho r\u1eb1ng c\u1ea7n ph\u1ea3i th\u00fac \u0111\u1ea9y m\u1ed9t n\u1ec1n kinh t\u1ebf \u0111ang tr\u00ec tr\u1ec7. M\u1ed9t qu\u1ed1c gia \u0111ang suy tho\u00e1i th\u01b0\u1eddng c\u00f3 m\u1ee9c chi ti\u00eau th\u00e2m h\u1ee5t do t\u00e0i tr\u1ee3 cho c\u00e1c d\u1ef1 \u00e1n c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng (thu\u00ea nh\u00e2n c\u00f4ng, t\u0103ng l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p v\u00e0 x\u00e2y d\u1ef1ng c\u00e1c m\u1ea1ng l\u01b0\u1edbi quan tr\u1ecdng cho th\u01b0\u01a1ng m\u1ea1i).<\/p>\n

Ch\u00ednh ph\u1ee7 c\u00f3 th\u1ec3 t\u00e0i tr\u1ee3 cho c\u00e1c d\u1ef1 \u00e1n n\u00e0y b\u1eb1ng c\u00e1ch ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0. Tr\u00ean th\u1ef1c t\u1ebf, nh\u1eefng ng\u01b0\u1eddi mua tr\u00e1i phi\u1ebfu n\u00e0y \u0111ang cho ch\u00ednh ph\u1ee7 vay ti\u1ec1n. Khi ch\u00ednh ph\u1ee7 tr\u1ea3 n\u1ee3, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c ti\u1ec1n g\u1ed1c c\u1ee7a h\u1ecd c\u1ed9ng v\u1edbi ti\u1ec1n l\u00e3i c\u1ee7a kho\u1ea3n vay. Nh\u1eefng tr\u00e1i phi\u1ebfu n\u00e0y \u0111\u01b0\u1ee3c coi l\u00e0 an to\u00e0n n\u1ebfu n\u00f3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh b\u1edfi m\u1ed9t ch\u00ednh ph\u1ee7 \u1ed5n \u0111\u1ecbnh v\u00ec kh\u1ea3 n\u0103ng in ti\u1ec1n ho\u1eb7c t\u0103ng thu\u1ebf \u0111\u1ec3 t\u1ea1o doanh thu.<\/p>\n

Tuy nhi\u00ean, n\u1ebfu c\u00e1c ch\u00ednh ph\u1ee7 kh\u00f4ng h\u00e0nh \u0111\u1ed9ng c\u00f3 tr\u00e1ch nhi\u1ec7m s\u1ebd d\u1eabn \u0111\u1ebfn chi ti\u00eau qu\u00e1 nhi\u1ec1u v\u00e0 cu\u1ed1i c\u00f9ng l\u00e0 in qu\u00e1 nhi\u1ec1u ti\u1ec1n g\u00e2y ra si\u00eau l\u1ea1m ph\u00e1t.<\/p>\n

Th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai<\/strong><\/span><\/h2>\n

Th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai x\u1ea3y ra khi m\u1ed9t qu\u1ed1c gia nh\u1eadp kh\u1ea9u nhi\u1ec1u h\u01a1n xu\u1ea5t kh\u1ea9u. Nhi\u1ec1u ng\u01b0\u1eddi cho r\u1eb1ng th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai l\u00e0 kh\u00f4ng t\u1ed1t cho n\u1ec1n kinh t\u1ebf nh\u01b0ng c\u00e2u chuy\u1ec7n n\u00e0o c\u0169ng c\u00f3 hai m\u1eb7t. Quan \u0111i\u1ec3m v\u1ec1 c\u00e1n c\u00e2n th\u01b0\u01a1ng m\u1ea1i c\u1ee7a m\u1ed9t qu\u1ed1c gia c\u00f3 li\u00ean quan \u0111\u1ebfn n\u1ec1n kinh t\u1ebf v\u00e0 chu k\u1ef3 kinh doanh.<\/p>\n

V\u00ed d\u1ee5, m\u1ed9t qu\u1ed1c gia \u0111ang suy tho\u00e1i s\u1ebd th\u1ea5y r\u1eb1ng xu\u1ea5t kh\u1ea9u c\u00f3 th\u1ec3 t\u1ea1o ra vi\u1ec7c l\u00e0m. Trong qu\u00e1 tr\u00ecnh m\u1edf r\u1ed9ng kinh t\u1ebf, nh\u1eadp kh\u1ea9u g\u00e2y ra s\u1ef1 c\u1ea1nh tranh v\u1ec1 gi\u00e1, \u0111i\u1ec1u n\u00e0y gi\u00fap cho l\u1ea1m ph\u00e1t c\u00f3 th\u1ec3 ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c. Nh\u1eadp si\u00eau v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 m\u1ed9t tin x\u1ea5u trong th\u1eddi k\u1ef3 suy tho\u00e1i nh\u01b0ng n\u00f3 c\u00f3 th\u1ec3 h\u1eefu \u00edch khi m\u1ed9t n\u1ec1n kinh t\u1ebf \u0111ang m\u1edf r\u1ed9ng.<\/p>\n

C\u0169ng c\u1ea7n l\u01b0u \u00fd r\u1eb1ng c\u00e1c qu\u1ed1c gia c\u00f3 th\u1ec3 th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai ng\u1eafn h\u1ea1n n\u1ebfu n\u01b0\u1edbc n\u00e0y nh\u1eadp kh\u1ea9u c\u00e1c s\u1ea3n ph\u1ea9m d\u1edf dang (1). M\u1ed9t khi nh\u1eefng s\u1ea3n ph\u1ea9m n\u00e0y \u0111\u01b0\u1ee3c xu\u1ea5t kh\u1ea9u, th\u00e2m h\u1ee5t c\u00f3 th\u1ec3 chuy\u1ec3n th\u00e0nh th\u1eb7ng d\u01b0.<\/p>\n

(1) S\u1ea3n ph\u1ea9m d\u1edf dang l\u00e0 nh\u1eefng s\u1ea3n ph\u1ea9m ch\u01b0a k\u1ebft th\u00fac giai \u0111o\u1ea1n s\u1ea3n xu\u1ea5t cu\u1ed1i c\u00f9ng trong doanh nghi\u1ec7p \u0111\u1ec3 tr\u1edf th\u00e0nh th\u00e0nh ph\u1ea9m.<\/p>\n

Th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai r\u1ea5t ph\u1ee9c t\u1ea1p<\/strong><\/span><\/h2>\n

Nh\u01b0ng c\u0169ng gi\u1ed1ng nh\u01b0 th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch, s\u1ef1 th\u1eadt v\u1ec1 t\u00e0i kho\u1ea3n v\u00e3ng lai kh\u00f4ng \u0111\u01a1n gi\u1ea3n nh\u01b0 v\u1eady. Tr\u00ean th\u1ef1c t\u1ebf, th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai c\u00f3 th\u1ec3 ph\u1ea3n \u00e1nh r\u1eb1ng m\u1ed9t qu\u1ed1c gia l\u00e0 \u0111i\u1ec3m h\u1ea5p d\u1eabn \u0111\u1ec3 \u0111\u1ea7u t\u01b0. C\u00f3 th\u1ec3 th\u1ea5y c\u00e1c n\u1ec1n kinh t\u1ebf ti\u00ean ti\u1ebfn th\u01b0\u1eddng th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai, trong khi c\u00e1c n\u1ec1n kinh t\u1ebf \u0111ang ph\u00e1t tri\u1ec3n th\u01b0\u1eddng th\u1eb7ng d\u01b0.<\/p>\n

Gi\u1ea3 thuy\u1ebft th\u00e2m h\u1ee5t k\u00e9p<\/strong><\/span><\/h2>\n

Trong gi\u1ea3 thuy\u1ebft th\u00e2m h\u1ee5t k\u00e9p, c\u00e1c nh\u00e0 kinh t\u1ebf nh\u1eadn th\u1ea5y c\u00f3 m\u1ed1i li\u00ean h\u1ec7 gi\u1eefa th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch l\u1edbn v\u1edbi th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai l\u1edbn. \u00a0<\/p>\n

Logic \u0111\u1eb1ng sau \u0111\u00f3 l\u00e0 vi\u1ec7c c\u1eaft gi\u1ea3m thu\u1ebf l\u00e0m t\u0103ng th\u00e2m h\u1ee5t v\u00e0 gi\u1ea3m doanh thu d\u1eabn \u0111\u1ebfn t\u0103ng ti\u00eau d\u00f9ng. Chi ti\u00eau n\u00e0y l\u00e0m gi\u1ea3m t\u1ef7 l\u1ec7 ti\u1ebft ki\u1ec7m qu\u1ed1c gia, l\u00e0m t\u0103ng s\u1ed1 ti\u1ec1n m\u00e0 m\u1ed9t qu\u1ed1c gia ph\u1ea3i vay t\u1eeb c\u00e1c qu\u1ed1c gia kh\u00e1c. Tuy nhi\u00ean, th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch v\u00e0 th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai ch\u1ec9 l\u00e0 hai ph\u1ea7n c\u1ee7a v\u1ea5n \u0111\u1ec1. C\u00f3 nhi\u1ec1u y\u1ebfu t\u1ed1 kh\u00e1c x\u00e1c \u0111\u1ecbnh t\u00ecnh h\u00ecnh t\u00e0i kh\u00f3a c\u1ee7a m\u1ed9t qu\u1ed1c gia.<\/p>\n

Th\u00e2m h\u1ee5t k\u00e9p x\u1ea3y ra khi m\u1ed9t qu\u1ed1c gia v\u1eeba th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai v\u1eeba th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch. Khi m\u1ed9t qu\u1ed1c gia th\u00e2m h\u1ee5t k\u00e9p, th\u00ec qu\u1ed1c gia \u0111\u00f3 s\u1ebd l\u00e0 con n\u1ee3 \u0111\u1ed1i v\u1edbi ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a th\u1ebf gi\u1edbi. V\u1ec1 d\u00e0i h\u1ea1n, th\u00e2m h\u1ee5t k\u00e9p c\u00f3 th\u1ec3 khi\u1ebfn \u0111\u1ed3ng ti\u1ec1n c\u1ee7a qu\u1ed1c gia m\u1ea5t gi\u00e1 v\u00e0 l\u00e3i su\u1ea5t trong n\u01b0\u1edbc cao h\u01a1n.<\/p>\n

Th\u00e2m h\u1ee5t k\u00e9p v\u00e0 v\u00e0ng<\/strong><\/span><\/h2>\n

Th\u00e2m h\u1ee5t k\u00e9p c\u00f3 th\u1ec3 l\u00e0m gi\u1ea3m ni\u1ec1m tin v\u00e0o n\u1ec1n kinh t\u1ebf v\u00e0 do \u0111\u00f3 th\u00fac \u0111\u1ea9y nhu c\u1ea7u tr\u00fa \u1ea9n an to\u00e0n \u0111\u1ed1i v\u1edbi v\u00e0ng. T\u00ecnh h\u00ecnh ng\u00e2n s\u00e1ch x\u1ea5u \u0111i \u0111\u00e3 x\u00f3a b\u1ecf ni\u1ec1m tin c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o n\u1ec1n kinh t\u1ebf. Khi \u0111\u1ea7u t\u01b0 v\u00e0o qu\u1ed1c gia \u0111\u00f3 tr\u1edf n\u00ean r\u1ee7i ro h\u01a1n v\u00e0 \u0111\u1ed3ng ti\u1ec1n m\u1ea5t gi\u00e1, v\u00e0ng b\u1eaft \u0111\u1ea7u \u0111\u1ee3t ph\u1ee5c h\u1ed3i l\u1edbn. Do \u0111\u00f3, v\u00e0ng c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t n\u01a1i tr\u00fa \u1ea9n an to\u00e0n tuy\u1ec7t v\u1eddi ch\u1ed1ng l\u1ea1i t\u00ecnh tr\u1ea1ng thi\u1ebfu tr\u00e1ch nhi\u1ec7m ng\u00e2n s\u00e1ch, s\u1ef1 gia t\u0103ng r\u1ee7i ro qu\u1ed1c gia v\u00e0 th\u00e2m h\u1ee5t k\u00e9p.<\/p>\n

T\u00f3m l\u1ea1i, th\u00e2m h\u1ee5t k\u00e9p l\u00e0 g\u00ec? \u0110\u00f3 l\u00e0 thu\u1eadt ng\u1eef trong kinh t\u1ebf h\u1ecdc d\u00f9ng \u0111\u1ec3 ch\u1ec9 ng\u00e2n s\u00e1ch trong n\u01b0\u1edbc v\u00e0 t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh ngo\u1ea1i th\u01b0\u01a1ng c\u1ee7a m\u1ed9t qu\u1ed1c gia. Thu\u1eadt ng\u1eef n\u00e0y tr\u1edf n\u00ean ph\u1ed5 bi\u1ebfn v\u00e0o nh\u1eefng n\u0103m 1980 v\u00e0 1990 \u1edf Hoa K\u1ef3 khi \u0111\u1ea5t n\u01b0\u1edbc n\u00e0y tr\u1ea3i qua th\u00e2m h\u1ee5t trong c\u1ea3 hai l\u0129nh v\u1ef1c. T\u00e1c \u0111\u1ed9ng c\u1ee7a th\u00e2m h\u1ee5t k\u00e9p c\u00f3 th\u1ec3 g\u00e2y b\u1ea5t l\u1ee3i, v\u00ec m\u1ed7i th\u00e2m h\u1ee5t c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng l\u1edbn \u0111\u1ebfn c\u00e1c kh\u00eda c\u1ea1nh c\u00f2n l\u1ea1i, khi\u1ebfn tri\u1ec3n v\u1ecdng kinh t\u1ebf c\u1ee7a m\u1ed9t qu\u1ed1c gia tr\u1edf n\u00ean x\u1ea5u \u0111i.<\/p>\n

Tr\u00e2m Nguy\u1ec5n<\/strong><\/p>\n

<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Trong kinh t\u1ebf h\u1ecdc, th\u00e2m h\u1ee5t k\u00e9p l\u00e0 g\u00ec? Gi\u1ea3 thuy\u1ebft th\u00e2m h\u1ee5t k\u00e9p hay hi\u1ec7n t\u01b0\u1ee3ng th\u00e2m h\u1ee5t k\u00e9p l\u00e0 nh\u1eadn \u0111\u1ecbnh c\u00f3 m\u1ed1i li\u00ean h\u1ec7 nh\u00e2n qu\u1ea3 ch\u1eb7t ch\u1ebd gi\u1eefa c\u00e1n c\u00e2n ng\u00e2n s\u00e1ch v\u00e0 c\u00e1n c\u00e2n t\u00e0i kho\u1ea3n v\u00e3ng lai c\u1ee7a qu\u1ed1c gia \u0111\u00f3.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[429],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21539"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=21539"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21539\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=21539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=21539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=21539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}