{"id":1279,"date":"2019-01-17T16:22:20","date_gmt":"2019-01-17T16:22:20","guid":{"rendered":"https:\/\/blog.ngocha.biz\/?p=1279"},"modified":"2026-05-27T18:21:33","modified_gmt":"2026-05-27T18:21:33","slug":"tac-dong-cua-lam-phat-va-giam-phat","status":"publish","type":"post","link":"https:\/\/blog.ngocha.biz\/?p=1279","title":{"rendered":"T\u00e1c \u0111\u1ed9ng c\u1ee7a L\u1ea1m ph\u00e1t v\u00e0 Gi\u1ea3m ph\u00e1t (P5 -TTCK)"},"content":{"rendered":"

L\u1ea1m ph\u00e1t v\u00e0 gi\u1ea3m ph\u00e1t l\u00e0 s\u1ea3n ph\u1ea9m c\u1ee7a n\u1ec1n v\u0103n minh nh\u00e2n lo\u1ea1i. Ch\u1eafc ch\u1ec9 c\u00f3 th\u1eddi h\u00e0ng \u0111\u1ed5i h\u00e0ng th\u00ec m\u1edbi kh\u00f4ng c\u00f3 kh\u00e1i ni\u1ec7m l\u1ea1m ph\u00e1t c\u00f2n sau \u0111\u00f3 l\u00e0 v\u1ecf \u1ed1c, v\u1ecf s\u00f2, v\u00e0ng b\u1ea1c,.. v\u00e0 cu\u1ed1i c\u00f9ng l\u00e0 ti\u1ec1n gi\u1ea5y c\u1ee7a ch\u00ednh ph\u1ee7 th\u00ec \u0111\u1ec1u g\u1eb7p ph\u1ea3i hai t\u00ecnh hu\u1ed1ng n\u00e0y.<\/p>\n

Trong c\u1ea3 t\u00ecnh hu\u1ed1ng l\u1ea1m ph\u00e1t v\u00e0 gi\u1ea3m ph\u00e1t th\u00ec \u0111\u1ec1u c\u00f3 l\u1ee3i v\u00e0 h\u1ea1i; \u0111\u1ec1u c\u00f3 h\u00ecnh th\u1ee9c \u0111\u1ea7u t\u01b0 cho ph\u00f9 h\u1ee3p. Tr\u01b0\u1edbc h\u1ebft c\u1ea7n hi\u1ec3u v\u1ec1 hai kh\u00e1i ni\u1ec7m n\u00e0y m\u1ed9t c\u00e1ch r\u00f5 r\u00e0ng.<\/p>\n

M\u00f4 h\u00ecnh gi\u1ea3n \u0111\u01a1n<\/span><\/h1>\n

X\u00e9t m\u1ed9t m\u00f4 h\u00ecnh kinh t\u1ebf gi\u1ea3n \u0111\u01a1n, \u1edf tr\u1ea1ng th\u00e1i ban \u0111\u1ea7u ch\u1ec9 c\u00f3 1 c\u00f4ng nh\u00e2n v\u00e0 1 \u00f4ng ch\u1ee7 l\u00f2 b\u00e1nh m\u1ef3. H\u00e0ng ng\u00e0y ng\u01b0\u1eddi c\u00f4ng nh\u00e2n \u0111i l\u00e0m t\u1eeb s\u00e1ng v\u00e0 t\u1edbi t\u1ed1i l\u00fac ra v\u1ec1 \u0111\u01b0\u1ee3c tr\u1ea3 c\u00f4ng l\u00e0 10 c\u00e1i b\u00e1nh m\u1ef3. Ng\u01b0\u1eddi c\u00f4ng nh\u00e2n c\u00f3 th\u1ec3 d\u00f9ng b\u00e1nh m\u1ef3 \u0111\u1ec3 \u0111\u1ed5i c\u00e1c h\u00e0ng h\u00f3a kh\u00e1c nh\u01b0 l\u00e0 tr\u1ea3 1 c\u00e1i b\u00e1nh m\u1ef3 cho anh grap \u0111\u00e3 c\u00f3 c\u00f4ng tr\u1edf anh ta v\u1ec1 nh\u00e0; 1 c\u00e1i b\u00e1nh cho tr\u01b0\u1eddng n\u01a1i con anh ta h\u1ecdc,…\u0110\u00e2y l\u00e0 h\u00ecnh th\u1ee9c h\u00e0ng \u0111\u1ed5i h\u00e0ng.<\/p>\n

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M\u00f4 h\u00ecnh n\u1ec1n kinh t\u1ebf ch\u1ec9 c\u00f3 1 anh th\u1ee3 l\u00e0m b\u00e1nh v\u00e0 1 anh ch\u1ee7 l\u00f2 b\u00e1nh m\u1ef3 n\u01a1i anh th\u1ee3 l\u00e0m<\/figcaption><\/figure>\n<\/div>\n

B\u00e1nh m\u1ef3 kh\u00f4ng \u0111\u1ec3 qua ng\u00e0y \u0111\u01b0\u1ee3c v\u00ec v\u1eady anh ta ki\u1ebfm \u0111\u01b0\u1ee3c 10 c\u00e1i b\u00e1nh v\u00e0 c\u0169ng ti\u00eau 10 c\u00e1i b\u00e1nh trong c\u00f9ng m\u1ed9t ng\u00e0y. T\u1ea5t c\u1ea3 c\u00e1c th\u00e0nh ph\u1ea7n li\u00ean quan kh\u00e1c v\u1edbi hai \u0111\u1ed1i t\u01b0\u1ee3ng tr\u00ean \u0111\u1ec1u \u0111\u01b0\u1ee3c nh\u1eadn \u0111\u01b0\u1ee3c b\u00e1nh m\u1ef3 l\u00e0m trong ng\u00e0y v\u00e0 ti\u00eau d\u00f9ng h\u1ebft trong ng\u00e0y.<\/p>\n

Gi\u1edd trong m\u00f4 h\u00ecnh n\u00e0y ta th\u00eam ti\u1ec1n; c\u00f3 100.000 \u0111\u1ed3ng trong l\u01b0u th\u00f4ng. Ng\u01b0\u1eddi c\u00f4ng nh\u00e2n s\u00e1ng t\u1edbi l\u00e0m vi\u1ec7c v\u00e0 chi\u1ec1u t\u1ed1i khi \u0111i v\u1ec1 \u0111\u01b0\u1ee3c tr\u1ea3 100.000 \u0111\u1ed3ng. Gi\u1ea3 \u0111\u1ecbnh r\u1eb1ng anh ta d\u00f9ng lu\u00f4n 100.000\u0111 n\u00e0y \u0111\u1ec3 mua 10 c\u00e1i b\u00e1nh m\u1ef3. C\u1ee9 nh\u01b0 v\u1eady ng\u00e0y n\u00e0y qua ng\u00e0y kh\u00e1c, 100.000 \u0111 \u0111\u00f3 \u0111\u01b0\u1ee3c trao \u0111\u1ed5i \u0111i trao \u0111\u1ed5i l\u1ea1i; m\u1ed7i c\u00e1i b\u00e1nh m\u1ef3 gi\u00e1 10.000\u0111. Ti\u1ec1n gi\u00fap cho vi\u1ec7c trao \u0111\u1ed5i v\u1edbi nh\u1eefng ng\u01b0\u1eddi kh\u00e1c trong n\u1ec1n kinh t\u1ebf d\u1ec5 d\u00e0ng h\u01a1n r\u1ea5t nhi\u1ec1u so v\u1edbi b\u00e1nh m\u1ef3.<\/p>\n

T\u00ecnh hu\u1ed1ng 1: Gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng<\/strong><\/span><\/h1>\n

M\u1ed9t ng\u00e0y \u0111\u1eb9p tr\u1eddi anh c\u00f4ng nh\u00e2n th\u1ea5y r\u1eb1ng kh\u00f4ng c\u1ea7n ph\u1ea3i mua 10 c\u00e1i m\u00e0 ch\u1ec9 c\u1ea7n mua 5 c\u00e1i n\u00ean anh ta mua c\u1ee7a anh ch\u1ee7 l\u00f2 5 c\u00e1i v\u1edbi gi\u00e1 50.000\u0111. \u1ede ng\u00e0y \u0111\u1ea7u ti\u00ean c\u00f3 h\u00e0nh vi \u0111\u00f3, m\u1ed7i b\u00ean c\u00f2n l\u1ea1i 50.000\u0111. \u00d4ng ch\u1ee7 l\u00f2 b\u1ecb h\u1ecfng 5 c\u00e1i b\u00e1nh m\u1ef3 ng\u00e0y \u0111\u1ea7u ti\u00ean v\u00ec v\u1eady quy\u1ebft \u0111\u1ecbnh gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng v\u00e0o ng\u00e0y k\u1ebf ti\u1ebfp t\u1eeb 10 xu\u1ed1ng c\u00f2n 5 c\u00e1i v\u00e0 \u0111\u00e0m ph\u00e1n tr\u1ea3 l\u01b0\u01a1ng cho anh c\u00f4ng nh\u1eadn l\u00e0 50.000\u0111. S\u1ea3n l\u01b0\u1ee3ng l\u00fac n\u00e0y l\u00e0 5 c\u00e1i b\u00e1nh m\u1ef3\/ng\u00e0y; gi\u1ea3m 50% so v\u1edbi tr\u01b0\u1edbc \u0111\u00e2y v\u00e0 ch\u1eb3ng ai \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i c\u1ea3 (GDP t\u0103ng -50% thay v\u00ec 0% tr\u01b0\u1edbc \u0111\u00e2y). Trong th\u1ef1c t\u1ebf, kinh t\u1ebf \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi chi ti\u00eau; chi ti\u00eau nhi\u1ec1u d\u1eabn t\u1edbi s\u1ea3n l\u01b0\u1ee3ng s\u1ea3n xu\u1ea5t ra nhi\u1ec1u. \u0110\u1ee9ng v\u1ec1 m\u1eb7t t\u1ed5ng th\u1ec3 th\u00ec ch\u00ednh ph\u1ee7 c\u1ea7n k\u00edch th\u00edch ng\u01b0\u1eddi ti\u00eau d\u00f9ng ng\u00e0y c\u00e0ng ti\u00eau d\u00f9ng nhi\u1ec1u h\u01a1n; c\u00f2n \u0111\u1ee9ng \u1edf v\u1ecb tr\u00ed c\u00e1 nh\u00e2n th\u00ec b\u1ea1n n\u00ean ti\u00eau d\u00f9ng \u00edt \u0111i nh\u1eb1m t\u0103ng ti\u1ebft ki\u1ec7m; mi\u1ec5n l\u00e0 c\u1ea3 n\u1ec1n kinh t\u1ebf kh\u00f4ng b\u1eaft ch\u01b0\u1edbc b\u1ea1n l\u00e0 \u0111\u01b0\u1ee3c.<\/p>\n

\u00d4ng ch\u1ee7 ch\u1ec9 c\u00f3 th\u1ec3 b\u00e1n h\u00e0ng cho anh c\u00f4ng nh\u00e2n v\u00e0 anh c\u00f4ng nh\u00e2n c\u0169ng ch\u1ec9 mua b\u00e1nh m\u1ef3 c\u1ee7a \u00f4ng ch\u1ee7 trong khi \u0111\u00f3 ti\u1ec1n trong l\u01b0u th\u00f4ng c\u00f3 nh\u1eefng 100.000\u0111. M\u1ed9t ng\u00e0y \u0111\u1eb9p tr\u1eddi l\u01b0\u01a1ng c\u1ee7a anh c\u00f4ng nh\u00e2n s\u1ebd t\u0103ng l\u00ean 100.000\u0111 v\u00e0 m\u1ed7i c\u00e1i b\u00e1nh m\u1ef3 s\u1ebd c\u00f3 gi\u00e1 20.000\u0111. Do c\u1ea7u ti\u1ec1n gi\u1ea3m trong khi cung ti\u1ec1n v\u1eabn v\u1eady n\u00ean d\u1eabn t\u1edbi l\u1ea1m ph\u00e1t.<\/p>\n

T\u00ecnh hu\u1ed1ng 2: L\u1ea1m ph\u00e1t<\/strong><\/span><\/h1>\n

M\u00f4 h\u00ecnh \u0111\u1ed9c quy\u1ec1n b\u00e1n<\/a> v\u00e0 mua<\/a> nh\u01b0 t\u00ecnh hu\u1ed1ng 1 \u00edt x\u1ea3y ra. Th\u1ef1c t\u1ebf s\u1ebd c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi ti\u00eau d\u00f9ng v\u00e0 c\u0169ng c\u00f3 nhi\u1ec1u nh\u00e0 s\u1ea3n xu\u1ea5t.<\/p>\n

Gi\u1edd ta b\u1ed5 sung v\u00e0o m\u00f4 h\u00ecnh 1 anh c\u00f4ng nh\u00e2n B (anh \u0111\u1ea7u t\u00ean l\u00e0 A) v\u00e0 t\u1ed5ng ti\u1ec1n trong l\u01b0u th\u00f4ng l\u00e0 200.000\u0111. Hai anh n\u00e0y l\u00e0m vi\u1ec7c cho \u00f4ng ch\u1ee7 l\u00f2 nh\u1eadn l\u01b0\u01a1ng m\u1ed7i ng\u01b0\u1eddi 100.000\u0111; t\u1edbi chi\u1ec1u t\u1ed1i tr\u01b0\u1edbc khi \u0111i v\u1ec1 c\u1ea3 hai l\u1ea1i ti\u00eau h\u1ebft v\u00e0o ….b\u00e1nh m\u1ef3 (m\u1ed7i ng\u01b0\u1eddi 10 c\u00e1i). Ng\u01b0\u1eddi ch\u1ee7 l\u00fac n\u00e0y l\u00e0 \u0111\u1ed9c quy\u1ec1n b\u00e1n trong khi anh ta c\u00f3 v\u1ecb th\u1ebf cao h\u01a1n \u1edf v\u1ecb tr\u00ed mua. Anh ta c\u00f3 nh\u1eefng 2 ng\u01b0\u1eddi lao \u0111\u1ed9ng v\u00e0 c\u00f3 th\u1ec3 d\u00f9ng s\u1ef1 c\u1ea1nh tranh c\u1ee7a h\u1ecd \u0111\u1ec3 thu l\u1ee3i cho m\u00ecnh.<\/p>\n

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L\u1ea1m ph\u00e1t do c\u1ea7u ti\u1ec1n gi\u1ea3m v\u00ec gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng nh\u01b0ng cung ti\u1ec1n kh\u00f4ng \u0111\u1ed5i<\/figcaption><\/figure>\n<\/div>\n

M\u1ed9t ng\u00e0y anh th\u1ea5y r\u1eb1ng n\u1ebfu m\u00ecnh t\u0103ng gi\u00e1 b\u00e1nh m\u1ef3 v\u00e0 gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng s\u1ea3n xu\u1ea5t ra th\u00ec \u1ebd c\u00f3 l\u00e3i h\u01a1n. Anh ta gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng t\u1ed5ng t\u1eeb 20 xu\u1ed1ng c\u00f2n 10 c\u00e1i, t\u0103ng gi\u00e1 b\u00e1n l\u00ean 20.000\/c\u00e1i (l\u1ea1m ph\u00e1t 100%). V\u1edbi 10 c\u00e1i s\u1ea3n l\u01b0\u1ee3ng, A v\u00e0 B ph\u1ea3i c\u1ea1nh tranh nhau v\u1ec1 gi\u00e1 \u0111\u00e0nh ch\u1ea5p nh\u1eadn mua v\u1edbi gi\u00e1 20.000\u0111\/c\u00e1i. N\u1ebfu c\u1ea3 hai A v\u00e0 B c\u00f9ng \u0111\u1ed3ng th\u1eddi kh\u00f4ng mua th\u00ec c\u00f3 th\u1ec3 \u00e9p \u00f4ng ch\u1ee7 b\u00e1nh m\u1ef3 nh\u01b0ng trong n\u1ec1n kinh t\u1ebf c\u00f3 r\u1ea5t nhi\u1ec1u ng\u01b0\u1eddi ti\u00eau d\u00f9ng r\u1eddi r\u1ea1c, h\u1ecd kh\u00f4ng th\u1ec3 ng\u1ed3i th\u1ecfa thu\u1eadn \u0111\u01b0\u1ee3c v\u1edbi nhau.<\/p>\n

N\u1ebfu ch\u00ednh ph\u1ee7 gi\u1ea3m cung ti\u1ec1n t\u1eeb 200.000 xu\u1ed1ng 100.000\u0111 th\u00ec gi\u00e1 s\u1ebd l\u1ea1i \u0111i\u1ec1u ch\u1ec9nh t\u1eeb 20.000\u0111\/c\u00e1i v\u1ec1 10.000\u0111\/c\u00e1i. C\u00f3 v\u1ebb nh\u01b0 l\u1ea1m ph\u00e1t l\u00fac n\u00e0y l\u00e0 0% nh\u01b0ng GDP th\u1ef1c t\u1ebf v\u1eabn gi\u1ea3m 50% (t\u1eeb m\u1ee9c 20 c\u00e1i\/ng\u00e0y xu\u1ed1ng 10 c\u00e1i\/ng\u00e0y). V\u00ec v\u1eady ch\u1ec9 s\u1ed1 l\u1ea1m ph\u00e1t lu\u00f4n ph\u1ea3i \u0111i k\u00e8m v\u1edbi ch\u1ec9 s\u1ed1 GDP. L\u00fd t\u01b0\u1edfng nh\u1ea5t l\u00e0 GDP t\u0103ng v\u00e0 l\u1ea1m ph\u00e1t gi\u1ea3m (trong v\u00f9ng cho ph\u00e9p t\u1eeb 2 t\u1edbi 3% v\u00ec th\u1ea5p h\u01a1n l\u00e0 d\u1ea5u hi\u1ec7u c\u1ee7a gi\u1ea3m ph\u00e1t).<\/p>\n

T\u00ecnh hu\u1ed1ng 3: Gi\u1ea3m ph\u00e1t <\/strong><\/span><\/h1>\n

Ch\u00fang ta th\u1ea5y r\u1ea5t nhi\u1ec1u s\u1ea3n ph\u1ea9m ng\u00e0y nay c\u00f3 xu h\u01b0\u1edbng r\u1ebb h\u01a1n so v\u1edbi tr\u01b0\u1edbc \u0111\u00e2y, \u0111i\u1ec3n h\u00ecnh nh\u01b0 \u0111i\u1ec7n tho\u1ea1i th\u00f4ng minh. Nguy\u00ean nh\u00e2n l\u00e0 do c\u00f3 s\u1ef1 tham gia c\u1ee7a nhi\u1ec1u nh\u00e0 s\u1ea3n xu\u1ea5t khi\u1ebfn h\u1ecd c\u1ea1nh tranh v\u1edbi nhau. T\u01b0\u01a1ng t\u1ef1 v\u1edbi t\u00ecnh hu\u1ed1ng \u00f4 t\u00f4 c\u0169ng v\u1eady, \u00f4 t\u00f4 c\u0169ng c\u00f3 xu h\u01b0\u1edbng ng\u00e0y c\u00e0ng r\u1ebb h\u01a1n do s\u1ef1 c\u1ea1nh tranh khi Vinfast gia nh\u1eadp th\u1ecb tr\u01b0\u1eddng v\u00e0 r\u1ea5t c\u00f3 th\u1ebf m\u1ea1nh \u1edf TT trong n\u01b0\u1edbc. V\u1eady r\u1ebb h\u01a1n ph\u1ea3i l\u00e0 t\u1ed1t ch\u1ee9?<\/p>\n

Quay l\u1ea1i m\u00f4 h\u00ecnh ban \u0111\u1ea7u gi\u1edd b\u1ed5 sung th\u00eam 1 \u00f4ng ch\u1ee7 b\u00e1nh m\u1ef3. \u00d4ng ch\u1ee7 n\u00e0y v\u1eeba gia nh\u1eadp th\u1ecb tr\u01b0\u1eddng v\u1ed1n \u0111ang c\u00e2n b\u1eb1ng \u1edf m\u1ee9c gi\u00e1 10.000\u0111\/c\u00e1i. \u00d4ng ch\u1ee7 m\u1edbi n\u00e0y mu\u1ed1n b\u00e1n \u0111\u01b0\u1ee3c b\u00e1nh m\u1ef3 th\u00ec gi\u00e1 ph\u1ea3i r\u1ebb h\u01a1n v\u00ec v\u1eady \u00f4ng gi\u1ea3m gi\u00e1 8000\u0111\/c\u00e1i. \u00d4ng ch\u1ee7 ban \u0111\u1ea7u th\u1ea5y v\u1eady c\u0169ng ph\u1ea3i gi\u1ea3m gi\u00e1 theo; d\u1ea7n d\u1ea7n th\u00ec m\u1ee9c gi\u00e1 cho m\u1ed7i c\u00e1i b\u00e1nh m\u1ef3 ch\u1ec9 c\u00f2n 5000\u0111\/c\u00e1i. M\u1eb7c d\u00f9 c\u1ea7u ti\u1ec1n gi\u1ea3m xu\u1ed1ng, cung ti\u1ec1n v\u1eabn v\u1eady nh\u01b0ng m\u1ee9c gi\u00e1 kh\u00f4ng t\u0103ng. Trong n\u1ec1n kinh t\u1ebf th\u1ef1c t\u1ebf c\u00f3 r\u1ea5t nhi\u1ec1u h\u00e0ng h\u00f3a d\u1ecbch v\u1ee5, v\u00ed d\u1ee5 nh\u01b0 gi\u00e1 \u0111i\u1ec7n gi\u1ea3m xu\u1ed1ng th\u00ec ti\u1ec1n th\u1eeba \u0111\u00f3 \u0111\u01b0\u1ee3c ng\u01b0\u1eddi ti\u00eau d\u00f9ng mua h\u00e0ng h\u00f3a d\u1ecbch v\u1ee5 kh\u00e1c ho\u1eb7c \u0111\u1ec3 ti\u1ebft ki\u1ec7m.<\/p>\n

Hai \u00f4ng ch\u1ee7 b\u00e1nh m\u1ef3 b\u00e1n gi\u00e1 kh\u00f4ng \u0111\u1ee7 chi ph\u00ed d\u1eabn t\u1edbi m\u1ed9t \u00f4ng n\u00e0o \u0111\u00f3 s\u1ebd r\u1eddi b\u1ecf th\u1ecb tr\u01b0\u1eddng. V\u1edbi t\u00ecnh hu\u1ed1ng gi\u00e1 \u00f4 t\u00f4 gi\u1ea3m, ng\u01b0\u1eddi ti\u00eau d\u00f9ng c\u00f3 xu h\u01b0\u1edbng ng\u1ed3i \u0111\u1ee3i \u00f4 t\u00f4 gi\u1ea3m th\u00eam r\u1ed3i m\u1edbi mua d\u1eabn t\u1edbi chi ti\u00eau gi\u1ea3m;<\/strong> chi ti\u00eau gi\u1ea3m th\u00ec s\u1ea3n l\u01b0\u1ee3ng gi\u1ea3m. V\u1eady gi\u00e1 gi\u1ea3m (gi\u1ea3m ph\u00e1t) th\u01b0\u1eddng \u0111i k\u00e8m v\u1edbi s\u1ea3n l\u01b0\u1ee3ng gi\u1ea3m (GDP gi\u1ea3m). M\u00e0 s\u1ea3n l\u01b0\u1ee3ng gi\u1ea3m th\u00ec ch\u1eb3ng ai \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i c\u1ea3, ng\u01b0\u1eddi ti\u00eau d\u00f9ng c\u0169ng l\u00e0 ng\u01b0\u1eddi lao \u0111\u1ed9ng, thu nh\u1eadp c\u1ee7a h\u1ecd c\u0169ng gi\u1ea3m v\u00ec doanh nghi\u1ec7p b\u00e1n \u0111\u01b0\u1ee3c \u00edt h\u00e0ng h\u00f3a h\u01a1n.<\/p>\n

1.\u0110\u1ea7u t\u01b0 trong th\u1eddi k\u1ef3 l\u1ea1m ph\u00e1t t\u0103ng cao<\/strong><\/span><\/h1>\n

M\u1ed9t m\u1ee9c l\u1ea1m ph\u00e1t \u1edf 2% l\u00e0 v\u1eeba \u0111\u1ee7, gi\u00fap cho ng\u01b0\u1eddi mua ch\u1ea5p nh\u1eadn \u0111\u01b0\u1ee3c m\u1ee9c gi\u00e1 t\u0103ng v\u00e0 gi\u00fap cho ng\u01b0\u1eddi lao \u0111\u1ed9ng c\u1ea3m th\u1ea5y t\u01b0\u01a1i \u0111\u1eb9p khi l\u01b0\u01a1ng t\u0103ng. L\u01b0\u01a1ng anh c\u00f4ng nh\u00e2n A t\u0103ng t\u1eeb 100.000\u0111 l\u00ean 200.000\u0111 v\u00e0 gi\u00e1 b\u00e1nh m\u1ef3 t\u1eeb 10.000 l\u00ean 20.000\u0111 th\u00ec anh ta s\u1ebd v\u1eabn vui h\u01a1n l\u00e0 vi\u1ec7c l\u01b0\u01a1ng v\u00e0 gi\u00e1 gi\u1eef nguy\u00ean ho\u1eb7c l\u01b0\u01a1ng 50.000 v\u1edbi gi\u00e1 b\u00e1nh m\u1ef3 5000\u0111.<\/p>\n

M\u1ed9t m\u1ee9c l\u1ea1m ph\u00e1t cao th\u01b0\u1eddng s\u1ebd k\u00edch th\u00edch ng\u01b0\u1eddi ta ti\u00eau tr\u01b0\u1edbc tr\u1ea3 sau. Gi\u1ea3 \u0111\u1ecbnh b\u1ea1n bi\u1ebft r\u1eb1ng ti\u1ec1n s\u1ebd m\u1ea5t gi\u00e1 50% t\u1eeb nay t\u1edbi 2020 th\u00ec b\u1ea1n s\u1ebd vay 10 t\u1ef7 \u0111\u1ec3 mua m\u1ed9t m\u1ea3nh \u0111\u1ea5t; t\u1edbi n\u0103m 2020 th\u00ec c\u0103n nh\u00e0 \u0111\u00f3 \u0111\u00e3 x\u1ea5p x\u1ec9 20 t\u1ef7 trong khi b\u1ea1n ch\u1ec9 ph\u1ea3i tr\u1ea3 v\u1ed1n 10 t\u1ef7 + l\u00e3i 10% (nh\u1edb vay theo th\u1eddi gian d\u00e0i v\u00e0 l\u00e3i c\u1ed1 \u0111\u1ecbnh l\u00fac vay). N\u1ebfu b\u1ea1n cho r\u1eb1ng l\u00e0m g\u00ec c\u00f3 chuy\u1ec7n b\u1ea5t h\u1ee3p l\u00fd \u0111\u00f3 th\u00ec h\u00e3y nh\u00ecn giai \u0111o\u1ea1n 2007 t\u1edbi 2012 khi m\u00e0 l\u1ea1m ph\u00e1t m\u1ed7i n\u0103m \u0111\u1ec1u \u1edf m\u1ee9c tr\u00ean 12%.<\/p>\n

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L\u1ea1m ph\u00e1t giai \u0111o\u1ea1n 2006-2011 \u1edf m\u1ee9c r\u1ea5t cao<\/figcaption><\/figure>\n<\/div>\n

L\u1ea1m ph\u00e1t l\u00e0 c\u00e2n b\u1eb1ng c\u1ee7a cung c\u1ea7u ti\u1ec1n, gi\u1ed1ng nh\u01b0 hai l\u01b0\u1ee1i c\u1ee7a m\u1ed9t c\u00e1i k\u00e9o. Ch\u00ednh ph\u1ee7 qu\u1ea3n l\u00fd cung ti\u1ec1n, m\u1ed9t l\u01b0\u1ee1i k\u00e9o. \u1ede l\u01b0\u1ee1i c\u00f2n l\u1ea1i ch\u00ednh ph\u1ee7 ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c chi ti\u00eau ch\u00ednh ph\u1ee7 (ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a) v\u00e0 ki\u1ec3m so\u00e1t c\u00e1c th\u00e0nh ph\u1ea7n kh\u00e1c b\u1eb1ng ch\u00ednh s\u00e1ch h\u00e0nh ch\u00ednh. V\u00ed d\u1ee5 ch\u00ednh ph\u1ee7 c\u00f3 th\u1ec3 gi\u1ea3m thu\u1ebf thu nh\u1eadp DN k\u00edch th\u00edch DN s\u1ea3n xu\u1ea5t nhi\u1ec1u h\u01a1n \u1edf m\u1ed9t l\u0129nh v\u1ef1c \u01b0u ti\u00ean n\u00e0o \u0111\u00f3. V\u1eady l\u1ea1m ph\u00e1t l\u00e0 do ch\u00ednh ph\u1ee7 quy\u1ebft \u0111\u1ecbnh ph\u1ea7n l\u1edbn. Nh\u01b0ng ch\u00ednh ph\u1ee7 \u0111\u00f4i khi ph\u1ea3i hy sinh l\u1ea1m ph\u00e1t \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c GDP, n\u1edbi l\u1ecfng ti\u1ec1n t\u1ec7 th\u01b0\u1eddng c\u00f3 t\u00e1c \u0111\u1ed9ng th\u00fac \u0111\u1ea9y s\u1ea3n xu\u1ea5t kinh doanh v\u00ec ti\u00eau d\u00f9ng nhi\u1ec1u h\u01a1n.<\/p>\n

Ch\u00ednh ph\u1ee7 qu\u1ea3n l\u00fd cung ti\u1ec1n th\u00f4ng qua h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng b\u1eb1ng c\u00e1c ch\u00ednh s\u00e1ch n\u1edbi l\u1ecfng ho\u1eb7c th\u1eaft ch\u1eb7t. N\u1edbi l\u1ecfng l\u00e0 khi ch\u00ednh ph\u1ee7 gi\u1ea3m l\u00e3i su\u1ea5t, gi\u1ea3m t\u1ef7 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c, t\u0103ng h\u1ea1n m\u1ee9c d\u01b0 n\u1ee3 t\u00edn d\u1ee5ng<\/a>, b\u00e1n tr\u00e1i phi\u1ebfu,…v\u00e0 th\u1eaft ch\u1eb7t l\u00e0 khi l\u00e0m ng\u01b0\u1ee3c l\u1ea1i.<\/p>\n

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\"This<\/figure>\n<\/div>\n

Cung ti\u1ec1n trong giai \u0111o\u1ea1n 2009-2012 c\u00f3 s\u1ef1 n\u1edbi l\u1ecfng qu\u00e1 m\u1ee9c l\u00e0 m\u1ed9t trong nh\u1eefng nguy\u00ean nh\u00e2n ch\u00ednh d\u1eabn \u0111\u1ebfn l\u1ea1m ph\u00e1t cao \u1edf n\u01b0\u1edbc ta. N\u1ebfu nh\u01b0 n\u0103m 2000 t\u1ed5ng ph\u01b0\u01a1ng ti\u1ec7n thanh to\u00e1n (M2) c\u1ee7a Vi\u1ec7t Nam ch\u1ec9 \u1edf m\u1ee9c d\u01b0\u1edbi 60% GDP, th\u00ec \u0111\u1ebfn cu\u1ed1i n\u0103m 2010 \u0111\u00e3 l\u00ean \u0111\u1ebfn tr\u00ean 130% GDP (t\u1ed5ng d\u01b0 n\u1ee3 t\u00edn d\u1ee5ng tr\u00ean 110% GDP).\u00a0<\/p>\n

T\u1ed1c \u0111\u1ed9 t\u0103ng cung ti\u1ec1n cao h\u01a1n t\u1ed1c \u0111\u1ed9 t\u0103ng GDP theo gi\u00e1 th\u1ef1c t\u1ebf \u0111\u00e3 t\u1ed3n t\u1ea1i trong th\u1eddi gian d\u00e0i. V\u00e0o n\u0103m 2007, t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng M2 l\u00e0 43,7%, t\u00edn d\u1ee5ng l\u00e0 53,9%; m\u1ee9c t\u0103ng k\u1ef7 l\u1ee5c n\u00e0y l\u00e0 m\u1ed9t trong nh\u1eefng nguy\u00ean nh\u00e2n quan tr\u1ecdng g\u00e2y ra l\u1ea1m ph\u00e1t cao v\u00e0o n\u0103m 2008. \u0110\u1ebfn n\u0103m 2009 v\u00e0 2010, t\u0103ng tr\u01b0\u1edfng M2 v\u00e0 t\u00edn d\u1ee5ng l\u1ea1i t\u0103ng l\u00ean m\u1ee9c kho\u1ea3ng 30%\/n\u0103m, \u0111\u00e3 d\u1eabn \u0111\u1ebfn l\u1ea1m ph\u00e1t n\u0103m 2010 v\u00e0 2011 l\u1ea1i b\u1ecb \u0111\u1ea9y l\u00ean cao.<\/p>\n

\u00a0\u0110\u1ea7u 2006 v\u1edbi m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng, ch\u00ednh ph\u1ee7 t\u0103ng chi ti\u00eau ch\u00ednh ph\u1ee7 th\u1ec3 hi\u1ec7n b\u1eb1ng n\u1ee3 c\u00f4ng giai \u0111o\u1ea1n n\u00e0y t\u0103ng t\u1eeb 24 t\u1ef7 usd n\u0103m 2006 l\u00ean 48 t\u1ef7 USD n\u0103m 2011<\/p>\n

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Ti\u1ec1n \u0111\u01b0\u1ee3c \u0111\u1ea9y v\u00e0o n\u1ec1n kinh t\u1ebf th\u00f4ng qua mua s\u1eafm c\u00f4ng c\u1ee7a ch\u00ednh ph\u1ee7. Ng\u01b0\u1eddi d\u00e2n c\u00f3 thu nh\u1eadp cao h\u01a1n, h\u1ecd d\u00f9ng ti\u1ec1n \u0111\u00f3 \u0111\u1ec3 ti\u00eau s\u00e0i, \u0111\u1ea7u t\u01b0 ho\u1eb7c g\u1eedi v\u00e0o ng\u00e2n h\u00e0ng. Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n t\u1eeb gi\u1eefa 2006 b\u1eaft \u0111\u1ea7u t\u1eeb m\u1ee9c 300 \u0111i\u1ec3m l\u00ean t\u1eadn g\u1ea7n con s\u1ed1 1200 \u0111i\u1ec3m. N\u00f3i chung kh\u00f4ng ch\u1ec9 TTCK m\u00e0 t\u1ea5t c\u1ea3 t\u00e0i s\u1ea3n \u0111\u1ec1u b\u1ecb th\u1ed5i bong b\u00f3ng l\u00ean g\u1ea5p nhi\u1ec1u gi\u00e1 tr\u1ecb th\u1ef1c. 2008 b\u1eaft \u0111\u1ea7u c\u00e1c t\u00e0i s\u1ea3n v\u1ee1 v\u00e0 TTCK c\u0169ng v\u1ee1 theo gi\u1ea3m v\u1ec1 m\u1ee9c ban \u0111\u1ea7u.<\/p>\n

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Bi\u1ebfn \u0111\u1ed9ng c\u1ee7a VNindex trong giai \u0111o\u1ea1n l\u1ea1m ph\u00e1t 2006-2011<\/figcaption><\/figure>\n

Nh\u01b0 v\u1eady c\u00f3 th\u1ec3 t\u00e1ch th\u1eddi k\u1ef3 l\u1ea1m ph\u00e1t phi m\u00e3 ra l\u00e0m ba giai \u0111o\u1ea1n. \u1ede giai \u0111o\u1ea1n b\u1eaft \u0111\u1ea7u c\u00f3 d\u1ea5u hi\u1ec7u l\u1ea1m ph\u00e1t kh\u00f4ng th\u1ec3 ki\u1ec3m so\u00e1t, c\u1ea7n t\u00edch l\u0169y t\u00e0i s\u1ea3n v\u1eadt ch\u1ea5t v\u00ed d\u1ee5 nh\u01b0 v\u00e0ng, nh\u00e0 \u0111\u1ea5t,..Tr\u00ean TTCK th\u00ec ch\u1ecdn c\u00e1c DN m\u00e0 t\u00e0i s\u1ea3n c\u1ee7a n\u00f3 s\u1ebd t\u0103ng l\u00ean v\u00ed d\u1ee5 DN b\u1ea5t \u0111\u1ed9ng s\u1ea3n, c\u00e1c DN \u0111\u1ea7u ng\u00e0nh (n\u00f3i chung th\u00ec DN n\u00e0o c\u0169ng s\u1ebd t\u0103ng \u0111i\u1ec3m khi th\u1ecb tr\u01b0\u1eddng chung t\u0103ng \u0111i\u1ec3m). Trong gi\u1eefa th\u1eddi k\u1ef3 c\u1ee7a l\u1ea1m ph\u00e1t phi m\u00e3 vi\u1ec7c b\u1ea1n b\u00e1n m\u1ed9t t\u00e0i s\u1ea3n n\u00e0y v\u00e0 mua m\u1ed9t t\u00e0i s\u1ea3n kh\u00e1c n\u1ebfu kh\u00f4ng c\u1ea9n th\u1eadn c\u00f3 th\u1ec3 v\u1eabn thi\u1ec7t v\u00ec b\u00e1n cao nh\u01b0ng mua c\u0169ng cao. Th\u01b0\u1eddng th\u00ec giai \u0111o\u1ea1n n\u00e0y l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng c\u0169ng cao khi ch\u00ednh ph\u1ee7 n\u1ed7 l\u1ef1c gi\u1ea3m cung ti\u1ec1n v\u00e0 NH th\u00ec kh\u00f4ng c\u00f3 ti\u1ec1n \u0111\u1ec3 cho vay do ng\u01b0\u1eddi d\u00e2n \u0111ang trong c\u01a1n l\u1ed1c ti\u00eau d\u00f9ng v\u00e0 \u0111\u1ea7u t\u01b0. Khi \u0111\u00e3 b\u00e1n t\u00e0i s\u1ea3n v\u00e0 chuy\u1ec3n sang ti\u1ec1n th\u00ec kh\u00f4ng quay l\u1ea1i th\u1ecb tr\u01b0\u1eddng n\u1eefa, \u0111\u1ee3i cho t\u1edbi khi bong b\u00f3ng v\u1ee1 v\u00e0 t\u00e0i s\u1ea3n v\u1ec1 th\u1ea5p h\u01a1n gi\u00e1 tr\u1ecb th\u1ef1c, l\u00e0 l\u00fac l\u1ea1i mua t\u00e0i s\u1ea3n.<\/p>\n

2. \u0110\u1ea7u t\u01b0 trong th\u1eddi k\u1ef3 gi\u1ea3m ph\u00e1t<\/strong><\/span><\/h1>\n

M\u1ee9c l\u1ea1m ph\u00e1t d\u01b0\u1edbi 2% \u0111\u01b0\u1ee3c coi l\u00e0 gi\u1ea3m ph\u00e1t. B\u1ea3n th\u00e2n vi\u1ec7c gi\u00e1 h\u00e0ng h\u00f3a\/d\u1ecbch v\u1ee5 gi\u1ea3m kh\u00f4ng ph\u1ea3i l\u00e0 x\u1ea5u nh\u01b0ng n\u00f3 l\u00e0 d\u1ea5u hi\u1ec7u cho th\u1ea5y chi ti\u00eau \u0111ang gi\u1eef nguy\u00ean ho\u1eb7c gi\u1ea3m. M\u00e0 chi ti\u00eau gi\u1eef nguy\u00ean ho\u1eb7c gi\u1ea3m th\u00ec s\u1ea3n l\u01b0\u1ee3ng (GDP) c\u0169ng v\u1eady. R\u1ea5t nhi\u1ec1u ngu\u1ed3n l\u1ef1c trong x\u00e3 h\u1ed9i s\u1ebd kh\u00f4ng \u0111\u01b0\u1ee3c d\u00f9ng h\u1ebft c\u00f4ng su\u1ea5t: m\u00e1y m\u00f3c b\u1ecb b\u1ecf kh\u00f4ng, ng\u01b0\u1eddi lao \u0111\u1ed9ng kh\u00f4ng c\u00f3 vi\u1ec7c l\u00e0m, ti\u1ec1n nh\u00e0n r\u1ed7i g\u1eedi ng\u00e2n h\u00e0ng v\u1edbi l\u00e3i su\u1ea5t b\u1eb1ng 0 m\u00e0 v\u1eabn c\u00f3 ng\u01b0\u1eddi g\u1eedi.<\/p>\n

Gi\u1ea3m ph\u00e1t c\u00f3 l\u1ebd ch\u1ec9 th\u1ea5y \u1edf c\u00e1c n\u01b0\u1edbc ph\u00e1t tri\u1ec3n ki\u1ec3u nh\u01b0 Nh\u1eadt khi m\u00e0 c\u00e1c ngu\u1ed3n l\u1ef1c \u0111\u1ec1u \u0111\u00e3 khai th\u00e1c t\u1edbi ng\u01b0\u1ee1ng ho\u1eb7c xu h\u01b0\u1edbng gi\u1ea3m. \u1ede Vi\u1ec7t Nam ch\u1eafc c\u00f2n l\u00e2u ta m\u1edbi r\u01a1i v\u00e0o t\u00ecnh tr\u1ea1ng n\u00e0y. C\u0169ng t\u01b0\u01a1ng t\u1ef1 nh\u01b0 l\u1ea1m ph\u00e1t, ch\u00ednh ph\u1ee7 c\u00f3 th\u1ec3 ki\u1ec3m so\u00e1t m\u1ed9t ph\u1ea7n l\u1edbn b\u1eb1ng c\u00e1ch t\u0103ng cung ti\u1ec1n ho\u1eb7c t\u0103ng chi ti\u00eau ch\u00ednh ph\u1ee7.<\/p>\n

Ng\u00e0y 16\/12\/2008, FED \u0111\u01b0a l\u00e3i su\u1ea5t v\u1ec1 m\u1ee9c 0% (ch\u1eafc n\u1ebfu c\u00f3 l\u00e3i su\u1ea5t \u00e2m th\u00ec FED c\u0169ng l\u00e0m) \u0111\u1ec3 th\u00fac \u0111\u1ea9y n\u1ec1n kinh t\u1ebf M\u1ef9. V\u00e0 t\u1eeb 2015 t\u0103ng t\u1eeb t\u1eeb t\u1edbi 2018 l\u00e0 1,5%; c\u00f2n n\u0103m 2018 t\u0103ng lu\u00f4n 4 l\u1ea7n l\u00ean 2,5%.<\/p>\n

H\u00e3y t\u01b0\u1edfng t\u01b0\u1ee3ng m\u1ed9t n\u1ec1n kinh t\u1ebf ng\u1ee7 g\u00e0 ng\u1ee7 g\u1eadt, c\u1ee9 b\u00ecnh b\u00ecnh \u0111\u1ec1u \u0111\u1ec1u. B\u1ea1n mua m\u1ed9t c\u0103n nh\u00e0 v\u00e0 th\u1ea5y nh\u00e0 c\u1ee9 gi\u1ea3m \u0111i; cho thu\u00ea th\u00ec n\u0103m t\u1edbi l\u1ea1i ph\u1ea3i \u0111\u00e0m ph\u00e1n v\u1edbi b\u00ean thu\u00ea gi\u1ea3m gi\u00e1 thu\u00ea (thay v\u00ec t\u0103ng). T\u1ea5t c\u1ea3 t\u00e0i s\u1ea3n \u0111\u1ec1u gi\u1eef nguy\u00ean ho\u1eb7c gi\u1ea3m \u0111i; l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng l\u00fac \u0111\u00f3 c\u0169ng s\u1ebd s\u00e1t m\u1ee9c 0%. T\u00fam l\u1ea1i b\u1ea1n gi\u1eef c\u1ee7a c\u1ea3i \u1edf d\u1ea1ng h\u00ecnh th\u00e1i g\u00ec c\u0169ng kh\u00f4ng khi\u1ebfn n\u00f3 sinh s\u00f4i. C\u00f3 th\u1ec3 n\u1ebfu t\u00e0i s\u1ea3n b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p trong khi l\u00e3i su\u1ea5t vay ng\u00e2n h\u00e0ng v\u1ec1 m\u1ee9c g\u1ea7n 0% th\u00ec vay ti\u1ec1n ng\u00e2n h\u00e0ng d\u00e0i h\u1ea1n v\u1edbi l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh \u0111\u1ec3 mua t\u00e0i s\u1ea3n nh\u01b0 nh\u00e0 \u0111\u1ea5t \u0111\u1ec3 cho thu\u00ea, v\u00e0 sau n\u00e0y c\u00f3 th\u1ec3 b\u00e1n khi n\u1ec1n kinh t\u1ebf tho\u00e1t kh\u1ecfi gi\u1ea3m ph\u00e1t.<\/p>\n

V\u1ec1 nguy\u00ean t\u1eafc ti\u1ec1n ph\u1ea3i \u0111\u1ed5 v\u1ec1 m\u1ed9t lo\u1ea1i t\u00e0i s\u1ea3n n\u00e0o \u0111\u00f3. N\u1ebfu nh\u01b0 nh\u1eefng ng\u01b0\u1eddi c\u00f3 ti\u1ec1n th\u1ea5y g\u1eedi ng\u00e2n h\u00e0ng kh\u00f4ng l\u00e3i nhi\u1ec1u, th\u1ecb tr\u01b0\u1eddng nh\u00e0 \u0111\u1ea5t th\u00ec \u00e8o \u1ecdt th\u00ec s\u1ebd \u0111\u1ed5 ti\u1ec1n v\u00e0o th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n n\u01a1i c\u00e1c doanh nghi\u1ec7p v\u1eabn tr\u1ea3 c\u1ed5 t\u1ee9c. C\u00e1c doanh nghi\u1ec7p tr\u00ean TTCK c\u00f3 th\u1ec3 \u0111ang kinh doanh \u1edf n\u01b0\u1edbc ngo\u00e0i, c\u00f3 th\u1ecb tr\u01b0\u1eddng xu\u1ea5t kh\u1ea9u r\u1ed9ng ki\u1ec3u nh\u01b0 Apple c\u1ee7a M\u1ef9 n\u00ean n\u00f3 v\u1eabn c\u00f3 l\u1ee3i nhu\u1eadn t\u1ed1t. Tr\u00e1nh c\u00e1c doanh nghi\u1ec7p c\u00f3 th\u1ecb tr\u01b0\u1eddng ch\u1ee7 y\u1ebfu trong n\u01b0\u1edbc v\u00ec h\u1ecd b\u1ecb \u1ea3nh h\u01b0\u1edfng b\u1edfi chi ti\u00eau trong n\u01b0\u1edbc.<\/p>\n

Trong giai \u0111o\u1ea1n gi\u1ea3m ph\u00e1t, t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p s\u1ebd c\u00f3 xu h\u01b0\u1edbng t\u0103ng \u0111\u1eb7c bi\u1ec7t l\u00e0 gi\u1edbi tr\u1ebb khi m\u00e0 kinh nghi\u1ec7m ch\u01b0a c\u00f3 g\u00ec. Nh\u1eefng ng\u01b0\u1eddi ph\u1ee5 thu\u1ed9c v\u00e0o thu nh\u1eadp s\u1ebd th\u1ea5y m\u1ee9c l\u01b0\u01a1ng m\u00ecnh gi\u1ea3m nh\u01b0ng v\u00ec gi\u00e1 h\u00e0ng h\u00f3a c\u0169ng gi\u1ea3m n\u00ean nh\u1eefng ai c\u00f3 vi\u1ec7c kh\u00f4ng b\u1ecb \u1ea3nh h\u01b0\u1edfng nhi\u1ec1u v\u1ec1 m\u1ee9c s\u1ed1ng nh\u01b0ng lu\u1ed1n \u0111\u1ee9ng tr\u01b0\u1edbc nguy c\u01a1 b\u1ecb thay th\u1ebf b\u1edfi nh\u1eefng ng\u01b0\u1eddi th\u1ea5t nghi\u1ec7p tr\u00ean th\u1ecb tr\u01b0\u1eddng s\u1eb5n s\u00e0ng nh\u1eadn m\u1ee9c l\u01b0\u01a1ng th\u1ea5p h\u01a1n.<\/p>\n

T\u00f3m l\u1ea1i l\u1ea1m ph\u00e1t l\u00e0 m\u1ed9t ch\u1ec9 s\u1ed1 r\u1ea5t quan tr\u1ecdng c\u1ee7a kinh t\u1ebf v\u0129 m\u00f4 b\u00ean c\u1ea1nh t\u1ed5ng s\u1ea3n ph\u1ea9m qu\u1ed1c n\u1ed9i GDP, t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p. L\u1ea1m ph\u00e1t l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a vi\u1ec7c t\u0103ng cung ti\u1ec1n ho\u1eb7c t\u0103ng chi ti\u00eau ch\u00ednh ph\u1ee7. Ch\u00ednh ph\u1ee7 t\u0103ng cung ti\u1ec1n th\u00f4ng qua ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 n\u1edbi l\u1ecfng b\u1edfi c\u00e1c ch\u1ec9 s\u1ed1 l\u00e3i ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng (l\u00e3i su\u1ea5t), d\u1ef1 n\u1ee3 t\u00edn d\u1ee5ng, t\u0103ng gi\u1ea3m c\u1ee7a d\u1ef1 tr\u1eef ngo\u1ea1i t\u1ec7,….Th\u00f4ng qua l\u1ea1m ph\u00e1t v\u00e0 GDP, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 bi\u1ebft \u0111\u01b0\u1ee3c n\u1ec1n kinh t\u1ebf \u0111ang trong giai \u0111o\u1ea1n n\u00e0o. N\u1ec1n kinh t\u1ebf bi\u1ebfn \u0111\u1ed5i theo chu k\u1ef3 5 n\u0103m, 10 n\u0103m ho\u1eb7c cao h\u01a1n n\u00ean c\u0169ng \u0111\u00f2i h\u1ecfi t\u1ea7m nh\u00ecn c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 xa h\u01a1n v\u00e0 c\u0169ng ph\u1ea3i ki\u00ean nh\u1eabn h\u01a1n.<\/p>\n

\n

Ngu\u1ed3n:<\/strong> T\u00e1c \u0111\u1ed9ng c\u1ee7a L\u1ea1m ph\u00e1t v\u00e0 Gi\u1ea3m ph\u00e1t (P5 -TTCK) \u2014 chienluocsong.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: https:\/\/chienluocsong.com\/tac-dong-cua-lam-phat-va-giam-phat\/<\/p>\n","protected":false},"author":1,"featured_media":1280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chienluocsong"],"_links":{"self":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts\/1279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1279"}],"version-history":[{"count":1,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts\/1279\/revisions"}],"predecessor-version":[{"id":1527,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/posts\/1279\/revisions\/1527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=\/wp\/v2\/media\/1280"}],"wp:attachment":[{"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.ngocha.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}