Financial Strategies for Rural Development: Lessons from Japan and South Korea for Vietnam

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Cao Minh Tien

Abstract

: This research article aims to investigate the financial strategies employed in the context of rural development in Japan and South Korea, with the objective of drawing valuable lessons for Vietnam. The study was conducted through direct surveys of households in nine districts spanning two provinces, Thanh Hoa and Nghe An, Vietnam, during the period from 2018 to 2022. The research utilized various methodological approaches, including investigative and survey methods, analytical synthesis, statistical analysis, and comparative analysis. The authors provide in-depth insights and propose practical solutions for addressing financial challenges in the context of rural development. These solutions encompass three key aspects: direct budgetary support, local budgetary resources, and integrated funding from programs and projects. To alleviate the burden on the state budget in implementing the national rural development program in the future, the following recommendations are made: reforming investment management decentralization, enhancing transparency in budget allocation and implementing support mechanisms. This research aims to contribute valuable insights into sustainable financial practices for rural development, benefiting not only Vietnam but also other countries facing similar challenges.

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How to Cite
Cao Minh Tien. (2023). Financial Strategies for Rural Development: Lessons from Japan and South Korea for Vietnam. European Economic Letters (EEL), 13(4), 1033–1042. https://doi.org/10.52783/eel.v13i4.700
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