Lu~n van da thong qua cac CCY sa ly lu~n va phan tich thBng ke dS xem xet mbi quan h~ gifra kiSu hBi va tang tru&ng, ciing nhu S\f tuang tac cua kiSu hBi v&i phat triSn tai chinh len tang tru&ng 4ti nu&c tiSp nh~n kiSu hBi. BAng vi~c su d1,1ng ca s6 du li~u m&i dugc c~p nh~t cua 40 qu6c gia dang phat triSn c6 thu
nh~p th&p va trung binh giai do~n tir 1995-2012, nghien c(ru da chi ra rAng, t~i
cac qubc gia dang phat triSn vm h~ thbng tai chinh chua phat triSn m~nh me thi kiSu hBi khong c6 tac d9ng thuc d~y tang tru&ng di len, hay n6i dung han la kiSu hBi dang c6 anh huang keo tang tru&ng di xubng vi nhiSu ly do c6 thS kS ra nhu
h~ thBng tai chinh chua phat triSn, cac nu&c dang phat triSn chua thay d6i dugc bim ch&t cua kiSu hBi tir dong tiSn cho tieu dung sang dong tiSn cho dftu tu, v&n
dS rui ro d~o due do S\f y l~i vao ngufin kiSu hBi rna khong chiu tich C\fC lao d9ng, ... Nghien c(ru da su dvng mo hinh SGMM dS khAc phvc dugc hi~n tugng n9i sinh cua kisu hbi va phat trisn tai chinh, tir do dua ra nhiing kSt qua hfii quy dang tin tu&ng va cung khong phai m&t qua nhisu thm gian dS kiSm dinh.
Tuy nhien, bai nghien CUu ciing chua m6 r9ng dugc cit ca cac kenh rna thong qua do rna kisu hbi co ths tac d9ng dsn tang tru&ng rna no chi bo http · trong ph~m vi 4 ySu tb dugc chQn dS d~i di~n cho phat triSn tai chinh hay nhfrng v&n dS suy lu~ c6 lien quan dSn rui ro d~o due v&n chua c6 bAng chll'ng th\fc
nghi~m dS chll'ng minh rna chi tren CCY sa suy lu~n tir ly thuySt va tiSp thu tir nhfrng nghien c(ru tru&c day.
Du v~y, day ciing la m9t dS tai nghien c(ru thu vi vS v&n dS n6ng h6i 6 cac nu&c dang phat triSn v&i nhfrng ca sa du li~u c~p nh~t m&i nh&t. V &i mvc tieu danh gia dugc ban ch&t va tAm quan trQng cua ngufin kiSu hBi trong S\f tang tru&ng cua
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cac qudc gia dang phat triSn thi bai nghien Clru nay cling da ph~n nao tiSp c~n
dugc g~n han v&i nhCing b~ng chlffig thvc nghi~m co clm vi mo vS each thuc rna kiSu hdi va phat triSn tai chinh tac d9ng dSn S\f thuc dfty tang truang. Mong r~ng
v&i nhfing kSt qua thvc nghi~m thu dugc nay se gop m9t ph~ -y nghia nao do vao nhfing tai li~u tham khao khi nghien Clru vS kiSu hBi .
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