GREEN ECONOMY WITH ECONOMIC GROWTH AND PER CAPITA INCOME IN VIETNAM

Abstract

Objective: The objective of this study is to investigate the green economy with economic growth and per capita income in Vietnam, to analyze the quantitative relationship among those factors, and to improve long-term green economic development in Vietnam towards sustainable national economic growth. Theoretical Framework: In this topic, the main concepts and theories that underpin the research are presented. The inverted U-shaped model of Kuznets; Green economy concept and regression model stand out, providing a solid basis for understanding the context of the investigation. Method: The methodology adopted for this research comprises desk research methods to clarify the theoretical basis of green economy, economic growth, and per capita income; qualitative research methods; and quantitative research methods. Data collection was carried out through the collection of time-series data: Real Gross Domestic Product (GDP), Gross Domestic Product per capita (GDPP), and CO2 emissions from 1995 to 2022 from the World Bank website. Results and Discussion: The results obtained revealed the positive relationship between economic growth, CO2 emissions, and per capita income in the short term; however, in the long term, when GDP as well as per capita income reach a certain threshold. The level of waste gradually decreases and environmental quality improves. In the discussion section, these results are contextualized in light of the theoretical framework, highlighting the implications and relationships identified. Possible discrepancies and limitations of the study are also considered in this section. Research Implications: The practical and theoretical implications of this research are discussed, providing insights into how the results can be applied or influence practices in the field of development economics. These implications could encompass many sectors, especially the processing industry. Originality/Value: This study contributes to the literature by Simon Kuznets - economic growth is not a threat, but rather a means to improve the environment in the future. The relevance and value of this research are evidenced by contributing one more case in Vietnam which approves Kuznets curve on the environment and thus is the basis for future research on this urgent problem all over the world.