Growth In Vietnam Research Articles

Ecosystem service value in the context of urbanization: comparison among economic-social regions of Vietnam

Urbanization is one of the important features of socio-economic development and it has a major impact on the value of ecosystem services (ESV). This study aims to quantify ESV for the entire country of Vietnam with the research unit being 6 socio-economic regions. This can be considered the first study in Vietnam to quantify the ESV for the entire country. The study calculated the annual urban land growth index (AI) and the annual urban land expansion rate (AER) to determine the urbanization status in the six study areas. The study collected input data from JAXA for four years: 1990, 2000, 2010, and 2020. Research results show that urban land area tended to increase and forest land area decreased sharply. The AI and AER indicated that the period 2000–2010 was a period of rapid growth in Vietnam. Meanwhile, the ESV for all of Vietnam increased year by year. The period 2000–2010 witnessed a growth in ESV about 2.35 times higher than the period 1990–2000, and about 0.1% lower than the period 2010–2020. Overall, MKD was the region showing strong growth in ESV from 1990 to 2020. Compared to that, NMR was the region with the largest decline in the 20 years from 1990 to 2010, and CHR in the past 10 years. This research contributes to enriching reference sources for Vietnamese and world researchers to have a broader view of ESV as well as the annual urban growth rate in Vietnam from 1990 to 2020.

The Impacts of Monetary and Fiscal Policies on Economic Growth in Vietnam

The Impacts of Monetary and Fiscal Policies on Economic Growth in Vietnam

The effect of manufacturing growth in Vietnam: the test of Kaldor's first law

The effect of manufacturing growth in Vietnam: the test of Kaldor's first law

Research on the Impact of Public Management Quality on Local Economic Growth in Vietnam

Research on the Impact of Public Management Quality on Local Economic Growth in Vietnam

The legal foundations and specifics of exercising corporate rights by individuals authorized to perform local self-government

Financial liberalization is a widely adopted policy for countries to enhance growth. Financial liberalization enables financial institutions to proceed with innovative activities by familiarizing themselves with fewer mortgage loans in the financial market. Financial liberalization is a widely adopted policy for countries to enhance growth; however, it is a complex and controversial issue, with different studies providing contrasting perspectives. Financial liberalization is considered an efficient way to measure and change the financial market and structure in order to reach a position to get financial liberalized markets under an efficient and effective guideline. In the case of Vietnam, very few scholars have investigated the issue of financial liberalization-led growth. This endeavor examines the effects of financial liberalization on economic growth in the presence of control variables for Vietnam over the period of 1990 to 2021. This study uses the Autoregressive Distributive Lag Model approach due to its several advantages. The results show that financial liberalization enhances economic growth, which implies that more liberalization results in enhanced growth in Vietnam. Improved access to credit is another positive outcome of financial liberalization, as it can result in greater access to credit for individuals and businesses, enabling them to make investments and expand their operations. Hence, the results support the neo-liberal view of liberalization.

The relationship between inflation and economic growth: Empirical evidence from Vietnam in 1996-2023

Together with the impact of the post-COVID-19 pandemic, the world economy has had many fluctuations, especially the global economic crisis, which has reduced economic growth and caused inflation to rise in many countries. However, the goal of high and sustainable economic growth along with low inflation is often the main goal of each country's macroeconomic policy. So, this study aims to determine the relationship between inflation and economic growth in Vietnam, in the period 1996-2023, to determine the inflation threshold and make effective recommendations. The regression will use the least squares method (OLS) with the Newey-West standard error. This study shows that inflation supports growth in the short term and harms growth in the long term, at a light level, but does not find a converse impact, which is economic growth affecting inflation. The relationship between economic growth and inflation is a long-term relationship. Simultaneously, the study also agrees that effective control of inflation is essential for economic growth in Vietnam by proposing some solutions.

Sustainable Economic Growth in Vietnam: Exploring Resilience, Global Integration, and Innovation in a Changing Landscape

This article reviews the economic trajectory of Vietnam in light of sustainability, innovation, and global integration. In this context, a survey of 279 company managers from 120 small, medium, and large enterprises in Vietnam has been used to analyze some of the key variables that influence the economic landscape. The survey was done on the Google Forms platform, including companies from both the local and international levels. Our study sheds light on the important functions of innovation and global integration with regard to promoting sustainable development. We investigate the influence of FDI and international trade agreements on the economy of Vietnam by identifying such factors as resource management and competitive compliance. The findings show large obstacles and opportunities for improvement in innovation and sustainability. These include building full policy frameworks, incentives in innovative practices, and strengthening global integration. The findings from this research contribute to informed understanding and position implications that may be useful for academics, policymakers, and business leaders in how Vietnam can address its economic challenges while furthering sustainability and innovation.

The Impact of Monetary Policy on Economic Growth in Vietnam

This article focuses on investigating the impact of monetary policy on economic growth in Vietnam in both the short and long term using the Vector Error Correction Model (VECM) over the period from 2005 to 2023. The research results indicate that, in the long term, both M2 money supply and exchange rates have a positive impact on economic growth. Among these, the influence of the M2 money supply on growth is greater than that of exchange rates, suggesting that adjustments in the M2 money supply allow for immediate and comprehensive effects on the economy compared to adjustments in exchange rates. Conversely, real interest rates have an inverse effect on GDP in the long term.

The Impact of Human Capital and ICT Index on Local Economic Growth in Vietnam

This study aims to examine the factors of human capital and technology (ICT) that impact the economic growth of localities in Vietnam in the period 2016-2021. The study also evaluates the interactive impact between information technology factors and human capital factors on economic growth. The results show that the variables of the rate of labor over 15 years old, or the rate of workers with vocational training, have a positive impact on economic growth, while the factors of the number of people attending secondary school or spending on Education has a negative impact on local economic growth. The technology index (ICT) has a positive impact while the information technology human resource index has a negative impact on growth. Under the interactive impact of ICT, it can increase growth but can also reduce economic growth at a higher level. These results help provide some policy implications to help improve economic growth for localities in the next period.

Nowcasting Vietnam's Export Growth with Mixed Frequency Data

Purpose: The primary objective of this study is to investigate and employ a practical and meaningful nowcasting model to predict Vietnam's export growth based on factors of export supply and demand alongside relevant financial indicators. Theoretical Framework: This study employs the concepts and theories of nowcasting model with mixed frequency data to create the conceptual framework. Methodology: This study employs four commonly-used models in nowcasting: the bridge equation model (BEQ), Bayesian VAR model (BVAR), mixed frequency vector autoregressive model (MFVAR), and mixed data sampling regression (MIDAS). Findings: According to the experimental findings, the mixed frequency data models outperformed the models utilizing the same frequency data in nowcasting Vietnam's export growth. Additionally, this model demonstrated effectiveness in instantaneous and short-term forecasting. MIDAS emerged as the most suitable choice for nowcasting Vietnam's export growth among the models examined. Implication of Research: using data with mixed frequency along with corrresponding methods is the good way for nowcasting. Originality/Value: This study used macroeconomics factors to nowcast the export growth in Vietnam. It applied four different models including BEQ, BVAR, MFVAR, and MIDAS. The study reveals the roles of data and the potential capability in nowcasting of MIDAS model.

Time-frequency nexus between remittances, exchange rates, and growth in Vietnam

The significance of remittances to the Vietnamese economy necessitates investigating how they affect the value of the Vietnamese currency and other macroeconomic factors. Macroeconomic articles struggle to discover their impact on economic development, but measured remittances by migrant workers have recently soared. There is no academic study that has examined this phenomenon in Vietnam. This study uses wavelet frameworks to analyze the lead-lag nexus between exchange rates, remittances, and economic growth in Vietnam in time-frequency domains from 1995 to 2020. Overall, we find that: (i) remittances enhance economic growth in the short and medium run; (ii) exchange rates boost remittances in the short and medium run; (iii) exchange rates promote GDP in all frequency and time domains. Moreover, the partial wavelet coherence and multiple wavelet coherence frameworks also offered evidence supporting the wavelet coherence approach. More importantly, the outcomes of wavelet-based Granger causality unveil that there is two-way causality between the selected indicators, which means that all the indicators can predict each other at different frequencies. Our empirical results provide meaningful information for market participants and policymakers.

Impacts of the US-China Trade Tension and RCEP on Vietnam-China Trade Balance

The paper aims to analyze the trade balance between Vietnam and China and assess the impact of its key determinants, with a focus on the US-China trade war, using the autoregressive distributed lag model for quarterly data from Q1 2009 to Q4 2022. The statistical analysis shows that although Vietnam's trade balance with China shows increasing deficits, the US-China trade war has a positive impact on Vietnam as its export-import ratio with China increases in both the long and short run. We also find that the impact of participation in the Regional Comprehensive Economic Partnership (RCEP) is positive but not statistically significant. We also find evidence that several factors have a positive and significant impact on the trade balance, including Vietnam's growth rate, Vietnam's industrial production index, and China's population. On the other hand, some factors, such as the exchange rate between Chinese yuan and Vietnamese dong and the population of Vietnam, are found to have a significant negative impact. These findings can provide evidence to help Vietnamese businesses and policymakers formulate trade policies with China, especially in the current complex geopolitical context.

Do Urbanization and Industrialization Deteriorate Environmental Quality? Empirical Evidence from Vietnam

Vietnam has transitioned from one of the poorest countries globally into a middle-income nation in three decades since the 1986 Economic Renovation (Doi Moi).However, this economic reform miracle has been widely supported by extensive urbanization and industrialization, leading to severe deterioration in environmental quality. While the effect of economic growth on environmental degradation has been extensively investigated, previous studies on Vietnam have largely ignored the role of urbanization and industrialization, the two key pillars in supporting economic growth in Vietnam. As such, this study focuses on the effect of urbanization and industrialization on environmental quality from 1985 to 2021 using the ARDL estimation. Our overall finding confirms that urbanization in Vietnam leads to further environmental degradation in the short run. However, this negative effect disappears in the long run. However, industrialization deteriorates environmental quality in both the short- and long-run. Our empirical results confirm the validity of the environmental Kuznets curve (EKC) hypothesis in the presence of urbanization and industrialization in the Vietnamese context in the long run, implying that Vietnam’s environmental quality may be improved in the long run when a certain income level is met. These findings imply that the Vietnamese government should reconsider the priority of its industrialization strategy to ensure that sustainable economic growth is not at the expense of environmental quality in the long run.

Factors Affecting Sustainable Tourism Development: Evidence from the Central Highlands of Vietnam

Tourism is a very important part of Vietnam’s economy, and the country’s central highlands offer a lot of chances to grow tourism. However, due to the challenging terrain, remote location, and diverse ethnic populations, creating sustainable tourism in this area poses a significant challenge. To address this issue, our study employs quantitative research methodologies, including questionnaire surveys conducted with local stakeholders. Our research identifies cultural, economic, infrastructural, policy, and regulatory factors as critical drivers of long-term tourism growth in the region. The results show that sustainable tourism growth in Vietnam’s central highlands needs a complete plan that considers the area’s unique natural and cultural environment. In addition, our research gives policymakers and people in the tourism industry important information they can use to promote sustainable tourism development in this region.

Vietnam's Long-run Growth: Connecting the Dots through Climate Damage Spillovers

We propose to examine how climate damage may transform Vietnam's long-run growth rate. Because of cross-country linkages forged by bilateral trade, there are two channels through which international damage spillovers may occur. First, the dynamics of partners' growth determine future trends in Vietnam's volume of exports. Second, since the domestic impact of climate change may be heterogeneous across countries, there will be a differentiated impact on export and import market shares. Both terms play a critical role in changing trade patterns that are likely to shift Vietnam's external constraint. This demand-side view of growth based on the balance-of-payments constraint is a powerful predictor of inter-country growth differences. Our study show that the consequences of climate change could equate to a 2.5% reduction in Vietnam's growth rate over the period 2020-2060. Our decomposition exercise by effect and by partner area shows that international damage spillovers result from very different individual behaviours.

Evaluating strategies for developing renewable energies considering economic, social, and environmental aspects: a case study.

Due to fast industrial expansion and the increasing population in Vietnam, this country is confronting a mounting lack of energy. While this country has considerable renewable energy (RE) potentials, including wind, solar, biomass, and hydropower sources, it has yet to exploit them entirely because of a lack of proper planning. This research aimed to find and assess solutions for encouraging RE growth in Vietnam. RE development solutions were formulated through SWOT analysis and evaluated in terms of their social, economic, and environmental dimensions. The SWARA approach weighed the strategy evaluation criteria. The most influential sub-criteria were initial investment cost, reduction of adverse environmental impacts, and natural capacity of the region, with weights of 0.155, 0.127, and 0.114, respectively. Strategy evaluation was performed using the Gray ARAS, and the results were validated with the Gray COPRAS, the Gray TOPSIS-G, and the Gray MABAC. In the strategy ranking, the top strategy is to reduce the cost of renewable power generation. This can be achieved by using advanced technologies and promoting cooperation between domestic and foreign industries and companies. Increasing domestic and foreign investment in RE infrastructure by providing financial facilities for investors, developing domestic and international cooperation, and creating a competitive environment between different companies to reduce electricity production costs were the most suitable strategies.

Energy Transition in Vietnam: A Strategic Analysis and Forecast

Energy landscapes in Asia and other regions are currently undergoing a transformation aimed at increasing the share of clean energy sources. This article analyzes and forecasts the electricity demand in Vietnam, examining existing constraints that necessitate the shift from coal to renewable energy sources. The rapid economic growth in Vietnam is driving a substantial surge in electricity demand, projected to reach 124 thousand MW by 2030 according to the National Electricity Plan, positioning Vietnam second in Southeast Asia. This surge poses a significant challenge to national energy security, given the impracticality of effective coal mining in the country and the imperative to develop renewable energy sources. Anticipating the changes in Vietnam’s energy mix by 2050, this study foresees a substantial reduction in dependence on coal production. Government investment and green energy investment funds such as JETP are strategically directed towards renewable energy sources, including solar, wind, biomass, hydrogen energy, and efficient energy storage technologies. Consequently, this research substantiates the viability of an energy transition from coal to green energy in Vietnam. The article presents an assessment of the rate of replacing coal with renewable energy sources, taking into consideration various scenarios for economic development, energy consumption growth, and the utilization of renewable energy sources.

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Autonomy Acquisition and Performance within Higher Education in Vietnam—A Road to a Sustainable Future?

The Vietnamese Government prioritizes education as a developmental investment within its socioeconomic development programs. Subsequently, Vietnam’s higher education system (HE) is experiencing substantial transformation, emphasizing autonomy, because institutions endowed with self-governance capabilities may allocate societal resources more efficiently for developmental purposes. In this paper, we measured Vietnamese universities’ total factor productivity change (TFPCH) in the autonomy context, using it as a proxy for the sustainable performance of HE institutions. We decomposed TFPCH into Technical Efficiency Change (EFFCH) and Technology Change (TECHCH) and regressed these indices with independent variables to derive their determining factors. Notably, we employed the derived intercept as a proxy for the autonomy context of Vietnam. The DEA found significant advancements in productivity and technology, indicating a positive paradigm shift within Vietnam’s higher education system. The intercepts obtained from these regressions are positive and significant, implying that the autonomous environment supports the sustainable advancement of Vietnam’s higher education system in both components of TFPCH: the catch-up ability (EFFCH) and technological improvement (TECHCH). In addition, we found that investment in vital resources (number of laboratories, research funding, or quality accreditation) improves productivity (TFPCH) via technological improvement. We also observed that private universities experienced higher performance progress than public ones. However, we did not find any significant relationships between the university scale or the location of the main campus and their performance. To further the growth of Vietnam’s higher education system, we propose that the autonomy of institutions continues to be granted.

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