Building on Vietnam’s Recent COVID-19 Success: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy

Hai-Anh Dang (), Long T. Giang and Minh N. N. Do
Additional contact information
Long T. Giang: Faculty of Economics, National Economics University (NEU), Hanoi 11616, Vietnam
Minh N. N. Do: Finance and Banking Department, University of Economics and Business-Vietnam National University, 144 Xuan Thuy Str, Cau Giay Dist, Hanoi 10000, Vietnam

Sustainability, 2021, vol. 13, issue 19, 1-21

Abstract: Despite the harmful effects of the COVID-19 pandemic on income and employment loss around the globe, hardly any formal study exists on household finance and future economic expectations in poorer countries. We offer an early study that aims to fill this gap from the labor market angle. We implemented and analyzed a new web-based rapid assessment survey immediately after the removal of lockdown measures in Vietnam, a low-middle income country that has received widespread recognition for its successful fight against the pandemic. We find that having a job is strongly and positively associated with better finance and more income and savings, as well as more optimism about the resilience of the economy. Further disaggregating employment along the security dimension into different types of jobs such as self-employment and jobs with permanent and short-term contracts, we find those with permanent job contracts to have fewer job worries and better assessments for the economy. Individuals with good health tend to have more positive evaluations for their current and future finance, but there is mixed evidence for those with higher educational levels. These findings are relevant for the ongoing fight against the pandemic and post-outbreak labor policies, especially in a developing country context.

Keywords: COVID-19; recession; labor market; wage work; household finance; Vietnam (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/19/10664/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/19/10664/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:19:p:10664-:d:643150

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().