Local Financial Development and Household Welfare in Vietnam: Evidence from a Panel Survey

Viet T. Tran, Yabibal Walle and Helmut Herwartz

Journal of Development Studies, 2018, vol. 54, issue 4, 619-640

Abstract: We examine the impact of local financial development on household welfare in Vietnam. We employ household-level panel data for the periods 2007, 2008, 2010 and 2013 covering three provinces and measure local financial development at the district, sub-district and village levels. To account for potential endogeneity that could emanate from the fact that local economic development could spur local financial development, we employ a recently suggested method of identification through heteroscedasticity. Our results show that local financial development has a significantly positive effect on household annual income, consumption and consumption smoothing.

Date: 2018
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DOI: 10.1080/00220388.2017.1385772

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