Impact of the State-owned Investment and Other Factors on Economic Growth with SGMM and Bayesian Approach: The Case of Vietnam

Thi Thanh Huong Tran and Thu Hang Pham

Chapter 27 in Recent Developments in Vietnamese Business and Finance, 2021, pp 687-704 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This research focuses on the impact of the state-owned investment on economic growth in the case of Vietnam. System generalized method of moments (SGMMs) and minimum Bayes factor (MBF) are used with the dataset from 49 provinces of Vietnam. The results show that labor productivity of the state-owned sector (LP_S) has positively large impacts, while the number of working labors (LBs) and the rate of trained employees (RTEs) have no effect on economic growth. Additionally, implementing investment of the state-owned sector (II_S) and capital productivity (CP) negatively affected Vietnam’s economic growth during the period from 2013 to 2017. Hence, Vietnam needs to use the state-owned investment more effectively and reduce its proportion while increasing the proportion of non-state investment and FDI. Moreover, the labor productivity of state-owned sector should be strongly improved to promote economic growth in the future.

Keywords: Vietnam; Business; Finance; Economy; Economics; Banking; Gender Equality; Management; Business Research (search for similar items in EconPapers)
JEL-codes: F2 F3 F4 (search for similar items in EconPapers)
Date: 2021
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