Some Issues on the Vietnam Economic Growth

Phuong Le, Cuong Le Van, Anh Nguyen (), Ngoc Minh Nguyen, Phu Nguyen Van and Dinh-Tri Vo
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Phuong Le: Paris-Sud University
Cuong Le Van: IPAG Business School, PSE, CNRS, TIMAS (Vietnam)
Ngoc Minh Nguyen: University of Nantes, DEPOCEN (Vietnam)
Phu Nguyen Van: BETA, CNRS & University of Strasbourg, TIMAS (Vietnam)
Authors registered in the RePEc Author Service: Phu Nguyen-Van

No 1, Working Papers from Development and Policies Research Center (DEPOCEN), Vietnam

Abstract: We first consider the question of the productivity of the economy of Vietnam at the macro level. With theoretical models and empirical data, we find out the Leontief production function, and its associated TFP (Total Factor Productivity). We show that the TFP is one of the main engines of Vietnam economic growth. However when we move to the micro level with the capital productivity of 2,835 State Owned Enterprises (SOEs), we discover there exists an over utilization of the physical capital and more importantly, diversion of the capital stock. This diversion may be due to a waste of capital stocks or to a special form of bribery we call "hidden overhead". To summarize, economic growth in Vietnam my be enhanced by investing in the founding components of TFP such as new technology, Human Capital, better organisational system, but also by fighting the bribery and the over utilization of the physical capital

Keywords: Productivity; Production Function; TFP; Hidden Overhead. (search for similar items in EconPapers)
JEL-codes: E60 O11 P21 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2019-01, Revised 2019-01
New Economics Papers: this item is included in nep-mac, nep-sea and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:dpc:wpaper:0119

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