Abstract
This study aims at investigating the impact of globalization on industrial development in Vietnam. Empirical analysis is done by using time series data for the period from 1995 to 2015. The paper tested the stationary, cointegration of time series data and utilized error correction modeling technique to determine the short-term relationships among industry value added, globalization, foreign direct investment, balance of trade, exchange rate and reserves variables. The results show that globalization, measured by the KOF index, promotes industrial development and that Vietnam has gained from integrating into the global economy. The overall index of globalization has positively and signifiantly impacted on the industrial development in Vietnam in the short run as well as in the long run. The results also indicate that foreign direct investment has had a massive effct on the development of the Vietnamese industrial sector in the long run. The study further reveals that balance of trade has affcted industrial development positively in the long run. Moreover, the exchange rate was found to be positively inflential toward industrial development in the long run but it has had a negative effct on the industrial sector in the short run. In addition, reserves have negatively affcted industrial performance in the long run but have had an insignifiant impact in the short run.
Keywords
Exchange rate, foreign direct investment, industrial development, globalization, trade balance.
Publisher
Kinh Tế Quốc Dân???dc.relation.reference???
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Alfaro, L. and Charlton, A. (2013), ‘Growth and the quality of foreign direct investment: Is all FDI Equal?’, CEP Discussion Papers dp0830, Centre for Economic Performance. Aluko, M.A.O., Akinola, G.O. and Sola, F. (2004), ‘Globalization and the manufacturing sector: A study of selected textile fims in Nigeria’, Journal of Social Sciences, 9(2), 119-130. Asuamah, Y., Pinkrah, B. and Abbey, Q. (2016), ‘What is the Effct of economic globalization on the productivity of the manufacturing sector of Ghana?’, MPRA Paper No. 71379, MPRA. APPENDIX Atta, O. (2017), ‘Eff...See More
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