Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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The Effects of ODA, FDI and Education Expenditure on Economic Growth: Vietnam After Doi Moi

ODA, FDI 및 교육비 지출이 경제성장에 미치는 영향: Doi Moi 이후의 베트남

  • Cho, Woo-sung (Department of International Trade, Dongguk University) ;
  • Lee, Keon-hyeong (Asia Research Institute, Dongguk University) ;
  • Jeon, Ki-hong (Department of Global Economics and Commerce, Dongguk University)
  • 조우성 (동국대학교 국제통상학과) ;
  • 이건형 (동국대학교 아시아 연구원) ;
  • 전기홍 (동국대학교 글로벌통상학부)
  • Received : 2019.11.30
  • Accepted : 2019.12.18
  • Published : 2019.12.31
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Abstract

Vietnam's economic growth has progressed rapidly since Doi Moi. Vietnam is a key driving force for global economic growth on behalf of China. Therefore, this study analyzed the factors of Vietnam's economic growth by using time series variables after Doi Moi. Study results show that educational expenditures affect ODA in the short term. In the long run, GDP and FDI are causally related to ODA. Based on the above findings, it can be seen that FDI and ODA played a significant role in Vietnam's economic growth. This finding suggests that in order for Vietnam's economy to grow further, the capital market should be more open to foreigners so that FDI and ODA can flow more smoothly. Since the inflow of FDI is also linked to educational expenditure, it is important to understand that the workforce is being upgraded in the Vietnamese labor market.

Keywords

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