Authors : Nguyen Huu Cung and Do Hai Hung
Abstract: The effectiveness of savings investment and labor force (including Foreign investment and aid) is central to promoting economic growth while other factors play a certain role in economic growth such as geographic location, natural features, natural resources, economic and political stability, educational and medical capacity, policy institution. The purpose of this study is to analyze the impact of labor force and several other factors on economic growth in Vietnam. The empirical model is employed to perform regression and correlation on the effect of labor force, Foreign direct investment, exports and inflation on Vietnam’s economic growth by using a secondary time series data set during the period 1998-2018. The results find that both labor force and Foreign direct investment have a positive influence on economic growth at a 1% significance level while exports of goods and services has a positive impact on economic growth at a 10% significance level, annual inflation rate has a negative impact on economic growth at a 1% significance level. These findings are in line with economic theory and hold important policy implications for Vietnam.
Nguyen Huu Cung and Do Hai Hung, 2020. The Impact of Labor Force on Economic Growth in Vietnam. International Business Management, 14: 346-352.