Abstract
For more two decades of Reformsince 1986, Vietnam has achieved many
significant achievements in terms of socio-economic fields. The annual economic
growth rate in the period of 1991- 2010 was 7.41%. In particular, in the first decade
of the 21st century, Vietnam has always been classified in the group of high growth
countries with annual economic growth rate was 7.27% phase of 2001-2010,GDP
per capita increased from 400 USD in 2000 to 1,169 USD in 2010.
In the current context of severe economic competition, rapid and sustainable
growth has posed many challenges for the countries in the world. FDI flows are
considered as the effectively supportive capital that has contributed to the national
growth, especially in developing countries. Many countries therefore have tried to
attract as many FDI as possible. Since the 1987 Open-door policy, Vietnam has
been improving its investment environment to attract more and more FDI. Within the
twenty years from 1991 to 2010 the number of FDI projects increased from 152 to
1,237 and the disbursed FDI from 328.8 million USD to 11.0 billion USD.
Contribution of FDI sector to economic growth has increased from 2 percent in 1991
up to 19 percent in 2011. The purpose of this dissertation is focused on assessing
the FDI and economic growth nexus and the factors that affect FDI attraction in
Vietnam in the period of2000-2011.
Empirical findings show that there is a positive bi-directional relationship
between FDI and economic growth in Vietnam. FDI has impacted positively on the
economic growth; it has contributed significantly to increasing GDP per capita.
Research also shows that such positive interaction has existed only in 5 of 6 regions of
Vietnam. In addition, the research finds out that for the provinces that were distributed
more FDI; they have stronger impact on increasing GDP. Meanwhile provinces with
higher economic growth have attracted more FDI than others.
The research result indicates that Vietnamese laws amendment has a
significantly negative effect on attracting FDI; it has not brought the efficiency yet,
not sufficed attraction to lure foreign investors bring capital to Vietnam, We also
explore that the WTO accession has negative effect on attracting FDI, after joining
tiie WTO, FDI per capita inflow into Vietnam decreased. Empirical evidence finds
that the 2008 -financial crisis and global economic downturn have negative impacts
on FDI attraction of Vietnam during the period of 2008 - 2011. The study proves
that the systems of seaports and airports have significantly positive impact oil
attracting FDI. Furthermore, the research also proves that the information quality
related to doing business provided by the provinces through their websites has
played an important role in increasing FDI flow to Vietnam.
The research also indicates that the economic growth in Vietnam depends on
the level of financial investment. FDI has positive impact on economic growth
through financial market development and more FDI will be attracted to the
provinces with more developed financial market. We explore that FDI has a
positive impact on economic growth through research and development activities.
Expenditure on development and research has contributed positively and
significantly in attracting FDI in Vietnam. Finally, the research finds that there is a
sub-nation competition in Vietnam's FDI attraction, provinces and cities with better
economic governance will attract more FDI.
Keywords: Foreign Direct Investment, FDI, GDP, Vietnam, Economic Growth,
Law, WTO
摘要
自1986年以来,经过历时二十多年的“改革’’,越南已在社会经济领域取得了
许多重大成就。1991年一2010年期间的年经济增长率为7.41%。特别是在二f一世
纪的第一个十年,越南每年的经济增长率达到7.27%,被认为是世界上经济高速增
长的国家之一。人均国内生产总值从2000年的400美元增加到2010年的1169美
元
在当前激烈的经济竞争环境下,快速而又可持续的经济发展已经成为世界各
国的挑战。外国直接投资流入被认为能够有效地促进国民经济增长,特别是对于发
展中国家而言。因此,许多国家都致力于尽可能多的吸引外国直接投资。自1987
年实行“门户开放”政策以来,越南一直在改善投资环境,以吸引更多的外国直接投
资。在1991年至2010年这二十年的外商直接投资项目数从152个上升到1237个,
己支付的外国直接投资额从3.288亿美元上升到110亿美元。外商直接投资部分对
经济增长的贡献从1991年的2%上升到2011年的19%
本文的主要目的是评估外国直接投资和经济增长的关系,并探讨影响越南在
2000-2011期间吸引外国直接投资的其他因素
实证调查发现,在越南的外国直接投资和经济增长之间有一个相互促进关
系。外国直接投资对经济增长产生积极影响,并对人均国内生产总值增长做出了显
著贡献。研究还发现在越南的六个区域中,仅有五个区域存在这种良性互动。此
外,研究发现,获得更多外国直接投资的省份,对于国内生产总值的增长具有更大
的影响。同时,经济增长更快的省份能够吸引更多的外国直接投资
研究结果表明,越南的法律修正案对于吸引外国直接投资有显著的负面影
响,它没有提高效率,也不能对外国投资者前来投资产生足够的吸引力。我们也发
现加入世贸组织对吸引外国直接投资有负面的影响,加入WTO后,越南的人均外
国直接投资有所下降。实证数据证明,2008年的金融危机及2008—2011年期间全
球经济衰退给越南吸引外国直接投资带来负面影响
研究发现,海港和机场系统对吸引外国直接投资有明显的积极影响。此外,
研究还发现,由各省通过自己的网站提供的商业信息的质量对于吸引外国直接投资
流向越南发挥了重要的作用
该研究还表明,越南的经济增长依赖于金融投资水平。外国直接投资通过金
融市场的发展对经济增长有积极的影响,金融市场越发达的省份将会吸引越多的外
国直接投资。我们探索外商直接投资通过研究和开发活动对经济增长产生的积极影
响。而研究和开发支出也对越南吸引外国直接投资有着积极和显著的贡献
最后,研究认为,越南吸引外国直接投资存在着国内竞争,经济治理越好的
省份和城市,将吸引越多的外国直接投资
关键词:外国直接投资,国内生产总值,越南,经济增长,法律,世界贸易组织