The Relationship between B2c E-Commerce and Economic Growth in Vietnam

Abstract

The study explores economic growth from the perspective of the development of e-commerce from Business to Customer (B2C) by using the VAR model to assess the causal relationship between Economic Growth (GDP), number of online payment transactions by credit card and B2C e-commerce with a sample of 60 observations from the first quarter of 2006 to the fourth quarter of 2020. The study has identified the relationship between B2C e-commerce and Vietnam's economic growth is correlated two-way. Furthermore, an increase in economic growth shock is an event that have a large impact on the amount of online payment by credit card, and hence also an increase of B2C e-commerce. In this paper, the author provides recommendations for Vietnamese policymakers in order to have the appropriate macro policy orientations that can make good use of B2C e-commerce leverage to promote economic growth, thereby achieving the goal of sustainable economic development, stabilizing the socio-economic situation.