Impact of foreign direct investment, remittances and trade openness on economic growth in Vietnam: an ARDL model approach

Tóm tắt

This research aims to evaluate the impact of foreign direct investment (FDI), remittances and trade openness on economic growth in Vietnam with data collected in the period 1993-2022 using the autoregressive distributed lag (ARDL) model. The findings show that FDI and remittances positively impact economic growth in the short and long term. In contrast, trade openness has a positive impact on economic growth in the short term but a negative impact on
economic growth in the long term. From the research results, the article suggests several policy recommendations focusing on the quality and efficiency of FDI, taking advantage of comparative advantages in international trade while fostering domestic market development and facilitate remittances to invest in production and business activities to create long-term positive development effects for the economy.