Financial structure and economic growth: the case of Vietnam

This paper investigates the role of financial structure in promoting economic growth in Vietnam using a number of econometric techniques. The results indicate that there is no strong relationship between stock market development and economic growth. In particular, the Granger causality tests suggest...

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Published in:Eurasian business review 2016-08, Vol.6 (2), p.141-154
Main Authors: Vo, Xuan Vinh, Nguyen, Huu Huan, Pham, Khanh Duy
Format: Article
Language:English
Subjects:
Business and Management
Capital structure
Econometrics
Economic growth
Economic models
Emerging Markets/Globalization
Entrepreneurship
Innovation/Technology Management
Original Paper
Securities markets
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description This paper investigates the role of financial structure in promoting economic growth in Vietnam using a number of econometric techniques. The results indicate that there is no strong relationship between stock market development and economic growth. In particular, the Granger causality tests suggest no causal effects between these variables. The impulse response tests and the variance decomposition analysis present evidence of the one-way impact from the stock market capitalization variable on the change of economic growth, however, this effect is marginal.
doi_str_mv 10.1007/s40821-016-0042-8
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subjects Business and Management
Capital structure
Econometrics
Economic growth
Economic models
Emerging Markets/Globalization
Entrepreneurship
Innovation/Technology Management
Original Paper
Securities markets
title Financial structure and economic growth: the case of Vietnam
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