出版社：Economic Laboratory for Transition Research Podgorica
摘要：Vietnam is an emerging economy which also is one of the most
successful countries in attracting foreign direct investment over
decades. Some studies have shown that foreign direct investment
playing an important role in supporting economic growth in Vietnam.
However, there have not got clear evidence about the effect of the
foreign direct investment on private investment in this economy. Our
paper tries to investigate the impact of foreign direct investment on
private investment in Vietnam by the Error correction model. The
quarterly dataset is collected in the period of 2003-2017. The estimated
results show that foreign direct investment, as well as the
GDP per capita, have positive impacts on private investment in both
the short and long run. So the crowds-in hypothesis is confirmed in
the case of the Vietnamese economy. On the other hand, we see
that inflation can harm private investment and its impact level in
long run is smaller than the short run. Finally, the export balance
has a negative effect on private investment, however, the coefficients
are not enough statistical significance implying that international
trade maybe did not help to support the private investment
because of the trade deficit prolong during the period.
