Inflation and the public investment: Growth relationship in Vietnam
Public capital spending positively contributes to economic growth and development in many countries worldwide. However, questions concerning the importance of inflation in the public investment–growth relationship are of great interest. This study examines the role of inflation in the public investm...
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University of Economics Ho Chi Minh City
2023
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oai:scholar.dlu.edu.vn:DLU123456789-1155202023-03-08T03:56:43Z Inflation and the public investment: Growth relationship in Vietnam Nguyen, Van Bon Public capital spending positively contributes to economic growth and development in many countries worldwide. However, questions concerning the importance of inflation in the public investment–growth relationship are of great interest. This study examines the role of inflation in the public investment–growth relationship in Vietnam using the two-step GMM Arellano-Bond estimators for a balanced panel data of 52 provinces during the period of 2005–2014. More interesting are the empirical findings. First, inflation significantly increases the volume of public capital spending. Second, public investment and inflation enhance economic growth, but their interaction term impedes it. Third, private investment, government recurrent expenditure, and trade openness are the significant determinants of growth. These findings suggest some important policy implications related to public capital spending and inflation in developing countries, specifically the Vietnam government. 2023-03-08T03:56:43Z 2023-03-08T03:56:43Z 2018 Article 2615-9112 http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=50dc4a98-4f5e-6d19-aa91-759dc556d4b2 http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115520 10.24311/jabes/2018.25.S01.6 en Journal of Asian Business and Economic Studies, Volume 25, Issue S01; p. 50-67 application/pdf University of Economics Ho Chi Minh City |
| institution |
Thư viện Trường Đại học Đà Lạt |
| collection |
Thư viện số |
| language |
English |
| description |
Public capital spending positively contributes to economic growth and development in many countries worldwide. However, questions concerning the importance of inflation in the public investment–growth relationship are of great interest. This study examines the role of inflation in the public investment–growth relationship in Vietnam using the two-step GMM Arellano-Bond estimators for a balanced panel data of 52 provinces during the period of 2005–2014. More interesting are the empirical findings. First, inflation significantly increases the volume of public capital spending. Second, public investment and inflation enhance economic growth, but their interaction term impedes it. Third, private investment, government recurrent expenditure, and trade openness are the significant determinants of growth. These findings suggest some important policy implications related to public capital spending and inflation in developing countries, specifically the Vietnam government. |
| format |
Article |
| author |
Nguyen, Van Bon |
| spellingShingle |
Nguyen, Van Bon Inflation and the public investment: Growth relationship in Vietnam |
| author_facet |
Nguyen, Van Bon |
| author_sort |
Nguyen, Van Bon |
| title |
Inflation and the public investment: Growth relationship in Vietnam |
| title_short |
Inflation and the public investment: Growth relationship in Vietnam |
| title_full |
Inflation and the public investment: Growth relationship in Vietnam |
| title_fullStr |
Inflation and the public investment: Growth relationship in Vietnam |
| title_full_unstemmed |
Inflation and the public investment: Growth relationship in Vietnam |
| title_sort |
inflation and the public investment: growth relationship in vietnam |
| publisher |
University of Economics Ho Chi Minh City |
| publishDate |
2023 |
| url |
http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=50dc4a98-4f5e-6d19-aa91-759dc556d4b2 http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115520 |
| _version_ |
1765278024533540864 |