Corporate bond appeared in 1992-1994 in Vietnamese capital markets. However, it is still not popular to both business sectors and academic circles. This paper explores different dimensions of Vietnamese corporate bond market using a unique and perhaps, most complete data set. State not only intervenes in the bond markets with its powerful budget and policies but also competes directly with enterprises. The dominance of state-owned enterprises and large corporations also prevents small and medium enterprises from this debt financing vehicle. (...) Whenever a convertible term is available, bondholders are more willing to accept lower fixed income payoff. But they would not likely stick to it. On the one hand, prospective bondholders could value the holdings of equity when realized favourably ex ante. On the other hand, the applicable coupon rate for such bonds could turn out negative inflation-adjusted payoff when tight monetary policy is exercised and the corresponding equity holding turns out valueless, ex post. Given the weak primary market and virtually non-existent secondary market, the corporate bond market in Vietnam reflects our perception of the relationship-based and rent-seeking behaviour in the financial markets. For the corporate bonds to really work, they critically need a higher level of liquidity to become truly tradeable financial assets. Updated entries in 2010 affirm the findings and conclusions. (shrink)

This paper is the first major and a thorough study on the Merger & Acquisition (M&A) activities in Vietnam’s emerging market economy, covering almost entirely the M&A history after the launch of Doi Moi. The surge in these activities since mid-2000s by no means incidentally coincides with the jump in FDI and FPI inflows into the nation. M&A industry in Vietnam has its socio-cultural traits that could help explain economic happenings, with anomalies and transitional characteristics, far (...) better than even the most complete set of empirical data. Proceeds from the sales of existing assets and firms have mainly flowed into the highly speculative industries of securities, banking, non-bank financials, portfolio investments and real estates. The impact of M&A on Vietnam’s long-term prosperity is thus highly questionable. An observable high degree of volatility in the M&A processes would likely blow out the high ex ante expectations by many speculators, when ex post realizations finally arrive. The effect of the past M&A evolution in Vietnam has been indecisively positive or negative, with significant presence of rent-seeking and likelihood of causing destructive entrepreneurship. From a socio-economic and cultural view, the degree of positive impacts may result in domestic entrepreneurship which will perhaps be the single most important indicator. (shrink)

Decision-making regarding healthcare expenditure hinges heavily on an individual's health status and the certainty about the future. This study uses data on propensity of general health exam (GHE) spending to show that despite the debate on the necessity of GHE, its objective is clear—to obtain more information and certainty about one’s health so as to minimise future risks. Most studies on this topic, however, focus only on factors associated with GHE uptake and overlook the shifts in behaviours and attitudes regarding (...) different levels of cost. To fill the gap, this study analyses a dataset of 2068 subjects collected from Hanoi (Vietnam) and its vicinities using the baseline-category logit method. We evaluate the sensitivity of Vietnamese healthcare consumers against two groups of factors (demographic and socioeconomic-cognitive) regarding payment for periodic GHE, which is not covered by insurance. Our study shows that uninsured, married and employed individuals are less sensitive to cost than their counterparts because they value the information in reducing future health uncertainty. The empirical results challenge the objections to periodic health screening by highlighting its utility. The relevance of behavioural economics is further highlighted through a look at the bounded rationality of healthcare consumers and private insurance companies in using and providing the service, respectively. (shrink)

This study explores the Burberry apparel brand’s position and its strategic behaviour seeking new customers in the new market. This exploratory research pays particular attention to business potential and opportunities in an emerging market, Vietnam. To evaluate Burberry’s strategies and the potential, the collaborative network relationships are discussed in details, that is followed by the discussion of the key themes for Burberry to consider in the Vietnamese market, where Burberry has recently begun expanding its businesses. (...) The outcome of the study suggests that the Western luxury brand apparel needs to understand the targeted markets’ systems and consumer behaviour, from there it is inevitable to design strategic plan how to engage the stakeholders in the ubiquitous supply chain relationships. In the end, a conceptual model with network perspectives is proposed: The model will be an analytical framework with key agenda items for the luxury brand which aims to enter the new market, and also the research limitations and further research opportunities are discussed. (shrink)

The subprime mortgage crisis in the United States (U.S.) in mid-2008 suggests that stock prices volatility do spillover from one market to another after international stock markets downturn. The purpose of this paper is to examine the magnitude of return and volatility spillovers from developed markets (the U.S. and Japan) to eight emerging equity markets (India, China, Indonesia, Korea, Malaysia, the Philippines, Taiwan, Thailand) and Vietnam. Employing a mean and volatility spillover model that deals with the U.S. (...) and Japan shocks and day effects as exogenous variables in ARMA(1,1), GARCH(1,1) for Asian emerging markets, the study finds some interesting findings. Firstly, the day effect is present on six out of nine studied markets, except for the Indian, Taiwanese and Philippine. Secondly, the results of return spillover confirm significant spillover effects across the markets with different magnitudes. Specifically, the U.S. exerts a stronger influence on the Malaysian, Philippine and Vietnamese market compared with Japan. In contrast, Japan has a higher spillover effect on the Chinese, Indian, Korea, and Thailand than the U.S. For the Indonesian market, the return effect is equal. Finally, there is no evidence of a volatility effect of the U.S. and Japanese markets on the Asian emerging markets in this study. (shrink)

The research resulted in a comprehensive overview of the Vietnamese public infrastructure market. Primary data confirmed most of the secondary data collected while adding more supporting details, with no perceivable contradiction among data sources. Macro-economically, Vietnam emerged as a high-potential market due to the rapid economic growth, the massive infrastructure demand driven by urbanization and industrialization, and the Government’s recent efforts. However, there were market uncertainties that required careful consideration, with regulatory inefficiency and corruption being the (...) most prominent ones. Culturally, Vietnam and Finland exhibited distinct differences. The thesis concluded that Vietnam was a market of high potentiality and medium risk. The author’s recommendations for market entry included a careful approach to mitigate risks concerning regulations, and the addition of a translator when negotiating to reduce the risk of cultural misunderstanding. (shrink)

Entrepreneurship plays an indispensable role in the economic development and poverty reduction of emerging economies like Vietnam. The rapid development of technologies during the Fourth Industrial Revolution (Industry 4.0) has a significant impact on business in every field, especially in the innovation-focused area of entrepreneurship. However, the topic of entrepreneurial activities with technology applications in Vietnam is under-researched. In addition, the body of literature regarding entrepreneurial finance tends to focus on advanced economies, while mostly neglecting the contextual (...) differences in developing nations. Therefore, this research contributes to these topics by investigating the main characteristics of a high potential market for entrepreneurs in Vietnam, which is the English language training market (ELTM). It also aims at indicating the impacts of technology on the entrepreneurial firms within this market, with an emphasis on financing sources. To answer the research questions, this study employs a qualitative analysis and conducts 12 in-depth, semi-structured interviews with entrepreneurs and researchers in the field. The key findings in our study highlight the main contributing factors to the growth of the market, both universally and context-specific for a developing nation like Vietnam. It also lists the leaders in each market segment and the industry’s potential profit margin. The results also show that most entrepreneurs in the ELTM utilized private sources of finance rather than external ones, such as bank loans. It again confirms the idea from previous works that even with the rapid development of the economic and technological landscape, entrepreneurial activities in general barely benefit from additional sources of funding. However, it also points out the distinct characteristics of the ELTM that may influence these financing issues; for example, English training services usually collect revenues from customers before delivering their classes. This is of advantage for entrepreneurs in this area and helps significantly reduce the financial barriers. These findings, which are among the first attempts to contribute to a better understanding of entrepreneurial opportunities in the Industry 4.0 in Vietnam, provide valuable insights for policymakers and entrepreneurs, as well as investors. (shrink)

The transition economy of Vietnam enjoyed remarkable achievements in the first 20 years of economic renovation (Doi Moi) from 1986 to 2006. Notably, the economy grew at an average annual rate of 7.5% in 1991-2000 period. Vietnam’s Amended Constitution 1992 recognized the role of private sector in the economy. U.S.-Vietnam Trade Bilateral Agreement (US-BTA) was signed in 2001. The country's stock market made debut trading in 2000. Vietnam became a member of Association of Southeast Asian (...) Nations (ASEAN) in 1995, then proceeded to full membership of the World Trade Organization in 2007, following which registered foreign direct investment (FDI) reached an all-time high of US$71.7 billion in 2008. Together with the impressive economic achievements, Vietnam also saw its diplomatic and political status constantly improved in the international arena. The country has established diplomatic relations with more than 170 countries in the world, strategic partnerships with 12 important economies, both developed and emerging, namely China, Japan, Russia, India, England, France, North Korea, Italy, Germany, Indonesia, Malaysia and Thailand. The country also successfully hosted important events including the Asia Pacific Economic Cooperation (APEC) in 2006. (shrink)

In this study, we examine the own- and cross-effects of the return and volatility spillover between the equity markets of Vietnam and the two ASEAN countries, namely, Singapore and Thailand using monthly stock returns. In attempt to explore the level and magnitude of the spillover effects of the other markets on the Vietnamese stock market, we apply the multivariate generalized autoregressive conditional heteroskedasticity (MGARCH) framework. By utilizing the time-varying conditional volatility and conditional correlations between the stock markets which (...) are resulted from estimation of the GARCH-BEKK model, the study also further shed light on the issues of portfolio diversification. In general, the study found the weak return linkages among the markets. Specifically, the study found no return linkages between Vietnam and Thailand and the unidirectional relationship between Vietnam and Singapore. However, the volatility linkages are highly significant for the three stock markets. It is found that the shock transmission relationship between emerging markets (i.e. Vietnam, Thailand) and developed market (i.e. Singapore) is unidirectional in direction to the emerging markets and the volatility transmission relationships between those are bidirectional. Besides, the variation in Vietnamese stock volatility is found to be more strongly influenced by the past own-shock effects than the past cross-shock effects. This indicates the low level of financial integration of Vietnam into the regional markets and implies the potential rooms for the international portfolio diversification gains. The findings on the return and volatility linkages have several important implications for both investors and policy makers. Firstly, because of the low correlations between the stock markets found, the investors can earn the gains from the portfolio diversification in the three markets. Secondly, the Vietnamese policy makers should be concerned with the harmful volatility spillover originating in the Thailand market that can affect the stability of the stock market. Thirdly, the implication is related to the monetary policy. The finding that the own shock transmissions have the strongest impact on the Vietnamese market’s volatility suggest that the policy makers should pay more attention to the domestic shocks so that the adequate and timely policy can be made. (shrink)

Over the past three decades, Vietnam has transitioned from an agrarian-based, centrally planned economy to a mixed economy with emerging market status. Additionally, projections indicate that Vietnam will be one of the world’s largest economies by 2050 if growth is sustained at present rates. The evolution of the financial sector, which began with the Doi Moi reforms in the mid-1980s, has been central to facilitating this growth. As the economy has expanded, Vietnam has maintained a (...) gradualist approach to developing market-based mechanisms of resource allocation. However, financial markets are still in an embryonic stage and substantial reform is required if the economy is to meet the expected rates of development. Against this backdrop, this dissertation critically evaluates trends and dynamics in Vietnam’s journey of financial development over the past three decades, with a particular emphasis on the experiences of small and medium-sized enterprises (SMEs). Drawing on quantitative analysis, secondary data and interviews conducted with a range of firms and stakeholders, I argue that financial development in Vietnam has had positive effects in terms of increasing access to funding for SMEs. As the financial system has developed, allocative efficiency has improved to the benefit of SMEs. However, some informants criticised the progress made to date, arguing that a funding mismatch still exists. Specifically, weak corporate governance, state-owned enterprises and a lack of derivatives have prevented effective capital market development. Given Vietnam’s high level of political corruption, this paper concludes that policy makers must place more attention on the political-economic structures of Vietnam if achieving middle-income status is to occur. Specifically, a tighter and more controlled effort to dismantle corporate bureaucracy and nepotism would allow better access to funding for Vietnamese SMEs. (shrink)

Vietnam has exhibited rapid economic growth over thirty years of comprehensive economic reforms. However, about half of the country’s active population remains in agriculture. In order to characterize the role of agriculture and livestock in Vietnam’s structural transformation, we assess ongoing dynamics at three complementary scales: national, sectoral (agriculture and livestock) and local (district of Bavi). We show that the transition since Doi Moi (Renovation) has given rise to a political economy that provides incentives to industries and services. (...) However, labor abundance (due to population density) and limited land availability (85% of agricultural land is composed of less than 1 ha farms) have slowed the canonical structural transformation, and widened income inequality between agriculture and non-agricultural workers. In this ‘Lewis trap’ context, intensive livestock (as it is the case for aquaculture and horticulture) has played a significant role in increasing labor and land productivity, offering some perspectives to secure smallholder agricultural systems. But the emergence of those very intensive systems producing a lot of effluents has in the same time jeopardized sustainable development of rural and peri-urban areas. More recently, the political shift towards industrial corporate agriculture and large-scale farming has increased this pressure on the environment, and endangered inclusive agricultural development. Today, smallholder farming and rural communities encounter many challenges to exploit resources efficiently and gain access to input markets to achieve higher productivity and value added. To avoid the risk of poverty trap and to pursue a sustainable and inclusive development over the long run, deeper and wider reforms are needed based on smallholder viability, agroecological principles, and crop-livestock integration. (shrink)

This paper discusses the influence of digital media and its online presence on freedom of speech in Vietnam by analyzing three different kinds of emerging online media tools: blogosphere, electronic/online newspapers, and social media networks (SNSs). As a single- party socialist republic country, the controlling power of the media lays in the hands of the Communist Party of Vietnam (CPV). The Doi Moi reform in 1986, marketization and the introduction of the Internet in 1997 have slightly transformed (...) the Vietnamese media environment, however, it remains highly restricted. This paper explores several sources including academic research, research articles, as well as analysis of online press coverage in the Vietnamese media environment to examine governmental control over the media which influences the free flow of information. Understanding digital media developments within the Vietnamese online media environment helps us to understand how Vietnamese netizens utilize these tools to maximize their online freedom of speech, the CPV"s approach to regulate the Internet in order to maintain its legitimacy, and several challenges facing Vietnamese netizens including bloggers, journalists, and the wider public in the digital age. (shrink)

This thesis consists of three substantive studies about the Vietnam stock market. In particular, I study the asymmetric information, corporate governance (CG) practices, and foreign investment of publicly listed companies in Vietnam, presented in Chapters 2, 3, and 4, respectively. In Chapter 2, I investigate the effectiveness of a market surveillance system (MSS) on improving the market quality of the Vietnam stock market, as measured by liquidity and informed trading level. I find that (...) market liquidity decreased after the introduction of the MSS, and that the effect is more pronounced for small firms. Although informed trading, on average, does not change significantly after the MSS, subsample analysis indicates a significant decrease in informed trading among large and liquid firms. In Chapter 3, I investigate the relationship between firms’ CG practices and informed trading. I find a negative relationship between the two variables. Firms with better CG practices have a lower level of informed stock trading. Moreover, a natural experiment on a shock of firms’ CG practices generated by the CG policies shows that the negative relationship between CG practices and informed trading is a causal one, in which a change in the former causes a change in the latter. In another analysis around the implementation of the MSS, I find that the implementation of the surveillance system affects the relationship between the two variables, and this effect is driven by large and liquid firms. In Chapter 4, I investigate whether foreign investors in the Vietnam stock market are informed about firms’ performance. Using the residuals of foreign investor ownership as a measure of the abnormal foreign investor holding, I find that the abnormal foreign investor holding is positively correlated with firm performance in the following one year. I also find a positive correlation between abnormal foreign investor holding and the stock returns in the next three quarters. These findings indicate that foreign investors are informed about the firms up to a one-year period. (shrink)

Authors' affiliation: Centre Emile Bernheim, Solvay Brussels School of Economics & Management, Université Libre de Bruxelles; 50 Avenue Franklin D. Roosevelt, B-1050, Bruxelles, Belgium. ... Journal: Economic Studies, Volume 44, Number 9, Serial Number 316. ... Publisher: Vietnamese Academy of Social Sciences – Vietnam Institute of Economics. ... Suggested citation: Farber, A. & Vuong, QH (2004) “New empirical results on anomalies and herd behaviors: Vietnam stock market 2000-2004,” Economic Studies.

Social developments/events of three different periods (Elizabethan Period (1558-1603), Jacobean Period (1603-1625) and Caroline Period (1625-1649) might have had great impact on Ben Jonson’s writing the play Volpone. In this qualitative study (conducted with literature research on the topic), Volpone through which he best reflected his corrupted society at that time will be examined. The play will be analysed to illuminate the native features related to the market economy. The economic sight based on commodity has such a great power (...) in changing the characters of the people, losing their morals because of their greed towards the power and wealth during the mentioned period. Another point to be discussed is to reckon whether Ben Jonson as a Dramatist had contrary opinions against the developing capitalist world. In the study, it has been found that the play of Volpone (the fox) depicts one of the best evidence how the characters can be changed through materialism. As a main character, he is a wealthy Venetian nobleman and exceptionally cunning, who devises a plan (pretending to die) with the assistance of his henchman (Mosca/ fly) to exploit his relatives waiting to be an heir of him. The play shows how his relatives flatter him and give him the most expensive gifts. He deceives each of them at the end. The play draws attention to the materialistic power of the 16th century. (shrink)

Corruption devours profts, people, and the planet. Ethical leaders promote ethical behaviors. We develop a frst-stage moderated mediation theoretical model, explore the intricate relationships between ethical leadership (member rated, Time 1) and employee ethical behaviors (leader rated, Time 3), and treat ethical climate and organizational justice (member rated,Time 2) as dual mediators and leaders’ moral attentiveness (leader rated, Time 3) as a moderator. We investigate leadership from two perspectives—leaders’ self-evaluation of moral attentiveness and members’ perceptions of ethical leadership. We theorize: (...) These dual mediation mechanisms are more robust for high moral leaders than low moral leaders. Our three-wave data collected from multiple sources, 236 members and 98 immediate supervisors in the Republic of Iraq, support our theory. Specifcally, ethical leadership robustly impacts organizational justice’s intensity and magnitude, leading to high employee ethical behaviors when leaders’ moral attentiveness is high than low. However, ethical leadership only infuences the ethical climate’s intensity but has no impact on the magnitude when leaders’ moral attentiveness is high than low. Therefore, organizational justice is a more robust mediator than the ethical climate in the omnibus context of leader moral attentiveness. Our fndings support Western theory and constructs, demonstrating a new theory for Muslims in Arabic’s emerging markets. Individual decision-makers (subordinates) apply their values (ethical leadership) as a lens to frame their concerns in the immediate (organizational justice and ethical climate) and omnibus (leader moral attentiveness) contexts to maximize their expected utility and ultimate serenity-happiness. Ethical leadership trickles down to employee ethical behaviors, providing practical implications for improving the ethical environment, corporate social responsibility, leader-member exchange (LMX), business ethics, and economic potentials in the global competitive markets. (shrink)

This short conference paper serves as a distillation of a keynote address delivered at the the Second National Conference on Management and Higher Education Trends & Strategies for Management & Administration hosted by Bangkok-based Stamford International University (Thailand) on November 1, 2014. Innovation is discussed as the heart of entrepreneurial processes occurring in today's capitalist economic systems, including transition economies like China and Vietnam, which underscores economic competitiveness of firms and economies. But the innovation effort and process also face (...) dilemma of "entrepreneurial curse of innovation". Advantages and disadvantages are weighed for a more balanced view, especially in the context of outnumbering SMEs and given existence of pitfalls and traps along the innovation path of development. Toward the end, the value of the market is once again stressed amid the concern of subjective assumption and illusion about availability of market opportunities in the mind of innovators, which may contrast totally with the dismal outcome the actual market realities may show ex post. (shrink)

‘Dumping’ is a practice in international trade whereby a product is introduced into the commerce of another country at less than its ‘normal value,’ which might cause or threaten material injury to the domestic industry of the importing country. To address the practice of dumping and provide rules to deal with it, the World Trade Organization (WTO) adopted the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade (1994), known as the Anti-Dumping Agreement (ADA). -/- (...) The ADA sets out anti-dumping investigation procedures that importing countries must follow if they wish to impose anti-dumping measures, which are determined by comparing the normal value and the export price of the goods in question. However, not all countries are treated equally under these arrangements. Countries that are non-market economies (NMEs) are accorded special treatment provided by specific rules, including the option for investigating authorities to resort to surrogate prices in a third country for the purpose of establishing normal value. This application of surrogate prices is referred to as ‘NME treatment’. In the absence of an internationally recognised definition of an NME, each WTO Member has adopted its own definition and/or a list of NMEs. Vietnam, a WTO Member whose economy is moving from being centrally planned to being market-based, is considered an NME by both the United States (US) and the European Union (EU). This research investigates whether the non-market economy status of NMEs such as Vietnam disadvantages exporters in anti-dumping investigations and proceedings. The research analyses legal, procedural and other issues relating to the non-market economy status of NMEs in general and Vietnam in particular, in anti-dumping investigations and proceedings conducted by the US and the EU. The research uses a qualitative methodology design, by which data was collected primarily using desk-based study, supplemented by interviews with anti-dumping experts, Vietnamese exporters and government officials. It involves the examination of international law pertaining to anti-dumping, the US and EU anti-dumping laws and investigation procedures, analysis of the WTO anti-dumping dispute settlement procedures and related jurisprudence, as well as the analysis of Vietnam’s transition to a market economy. -/- The research has found that both the US and EU treat Vietnam as a NME and have developed their own specific methodologies for anti-dumping investigations on exports from Vietnam. Furthermore, it highlights the wide discretion of the US and the EU under their domestic laws in many stages of anti-dumping investigations. -/- The findings also show that the WTO Dispute Settlement Body generally considers the US and the EU practices to be consistent with the ADA provisions. However, certain US and EU practices were found to be inconsistent with the ADA, including ‘zeroing’, limited examination, surrogate country selection, and the imposition of the ‘entity-wide rate.’ Further, by applying these practices, investigating authorities might establish unpredictable normal values that may inflate the estimated dumping margins and ultimately lead to the imposition of a higher than appropriate anti-dumping duty. The analysis concludes that the NME status of countries such as Vietnam disadvantages them when facing claims of dumping. Finally, this thesis provides recommendations for Vietnamese exporters that will serve to improve their competence as defendants/respondents in anti-dumping investigations and proceedings and more effectively demonstrate the degree to which their operations are based on market-based principles. Recommendations are also provided to the Vietnam Government on ways in which it can support Vietnamese exporters in anti-dumping investigations and proceedings. (shrink)

Preservation of the environment, the sphere of the vital activity of the population, cultural heritage, promotion of the healthy lifestyle movement, the implementation of the “green†and resource saving technologies create more active demand for organic goods in the international trade. The ecological, social, economic and institutional merits of organic goods compared with traditional and genetically modified goods as well as the high pace of the growth of the international trade in organic agricultural goods enhance their role in the achievement (...) of the goals of sustainable development. The article considers the international trade in organic goods as sustainable international trade. Based on the authors’ methods of the calculation of the integrated index of development of organic market of 15 developing countries, the positions, factors, prospects and conditions of the development of national markets of organic agricultural goods were identified. It was found that the market of organic goods of the Czech Republic is the most developed and balanced due to the high payment capacity of the population, the policy of the producer’s support, existence of the relevant certification of the produce during delivery to the EU market. The markets of the countries of Europe and Middle East (Poland, Romania, Turkey, and Ukraine) are growing mainly under the influence of supply factors; the markets of Asia and America (China, Brazil and Peru) – under the influence of demand factors, including the demand in the global market. The internal markets of China and India are developed insufficiently. The prospects of the development of markets of organic goods of Mexico, Brazil, India, China, Russia and Chili are related to the stimulation of the internal production of organic goods. In Ukraine, Peru, India, Chili, Mexico and Turkey, it is appropriate to popularize consumption of organic goods. Romania, Czech Republic, Brazil, Turkey, Ukraine and Russia have to facilitate the promotion of their own organic goods to the world market. It was found that a relatively high payment capable demand in the internal market is a necessary condition, and the growth of the share of organic goods in the export structure of the countries is an obligatory condition to enhance the positions of the countries in the global market of organic goods. The condition of an increase in the role of the countries developing in the world market of organic goods and the transition of the world economy to the principles of sustainable development were substantiated. (shrink)

This research investigates whether the non-market economy status of NMEs such as Vietnam disadvantages exporters in anti-dumping investigations and proceedings. The research analyses legal, procedural and other issues relating to the non-market economy status of NMEs in general and Vietnam in particular, in anti-dumping investigations and proceedings conducted by the US and the EU.

Manh-Tung Ho, Khanh-Linh Hoang, Minh-Hoang Nguyen, Manh-Toan Ho (2019). Chapter 8. The emerging business of science in Vietnam. In Quan-Hoang Vuong, Trung Tran (Eds.), The Vietnamese Social Sciences at a Fork in the Road (pp. 163–177). Warsaw, Poland: De Gruyter. DOI:10.2478/9783110686081-013. -/- Online ISBN: 9783110686081 © 2019 Sciendo / De Gruyter.

For many years, the relationship between the financial system and economic growth has attracted the attention of scholars intending to uncover the direction of the relationship. The stock market is a part of the financial system and plays an essential role in channelling equity funds into the economy and creating liquidity for the equity instruments. A substantial empirical study postulates that the stock market can boost the economic growth of an economy. However, other studies assert that, at best, (...) the stock market is an unimportant economic driver. (shrink)

This paper aims at answering the question whether the VN30 index futures introduction has an impact on stock market volatility in Vietnam. Apply GARCH model of volatility with additive dummy variable from 28/7/2000 to 10/9/2020, the result shows that when the first listed index futures contract appears, it makes the volatility of VNIndex increases. The result is still robust after excluding the turmoil period of Vietnam stock market. This paper implies that policy maker should be more (...) careful in promoting derivatives market in Vietnam. (shrink)

This paper uses the evolutionary frame provided by the Victorian jurist Henry Sumner Maine to describe the process by which trust can be seen as the product of a gradual development that starts with small-scale communities and later allows market exchanges to develop themselves. I also argue, using the work of Elinor Ostrom (1990), that trust emerges first within small-scale communities, where first- and second-degree collective action problems need to be resolved. The development of a social disposition to trust (...) is closely linked with an institutional context that encourages individuals to take the externalities of their actions into account. This is made possible by customary mechanisms, as the development of social trust at this stage cannot rely on a mighty “Leviathan”. Therefore, this paper questions the claim that social trust is the product of market exchanges. Market exchanges might favor the further growth of social trust, hands in hands with the right institutional frame. However, this growth is not just the transposition of a previously acquired disposition to trust. The work of Henry Sumner Maine interestingly underlines the importance of the co-development of institutions and trust, from its origin in small communities to its expansion to market exchanges. Both Ostrom’s and Maine’s perspectives underline the fact that trust and trustworthiness are complementary and question a-rational perspectives on trust. This paper also elaborates on the claim, coming from the literature on contract law, that focusing on sanctioning mechanisms can be highly counterproductive. (shrink)

Aim/PurposeThis paper is a review of the progress of the Vietnam socio-economic and development plan and an assessment of the extent to which Vietnam is putting in place the critical social and economic development structures that will enable it to reach the status of “developed nation” in the time set (2020) by its national strategic plan. The research will identify and review trade patterns, trade policy and the effect of foreign aid on Vietnam’s plan to transform its (...) economy and society from a developing nation status to status of developednation. The overriding question stands as “is” Vietnam effec-tively moving towards developed nation statussoon”?BackgroundThis paper examines the history of Vietnam from the command economy in its transition to a market driven economy, the criteria, hurdles and challenges as the country moves towards a developed country status. MethodologyApplied research based on the body of research in socio-economic develop-ment theory, international trade and market theory. The review is conducted by collecting and analyzing data on foreign trade, foreign aid, business and general economic growth, development and social wellbeing. Itidentifies and appraises the trade patterns,trade effects, socio-economic policies and the effect of foreign aid] on the economic growth and the progress of the coun-try towards becoming a developed nation state. (shrink)

The region of South East Asia has developed over the past several years as one of the most rapidly growing aviation markets in the world. Despite the latest economic recession around the world, South East Asia is still reaching substantial growth. With the amount of flexible income increasing for the most inhabitants of the region, the aviation trade can expect to continue this movement. Singapore has been the dominant hub in the region for many years, however, Vietnam is contemplating (...) the practicality of investing in a new airport that they hope would eventually challenge Singapore’s current superiority. (shrink)

Vietnam’s money and capital markets continue to see dramatic stages in the remaining months of 2011 due to high bank rates and also increasing foreign-exchange exposure faced by domestic enterprises.

In the meantime, critically needed is a comprehensive regulatory framework that enables not only state-owned but also non-state enterprises to be able to issue a wide range of bonds legitimately. This move will certainly pave the way towards a functional corporate bond market and open up the funding channel for enterprises via bond issues.

Vietnam continuously liberalizes the financial market as a requirement for its accession to the World Trade Organization in 2007. This paper discusses the foreign investors’ expectation and their experience when penetrating into Vietnam’s market. The role of the foreign entrants is also assessed. By synthesizing and analyzing relevant research and reports, several important insights are discovered. Firstly, the presence of foreign investors and banks improves market competition, efficiency, and stability. Wholly and partly foreign-owned banks provide (...) the spillover effects in management quality, in the introduction of world standard banking products and services, and in the application of information technology. Secondly, by looking into the foreign owned banks, it is found that the banks’ foreign investors are not likely to play an influential role in managing the banks they invested in. The motive of the investors to control the invested companies leads to their decision of holdings withdrawing. (shrink)

Purpose ‐ The purpose of this paper is to explore the "resource curse" problem as a counter-example of creative performance and innovation by examining reliance on capital and physical resources, showing the gap between expectations and ex-post actual performance that became clearer under conditions of economic turmoil. Design/methodology/approach ‐ The analysis uses logistic regressions with dichotomous response and predictor variables on structured tables of count data, representing firm performance as an outcome of capital resources, physical resources and innovation where appropriate. (...) Findings ‐ Key findings relevant to economic and business practice follow. First, a typical characteristic of successful Vietnamese firms in the transition period is their reliance on either capital resources or physical asset endowments. Second, poor performers exhibit evidence of over-reliance on both capital and physical assets. Third, firms that relied on both types of resources tended to downplay creative performance. Some evidence suggests that firms face more acute problem caused by the law of diminishing returns in troubled times. Fourth, the "innovation factor" has not been tapped as a source of economic growth. Research limitations/implications ‐ This study has some limitations. The size of the survey sample is approximately 150 firms, while the potential sample of > 300 should be possible in the future. When the size increases, the research could be expanded to include further variables that will help investigate more deeply into the related issues and business implications. With regard to the implications of the study, the absence of innovations has made the notion of "resource curse" identical to "destructive creation" implemented by ex-ante resource-rich firms, and worsened the problem of resource misallocation in transition turmoil. The Vietnamese corporate sector's addiction to resources may contribute to economic deterioration, through a downward spiral of lower efficiency leading to consumption of more resources. Practical implications ‐ Insights obtained from this study could save transition economies' resources which have almost always been considered sine qua non before any critical major policymaking, while this is not necessarily true, and in many cases, even counterproductive. Originality/value ‐ Original data set on Vietnam stock market are collected, processed, prepared and used by the authors. Original design by the authors for regression equations with dichotomous predictor variables: dependence on endowed physical assets, reliance on capital resources and significant signs of creative performance/innovations. Original idea of viewing "resource curse" as absence of innovation and due to uncreative "destructive creation" of poor-performing commercial operations by resource-rich firms is used in the paper. We have searched the literature in business research and found that the empirical results have not been previously reported. (shrink)

Tightened border controls, agile health departments, tech platforms, and a hand-washing song that went viral have added up to a frugal but highly effective response to the threat of COVID-19. The country's success provides a model that other developing and emerging economies should follow.

Customer behavior, market dynamics, and technological advances have made it challenging for marketing theorists to provide comprehensive explanations and actionable insights. Although there are numerous substantive marketing frameworks, no formal marketing theory exists. This study aims to develop the first formal grounded theory in marketing by incorporating artificial intelligence and Forde's conceptual framework as a guiding lens. Charmaz's constructivist grounded theory tradition and Forde's conceptual framework and data analysis strategy were employed for this purpose. The data analysis strategy used (...) with grounded theory’s constant compare-and-contrast method comprises holistic and systems thinking, dramaturgical and situational analysis, perspective-taking, and deconstruction. To evaluate Glaser’s assertion that all is data, artificial intelligence was incorporated into the research as the data source for retrieving the theoretical samples to address the primary research question: How can Forde's conceptual framework and artificial intelligence be leveraged to develop a formal marketing theory grounded in evidence? Of significance was the emergence of democratic marketing behaviors and the normalization of anti-democratic marketing approaches leveraged to manipulate buyers or gain access to segments of customers. Buyers and sellers can simultaneously benefit from and be prejudiced by marketing exchange dynamics. This finding lends credibility to the newly emerged framework of strategic actions where empowerment and disempowerment are leveraged to achieve specific goals. Considering this finding, it is suggested that businesses view marketing as a symbiotic relationship between two power centers, buyers and sellers, who respectively strive to maintain human dignity and sustainability. Researchers are encouraged to apply the framework across substantive areas, international markets, public relations, political campaigns, and others. (shrink)

Introduction. Higher education plays a particularly important role in the development of a country. The goal of the article is to describe the development of concepts about education in general and higher education in particular to explain the role of education in social life. Humboldt sees higher education as a process toward freedom and the search for true truth. Humboldt's philosophy of higher education is an indispensable requirement in the context of people struggling to escape the influence of the state (...) and church forces. The purpose is to find out the content and principles of higher education, especially meaningful suggestions for building an autonomous education in Vietnam today. Materials and Methods. The article uses materialist dialectic to analyze Humboldt's philosophy of higher education. In addition, the article also uses methods of analysis, synthesis, comparison and contrast to clarify views on education in the history of human thought from ancient, medieval, modern and modern times, from which to draw the basic contents and principles in the philosophy of higher education of Humboldt. Results and Discussion. Humboldt is the founder of the University of Berlin - known as the mother of modern universities. It is a new university model based on the philosophy of upholding freedom in learning and teaching, upholding the scientific spirit to seek and discover the truth, and at the same time, combining teaching with scientific research. His liberal education philosophy has contributed to affirming the strength and position of universities. He criticized state intervention in university institutions. Based on the anthropological foundation of emphasizing human diversity, Humboldt's higher education philosophy is truly liberating when it comes to bold views. Humboldt believes that a university is a pure place of science and research, so it is not influenced by any outside force, even from the state. A university is where academic freedom, scientific freedom and other autonomy are guaranteed so that the institution can run smoothly. Universities must have unity between research and teaching. However, Humboldt's philosophy of higher education still contains many issues that need to be considered thoroughly. Specifically, the promotion of internal self-determination requires financial autonomy while the state's investment capital in universities is still quite large; Calling for education to be privatized is still inadequate. The elitist spirit in the Humboldt model is no longer fully relevant in the context of a market economy that tends to lead to the pursuit of targets, which are often related to quality. Practical significance. Humboldt's liberal philosophy of higher education has a strong influence, dominates and becomes a reality in many countries with advanced education. For Vietnam, Humboldt's higher education philosophy is a meaningful suggestion to build an autonomous education under the country's socio-historical conditions. (shrink)

Food security is one of the major concerns in the Philippines. Although livestock and poultry production accounts for a significant proportion of the country’s agricultural output, smallholder households are still vulnerable to food insecurity. The current study aims to examine how livestock production and selling difficulties affect smallholder households’ food-insecure conditions. For this objective, Bayesian Mindsponge Framework (BMF) analytics was employed on a dataset of the Food and Agriculture Organization’s Data in Emergencies Monitoring (DIEM) system. We found that production and (...) selling difficulties significantly adversely affect food insecurity in the Philippines. However, their effects vary according to the severity of food insecurity. In particular, production and selling difficulties affect the households’ likelihood of eating less healthy and nutritious food equally. However, the production difficulties have more negligible impacts on the possibility of skipping meals and even ambiguous impacts on the likelihood of not eating for a whole day compared to the effects of selling difficulties. Moreover, we also found that the market plays a crucial role in facilitating not only livestock trading but also livestock production (e.g., purchase of feed and medicines). Based on these findings, we suggest that the livestock market needs to be expanded and regulated to maintain the balancing prices between livestock products and products and services used for livestock production, and facilitate the product-exchanging mechanism. (shrink)

Vietnam, with a geographical proximity and a high volume of trade with China, was the first country to record an outbreak of the new Coronavirus disease (COVID-19), caused by the Severe Acute Respiratory Syndrome Coronavirus 2 or SARS-CoV-2. While the country was expected to have a high risk of transmission, as of April 4, 2020—in comparison to attempts to contain the disease around the world—responses from Vietnam are being seen as prompt and effective in protecting the interests of (...) its citizens, with 239 confirmed cases and no fatalities. This study analyzes the situation in terms of Vietnam’s policy response, social media and science journalism. A self-made web crawl engine was used to scan and collect official media news related to COVID-19 between the beginning of January and April 4, yielding a comprehensive dataset of 14,952 news items. The findings shed light on how Vietnam—despite being under-resourced—has demonstrated political readiness to combat the emerging pandemic since the earliest days. Timely communication on any developments of the outbreak from the government and the media, combined with up-to-date research on the new virus by the Vietnamese science community, have altogether provided reliable sources of information. By emphasizing the need for immediate and genuine cooperation between government, civil society and private individuals, the case study offers valuable lessons for other nations concerning not only the concurrent fight against the COVID-19 pandemic but also the overall responses to a public health crisis. (shrink)

As the world’s population grows and urbanization continues, the global waste crisis is becoming more severe, especially in developing countries. Without proper waste management, they may encounter various environmental and health risks. Biological technologies are regarded as promising waste management and recycling approaches in developing countries due to their cost-effectiveness and capability to handle diverse waste categories. One prominent technology in this aspect is the vermicomposting of organic waste utilizing the black soldier fly larvae. Nevertheless, significant financial resources are still (...) necessary to advance and expand biological waste treatment, which requires the participation of businesses. By examining waste management companies listed on the Vietnamese stock market, we highlight two challenges that hinder the adoption and scaling of the waste treatment system using black soldier flies and potentially other biological technologies in Vietnam. Specifically, the business regards the environmental services they offer primarily as a means to generate profit rather than as a genuine commitment to environmental preservation, and the values of companies operating in the environmental sector, particularly in waste management, have been significantly undervalued by the Vietnamese investing public. Therefore, we advocate for societal shifts toward the eco-surplus culture and apply the semiconducting principle of monetary and environmental values exchange to address the problem. (shrink)

Emergency contraception — also known as the morning after pill — is marketed and sold, under various brand names, in over one hundred countries around the world. In some countries, customers can purchase the drug without a prescription. In others, a prescription must be presented to a licensed pharmacist. In virtually all of these countries, pharmacists are the last link in the chain of delivery. This article examines and ultimately rejects several standard moves in the bioethics literature on the right (...) of pharmacists conscientiously to refuse to dispense emergency contraception. Its central thesis is that the standard ‘moderate’ solution to this problem is mistaken. Thus, when all publicly relevant interests are given their due, it is not acceptable to allow refusals in the big city, where pharmacies are plentiful, but forbid them in rural settings, where pharmacies are scarce. Rather, there should be strong public policy requiring that all pharmacists dispense emergency contraception to customers who request it, regardless of pharmacists' moral or religious objections. (shrink)

Vietnam has seen fast-rising debts, both domestic and external, in recent years. This paperreviews the literature on credit market in Vietnam, providing an up-to-date take on the domesticlending and borrowing landscape. The study highlights the strong demand for credit in both therural and urban areas, the ubiquity of informal lenders, the recent popularity of consumer financecompanies, as well as the government’s attempts to rein in its swelling public debt. Given thehigh level of borrowing, which is fueled by (...) consumerism and geopolitics, it is inevitable that theamount of debt will soon be higher than the saving of the borrowers. Unlike the conventional wisdom that creditors have more bargaining power over the borrowers, we suggest that—albeitlacking a quantitative estimation—when the debts pile up so high that the borrowers could not repay, the power dynamics may reverse. In this new politics of debt, the lenders fear to lose the money's worth and continue to lend and feed the insolvent debtors. The result is a toxic lending/borrowing market and profound lessons, from which the developing world could learn. (shrink)

This study delves into the feasibility of introducing a market in Barangay Tanagan, Calatagan, Batangas, with a primary focus on assessing its viability and potential impact on local economic development. Utilizing survey questionnaires and employing statistical analysis techniques, the research gathered data from a carefully selected sample of 366 residents out of the total population of 4,224. The study evaluates both the potential benefits and challenges associated with establishing the proposed market. Findings, subjected to thorough analysis through methods (...) such as frequency counts and weighted mean calculations, provide valuable insights into discernible patterns, emerging trends, and relevant correlations. This analytical approach contributes to a pragmatic perspective that informs and guides future studies in the field. The study reveals an interest among respondents in the establishment of public markets in their vicinity, recognizing its potential to bolster the barangay and attract diverse opportunities. The anticipated positive impact extends to fostering economic growth and enhancing local commerce in Barangay Tanagan. Consequently, based on these compelling findings, the researchers advocate for a proposal outlining the establishment of a public market in Barangay Tanagan as a means of addressing the identified needs and aspirations of the community. (shrink)

This research, aims to develop a conceptual framework to assess the entrepreneurial properties of the Vietnamese reform, known as Doi Moi, even before the kickoff of Doi Moi policy itself. The authors argue that unlike many other scholars’ assertion, economic crisis and harsh realities were neither necessary nor sufficient conditions for the reform to take place, but the entrepreneurial elements and undertaking were, at least for the case of Vietnam’s reform. Entrepreneurial process, on the one hand, sought structural changes (...) and kicked off innovation, and on the other hand, its induced outcome further invited changes and associated opportunities. The paper also concludes that an assessment of possibility for the next stage of Doi Moi should take into account the entrepreneurial factors of the economy and predict the emergence of new entrepreneurial facets in the next phase of economic development. (shrink)

Along with the promulgation of 2008 Law on Anti-Corruption, thanking to the comprehensive solutions and determinations of the whole governmental apparatus, there are signals of a positive change in the fight against corruption in Vietnam’s market economy. However, compared to other countries around the world, the corruption in Vietnam is still a national problem. The number of corruption cases may decline, but the scale and severity has been increasing. Many cases has involved high-ranking officials in the government (...) with more than 20 general officers in the armed forces to be sentenced. On the basis of analysing the current situation of corruption in recent years, the author hereby recommends some synchronous solutions to improve the effectiveness of anti-corruption. (shrink)

This study examines the effects of ownership structure on firm performance in the Vietnamese stock market using a sample of 76 manufacturing companies listed on the Ho Chi Minh Stock Exchange (HOSE) during 2007-2015. Firm performance is measured by Tobin’s Q, and ownership structure is investigated in three different aspects: managerial ownership, block ownership and state ownership.

In Vietnam, regionalisation in the GMS occurs in different parts at different paces and levels driven by the central government and with the participation of the local governments, private sector and grassroots people in the framework of the GMS Program. So far there has been no major research either in Vietnamese or English that addresses this issue. The thesis seeks to fill this gap by examining the empirical process of regionalisation in three Vietnam’s border towns in the First-Generation (...) GMS Economic Corridor Town Development Project. Employing analytical framework based on relevant International Relations and interdisciplinary theories, and a mix of qualitative and quantitative methods, the thesis finds that the GMS regionalisation is a combination of ‘top-down’ and ‘bottom-up’ processes. The thesis commences by highlighting the significance of the Mekong River to the development of the region. Then various multilateral cooperative schemes are explored to generate a complete picture of regional cooperation. It is concluded that many multilateral mechanisms with little progress may have negative impacts on the regionalisation in the GMS. Among 13 schemes in the GMS, GMS Program is considered as one of the most well-known subregional cooperation schemes. The GMS Program came to existence just in time to assist the Mekong riparian states to integrate better into the regional and international markets in the context that there were new developments both at the regional and world’s levels. In the case of Vietnam, the GMS Program has given Hanoi an option to carry on its omni-directional foreign policy and helped it consolidate its existing relationships with its traditional and neighbouring partners. Notably, regionalisation is occurring in some parts of the country where GMS projects have been implemented. Regionalisation can be best observed in economic space where there are intensive interactions among people under various dimensions enabled by favourable policies. Although regionalisation promises to bring new cooperative opportunities in the GMS, regionalisation in the GMS will continue to meet new challenges from growing natural and man-made threats to the Mekong River. Further, the involvement of outsiders is also a real challenge to the regionbuilding process. (shrink)

Background: Increasing resistance of Pseudomonas aeruginosa to ciprofloxacin in ICU/burn units has created a problem in the treatment of infections caused by this microorganism. -/- Methods: Fifty P. aeruginosa strains were isolated from burn patients hospitalized in the Kerman Hospital during May 1999-April 2000 and were tested for in-vitro sensitivity to different antibiotics by disc diffusion breakpoint assay. The isolates were subjected to minimum inhibitory concentration (MIC) test by agar dilution method. Existence of the plasmids was also investigated in the (...) isolates. -/- Results: Thirty-four patients infected with ciprofloxacin strains showed MIC of 8 mg/ml [p<0.001]. Sixteen patients were infected with sensitive strains exhibiting MIC range of 0.0125-0.125 ± 0.033 mg/ml. The isolates were also also resistant to other antibiotics [p<0.001]. Plasmid isolation and agarose gel electrophoresis (0.7%) revealed three plasmid bands in strains 8 and 16, and one band in strain 35. -/- Conclusion: The emergence of ciprofloxacin resistance of P. aeruginosa in burn patients is alarming since this antibiotic has only recently been introduced onto the market in Iran. One important observation was that some isolates exhibited cross resistance to other antibiotics. Furthermore, some strains were carriers of plasmids which might have acted as the potential source of acquired resistance in the hospital setting. -/- . (shrink)

This study aims to determine driving factors significantly influencing the purchase intention and to identify impediments creating the intention –behavior gap regarding organic food consumption in Vietnam. The chosen driving factors affecting the organic food purchase intention in this study are health benefits, environmental awareness, and social norms, whereas trust, price, and convenience as well as availability are investigated as deterrent factors of the link between intention and behavior. A structured online questionnaire with snow-balling sampling method was distributed to (...) collect a representative sample of 466 Vietnamese consumers nationwide. A five-point likert scale was used for the level of approval for 36 statements. Statistical tools of SPSS 22.0 including descriptive analysis, principal component analysis, and multiple regression analysis models were used for data analysis. The results showed that health benefits, environmental awareness, and social norms were facilitators of organic food purchase intention. Although high intention to purchase organic foods was identified in Vietnam, it was not translated into actual purchase behavior. The main barriers for the inconsistency were premium price and low availability of organic products or inconvenience to buy in the market. Lack of trust insignificantly impacted on organic food choices among Vietnamese consumers in this study. These empirical findings and suggestions are beneficial for all players across supply chains. (shrink)

This article discusses the management of cycli- cal dynamics of the credit sphere. Considering the fact that conventional methods of monetary policy proved to be vulnerable to the process of accumula- tion and realization of risk in the credit sector, we aim to study heterodox methods of credit market regula- tion – administrative (direct) methods of control over fluctuations on the credit market. In particular, based on the analysis of credit limits used in the Socialist Republic of (...) class='Hi'>Vietnam, we come to conclusion about comparative effectiveness of this method in curbing excessive amplitude of the credit cycle. However, the price of using this method may be connected with re- duction in the rate of economic growth and a shift in the accumulation of risk to other areas of the credit market. (shrink)

The ontology of marketing, particularly the question of what products and brands are, is still largely unexplored. The ontological status of brands hinges on their relationship with products. Idealists about brands see perceptual or cognitive acts of consumers grouped under the heading ‘brand awareness’ or ‘brand image’ as constitutive for the existence of brands so that, in their view, tools of the marketing mix can influence relevant mental dispositions and attitudes. Brand realists, on the other hand, reject the view of (...) brands as mere marks or names and interpret them as emergent products with properties that afford branding in the sense of Gibson’s ecological psychology. Brand strength is a function of the degree to which brands occupy defensible niches in product space. Branding as a process involves changing external or internal boundaries of products. Several arguments are proposed in favor of brand realism. The fragments of an ontology of marketing are developed in a broadly Aristotelian framework. Brand realism has significant implications for a new understanding of issues ranging from the effects of advertising to financial brand valuation, the nature of trademarks, and marketing strategy in general. It permits one to treat brand equity as a real phenomenon not dependent on associations, attitudinal states such as brand loyalty, or spurious constructs such as brand character or personality. (shrink)

The paper focuses itself on discussing the trend and practice of entrepreneurship education and training (EET) at tertiary level in the world. The author also supports the idea that entrepreneurship can be learnt through EET programs under certain circumstances. After examining the Vietnamese context for private entrepreneurs, including the government’s policy and the practice on startup since its independence in 1945, his analysis shows that Vietnam is a prospective market not only for domestic business people but also for (...) foreign investors. Then, with the massive influx of fresh graduates who are well prepared for job seeking, he recommends introducing EET programs formally to nurture entrepreneurial spirit among university students. It is supposed that the inclusion of EET programs at the tertiary level not only helps minimize the unemployment rate among new graduates on the present-day labor market but also contributes to generating jobs for others. (shrink)

This thesis contains three studies which provide theoretical analysis and empirical evidence on the decision-making of farm households under shocks and imperfect markets in Vietnam. The first study attempts to investigate the effects of the 2007-08 global food crisis on the investment, saving and consumption decisions of household producers by using the panel data of the Vietnam Household Living Standard Survey (VHLSS), covering 2006 and 2008. The results show that the high food prices had a positive effect on (...) only fixed asset investments in the period of the crisis. When the price shocks are incorporated in the financial conditions, the findings reveal that the effects of household incomes, loans obtained and land sizes matter. The second study uses the Vietnam Access to Resources Household Survey (VARHS) of 2010 to assess the determinants of chemical fertiliser adoption for rice cultivation, and effects on productivity and household welfare. The analysis implements both nonparametric (propensity score matching) and parametric (instrumental variables) approaches. The findings show determinants affecting decision of adoption differ from those affecting decision of adoption intensity. The results show unsurprisingly positive impact on outcomes, but focus on advantage of using parametric approach to estimate these impacts. The third study employs a sub-sample from the 2008 VHLSS that is restricted to rural areas and to children from 10 to 14 years old to explore the relationship between farmland and the employment of children on their family’s farm. The hypothesis is tested in three models (the Tobit, Heckit and double-hurdle models), in which the dependent variables are examined for two stages of decision-making, including the probability of participation and the extent of participation. Empirical evidence supports the hypothesis that child labour increases in land-rich households and decreases in land-poor households. (shrink)