Toàn cầu hóa tài chính, toàn cầu hóa thương mại và tăng trưởng kinh tế: Nghiên cứu trường hợp Việt nam
Ngày xuất bản:
26/12/2024
Ngày xuất bản Online:
25/12/2024
Chuyên mục:
Bài nghiên cứu
Nội dung chính của bài viết
Tóm tắt
Bài nghiên cứu này tập trung vào việc phân tích tác động của toàn cầu hóa tài chính và toàn cầu hóa thương mại đến tăng trưởng kinh tế tại Việt Nam. Trong đó, toàn cầu hóa tài chính và toàn cầu hóa thương mại được đo lường thông qua chỉ số tổng hợp, thay vì sử dụng các chỉ số thành phần như hầu hết các nghiên cứu trước. Mẫu dữ liệu được thu thập tại Việt Nam, đây là một quốc gia đang hướng đến toàn cầu hóa nhằm thúc đẩy tăng trưởng kinh tế. Đối với phương pháp ước lượng, các tác giả sử dụng phương pháp độ trễ phân phối tự hồi quy (ARDL) để ước lượng mô hình nghiên cứu, phương pháp này có ưu điểm khi ước lượng mô hình nghiên cứu với quy mô mẫu dữ liệu còn hạn chế, điều này phù hợp với các quốc gia đang phát triển như Việt Nam. Kết quả nghiên cứu cho thấy toàn cầu hóa tài chính và toàn cầu hóa thương mại có vai trò quan trọng đối với tăng trưởng kinh tế tại Việt Nam trong cả ngắn hạn và dài hạn. Cụ thể, toàn cầu hóa thương mại tỏ ra quan trọng hơn so với toàn cầu hóa tài chính khi thúc đẩy tăng trưởng kinh tế trong dài hạn. Tuy nhiên, toàn cầu hóa tài chính lại có hiệu quả hơn so với toàn cầu hóa thương mại khi thúc đẩy tăng trưởng kinh tế trong ngắn hạn. Với kết quả này, bài nghiên cứu đã đạt được thành công nhất định khi tìm thấy bằng chứng thực nghiệm về vai trò của toàn cầu hóa tài chính và toàn cầu hóa thương mại đến tăng trưởng kinh tế tại Việt Nam.
Abstract
This study focuses on analyzing the impact of financial and trade globalization on Vietnam’s economic growth. Accordingly, in most of the previous studies, financial globalization and trade globalization are measured through composite indexes instead of component indexes . The data sample was collected in Vietnam, a country that is transitioning to globalization to promote economic growth. Regarding the estimation method, the authors use the Autoregressive Distributed Lag (ARDL) method to estimate the research model. This method is advantageous for estimating the research model with a limited data sample size and is suitable for developing countries such as Vietnam. The research results indicate that financial globalization and trade globalization play important roles in Vietnam’s economic growthin both the short and long term. Specifically, trade globalization appears to be more important than financial globalization in promoting economic growth in the long term. Meanwhile, financial globalization is more effective than trade globalization in promoting economic growth in the short term. Thanks to the research results, the study has achieved certain success in finding empirical evidence on the role of financial and trade globalization on Vietnam’s economic growth.
Từ khóa
ARDL; Tăng trưởng kinh tế; Toàn cầu hóa tài chính; Toàn cầu hóa thương mại; Việt Nam
Chi tiết bài viết
Tài liệu tham khảo
Adesoye, A. A., Ajike, Emmanuel, O., & Maku, O. E. (2015). Economic globalization and economic growth in the developing economies: A case of Nigerian economy. International Journal of Economics, Commerce & Management, III (7), 340-355.
Ahmed, F., Kousar, S., Pervaiz, A., & Shabbir, A. (2022). Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries. Borsa Istanbul Review, 22(1), 189-196. https://doi.org/10.1016/j.bir.2021.03.005
Akadiri, A. C., Gungor, H., Akadiri, S. S., & Bamidele-Sadiq, M. (2020). Is the causal relation between foreign direct investment, trade, and economic growth complement or substitute? The case of African countries. Journal of Public Affairs, 20(2), e2023.
Almeida, R., & Fernades, A. (2008). Openness and technological innovations in developing countries: Evidence from firm-level surveys. Journal of Development Studies, 44(5), 701-727. https://doi.org/10.1080/00220380802009217
Aperegdina, G. N. (2022). Examining the influence of trade openness on the economic growth of Ghana. Issues in Economics and Business, 8(1), 29-52.
Baidoo, S. T., Tetteh, B., Boateng, E., & Ayibor, R. E. (2023). Estimating the impact of economic globalization on economic growth of Ghana: Wavelet coherence and ARDL analysis. Research in Globalization, 7(12), 100183. https://doi.org/10.1016/j.resglo.2023.100183
Baldwin, R., Braconier, H., & Forslid, R. (2005). Multinationals, endogenous growth, and technological spillovers: Theory and evidence. Review of International Economics, 13(5), 945-963. https://doi.org/10.1111/j.1467-9396.2005.00546.x
Barro, R. J., & Sala-i-Martin, X. (1997). Technological diffusion, convergence, and growth. Journal of Economic Growth, 2(1), 2-26.
Bhanumurthy, N. R., & Kumawat, L. (2020). Financial globalization and economic growth in South Asia. South Asia Economic Journal, 21(1), 31-57. https://doi.org/10.1177/13915614209090
Bogdan, Z., Skrbic, M. D., & Sonje, V. (2014). International capital flows and economic growth in CESEE: A structural break in the great recession (FEB Working Paper series Paper No.14-04). Zagreb: University of Zagreb. orcid.org/0000-0002-7611-2071 mail
Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth? Journal of International Economics, 45(1), 115-135. https://doi.org/10.1016/S0022-1996(97)00033-0
Chibalamula, H. C., Evans, Y., Kachelo, M., & Bamwesigye, D. (2023). The effect of foreign direct investment and trade openness on economic growth: Evidence from five African countries. AGRIS On-Line Papers in Economics and Informatics, 15(1), 35-46. 10.22004/ag.econ.334657
Coulibaly, R. G. (2023). International trade and economic growth: The role of institutional factors and ethnic diversity in sub-Saharan Africa. International Journal of Finance and Economics, 28(1), 355-371. https://doi.org/10.1002/ijfe.2424
Dickey, D., & Fuller, W. (1979). Distribution of the estimators for autoregressive time series with unit root. Journal of the American Statistical Association, 74(366a), 427-432.
Dreher, A. (2006). Does globalization affect growth? Evidence from a new index of globalization. Applied Economics, 38(10), 1091-1110. https://doi.org/10.1080/00036840500392078
Duodu, E., & Baidoo, S. T. (2022). The impact of capital inflows on economic growth of Ghana: Does quality of institutions matter? Journal of Public Affairs, 22(1), e2384. https://doi.org/10.1002/pa.2384
Egbetunde, T., & Akinlo, A. E. (2015). Financial globalization and economic growth in Sub-Saharan Africa: Evidence from panel cointegration tests. African Development Review, 27(3), 187-198. https://doi.org/10.1111/1467-8268.12140
Friedrich, C., Schnabel, I., & Zettelmeyer, J. (2010). Financial integration and growth: Is emerging Europe different? (Working Paper No. 123). European Bank for Reconstruction and Development (EBRD).
Gaies, B., Goutte, S., & Guesmi, K. (2019). What interactions between financial globalization and instability? Growth in developing countries. Journal of International Development, 31(1), 39-79. https://doi.org/10.1002/jid.3391
Ghatak S., & Siddiki, J. (2001). The use of the ARDL approach in estimating virtual exchange rates in India. Journal of Applied Statistics, 28(5), 573-583. https://doi.org/10.1080/02664760120047906
Grossman, G. M., & Helpman, E. (1993). Innovation and growth in the global economy. The MIT Press.
Gygli, S., Haelg, F., Potrafke, N., & Sturm, J. E. (2019). The KOF globalisation index–revisited. The Review of International Organizations, 14(3), 543-574. https://doi.org/10.1007/s11558-019-09344-2
Hasan, M. A. (2019). Does globalization accelerate economic growth? South Asian experience using panel data. Hasan Economic Structures, 8(26), 2-13. https://doi.org/10.1186/s40008-019-0159-x
Heimberger, P. (2022). Does economic globalisation promote economic growth? A meta- analysis. World Economy, 45(6), 1690-1712. https://doi.org/10.1111/twec.13235
Hossain, M. S., Kibria, M. G., & Islam, M. S. (2018). Does globalization affect the economic growth of Bangladesh? An econometric analysis. Asian Economic and Financial Review, 8(12), 1384-1393. 10.18488/journal.aefr.2018.812.1384.1393
Huchet-Bourdon, M., Le Mouel, C., & Vijil, M. (2018). The relationship between trade openness and economic growth: Some new insights on the openness measurement issue. World Economy, 41(1), 59-76. https://doi.org/10.1111/twec.12586
Hussain, M. E., & Haque, M. (2016). Foreign direct investment, trade and economic growth: An empirical analysis of Bangladesh. Economies, 4(2), 7. https://doi.org/10.3390/economies4020007
Iamsiraroj, S., & Ulubasoglu, M. A. (2015). Foreign direct investment and economic growth: A real relationship or wishful thinking? Economic Modelling, 51(12), 200-213. https://doi.org/10.1016/j.econmod.2015.08.009
Joshua, U., Salami, O. M., & Alola, A. A. (2020). Toward the path of economic expansion in Nigeria: The role of trade globalization. Journal of Labor and Society, 23(2), 205-220. https://doi.org/10.1111/wusa.12471
Kilicarslan, Z., & Dumrul, Y. (2017). Economic impacts of climate change on agriculture: Empirical evidence from the ARDL approach for Turkey. Pressacademia, 6(4), 336-347. https://doi.org/10.17261/Pressacademia.2017.766
Konyeaso, F. U. (2016). Impact of globalization on Nigerian economy. Pyrex Journal of Business and Finance Management Research, 2(10), 109-121.
Kose, M., Prasad, E., Rogoff, K., & Wei, S.-J. (2010). Financial globalization and economic policies. Handbook of Development Economics, Elsevier BV.
Kulu, E., Mensah, S., & Mike Sena, P. (2021). Effects of foreign direct investment on economic growth in Ghana: The role of institutions. Economics of Development, 20(1), 23-34.
Lee, K. -K. (2016). Capital account liberalization and economic growth: The empirical relationship revisited. The Ritsumeikan Economic Review, 64(3), 247-262.
Liyanage, E. (2016). Determinants of capital inflows: Evidence from Sri Lanka. Central Bank of Sri Lanka Staff Studies, 44(1&2), 1-31.
Manu, E. K., Xuezhou, W., Paintsil, I. O., Gyedu, S., & Ntarmah, A. H. (2020). Financial development and economic growth nexus in Africa. Business Strategy and Development, 3(4), 506-521. https://doi.org/10.1002/bsd2.113
Mazumdar, T. (2005). Capital flows into India: Implications for its economic growth. Economic & Political Weekly, 40(21), 2183-2189. http://www.jstor.org/stable/4416675
Mireku, K., Animah Agyei, E., & Domeher, D. (2017). Trade openness and economic growth volatility: An empirical investigation. Cogent Economics and Finance, 5(1), 1385438. https://doi.org/10.1080/23322039.2017.1385438
Nketiah, E., Cai, X., Adjei, M., & Boamah, B. B. (2019). Foreign direct investment, trade openness and economic growth: Evidence from Ghana. Open Journal of Business and Management, 8(1), 39-55. 10.4236/ojbm.2020.81003
Obstfeld, M., & Taylor, A. (2002). Globalization and capital markets (NBER Working Paper, 8846). Washington, DC: National Bureau of Economic Research. https://doi.org/10.7208/9780226065991-005
Olubiyi, E. A. (2014). Trade, remittances and economic growth in Nigeria: Any causal relationship? African Development Review, 26(2), 274-285. https://doi.org/10.1111/1467-8268.12081
Owusu, E. L. (2021). The relationship between foreign direct investment and economic growth: A multivariate causality approach from Namibia. International Journal of Finance and Economics, 26(2), 2990-2997. https://doi.org/10.1002/ijfe.1946
Pahlavani, M., Wilson, E., & Worthington, A. (2005). Trade–GDP nexus in Iran: An application of the autoregressive distributed lag (ARDL) model. American Journal of Applied Sciences, 2(7), 1158-1165.
Papanek, G. F. (1973). Aid, foreign private investment, savings, and growth in less developed countries. Journal of Political Economy, 81(1), 120-130. https://doi.org/10.1086/260009
Pesaran, M. H., Shin, Y., & Smith, R. (2001). Bounds testing approaches to the analysis of level relationship. Journal of Applied Econometrics, 16(3), 289-326. https://doi.org/10.1002/jae.616
Polat, A., Shahbaz, M., Rehman, I. U., & Satti, S. L. (2015). Revisiting linkages between financial development, trade openness and economic growth in South Africa: Fresh evidence from combined cointegration test. Quality & Quantity, 49(2), 785-803. https://doi.org/10.1007/s11135-014-0023-x
Rao, B. B., & Vadlamannati, K. C. (2009). Growth effects of globalization in the low-income African countries: A system GMM panel data approach. MPRA Paper 16595, University Library of Munich, Germany.
Ricardo, D. (1817). On the principles of political economy and taxation. London: John Murray.
Saidi, H., & Aloui, C. (2010). Capital account liberalization and economic growth: GMM system analysis. International Journal of Economics and Finance, 2(5), 122-131. 10.5539/IJEF.V2N5P122
Sakyi, D., Commodore, R., & Opoku, E. E. O. (2015). Foreign direct investment, trade openness and economic growth in Ghana: An empirical investigation. Journal of African Business, 16(1-2), 1-15. https://doi.org/10.1080/15228916.2015.1061283
Sakyi, D., & Egyir, J. (2017). Effects of trade and FDI on economic growth in Africa: An empirical investigation. Transnational Corporations Review, 9(2), 66-87. https://doi.org/10.1080/19186444.2017.1326717
Singh, T. (2010). Does international trade cause economic growth? A survey. World Economy, 33(11), 1517-1564. https://doi.org/10.1111/j.1467-9701.2010.01243.x
Smith, A. (1776). An inquiry into the nature and causes of the wealth of nations, 1st ed. London: W. Strahan.
Suci, S. C. (2015). The impact of globalization on economic growth in ASEAN. International Journal of Administrative Science and Organization, 22(2), 79-87. https://doi.org/10.20476/jbb.v22i2.5696
Tetteh, B., & Ntsiful, E. (2023). A comparative analysis of the performances of macroeconomic indicators during the global financial crisis, COVID-19 pandemic, and the Russia-Ukraine war: The Ghanaian case. Research in Globalization, 7(12), 100174. https://doi.org/10.1016/j.resglo.2023.100174
Thilakaweera, B. H. P. K. (2012). Economic impact of foreign direct investment in Sri Lanka. Central Bank of Sri Lanka Staff Studies, 41(1&2), 89-115.
Tran, T. D., & Nguyen, T. C. V. (2018). Impact of globalization on economic growth in Vietnam: An empirical analysis. Journal of Economics and Development, 20(1), 32-47.
Tursoy, T., & Faisal, F. (2016). Causality between stock price and GDP in Turkey: An ARDL bounds testing approach. Romanian Statistical Review, 4, 3-19.
Udeagha, M. C., & Ngepah, N. (2021). The asymmetric effect of trade openness on economic growth in South Africa: A nonlinear ARDL approach. Economic Change and Restructuring, 54(2), 491-540. https://doi.org/10.1007/s10644-020-09285-6
Ulucak, R. (2019). The effect of globalization on economic growth: Evidence from emerging economies (In emerging economic models for global sustainability and social development). IGI Global.
Wacziarg, R., & Welch, K. H. (2008). Trade liberalization and growth: New evidence. The World Bank Economic Review, 22(2), 187-231. https://doi.org/10.1093/wber/lhn007
Yameogo, C. E., Omojolaibi, J. A., & Dauda, R. O. (2021). Economic globalisation, institutions and environmental quality in Sub-Saharan Africa. Research in Globalization, 3(12), 100035. https://doi.org/10.1016/j.resglo.2020.100035
Yanikkaya, H. (2003). Trade openness and economic growth: A cross-country empirical investigation. Journal of Development Economics, 72(1), 57-89. https://doi.org/10.1016/S0304-3878(03)00068-3
Yennu, A. T. (2018). International trade and economic growth in Ghana - Benefits, constraints and impacts. International Journal of Economics & Management Sciences, 7(4), 1000541.
Ying, Y. -H. (2014). The Impact of Globalization on Economic Growth. Romanian Journal of Economic Forecasting, XVII (2), 25-34.
Young, A. (1991). Learning by doing and the dynamic effects of international trade. The quarterly journal of economics, 106(2), 369-405. https://doi.org/10.2307/2937942
Ze, F., Yu, W., Ali, A., Hishan, S. S., Muda, I., & Khudoykulov, K. (2023). Influence of natural resources, ICT, and financial globalization on economic growth: Evidence from G10 countries. Resources Policy, 81, 103254. https://doi.org/10.1016/j.resourpol.2022.103254
Ahmed, F., Kousar, S., Pervaiz, A., & Shabbir, A. (2022). Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries. Borsa Istanbul Review, 22(1), 189-196. https://doi.org/10.1016/j.bir.2021.03.005
Akadiri, A. C., Gungor, H., Akadiri, S. S., & Bamidele-Sadiq, M. (2020). Is the causal relation between foreign direct investment, trade, and economic growth complement or substitute? The case of African countries. Journal of Public Affairs, 20(2), e2023.
Almeida, R., & Fernades, A. (2008). Openness and technological innovations in developing countries: Evidence from firm-level surveys. Journal of Development Studies, 44(5), 701-727. https://doi.org/10.1080/00220380802009217
Aperegdina, G. N. (2022). Examining the influence of trade openness on the economic growth of Ghana. Issues in Economics and Business, 8(1), 29-52.
Baidoo, S. T., Tetteh, B., Boateng, E., & Ayibor, R. E. (2023). Estimating the impact of economic globalization on economic growth of Ghana: Wavelet coherence and ARDL analysis. Research in Globalization, 7(12), 100183. https://doi.org/10.1016/j.resglo.2023.100183
Baldwin, R., Braconier, H., & Forslid, R. (2005). Multinationals, endogenous growth, and technological spillovers: Theory and evidence. Review of International Economics, 13(5), 945-963. https://doi.org/10.1111/j.1467-9396.2005.00546.x
Barro, R. J., & Sala-i-Martin, X. (1997). Technological diffusion, convergence, and growth. Journal of Economic Growth, 2(1), 2-26.
Bhanumurthy, N. R., & Kumawat, L. (2020). Financial globalization and economic growth in South Asia. South Asia Economic Journal, 21(1), 31-57. https://doi.org/10.1177/13915614209090
Bogdan, Z., Skrbic, M. D., & Sonje, V. (2014). International capital flows and economic growth in CESEE: A structural break in the great recession (FEB Working Paper series Paper No.14-04). Zagreb: University of Zagreb. orcid.org/0000-0002-7611-2071 mail
Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth? Journal of International Economics, 45(1), 115-135. https://doi.org/10.1016/S0022-1996(97)00033-0
Chibalamula, H. C., Evans, Y., Kachelo, M., & Bamwesigye, D. (2023). The effect of foreign direct investment and trade openness on economic growth: Evidence from five African countries. AGRIS On-Line Papers in Economics and Informatics, 15(1), 35-46. 10.22004/ag.econ.334657
Coulibaly, R. G. (2023). International trade and economic growth: The role of institutional factors and ethnic diversity in sub-Saharan Africa. International Journal of Finance and Economics, 28(1), 355-371. https://doi.org/10.1002/ijfe.2424
Dickey, D., & Fuller, W. (1979). Distribution of the estimators for autoregressive time series with unit root. Journal of the American Statistical Association, 74(366a), 427-432.
Dreher, A. (2006). Does globalization affect growth? Evidence from a new index of globalization. Applied Economics, 38(10), 1091-1110. https://doi.org/10.1080/00036840500392078
Duodu, E., & Baidoo, S. T. (2022). The impact of capital inflows on economic growth of Ghana: Does quality of institutions matter? Journal of Public Affairs, 22(1), e2384. https://doi.org/10.1002/pa.2384
Egbetunde, T., & Akinlo, A. E. (2015). Financial globalization and economic growth in Sub-Saharan Africa: Evidence from panel cointegration tests. African Development Review, 27(3), 187-198. https://doi.org/10.1111/1467-8268.12140
Friedrich, C., Schnabel, I., & Zettelmeyer, J. (2010). Financial integration and growth: Is emerging Europe different? (Working Paper No. 123). European Bank for Reconstruction and Development (EBRD).
Gaies, B., Goutte, S., & Guesmi, K. (2019). What interactions between financial globalization and instability? Growth in developing countries. Journal of International Development, 31(1), 39-79. https://doi.org/10.1002/jid.3391
Ghatak S., & Siddiki, J. (2001). The use of the ARDL approach in estimating virtual exchange rates in India. Journal of Applied Statistics, 28(5), 573-583. https://doi.org/10.1080/02664760120047906
Grossman, G. M., & Helpman, E. (1993). Innovation and growth in the global economy. The MIT Press.
Gygli, S., Haelg, F., Potrafke, N., & Sturm, J. E. (2019). The KOF globalisation index–revisited. The Review of International Organizations, 14(3), 543-574. https://doi.org/10.1007/s11558-019-09344-2
Hasan, M. A. (2019). Does globalization accelerate economic growth? South Asian experience using panel data. Hasan Economic Structures, 8(26), 2-13. https://doi.org/10.1186/s40008-019-0159-x
Heimberger, P. (2022). Does economic globalisation promote economic growth? A meta- analysis. World Economy, 45(6), 1690-1712. https://doi.org/10.1111/twec.13235
Hossain, M. S., Kibria, M. G., & Islam, M. S. (2018). Does globalization affect the economic growth of Bangladesh? An econometric analysis. Asian Economic and Financial Review, 8(12), 1384-1393. 10.18488/journal.aefr.2018.812.1384.1393
Huchet-Bourdon, M., Le Mouel, C., & Vijil, M. (2018). The relationship between trade openness and economic growth: Some new insights on the openness measurement issue. World Economy, 41(1), 59-76. https://doi.org/10.1111/twec.12586
Hussain, M. E., & Haque, M. (2016). Foreign direct investment, trade and economic growth: An empirical analysis of Bangladesh. Economies, 4(2), 7. https://doi.org/10.3390/economies4020007
Iamsiraroj, S., & Ulubasoglu, M. A. (2015). Foreign direct investment and economic growth: A real relationship or wishful thinking? Economic Modelling, 51(12), 200-213. https://doi.org/10.1016/j.econmod.2015.08.009
Joshua, U., Salami, O. M., & Alola, A. A. (2020). Toward the path of economic expansion in Nigeria: The role of trade globalization. Journal of Labor and Society, 23(2), 205-220. https://doi.org/10.1111/wusa.12471
Kilicarslan, Z., & Dumrul, Y. (2017). Economic impacts of climate change on agriculture: Empirical evidence from the ARDL approach for Turkey. Pressacademia, 6(4), 336-347. https://doi.org/10.17261/Pressacademia.2017.766
Konyeaso, F. U. (2016). Impact of globalization on Nigerian economy. Pyrex Journal of Business and Finance Management Research, 2(10), 109-121.
Kose, M., Prasad, E., Rogoff, K., & Wei, S.-J. (2010). Financial globalization and economic policies. Handbook of Development Economics, Elsevier BV.
Kulu, E., Mensah, S., & Mike Sena, P. (2021). Effects of foreign direct investment on economic growth in Ghana: The role of institutions. Economics of Development, 20(1), 23-34.
Lee, K. -K. (2016). Capital account liberalization and economic growth: The empirical relationship revisited. The Ritsumeikan Economic Review, 64(3), 247-262.
Liyanage, E. (2016). Determinants of capital inflows: Evidence from Sri Lanka. Central Bank of Sri Lanka Staff Studies, 44(1&2), 1-31.
Manu, E. K., Xuezhou, W., Paintsil, I. O., Gyedu, S., & Ntarmah, A. H. (2020). Financial development and economic growth nexus in Africa. Business Strategy and Development, 3(4), 506-521. https://doi.org/10.1002/bsd2.113
Mazumdar, T. (2005). Capital flows into India: Implications for its economic growth. Economic & Political Weekly, 40(21), 2183-2189. http://www.jstor.org/stable/4416675
Mireku, K., Animah Agyei, E., & Domeher, D. (2017). Trade openness and economic growth volatility: An empirical investigation. Cogent Economics and Finance, 5(1), 1385438. https://doi.org/10.1080/23322039.2017.1385438
Nketiah, E., Cai, X., Adjei, M., & Boamah, B. B. (2019). Foreign direct investment, trade openness and economic growth: Evidence from Ghana. Open Journal of Business and Management, 8(1), 39-55. 10.4236/ojbm.2020.81003
Obstfeld, M., & Taylor, A. (2002). Globalization and capital markets (NBER Working Paper, 8846). Washington, DC: National Bureau of Economic Research. https://doi.org/10.7208/9780226065991-005
Olubiyi, E. A. (2014). Trade, remittances and economic growth in Nigeria: Any causal relationship? African Development Review, 26(2), 274-285. https://doi.org/10.1111/1467-8268.12081
Owusu, E. L. (2021). The relationship between foreign direct investment and economic growth: A multivariate causality approach from Namibia. International Journal of Finance and Economics, 26(2), 2990-2997. https://doi.org/10.1002/ijfe.1946
Pahlavani, M., Wilson, E., & Worthington, A. (2005). Trade–GDP nexus in Iran: An application of the autoregressive distributed lag (ARDL) model. American Journal of Applied Sciences, 2(7), 1158-1165.
Papanek, G. F. (1973). Aid, foreign private investment, savings, and growth in less developed countries. Journal of Political Economy, 81(1), 120-130. https://doi.org/10.1086/260009
Pesaran, M. H., Shin, Y., & Smith, R. (2001). Bounds testing approaches to the analysis of level relationship. Journal of Applied Econometrics, 16(3), 289-326. https://doi.org/10.1002/jae.616
Polat, A., Shahbaz, M., Rehman, I. U., & Satti, S. L. (2015). Revisiting linkages between financial development, trade openness and economic growth in South Africa: Fresh evidence from combined cointegration test. Quality & Quantity, 49(2), 785-803. https://doi.org/10.1007/s11135-014-0023-x
Rao, B. B., & Vadlamannati, K. C. (2009). Growth effects of globalization in the low-income African countries: A system GMM panel data approach. MPRA Paper 16595, University Library of Munich, Germany.
Ricardo, D. (1817). On the principles of political economy and taxation. London: John Murray.
Saidi, H., & Aloui, C. (2010). Capital account liberalization and economic growth: GMM system analysis. International Journal of Economics and Finance, 2(5), 122-131. 10.5539/IJEF.V2N5P122
Sakyi, D., Commodore, R., & Opoku, E. E. O. (2015). Foreign direct investment, trade openness and economic growth in Ghana: An empirical investigation. Journal of African Business, 16(1-2), 1-15. https://doi.org/10.1080/15228916.2015.1061283
Sakyi, D., & Egyir, J. (2017). Effects of trade and FDI on economic growth in Africa: An empirical investigation. Transnational Corporations Review, 9(2), 66-87. https://doi.org/10.1080/19186444.2017.1326717
Singh, T. (2010). Does international trade cause economic growth? A survey. World Economy, 33(11), 1517-1564. https://doi.org/10.1111/j.1467-9701.2010.01243.x
Smith, A. (1776). An inquiry into the nature and causes of the wealth of nations, 1st ed. London: W. Strahan.
Suci, S. C. (2015). The impact of globalization on economic growth in ASEAN. International Journal of Administrative Science and Organization, 22(2), 79-87. https://doi.org/10.20476/jbb.v22i2.5696
Tetteh, B., & Ntsiful, E. (2023). A comparative analysis of the performances of macroeconomic indicators during the global financial crisis, COVID-19 pandemic, and the Russia-Ukraine war: The Ghanaian case. Research in Globalization, 7(12), 100174. https://doi.org/10.1016/j.resglo.2023.100174
Thilakaweera, B. H. P. K. (2012). Economic impact of foreign direct investment in Sri Lanka. Central Bank of Sri Lanka Staff Studies, 41(1&2), 89-115.
Tran, T. D., & Nguyen, T. C. V. (2018). Impact of globalization on economic growth in Vietnam: An empirical analysis. Journal of Economics and Development, 20(1), 32-47.
Tursoy, T., & Faisal, F. (2016). Causality between stock price and GDP in Turkey: An ARDL bounds testing approach. Romanian Statistical Review, 4, 3-19.
Udeagha, M. C., & Ngepah, N. (2021). The asymmetric effect of trade openness on economic growth in South Africa: A nonlinear ARDL approach. Economic Change and Restructuring, 54(2), 491-540. https://doi.org/10.1007/s10644-020-09285-6
Ulucak, R. (2019). The effect of globalization on economic growth: Evidence from emerging economies (In emerging economic models for global sustainability and social development). IGI Global.
Wacziarg, R., & Welch, K. H. (2008). Trade liberalization and growth: New evidence. The World Bank Economic Review, 22(2), 187-231. https://doi.org/10.1093/wber/lhn007
Yameogo, C. E., Omojolaibi, J. A., & Dauda, R. O. (2021). Economic globalisation, institutions and environmental quality in Sub-Saharan Africa. Research in Globalization, 3(12), 100035. https://doi.org/10.1016/j.resglo.2020.100035
Yanikkaya, H. (2003). Trade openness and economic growth: A cross-country empirical investigation. Journal of Development Economics, 72(1), 57-89. https://doi.org/10.1016/S0304-3878(03)00068-3
Yennu, A. T. (2018). International trade and economic growth in Ghana - Benefits, constraints and impacts. International Journal of Economics & Management Sciences, 7(4), 1000541.
Ying, Y. -H. (2014). The Impact of Globalization on Economic Growth. Romanian Journal of Economic Forecasting, XVII (2), 25-34.
Young, A. (1991). Learning by doing and the dynamic effects of international trade. The quarterly journal of economics, 106(2), 369-405. https://doi.org/10.2307/2937942
Ze, F., Yu, W., Ali, A., Hishan, S. S., Muda, I., & Khudoykulov, K. (2023). Influence of natural resources, ICT, and financial globalization on economic growth: Evidence from G10 countries. Resources Policy, 81, 103254. https://doi.org/10.1016/j.resourpol.2022.103254
Trích dẫn bài báo
Linh, N. T. M., & Trang, Đ. T. T. (2024). Toàn cầu hóa tài chính, toàn cầu hóa thương mại và tăng trưởng kinh tế: Nghiên cứu trường hợp Việt nam. Tạp chí Nghiên cứu Tài chính - Marketing, 15(9), 15-30. https://doi.org/10.52932/jfm.v15i9.623
Các bài báo được đọc nhiều nhất của cùng tác giả
- Nguyễn Thị Mỹ Linh, Tương tác giữa FDI và kinh tế ngầm đến tăng trưởng kinh tế tại các quốc gia ASEAN , Tạp chí Nghiên cứu Tài chính - Marketing: Số 76 (2023)
- Nguyễn Thị Mỹ Linh, Tác động của gia nhập chuỗi giá trị toàn cầu đến năng suất các nhân tố tổng hợp – bằng chứng thực nghiệm tại các quốc gia đang phát triển , Tạp chí Nghiên cứu Tài chính - Marketing: Số 61 (2021)