The impact of foreign direct investment on income inequality in Vietnam: A spatial regression approach
0
Online Published:
25/11/2025
Section:
Economics and Economic Management
Main Article Content
Abstract
Vietnam has experienced strong growth in foreign direct investment (FDI); however, income inequality remains at a high level. Therefore, this study utilizes data from 63 provinces and cities in Vietnam over the period 2010 – 2023 and employs a spatial regression model to analyze the impact of FDI and socio-economic factors on income inequality. The results indicate that FDI, population, domestic private investment, and public investment are negatively correlated with income inequality, while unemployment rate, institutional quality, and public expenditure contribute to increased income inequality. Urbanization rate and technological capacity show no significant impact. The study recommends directing FDI towards poorer regions and labor-intensive sectors, as well as strengthening vocational training. Policies for attracting and utilizing FDI should be designed to promote inclusive growth and reduce income disparities across regions.
Keywords
FDI; Income inequality; Vietnam
Article Details
Field of Economic (JEL Codes)
E64 - Incomes Policy • Price Policy - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook, F21 - International Investment • Long-Term Capital Movements - International Factor Movements and International Business, F63 - Economic Development - Economic Impacts of Globalization
References
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Do, Q. A., Do, A. D., Doan, M. H., Le, Q. H., Le, A. D., & Nguyen, T. T. D. (2024). Spatial effects of foreign direct investment on wage inequality in Vietnam. Cogent Economics & Finance, 12(1). https://doi.org/10.1080/23322039.2023.2293297
Duong Quynh Nga, Nguyen Phan Hanh Nguyen, & Cao Minh Tri (2017). Tác động của đầu tư trực tiếp nước ngoài đến bất bình đẳng thu nhập [The impact of foreign direct investment on income inequality in Vietnam. Tạp chí Công Thương. https://tapchicongthuong.vn/tac-dong-cua-dau-tu-truc-tiepnuoc-ngoai-den-bat-binh-dang-thu-nhap-49595.htm
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Gam, T. T. H., Oanh, D. L. K., & Dang, N. M. B. (2023). The impact of foreign direct investment on income inequality in developing countries: The Bayesian approach. Jurnal Ekonomi & Studi Pembangunan, 24(1), 127–143. https://doi.org/10.18196/jesp.v24i1.18164
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Ho Dinh Bao, Nguyen Phuc Hai, Do Quynh Anh, & Tran Toan Thang (2020). Tác động của đầu tư trực tiếp nước ngoài tới bất bình đẳng thu nhập ở Việt Nam [Impacts of foreign direct investment on income inequality in Vietnam]. Tạp chí Quản lý và Kinh tế quốc tế, 131, 50–64. https://drive.google.com/file/d/1Z8FBw6BJ8sXwMXKkDzvLw_sG5FRWVnao/view
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Huynh, C. M. (2021). Foreign direct investment and income inequality: Does institutional quality matter? The Journal of International Trade & Economic Development, 30(8), 1231–1243. https://doi.org/10.1080/09638199.2021.1942164
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Khan, I., & Nawaz, Z. (2019). Trade, FDI and income inequality: Empirical evidence from CIS. International Journal of Development Issues, 18(1), 88–108. https://doi.org/10.1108/IJDI-07-2018-0107
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Kuznets, S. (1955). Economic growth and economic inequality. American Economic Review, 45(1), 1-28. https://assets.aeaweb.org/asset-server/files/9438.pdf
Lall, S., & Narula, R. (2004). Foreign direct investment and its role in economic development: Do we need a new agenda?. The european journal of development research, 16, 447-464. https://doi.org/10.1080/0957881042000266589
Le, Q. H., Do, Q. A., Pham, H. C., & Nguyen, T. D. (2021). The impact of foreign direct investment on income inequality in Vietnam. Economies, 9(1). https://doi.org/10.3390/economies9010027
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Mihalache-O'Keef, A., & Li, Q. (2011). Modernization vs. dependency revisited: Effects of foreign direct investment on food security in less developed countries. International Studies Quarterly, 55(1), 71-93. https://doi.org/10.1111/j.1468-2478.2010.00636.x
Neagu, O., Dumiter, F., & Braica, A. (2016). Inequality, economic growth and trade openness: A case study for Central and Eastern European countries (ECE). Amfiteatru Economic Journal, 18(43), 557–574. https://hdl.handle.net/10419/169021
Nguyen Thi Thai Hung (2020). Tác động của đầu tư trực tiếp nước ngoài đến bất bình đẳng thu nhập ở Việt Nam: Thực trạng và khuyến nghị [The impact of foreign direct investment on incom inequality in Vietnam: Current situation and policy recommendation]. Tạp chí Công Thương. https://tapchicongthuong.vn/tac-dong-cua-dau-tu-truc-tiep-nuoc-ngoai-den-bat-binh-dang-thu-nhap-o-viet-nam--thuc-trang-va-khuyen-nghi-67703.htm
Nguyen Thi Thai Hung, Nguyen Quynh Tho (2019). Đánh giá tác động của đầu tư trực tiếp nước ngoài đến bất bình đẳng thu nhập ở Việt Nam [Assessing the impact of foreign direct investment on income inequality in Vietnam]. Tạp chí Thị trường Tài chính Tiền tệ. https://thitruongtaichinhtiente.vn/danh-gia-tac-dong-cua-dau-tu-truc-tiep-nuoc-ngoai-den-bat-binh-dang-thu-nhap-o-viet-nam-23266.html
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Nguyen, V. B. (2023). The role of digitalization in the FDI – Income inequality relationship in developed and developing countries. Journal of Economics, Finance and Administrative Science, 28(55), 6–26. https://doi.org/10.1108/JEFAS-09-2021-0189
Ngwakwe, C. C., & Dzomonda, O. (2018). Foreign direct investment inflow and inequality in an emerging economy–South Africa. Acta Universitatis Danubius. Œconomica, 14(2), 462-473. https://www.ceeol.com/search/article-detail?id=731578
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How to Cite
Ho, T. T., & Trinh, T. L. (2025). The impact of foreign direct investment on income inequality in Vietnam: A spatial regression approach. Journal of Finance - Marketing Research, 3(5ene). https://doi.org/10.52932/jfm.v3i5ene.1057