IDEAS home Printed from https://ideas.repec.org/a/wsi/afexxx/v15y2020i03ns2010495220500104.html
   My bibliography  Save this article

Financial Integration, Energy Consumption And Economic Growth In Vietnam

Author

Listed:
  • NGUYEN MINH HA

    (Ho Chi Minh City Open University, Vietnam)

  • BUI HOANG NGOC

    (Finance, Economics and Management Research Group, Ho Chi Minh City Open University, Vietnam)

  • MICHAEL MCALEER

    (Department of Finance, Asia University, Taiwan4Discipline of Business Analytics University of Sydney Business School, Australia5Econometric Institute, Erasmus School of Economics Erasmus University Rotterdam, The Netherlands6Department of Economic Analysis and ICAE, Complutense University of Madrid, Spain7Institute of Advanced Sciences, Yokohama National University, Japan)

Abstract

The paper investigates the impact of financial integration and energy consumption on economic growth in Vietnam during the period 1986–2017. By applying the Autoregressive Distributed Lag ARDL) approach proposed by Pesaran et al. [Pesaran, MH, Y Shin and RJ Smith (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326.] and the bounds cointegration test, the empirical results show the existence of long-term cointegration among all the variables, and that an increase in financial integration leads to an increase in economic growth in the long run. There is a positive impact of energy consumption on growth in both the short run and long run. The causality test of Toda and Yamamoto [Toda, HY and T Yamamoto (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1–2), 225–250.] confirm that there is bi-directional causality between the pairs, financial integration and economic growth, and energy consumption and growth, which support the feedback hypothesis. However, there is only uni-directional causality from energy consumption to financial integration. The empirical results should be of major empirical importance for public policy decision-makers to plan sustainable development goals for Vietnam.

Suggested Citation

  • Nguyen Minh Ha & Bui Hoang Ngoc & Michael Mcaleer, 2020. "Financial Integration, Energy Consumption And Economic Growth In Vietnam," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 1-19, September.
    • Handle: RePEc:wsi:afexxx:v:15:y:2020:i:03:n:s2010495220500104
    DOI: 10.1142/S2010495220500104
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S2010495220500104
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S2010495220500104?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cordelia Onyinyechi Omodero & Uwuigbe Uwalomwa, 2021. "Energy Absorption, CO2 Emissions and Economic Growth Sustainability in Nigeria," International Journal of Energy Economics and Policy, Econjournals, vol. 11(4), pages 69-74.
    2. Shu-kam LEE & Paul Kwok-ching SHUM & Hugo Hin-to LEE & Kai-yin WOO, 2023. "Purchasing Power Parity Between China and Selected BRI Countries in Asia," Advances in Decision Sciences, Asia University, Taiwan, vol. 27(3), pages 86-108, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:afexxx:v:15:y:2020:i:03:n:s2010495220500104. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/afe/afe.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.