IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-981-99-0490-7_27.html
   My bibliography  Save this book chapter

Determinants of the Success Level of Economic Growth

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2

Author

Listed:
  • Nguyen Chi Hai

    (University of Economics and Law)

  • Huynh Ngoc Chuong

    (University of Economics and Law)

  • Pham My Duyen

    (University of Economics and Law)

  • Tra Trung

    (University of Economics and Law)

Abstract

This study analyzes the success level of countries in the period 1987–2018 as well as measure the factors affecting their success in economic growth. The dynamic panel Generalized Method of Moments (GMM) model is applied to analyze the data obtained from the World Bank database. Research results show that (i) there are differences in growth across economies; (ii) factors of foreign direct investment (FDI), international integration, and positive changes in institutional reform play a positive role in economic growth, while the level of macroeconomic instability has a negative impact on the growth in successful economies; and (iii) the attraction of external resources is very essential, especially in the early stages to transform the economy from a low-income level, or a lower middle-income level to a middle-income level or an upper middle-income level. However, in the long term, attracting external resources will be a “double-edged sword” if there is no measure to improve internal resources. Finally, we give some recommendations for countries to maintain high and sustainable growth.

Suggested Citation

  • Nguyen Chi Hai & Huynh Ngoc Chuong & Pham My Duyen & Tra Trung, 2023. "Determinants of the Success Level of Economic Growth," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, pages 467-487, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0490-7_27
    DOI: 10.1007/978-981-99-0490-7_27
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:sprchp:978-981-99-0490-7_27. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.