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Capital diversion in Vietnamese state-owned enterprises

Author

Listed:
  • Cuong Le Van
  • Ngoc Minh Nguyen
  • Ngoc Anh Nguyen
  • Phu Nguyen-Van

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

We consider the capital productivity of a panel data set of 10,200 Vietnam state-owned enterprises over the period 2010-2018, using a stochastic frontier production modelling. We discover there exists an overutilization of the physical capital and more importantly, diversion of the capital stock. This diversion may be due to a waste of capital stocks or to a special form of bribery we call "hidden overhead". The very high diversion rate, 69% on average, calls for a profound reform of the sector.

Suggested Citation

  • Cuong Le Van & Ngoc Minh Nguyen & Ngoc Anh Nguyen & Phu Nguyen-Van, 2023. "Capital diversion in Vietnamese state-owned enterprises," Working Papers hal-04228589, HAL.
    • Handle: RePEc:hal:wpaper:hal-04228589
    Note: View the original document on HAL open archive server: https://hal.science/hal-04228589
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