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Turning Vietnam’s COVID-19 Success into Economic Recovery: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy

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  • Dang, Hai-Anh H.
  • Giang, Long T.

Abstract

The COVID-19 pandemic has resulted in income and employment loss in many countries around the world. Yet, hardly any formal study exists on household finance and future economic expectations in poorer countries. To fill in this gap, we implemented and analyzed a web-based rapid assessment survey immediately after the removal of lockdown measures in Vietnam, a lower-middle-income country that has received widespread recognition for its successful fight against the pandemic. We find that having a job is strongly and positively associated with better finance and more income and savings, as well as more optimism about the resilience of the economy. Further disaggregating employment into different types of jobs such as self-employment and jobs with permanent and short-term contracts, we find those with permanent job contracts to be more strongly associated with better assessments and fewer job worries. Individuals with good health and higher educational levels also have more positive evaluations for their current and future finance. These findings are relevant for post-outbreak economic policies, especially regarding the labor market in a developing country context.

Suggested Citation

  • Dang, Hai-Anh H. & Giang, Long T., 2020. "Turning Vietnam’s COVID-19 Success into Economic Recovery: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy," GLO Discussion Paper Series 566, Global Labor Organization (GLO).
  • Handle: RePEc:zbw:glodps:566
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    Cited by:

    1. Bui, Dzung & Dräger, Lena & Hayo, Bernd & Nghiem, Giang, 2020. "Consumer Sentiment During the COVID-19 Pandemic: The Role of Others‘ Beliefs," Hannover Economic Papers (HEP) dp-680, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät, revised Apr 2021.
    2. Dang, Hai-Anh & Trinh, Trong-Anh, 2020. "The Beneficial Impacts of COVID-19 Lockdowns on Air Pollution: Evidence from Vietnam," IZA Discussion Papers 13651, Institute of Labor Economics (IZA).
    3. Vu, Khoa & Vuong, Nguyen Dinh Tuan & Vu-Thanh, Tu-Anh & Nguyen, Anh Ngoc, 2022. "Income shock and food insecurity prediction Vietnam under the pandemic," World Development, Elsevier, vol. 153(C).
    4. Giang, Long Thanh & Kikkawa, Aiko & Nguyen, Cuong Viet, 2021. "An Ex-Ante Assessment on Poverty and Cash Transfer Benefits in Viet Nam under the Covid-19 Pandemic," GLO Discussion Paper Series 864, Global Labor Organization (GLO).

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    More about this item

    Keywords

    COVID-19; recession; labor market; wage work; household finance; Vietnam;
    All these keywords.

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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