Phân Tích Các Yếu Tố Ảnh Hưởng Đến FDI Tỉnh Tại Việt Nam: Nghiên Cứu Dữ Liệu Chéo

Nghiên cứu các yếu tố quyết định FDI tỉnh tại Việt Nam qua phân tích dữ liệu cắt ngang, cung cấp cái nhìn sâu sắc về đầu tư nước ngoài.

• Tác giả: Nguyen Dai Hiep
• Người hướng dẫn: Dr. Nguyen Van Phuc
• Trường học: University Of Economics Ho Chi Minh City
• Chuyên ngành: Development Economics
• Đề tài: Determinants Of Provincial FDI In Vietnam: A Cross Section Data Analysis
• Loại tài liệu: thesis
• Năm xuất bản: 2011
• Địa điểm: Ho Chi Minh City

Mục lục chi tiết

• DECLARATION
• ACKNOWLEDGMENTS
• 1. Chapter 2: Theoretical Consideration and Literature Review
• 2.1. The regional development and competitive regionalism theory
• 2.2. FDI theories and its applicability
• 2.2.1. Differential Rate of Return Theory
• 2.2.2. Portfolio Theory
• 2.2.3. Risk Diversification Theory
• 2.3. The International Trade Arguments
• 2.3.1. Mundell and the Heckscher-Ohlin Model
• 2.3.2. Kojima's "Macroeconomic Approach"
• 2.3.3. The Product Cycle Model
• 2.4. Market Failures and Industrial Organization
• 2.4.1. The Hymer-Kindleberger hypothesis
• 2.4.2. The Internalization Approach
• 2.5. The Eclectic Paradigm and International Investment Path
• 2.6. Agglomeration Effect
• 2.7. Theory summary
• 2.8. Empirical studies on the determinants of FDI
• 3. Chapter 3: Research Model, Data Collection and Variable Description
• 4. Chapter 4: Empirical Estimation and Result
• 4.1. Correlation among explanatory variables
• 4.2. Empirical estimation and result
• 5. Chapter 5: Conclusion and Recommendation
• 5.1. Conclusion and recommendation
• TABLE LIST
• ABSTRACT

Tóm tắt

I. Tổng Quan Về Các Yếu Tố Ảnh Hưởng Đến FDI Tỉnh Tại Việt Nam

Đầu tư trực tiếp nước ngoài (FDI) đóng vai trò quan trọng trong sự phát triển kinh tế của Việt Nam. Nghiên cứu này sẽ phân tích các yếu tố ảnh hưởng đến FDI tại các tỉnh, từ đó giúp các nhà hoạch định chính sách cải thiện môi trường đầu tư. Các yếu tố này bao gồm chính sách thu hút FDI, môi trường kinh doanh, và cơ sở hạ tầng.

1.1. Đầu Tư Trực Tiếp Nước Ngoài FDI Là Gì

FDI là hình thức đầu tư mà các công ty nước ngoài đầu tư vào các doanh nghiệp trong nước. Điều này không chỉ mang lại vốn mà còn cả công nghệ và kinh nghiệm quản lý.

1.2. Tầm Quan Trọng Của FDI Đối Với Kinh Tế Việt Nam

FDI góp phần tạo ra việc làm, tăng trưởng kinh tế và cải thiện cơ sở hạ tầng. Các tỉnh có FDI cao thường có tốc độ phát triển kinh tế nhanh hơn.

II. Các Vấn Đề Và Thách Thức Trong Việc Thu Hút FDI Tại Việt Nam

Mặc dù Việt Nam đã có nhiều chính sách thu hút FDI, nhưng vẫn tồn tại nhiều thách thức. Các vấn đề như tham nhũng, thiếu minh bạch trong chính sách và cơ sở hạ tầng yếu kém vẫn là rào cản lớn.

2.1. Tham Nhũng Và Thiếu Minh Bạch

Tham nhũng là một trong những yếu tố chính cản trở FDI. Các nhà đầu tư thường lo ngại về sự minh bạch trong các quy trình hành chính.

2.2. Cơ Sở Hạ Tầng Yếu Kém

Cơ sở hạ tầng không phát triển đồng bộ làm giảm sức hấp dẫn của các tỉnh đối với nhà đầu tư nước ngoài. Đầu tư vào hạ tầng là cần thiết để cải thiện môi trường đầu tư.

III. Phương Pháp Nâng Cao Hiệu Quả Thu Hút FDI Tại Các Tỉnh

Để nâng cao hiệu quả thu hút FDI, các tỉnh cần cải thiện môi trường đầu tư thông qua việc cải cách chính sách và nâng cao chất lượng dịch vụ công.

3.1. Cải Cách Chính Sách Thu Hút FDI

Cần có các chính sách rõ ràng và minh bạch để thu hút FDI. Các tỉnh nên xây dựng các chương trình hỗ trợ doanh nghiệp và giảm thiểu thủ tục hành chính.

3.2. Nâng Cao Chất Lượng Dịch Vụ Công

Cải thiện chất lượng dịch vụ công sẽ tạo điều kiện thuận lợi cho các nhà đầu tư. Đào tạo nguồn nhân lực và nâng cao kỹ năng cho lao động là rất quan trọng.

IV. Ứng Dụng Thực Tiễn Và Kết Quả Nghiên Cứu Về FDI Tại Việt Nam

Nghiên cứu cho thấy rằng các yếu tố như cơ sở hạ tầng, chính sách thu hút FDI và chất lượng dịch vụ công có ảnh hưởng lớn đến quyết định đầu tư của các doanh nghiệp nước ngoài.

4.1. Kết Quả Nghiên Cứu Về FDI Tại Các Tỉnh

Các tỉnh như Bình Dương và Đồng Nai đã thu hút được lượng FDI lớn nhờ vào chính sách hỗ trợ doanh nghiệp và cơ sở hạ tầng phát triển.

4.2. Ứng Dụng Các Kết Quả Nghiên Cứu

Các kết quả nghiên cứu có thể được áp dụng để cải thiện chính sách thu hút FDI tại các tỉnh khác, từ đó thúc đẩy phát triển kinh tế địa phương.

V. Kết Luận Và Tương Lai Của FDI Tại Việt Nam

FDI sẽ tiếp tục đóng vai trò quan trọng trong sự phát triển kinh tế của Việt Nam. Tuy nhiên, cần có những cải cách mạnh mẽ để nâng cao sức hấp dẫn của môi trường đầu tư.

5.1. Tương Lai Của FDI Tại Việt Nam

Với những cải cách đúng đắn, Việt Nam có thể trở thành điểm đến hấp dẫn cho các nhà đầu tư nước ngoài trong tương lai.

5.2. Đề Xuất Chính Sách Để Tăng Cường FDI

Cần có các chính sách đồng bộ và hiệu quả để thu hút FDI, bao gồm cải cách hành chính, nâng cao chất lượng dịch vụ công và phát triển cơ sở hạ tầng.

Trích đoạn nội dung tài liệu

UNIVERSITY OF ECONOMICS INSTITUTE OF SOIAL STUDIES HO CHI MINH CITY THE HAGUE VIETNAM THE NETHERLANDS VIETNAM-NETHERLANDS PROGRAMME FOR M.AIN DEVELOPMENT ECONOMICS DETERMINANTS OF PROVINCIAL FDI IN VIETNAM: A CROSS SECTION DATA ANALYSIS A thesis submitted in partial fulfilment of the requirements for the degree of MASTER OF ARTS IN DEVELOPMENT ECONOMICS _ . By NGUYEN DAI HIEP ,_, 1•-. Academic Supervisor: Dr. NGUYEN VAN PHUC HO CHI MINH CITY, JANUARY 2011 . ' UAN VAN CHAT LUONG download : add [e-mail] DECLARATION I declare that 'Determinants of provincial FDI in Vietnam: A cross section data analysis' is my own work, that it has not been submitted for any degree or examination at any other University, and that all sources used or quoted are indicated and knowledge by complete references. January 3, 2011 NGUYEN DAI HIEP 2 UAN VAN CHAT LUONG download : add [e-mail] ACKNOWLEDGMENTS This thesis would never have been written if had not for the encouragement, support, and assistance which I received from large number of people. Specially, I would like to thank my supervisor, Dr. Nguyen Van Phuc, for his encouragement, kindness, patience and valuable advices, which helped shape and improve this thesis. I would also like to thank a few anonymous referees and added explanatory variables who helped me finalize this work. I would also like to sincerely thank Prof. Peter Calkins for his honest and valuable advices from I begin to choose the topic and TRD completion. He is truly a noble teacher, who soonest feedback and detail instruction during TRD establishing. I would also like to thank science committee; all the members of the Vietnamese- Dutch Project for MA programme in Development Economics, University of Economics-HCMC, VietNam for their support and goodwill, and to all the lecturers, and also to my friends in the class 15.Thank you a great time! Last, I want to thank my family members, friends. Any errors and omissions in this thesis are my sole responsibility. 3 UAN VAN CHAT LUONG download : add [e-mail] --- --------- TABLE OF CONTENTS Declaration . 3 Table of contents .4 Organization of the study . 9 Chapter 2: Theoretical Consideration and Literature Review . The regional development and competitive regionalism theory .2 FDI theories and its applicability .2 The International Trade Arguments .3 Market Failures and Industrial Organization .4 The Eclectic Paradigm and International Investment Path . Empirical studies on the determinants ofFDI. Geographical literature on Vietnam, China and ASEAN countries . l9 Chapter 3: Research Model, Data Collection and Variable Description . 26 Chapter 4: Empirical Estimation and Result . 34 4 UAN VAN CHAT LUONG download : add luanvanchat@agmail.1 Correlation among explanatory variables .2 Empirical estimation and result.35 Chapter 5: Conclusion and Recommendation .1 Conclusion and recommendation . 49 5 UAN VAN CHAT LUONG download : add [e-mail] • TABLE LIST Table 2.2: Empirical Study Reading .1: The implementation value of provincial FDI .2: FDI capital of top ten provinces .3: PCI result in 2009 .1: Matrix of Correlation among explanatory variables .3: Top five rank of attracting FDI in Viet Nam .4: The rank of infrastructure in 2009 . 39 6 UAN VAN CHAT LUONG download : add [e-mail] ABSTRACT FDI is of essential importance for achieving economic growth for developing countries, especially for Vietnam, a country which has just opened more than twenty years. There were too many researches about attracting FDI for developing countries. However, there are still less researches related to regional competition of FDI. Therefore, this paper examines the relationship between provincial FDI in VietNam and explanatory variables base on variable set of PCI project in VietNam and other traditional variables. The purpose of thesis is finding why some provinces and cities such as Binh Duong, Dong Nai, Ba Ria Vung Tau, HCMC . have had good FDI capital and others have not so. From that the thesis suggests policy recommendation for provinces and cities enhancing regional system for developing economics. I had a literature review on regional development, attracting regional FDI and across country, the estimated model was built with collected data and econometric analysis result, I had demonstrated that our hypotheses are right or wrong. And then we answered the research questions and objectives of this study. Using data collected by the General Statistical Office of VietNam (GSO) and Provincial Competition Index (PCI) project, estimation result shows that gross industrial output, legal institution and infrastructures statistically significant to provincial FDI at the level 1% and 5%; business support service had significance to provincial FDI at the level nearly 10%. Key words: PCI, FDI impact, Provinces in VietNam, cross section data analysis. 7 UAN VAN CHAT LUONG download : add luanvanchat@agmail.1 Problem Statement The Provincial Competitiveness Index (PCI) is an effort to explain why some parts of the country perform better than others in terms of private sector dynamism, job creation and economic growth and attracting investment (FDI and local). Using new survey data from businesses that describe their perceptions of their local business environments as well as credible and comparable data from official and other sources regarding local conditions, the PCI rates provinces on a 100-point scale. In 2005, the overall index is comprised of nine sub-indices that explain much of the variation in performance across provinces in Vietnam. In 2006, new sub-indices were developed to capture other aspects of Provincial Government efforts to enhance the business environment. However, we have not found any empirical studies to show that which are independent variables of PCI and other traditional variables effect to provincial FDI and how to impact to provincial FDI in VietNam. I also did not find any analysis related to the independent variables of PCI whether they have internal relation.2 Research Objectives The overall goal of this research is to investigate significant impacts of some independent variables of PCI and other traditional variables which affect provincial FDI inflows (Regional FDI) to help policy makers to focus on key points and the good points to improve their investment environment (by Provinces) and with higher level (by Government). 8 UAN VAN CHAT LUONG download : add [e-mail] There exist some previous studies related to attracting FDI to developing countries; most of these have found what factors ofthe country attracting FDI (across countries). However, the objectives of the thesis are to identify: (i) Independent variables of PCI and other traditional variables are significant impacts to FDI of Provinces in Vietnam; and (ii) Factors of PCI are highly correlated and we should revise PCI set. (iii) PCI determinants out of the ten original factors should be included in a new, more significant subset base of PCI determinants. (iv) Interaction effects between PCI improvement and FDI growth.3 Research questions The thesis focus on studying the determinants of provincial FDI in Viet Nam base on the independence variable set of the Provincial Competitiveness Index (PCI) and other some traditional variables could be attracting FDI of provinces in VietNam. We found economic theory, and empirical studies related to FDI (chapter 2), the description of each independence variable which PCI project in Viet Nam use to survey (chapter 3). We build research model (specification) and collect the data from PCI project (www.org) and statistical yearbook of Vietnam from General Statistics Office (www.vn) to answer some research questions as following: (l)Which independent variables of PCI and other traditional variables are significant impacts to FDI of Provinces in Vietnam? (2)Factors ofPCI are highly correlated and we should revise PCI set? (3)Which PCI determinant out of the ten original factors should be included in a new, more significant subset base of PCI determinants? (4)Are interaction effects between PCI improvement and FDI growth? 1.4 Organization of the study This thesis has five chapters, while the chapter one has presented as above explain the purpose chose the theme. The rest of this thesis is organized as follows: 9 UAN VAN CHAT LUONG download : add [e-mail] Chapter two briefly provides the regional development and FDI theory, and then we also have summarized the empirical researches related to attracting FDI, specially related to attracting FDI across to provinces of the country. Chapter three is presented how to build the research model base on chapter two, the way to choose the data. It is important to explain dependent and independent variables which PCI project have used to survey yearly, also including some traditional variables. Chapter four is the econometric analysis and finding. The last chapter will be conclusion and recommendation of the research. 10 UAN VAN CHAT LUONG download : add luanvanchat@agmail.1 The regional development and competitive regionalism theory According to Balisacan and Hill (2007), detenninants of regional economic growth in developing countries are geography and infrastructure, the capacity to connect to global economy, the quality of local governance and institutions, and the quality of human capital. Competition regionalism are low corruption, predictable and transparent businesses environment, secure property rights flexible labor markets, a competitive tax regime and efficiently supplied public goods. To Porter (1990), the determinant of national competitive advantage, the nation's in factors of production are skilled labor, infrastructure, the nature of home demand and supporting industries. These are potential variables which they could affect to attract FDI of countries as well of provinces.2 FDI theories and its applicability There are many reasons for FDI to occur. This, therefore, results in the wide range of approaches on determinants of FDI. The capital theory takes into account the consideration of profit rate and risk of firms. In contrast, international trade arguments focus on substitute or complementary effects between FDI and export. Theories on industrial organization see FDI as a tool to materialize firm's specific advantages. OLI paradigm provides dynamic approaches to the determinants of FDI. Finally, agglomeration economies try to investigate the spatial distribution ofFDI.1 Differential Rate of Return Theory Until the 1950s, international direct investment was entirely explained within the traditional theory of international capital movements. Like other forms of international II UAN VAN CHAT LUONG download : add [e-mail] investment, FDI was seen as a response to differences in the rates of return on capital between countries.2 Portfolio Theory The investors want to build an efficient portfolio of investment to avoid risk. The rates of return of the different alternative investments are matched with an element of risk in the choice between substitutable assets to build an efficient portfolio. According to Dunning (1973), the reason why portfolio theory can only partially explain direct foreign investment is that it ignores that "direct investment does not involve changes in ownership. It does, however, involve the transmission of factor inputs other than money capital, viz. entrepreneurship, technology, and management . expertise, and is likely to be affected by the relative profitability of the use of these resources in different countries as that of money capital".3 Risk Diversification Theory The theory argued that the international diversification of portfolios 1s a way of reducing the firm's risk and hedging the risks. Capital theory shows that some determinants related cost factors in PCI set have potential effects to attracting FDI of provinces.2 The International Trade Arguments 2.1 Mundell and the Heckscher-Ohlin Model Mundell (1975) extended the basic model to show that trade and capital movements can be substitute. He argued that the introduction of trade tariffs would induce a flow of FDI towards the protected countries. This argument was the same with original Heckscher-Ohlin model that restrictions on trade can be modified by international movements of factors, namely capital, given the immobility of labor.2 Kojima's "Macroeconomic Approach" Kojima (1973) groups motives ofFDI into four categories (i) to seek natural resources (ii) to take advantage of cheap labor cost in the host country (iii) to avoid tariff and 12 UAN VAN CHAT LUONG download : add [e-mail] non-tariff barriers, and (iv) to take advantage of oligopolistic power owmg to technology and knowledge advantage.3 The Product Cycle Model The product cycle model, developed by Vernon (1966), was a response to the stylized fact that US firms invested abroad at a rapid rate.