Phân tích mối quan hệ giữa xuất khẩu thủy sản và tăng trưởng kinh tế Việt Nam (1997-2008) - Luận ...

Luận văn thạc sĩ phân tích relationship between sectoral exports and economic growth a time series analysis for vietnamese, đánh giá thực trạng, chỉ ra hạn chế, đề xuất giải pháp

Trường đại học

University of Economics

Người đăng

Ẩn danh

Thể loại

Thesis

2009

62
2
0

Phí lưu trữ

30 Point

Mục lục chi tiết

CERTIFICATION

ACKNOWLEDGMENTS

ABSTRACT

ACRONYMS AND INITIALS

TABLE OF CONTENTS

1.1. LIST OF TABLES

1.2. LIST OF FIGURES

1.3. SCOPE OF THE STUDY

1.4. METHODOLOGY AND DATA COLLECTION

1.5. THE STRUCTURE OF THE THESIS

1.6. THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND TRADE

1.7. THEORETICAL AND EMPIRICAL BACKGROUNDS OF SECTORAL EXPORTS

1.8. WHY FISHERY SECTOR WAS CHOSEN FOR THIS STUDY?

1.9. AN OVERVIEW OF VIETNAM FISHERY SECTOR

1.10. BILATERAL TRADE AGREEMENT, THE UNITED STATES ANTI-DUMPING MEASURES AND VIETNAM FISHERY EXPORTS IN THE PERIOD 1997-2008

1.11. THE EXCHANGE RATE REGIME AND VIETNAM FISHERY EXPORTS 1997-2008

1.12. CPI (CONSUMER PRICE INDEX) AND VIETNAM FISHERY EXPORTS 1997-2008

1.12.1. Consumer Price Index- CPI

1.12.2. Bilateral Trade Agreement (BTA)

1.13. EMPIRICAL ESTIMATION RELATED TO EFFECTS OF FISHERY EXPORTS ON ECONOMIC GROWTH

1.13.1. Consumer Price Index

1.14. DATA FOR VARIABLES

1.15. RESULTS AND DISCUSSION

1.15.1. Stationary testing of real variables

1.15.2. Unit root tests for log(YGNP)

1.15.3. Unit root tests for log(REXR)

1.15.4. Unit root test for log(XGNP)

1.15.5. Two stage least square regression

1.16. CONCLUSIONS AND SUGGESTIONS

Trích đoạn nội dung tài liệu

UNIVERSITY OF ECONOMICS INSTITUTE OF SOCIAL STUDIES HO CHI MINH CITY THE HAGUE VIETNAM THE NETHERLANDS VIETNAM- THE NETHERLANDS PROJECT FOR M. ON DEVELOPMENT ECONOMICS RELATIONSHIP BETWEEN SECTORAL EXPORTS AND ECONOMIC GROWTH- A TIME SERIES ANALYSIS FOR .VIETNAMESE FISHERY SECTOR 1997 - 2008 . BQ GIAO DVC £JAO TAO TRlJONG D~l HQC KINH r{rP.HCM 9 THU VIEN . l13 By NGUYEN ANH TRAM SUPERVISOR: DR. NGUYEN MINH DUC MASTER OF ARTS IN ECONOMICS OF DEVELOPMENT HO CHI MINH CITY, DECEMBER 2009 TIEU LUAN MOI download : skknchat@gmail.com CERTIFICATION "I certify that the substance of this thesis has not already been submitted for any degree and has not been currently submitted for any other degree. I certify that the best of my knowledge and help received in preparing this thesis and all sources used have been acknowledged in this thesis." NGUYEN ANH TRAM Date: 16/12/2009 TIEU LUAN MOI download ii : skknchat@gmail.com ACKNOWLEDGMENTS No man is an island, entire of itself- John Donne The work of this thesis represents the concerted efforts of many individuals. One of the features is collaboration and certainly it required many acts of collaboration by quite a few people in order to come to fruition. Firstly, I am heartily thankful to my supervisor, Dr. Nguyen Minh Due, whose encouragement, supervision, and support from the preliminary to the concluding level enabled me to develop an understanding ofthe subject. Secondly, I would like to thank Prof. Karen Jansen, Dr. Nguyen Trong Hoai, and Dr. Tran Tien Khai for serving on my thesis committee, valuable suggestions, invaluable encouragement, insightful comments, and hard questions. I thank my friends, thirdly, for the stimulating discussions, and for all the help and fun we have had during the master course. Besides, I also give many thanks to all project teachers and staffs in Ho Chi Minh City. Further, I would like to express my sincere gratitude to my parents for patiently putting up with a daughter who could never get enough of school. Lastly, I offer my regards and blessings to all of those who supported me in any respect during the completion of the project. TIEU LUAN MOI download : skknchat@gmail.com 111 ABSTRACT Numerous studies in literature have tried to test the relationship between exports, especially sectoral exports, and economic growth. This paper examines the relationship with evidence from fisheries exports of Vietnam during 1997 to 2008. The contribution of fishery sector in Vietnamese Gross Domestic Products (GDP) may be mathematically calculated with statistical figures. However, the effects of fishery exports on the economic growth are yet to be thoroughly studied in an econometric approach. Descriptive and time series analyses in this thesis present positive effect of fishery exports on the Vietnamese economic growth in long run. The modern econometric approach with stationary and co-integration tests and vector error correction models used in this study also allows forecasting a persistence of the effects of fishery exports on Vietnamese GDP despite of different seasonal phase business. For the long run estimation, a double increase in its fishery exports value would raise the GDP by 7%; This has a great economic meaning in developing process of the economy. In reverse side, Vietnamese fishery exports would increase by 5.2% with 10% increase in its GDP. Confirming the· role of fishery exports in economic growth, it is necessary for the sector to improve its competitive capacity. Firstly, it should continue to obey international standards, keep negotiating to get benefits from existing regulations, improve domestic institutional management to attract more foreign investment. Particularly, the stakeholders of Vietnamese fishery exports should concern some main problems such as product's quality, marketing strategy, production cost, trade barrier and tariff as well. TIEU LUAN MOI download IV : skknchat@gmail.com ACRONYMS AND INITIALS ADF Augmented Dickey-Fuller APEC Asia-Pacific Economic Corporation APFIC Asia-Pacific Fishery Commission BTA Bilateral Trade Agreement CPI Consumer Price Index EU European Union FAO Food and Agriculture Organization FISTENET Fisheries Scientific Technological Economic Information GDP Gross Domestic Product GNP Gross National Product GSO General Statistical Office ICT Information & Communication Technology OLS Ordinary Least Squares SBV States Bank of Vietnam USD The United States Dollars VECM Vector Error Correction Modeling WTO World Trade Organization TIEU LUAN MOI download v : skknchat@gmail.com TABLE OF CONTENTS LIST OF TABLES . vii LIST OF FIGURES . SCOPE OF THE STUDY . METHODOLOGY AND DATA COLLECTION . THE STRUCTURE OF THE THESIS . THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND TRADE . THEORETICAL AND EMPIRICAL BACKGROUNDS OF SECTORAL EXPORTS . WHY FISHERY SECTOR WAS CHOSEN FOR THIS STUDY? . AN OVERVIEW OF VIETNAM FISHERY SECTOR . BILATERAL TRADE AGREEMENT, THE UNITED STATES ANTI-DUMPING MEASURES AND VIETNAM FISHERY EXPORTS IN THE PERIOD 1997- 2008 . THE EXCHANGE RATE REGIME AND VIETNAM FISHERY EXPORTS 1997-2008 . CPI (CONSUMER PRICE INDEX) AND VIETNAM FISHERY EXPORTS 1997- 2008 . Consumer Price Index- CPI . Bilateral Trade Agreement (BTA) . EMPIRICAL ESTIMATION RELATED TO EFFECTS OF FISHERY EXPORTS ON ECONOMIC GROWTH . Consumer Price Index . DATA FOR VARIABLES . RESULTS AND DISCUSSION . Stationary testing of real variables . Unit root tests for log(YGNP) . Unit root tests for log (REXR) . Unit root test for log (XGNP) . Two stage least square regression . CONCLUSIONS AND SUGGESTIONS . 49 TIEU LUAN MOI download Vl : skknchat@gmail.com LIST OF TABLES Table 1.1 Total Imports And Exports Of Vietnam In U.1 Estimate Of Overseas Filipino Workers (December 2004) ••••••••.2 Vietnam Exports Of Tra And Basa Fish (Tons) .1 Descriptive Statistical Spreadsheet Of All Variables .2 Covariance Matrix Spreadsheet Of All Variables .3 Correlation Matrix Spreadsheet Of All Variables .4A DF-GLS UNIT ROOT TEST FOR LOG (YGNP) .4B ADF UNIT ROOT TEST FOR LOG (YGNP) .5ADF-GLS UNITROOTTESTFORLOG(REXR) .5B ADF UNIT ROOT TEST ON LOG (REXR) .6A DF-GLS UNIT ROOT TEST FOR LOG (XGNP) .6B ADF UNIT ROOT TEST FOR LOG (XGNP) . 7 OLS of Log(YGNP) .8 The Regression Result For Equation 8 In The Second Stage ••••••••••••••• 41 Table 4.9 First Difference Regression For Log(YGNP) •••••••••••••••••••••••••••••••••••••••••• 42 Table 4.10 First Difference Regression For Log(XGNP) .11 Johansen Cointegration Test Summary .12 Vector Error Correction Estimates •••••••••••••••••••••••••••••••••••••••••••••••••••••• 44 TIEU LUAN MOI download Vll : skknchat@gmail.com LIST OF FIGURES Figure 2.1 Reported Aquaculture Production In China (From 1950) •••••••.2 Vietnam's Oil Production And Consumption, 1998- 2008* •.3 Top Asia - Pacific Oil Producers, 2006* .4 Vietnam's Primary Fishery Export Products In 2006 (Value Basis) .5 Vietnam's Fishery Products Export Market, 2006 (Value Basis) ••••••• 17 Figure 2.6 Time Line Of Standard US Antidumping Investigation ••••••••••••••••••••• 23 Figure 2. 7 Monthly Exports Of Frozen Fish Fillets To The US, •••.8 Values (US$ Millions), Rates Of Growth (Percentages), And Shares In Total Exports (Percentages) Of Vietnam's Exports To The U.1 GDP In Vietnam, 1997 - 2008 (Quarterly) .2 Fishery Exports In Vietnam, 1997 - 2008 (Quarterly) .3 Exchange Rate VND/USD, 1997 - 2008 (Quarterly) •••••••••••••••.4 Vietnam Consumer Price Index, 1997 - 2008 (Quarterly) •••••••••••••••••• 35 Figure 4.5 Us Consumer Price Index, 1997- 2008 (Quarterly) . 35 TIEU LUAN MOI download viii : skknchat@gmail. Problem statement World trade has been expanded more and more, with global exports growing from $84 billion USD in 1953 to $6,272 billion USD in 2002 (HM Treasury, 2004). The figures demonstrate an increasing economical interdependence in the world nowadays relative to fifty years ago. However, the most prominent role in the increase is of developing countries and emerging markets; exports from developing countries as a whole accounted for 29 percent of world trade in 2001. Economic theory and empirical evidence also showed that economies with trade more tend to grow faster. Therefore, the fact that international trade or exports are always promoted by the Vietnam government is not an exception. Prior to the collapse of the Soviet Union, most of Vietnam's trade was with the former Soviet Union and Eastern European countries. Since 1991, the country's trade has diversified significantly. It has also expanded dramatically, reflecting a globalization process of the Vietnamese economy. In 1999, its openness (exports plus imports divided by GDP) reached the level of 84.5 percent and now (2009) about 170 percent, a useful indicator for an increasing global integration of a country.1 Total imports and exports of Vietnam in U.S dollars Trade (expressed in millions of US$) : Vietnam Exports Imports 1994 4,054 5,825 1995 5,448 8,155 1996 7,255 11,144 1997 9,184 11,592 1998 9,360 11,494 Source: United Nations. Monthly Bulletin of Statistics (September, 2000) Although Vietnam has consistently had trade deficits, the amount has narrowed with the boom in Vietnamese exports. For example, in 1989 exports were only 73.7 percent of imports. In 1999, exports had risen to be 98.9 percent of imports. In the period from 1997 to 2007, Vietnamese economy is prosperous in the context of global integration; especially Vietnam joined APEC at the .end of 1998 and signed the bilateral trade agreement with the United States in 2001. Since the milestones, TIEU LUAN MOI download 1 : skknchat@gmail.com Vietnam's exports has continuously grown, leading to a remarkable increase in its international trade and openness. However, the global economy began to have the indicators of a crisis from the early months of 2008. It was caused by regression of the real estate market in America, and created a serious financial crisis in the United States. The crisis spread out over the world, from Europe, Latin America, Middle East, Russia, to Asia and Vietnam as well. Although Vietnam has been affected by the crisis later than the others, it stills has faced some problems because of its wide economic openness. An obvious effect of the global crisis is speedy decline of the world's import demand. That means Vietnam's exports in coming years will be suffer because Vietnam's economy is likely to follow an export-oriented growth. In Vietnam's export structure, although crude oil still stand on the first position in export revenues, labor intensive products such as agricultural and fishery products are very important exported products of the country. In these products, fisheries are prominent because fish resources represent natural capital and are a potential source of sustainable wealth for Vietnam. This wealth provides the opportunity for such resources to make an ongoing contribution to economic growth, poverty alleviation and people livelihoods as well (Due, 2008a, 2009a). Fishery exports also make significant contributions to the national economy through the generation of foreign exchange derived from international trade. Exports of fishery products have grown rapidly during last ten years. In fact, the aquatic products once contributed approximate 10% of whole national export revenues (Due, 2009a). Otherwise, income multiplier effects can potentially "trickle up" to the national economy ensuring that fisheries can support national economic growth through contributions to GDP. Although the Vietnamese fishery sector contributes to national GDP typically varied by 2.0 percent, it also generates a wide range of tax revenues, contributing to the national budget. Moreover, the major share of fishery exports have strong backward linkages with the other sectors both in terms of primary and value added commodities. Unfortunately, with high fluctuation of prices and the 2008 global crisis, global demand for fishery products may decline, and in its tum fishery exports may affect Vietnamese GDP growth rate because the country relies much upon exports for economic growth. TIEU LUAN MOI download 2 : skknchat@gmail.com Therefore, there exist some questions to study such as how fishery exports effect Vietnam's economic growth in recent yeats and whether the effect is positive. To get answers, the research will start by estimating an econometric model in which fishery exports revenue is the interested explanatory variable and real GDP is the dependent variable. Some other controlling variables are included, such as exchange rate, CPI, CPI of the US, labor force, and dummy variables representing for annual quarters, 2001 Bilateral Trade Agreement between the US and Vietnam, 2003 anti- dumping tariff levied on Vietnamese catfish exported to the US. Furthermore, this study will employ the econometric results to figure out some suggesting for national economic development policies.

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