Impacts of Economic Integration on Vietnam’s Trade Flows
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All economies interested in economic integration, such as ASEAN, EU,NAFTA, etc. Economy may better off or worse off due to economic integration. For understanding whole picture of Vietnam economic integration, the paper evaluates aggregate impacts of regional and global integrations (WTO, APEC, ASEAN+3, BTAs) on Vietnamese bilateral trade flows by quantitative analysis using Fixed and Random Effect Estimation with sample data from 53 countries within 15 years (1997-2011) following the gravity model (exports and imports are analyzed separately). As a result, economic integration is a major positive factor in Vietnamese economic growth in recent years. Bases on these analyses, this paper suggests some useful solutions to Vietnam’s government. Vietnam can and needs to follow the highly successful economic example of South Korea.
Abstract
All economies interested in economic integration, such as ASEAN, EU,NAFTA, etc. Economy may better off or worse off due to economic integration. For understanding whole picture of Vietnam economic integration, the paper evaluates aggregate impacts of regional and global integrations (WTO, APEC, ASEAN+3, BTAs) on Vietnamese bilateral trade flows by quantitative analysis using Fixed and Random Effect Estimation with sample data from 53 countries within 15 years (1997-2011) following the gravity model (exports and imports are analyzed separately). As a result, economic integration is a major positive factor in Vietnamese economic growth in recent years. Bases on these analyses, this paper suggests some useful solutions to Vietnam’s government. Vietnam can and needs to follow the highly successful economic example of South Korea.
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