文章基本信息

标题：Long-run Relationship of Economic Growth with Consumption, Unemployment Rates and Saving Rates in Developing Countries: A Case Study of Vietnam
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作者：Nguyen Thanh Giang
期刊名称：Journal of Business and Management Sciences
印刷版ISSN：2333-4495
电子版ISSN：2333-4533
出版年度：2020
卷号：8
期号：2
页码：61-66
DOI：10.12691/jbms-8-2-4
出版社：Science and Education Publishing
摘要：The Keynesian macroeconomic model implies that household expenditures and savings have significant long-run impacts on economic growth by affecting total expenditures. Therefore, policymakers should determine and apply appropriate policies to maintain these variables. For this purpose, the long-run relationship of economic growth with consumption, unemployment and saving rates in Vietnam is analyzed with the time data method using annual data for the period 1996-2017. Consumption appears to have the most impact on economic growth in accordance with the estimation results of a co-integration test from an autoregressive distributed lag model (ARDL model). In long run, an increase of 1% in consumption expenditures decreases economic growth by 0.41%. A 1% increase in saving rates increases economic growth by 0.0009%. While an increase of 1% in unemployment rates decreases economic growth by 0.043%. Our results demonstrate that there exists only long run relationship among economic growth, consumption, saving and unemployment rates for Vietnam, but not in short run.
关键词：economic growth; consumption; saving; unemployment rates; long-run