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VGU RESEARCH REPOSITORY


Please use this identifier to cite or link to this item: https://epub.vgu.edu.vn/handle/dlibvgu/683
Title: Interrelationship of Vietnam stock market and foreign direct investment
Authors: Nguyen Nhat Mai 
Keywords: Stock market;Foreign direct investment;FDI
Issue Date: 2017
Publisher: Vietnamese-German University
Abstract: 
In the context where foreign direct investment (FDI) and stock market are the center of Vietnam (VN) economic policies, the demand for better and better estimation of the efficiency of policies involved in FDI and stock market arises. Though the estimation can be significantly affected by the relationship between stock market and FDI, no research on this issue has been conducted. Hence, this paper aims at seeking the interrelationship between FDI and stock market through Granger causality test on bivariate vector autoregression model. Quarterly VNIndex difference and quarterly FDI in period 2001 – 2016 are variables. The result reveals that (1) stock market performance positively affect the level of FDI inward in VN when the contrary direction does not exist and (2) if VNIndex rises by 10 points, FDI inflow 3 quarters later increases by 228.1 mil USD and 5 quarters later rises by 338.5 mil USD. This result implies VN currently incorrectly estimates the effects of FDI and stock market policies. Consequently, possible suggestions for VN are (1) enhancing close interaction between FDI policymakers and stock market policymakers to better capture unobserved effects and (2) concentrating more on stock market development since an act that supposed to proceed stock market development to enhance economic growth can now boost FDI inflow and then advance the economy as well.
URI(1): http://epub.vgu.edu.vn/handle/dlibvgu/683
Rights: Attribution-NonCommercial 4.0 International
Appears in Collections:Finance & Accounting (FA)

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