Title: Is the export-led growth model good for an emerging economy? Evidence from Vietnam

Authors: Le Thanh Tung

Addresses: Faculty of Economics and Public Management, Ho Chi Minh City Open University, 35-37 Ho Hao Hon Street, Cau Ong Lanh Ward, Ho Chi Minh City, Vietnam

Abstract: Economic model and economic growth are always recognised such as the most important topic in economics. This paper aims to examine the export-led growth hypothesis in Vietnam, an emerging economy in Asia. The Error correction model and Johansen cointegration test are employed for checking this hypothesis. The database is collected by a quarterly form in the period of 2000-2020 and divided into two sub-periods. The cointegration test confirms that there is an existence of long-term cointegration relationships between variables. The long-term and short-term coefficients of the export variable are significantly positive and confirm the export-led growth hypothesis in Vietnam. The coefficients of the export variable have robustly raised over the study periods, which suggest that international integration has improved the impact of exports on economic growth. Finally, some policy implications are provided for enhancing trade development and support exports as the key development strategy in Vietnam in the future.

Keywords: export-led growth; economic growth; emerging economy; cointegration test; dynamic model; international integration.

DOI: 10.1504/IJBG.2025.148780

International Journal of Business and Globalisation, 2025 Vol.41 No.2, pp.139 - 155

Accepted: 17 Jun 2023
Published online: 24 Sep 2025 *

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