Tác động của kiều hối lên đầu tư tư nhân ở các quốc gia đang phát triển: Vai trò của chất lượng thể chế=The impact of remittance inflows on private investment in developing economies: The role of instituitional quality

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Tác giả: Bổn Nguyễn Văn, Oanh Trần Thị Kim, Thịnh Lê Vĩnh, Chu Thị Thanh Trang

Ngôn ngữ: vie

Ký hiệu phân loại:

Thông tin xuất bản: Tạp chí Khoa học Đại học Mở Thành phố Hồ Chí Minh - Kinh tế và Quản trị kinh doanh, 2024

Mô tả vật lý: tr.32-46

Bộ sưu tập: Metadata

ID: 481376

Thêm vào giỏ

In addition to Official Development Aid (ODA) and Foreign Direct Investment (FDI), remittances play a crucial role in the economic activities of developing economies. At the same time, private investment is an essential driver of economic growth. Does institutional quality influence the relationship between remittances and private investment in developing economies? This paper seeks this research question by employing the two-step system and difference GMM estimators to examine the impacts of remittances, institutional quality, interaction between remittances and institutional quality, and some control variables (labor force, economic growth, and inflation) on private investment for a dataset of 87 developing countries from 2002 to 2022. Surprisingly, the results reveal counter-intuitive findings. The results are counter-intuitive in that remittance promotes and institutional quality decreases private investment, but their interaction increases it. Moreover, economic growth, labor force, and inflation are positive determinants of private investment in these countries. From these findings, we recommend governments in developing countries should improve regulatory quality, promote the rule of law, respect voice and accountability, enforce control of corruption, improve government effectiveness, and promote political stability to attract more remittance inflows and promote private investment.Ngoài vốn viện trợ phát triển chính thức (ODA) và đầu tư trực tiếp nước ngoài (FDI), kiều hối giữ vị thế quan trọng trong các hoạt động kinh tế ở các nền kinh tế đang phát triển, trong khi đầu tư tư nhân là một trong hai nguồn lực có tính quyết định trong mô hình tăng trưởng kinh tế. Liệu chất lượng thể chế có ảnh hưởng gì đến tác động của kiều hối lên đầu tư tư nhân ở các quốc gia đang phát triển? Nghiên cứu này cung cấp lời giải thông qua các ước lượng GMM sai phân và hệ thống hai bước (cách tiếp cận định lượng) để đánh giá tác động của kiều hối, chất lượng thể chế, biến tương tác giữa kiều hối và chất lượng thể chế, và các biến kiểm soát như tăng trưởng kinh tế, lực lượng lao động, và lạm phát lên đầu tư tư nhân cho một nhóm 87 nền kinh tế đang phát triển trong khoảng thời gian từ 2002 đến 2022. Kết quả ghi nhận sự nghịch lý ở chỗ kiều hối làm tăng và chất lượng thể chế làm giảm đầu tư tư nhân, nhưng biến tương tác giữa hai biến này lại thúc đẩy. Ngoài ra, tăng trưởng kinh tế, lạm phát, và lao động là các yếu tố thúc đẩy đầu tư tư nhân có ý nghĩa ở các quốc gia này. Từ các phát hiện này, chúng tôi khuyến nghị các chính phủ ở các nền kinh tế đang phát triển nên nâng cao chất lượng luật lệ, đề cao vai trò của nhà nước pháp quyền, tôn trọng tiếng nói của người dân và thực thi việc giải trình, thực thi kiểm soát tham nhũng, cải thiện hiệu quả chính phủ, và ổn định chính trị nhằm thu hút nhiều hơn kiều hối và thúc đẩy đầu tư tư nhân.

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