Abstract: The article focused on estimating the relationship between economic growth and employment growth through employment elasticity and labor utilization coefficients of Vietnam’s economy during the period 2010-2020. In fact, economic growth can be contributed through various factors, including labor. Therefore, this study assumes that other factors remain unchanged, only the increase in labor leads to economic growth in calculating the estimated coefficients. Research results show that, although Vietnam’s economic growth is among the top in the region and the world, its impact on job creation capability is still quite limited. Besides, labor productivity is still low compared to other countries in the region. On that basis, the study argues that Vietnam needs to promote economic restructuring associated with renovating the growth model on the basis of improving labor productivity, and implementing a reasonable shift of labor structure among the sectors. |
Keywords and phrases: employment, elasticity coefficient, economics growth, Vietnam.
Received: September 3, 2021; Accepted: October 19, 2021; Published: November 29, 2021
How to cite this article: Hoang-Tuan Dao and Le-Hang Vu, Employment elasticity coefficient and economic growth in Vietnam, Advances and Applications in Statistics 71(2) (2021), 169-181. DOI: 10.17654/0972361721003
This Open Access Article is Licensed under Creative Commons Attribution 4.0 International License
References:
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