| Summary: | 碩士 === 南台科技大學 === 企業管理系 === 97 === Vietnam’s performance in economic growth has been remarkable since it
has launched Doi moi initiative in 1986. This remarkable economic growth has
drawn lot attentions from researchers. However, few studies have incorporate
annual data on Vietnam’s human capital stock, and thus contained an omission
bias. In this study, we construct a measure of Vietnam’s human capital stock from
1986 – 2006, and employ it in our analysis of the role of human capital
accumulation on economic growth during this period.
We found that, there is a uni – directional causal relationship, running from
human capital to economic growth. Or in other words, human capital has
contributed to economic growth. However, the contribution of human capital on
economic growth is very moderate. After incorporating human capital, the growth
of physical capital accumulation still plays a positive and significant role during
the studied period.
The study also found that Vietnam’s economic growth during the period is
factor inputs accumulation – driven. The contribution of productivity growth is
limited during 1986 – 2003. This is a matter of concerns if Vietnam is to sustain
its growth and welfare improvement in the next period.
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