Combining Export- and Domestic Demand-Led Growth Hypotheses: Key Sustainable Development Amidst Global Dynamics

Economic Growth Export-Led Growth Domestic Demand-Led Growth Global Dynamics Sustainable Development Innovations Vietnam.

Authors

  • Nguyen T. X. Hoa School of Economics and Management, Hanoi University of Science and Technology,, Viet Nam
  • Tran Thi Bich Ngoc
    professor.tran.thibichngoc@gmail.com
    School of Economics and Management, Hanoi University of Science and Technology,, Viet Nam
  • Dao Thanh Binh School of Economics and Management, Hanoi University of Science and Technology,, Viet Nam
  • Lam Tran Si School of Economics and International Business, Foreign Trade University,, Viet Nam
  • Dinh Thi Phuong Anh Vietjetair Company,, Viet Nam
Vol. 5 No. 2 (2024): June
Research Articles

Downloads

Export-led growth has conventionally been regarded as a pivotal determinant of economic growth in developing countries. The article aims to affirm the vulnerability of Vietnam's export sector due to its dependence on foreign direct investment flows and external market demand and evaluate the validity of the export-led growth strategy being applied in Vietnam among evolving global dynamics. The review of relevant literature explored the theoretical foundations, theories, and concepts of export-led and domestic demand-led growth with regard to the causal link between exports and economic growth. Qualitative and secondary research methods were used to analyze statistical data sets on imports and exports and domestic demand components to highlight their impact on the country's GDP growth. The results showed that it is necessary to embrace both export-led growth and domestic demand-led growth as concurrent development paradigms, thereby ensuring the sustainability of Vietnam's economic growth.

 

Doi: 10.28991/HIJ-2024-05-02-05

Full Text: PDF