The impact of key factors, taxation and economic structural transformation on Vietnam’s economic growth
Published: July 25, 2026
Abstract
The study analyzes the determinants of economic growth across 63 provinces and cities in Vietnam during the 2012-2023 period, using panel data models and the GLS method. The results indicate that labor, private investment, and public investment have positive impacts, along with transport infrastructure. Economic structural transformation shows a moderately positive effect, while the tax-to-GDP ratio has a negative impact. In contrast, the revenue-to-expenditure ratio reflects the positive role of fiscal capacity. FDI and information technology exhibit limited and statistically insignificant effects. The findings suggest that growth in Vietnam still relies on traditional input factors but is gradually shifting toward institutional and structural drivers. Some policy implications include improving labor quality, enhancing investment efficiency, strengthening fiscal governance, promoting deeper structural transformation, and increasing the capacity to absorb technology.
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