Investigating the determining factors of sustainable FDI in Vietnam

PurposeThe main purpose of this paper is to analyze the sustainable inward FDI pattern of Vietnam.Design/methodology/approachThis paper intends to analyze the sustainable FDI pattern of Vietnam using the gravity theory and panel data approach for the annual data over the period of 2007–2020.FindingsVietnamese FDI volume is positively affected by political and social factors, globalization and green energy consumption, while geographical distance is a major obstacle to the increase of FDI inflows of the country.Practical implicationsAs the main practical policy implications, issuing policies for sustainable economic growth, launching the novel strategy of green FDI neighborhood policy and regionalism through free trade agreements are recommended.Originality/valueTo the best of author's knowledge, there has not been any in-depth academic study focusing on the Vietnam's sustainable FDI. In addition, three robustness checks have been conducted to ensure the validation of empirical findings.

NATIONAL WEALTH MANAGEMENT FOR SUSTAINABLE ECONOMIC GROWTH

The substantiations for the use of the indicator of national wealth, including produced, natural and human capital, as a tool for managing the sustainability of the economic growth of the state are given. Considering that at present the measurement of the National Wealth in the Republic of Belarus is limited to fixed assets, the approaches of the World Bank to assessing the National Wealth by countries of the world are considered. The amount and structure of the national wealth of the Republic of Belarus in the assessment of the World Bank based on data for 2018 is presented. A comparative analysis of the share of produced, natural and human capital in the Republic of Belarus, CIS countries, regions of the world and countries with different income levels is carried out. The approaches to the management of national wealth to ensure sustainable development are considered, allowing to diversify the portfolio of assets and ensure balanced investment in various assets to ensure greater sustainability of the state.

Nexus Between Money Laundering and Sustainable Development Goals

Money laundering is a hot debate discussion among policymakers, as money laundering usually arises due to theft of money or other illegal activity. Such criminal activities damage every stakeholder of the economic cycle, whether it is trade, productivity, or contribution of the financial sector itself. Due to the fact money laundering makes the industrial growth process very slow and undercuts economic activities, which are essential for the development. This chapter explores the nexus between money laundering as a threat to a sustainable development goal from different angles. The discussion reveals that money laundering negatively impacts economic growth, and the fundamental pillar of sustainable development is economic growth. So can we achieve sustainable economic growth and development without controlling money laundering? The authors conclude it is not possible.

Developing a National Innovation System in Small States

This study shares some empirical insights for adopting a national innovation system (NIS) to catalyze capacity building in small states with relatively low technology-based research and development resources. These countries may have to start further back than other nations; however, this chapter maintains that with the right NIS, latecomers can have the advantage of catching up economically. This study explores Brunei Darussalam's journey to catalyze innovation for sustainable economic growth, particularly digitalization and deep tech. The study found that establishing a national innovation ecosystem could be effective with national consensus and acceptance behind the approach. It emphasizes building critical infrastructures, institutions, and governance to promote efficient knowledge flow, talent development, digital literacy, and overall absorptive capacity. Because Brunei is a small state, coordinating and facilitating cohesive linkages among its key stakeholders can strategically mobilize change. As Brunei Darussalam embarks on such a trajectory, it must determine a relevant model.

Green Finance and Sustainable Development

Green finance is currently gaining importance with the growing global resistance to climate change. However, there is limited empirical evidence supporting green finance and economic development nexus considering environmental issues. Despite the fastest growing economy in Asia, Bangladesh still has ambiguity about the role of green finance on sustainable economic growth, though it is already initiated in Bangladesh. Therefore, applying correlation matrix and Granger causality test, this chapter aims to overview the present scenario and identify the role of green finance on sustainable development in Bangladesh from 2014-2019. Hence, it considers GDP growth and CO2 emissions for economic development and climate change issues, respectively, and green finance as the proxy of greening. This study finds that renewable energy consumption and power generation from renewable and waste contribute to green growth. Hence, this study suggests green finance for sustainable development not only in Bangladesh but also in other emerging economies.

Empirical Analysis of Evidence-Based Policymaking in R&D Programmes

This study explores evidence-based policymaking (EBP) in public research and development (R&D) programmes. Governments develop and implement R&D programmes to promote innovation, the key driver of sustainable economic growth. For effective management, public policies should be planned, executed, and terminated based on their impact evaluation and feedback. Although many studies have investigated the impact of R&D support, few have analysed whether it evolves on the basis of evidence. Using a dataset of Korean programmes, this study adopted the propensity score matching with a difference-in-differences method. We distinguished four determinants of performance evidence: R&D intensity, assets, sales, and profits growth. The following are the main results: (1) while R&D intensity, sales, and profits growth reveal the efficiency of the EBP mechanism, the performance of assets do not differ across the abolished and continued programmes; (2) the EBP process classified by subsidy amount reveals no statistically significant differences in terms of R&D intensity and profits. This suggests that policymakers need to consider the amount of subsidy granted under the budget limitation. This study contributes to the empirical research on EBP using heterogeneous evidence indicators and describes how policymakers exploit policy evaluation to implement and monitor policies for sustainable development.