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Effects of education, renewable energy adoption, public health expenditure, environmental performance and natural resource abundance on sustainable economic growth
Authors: Le Van Dai, Nguyen Thi Thu Cuc, Nguyen Huu Trinh, Nguyen Thi Bich Thuy
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Sustainable economic development of Vietnam in the new context
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Publishing year: 12/2023
The present research aims to assess the influence of education, renewable energy adoption, public health expenditures, environmental performance and the abundance of natural resources of the sustainable economic growth of Vietnam. The researcher has selected quantitative secondary data approach and has studied the economic growth of Vietnam by considering the data from 2000 onwards. Data was extracted from the official database of the World Bank. Data was analyzed through applying statistical techniques of QARL method which is an expanded version of ARDL “Autoregressive distributed lag”. Results indicated that there is a significant association between environmental performance and economic growth in long run quantile regression. Rest of the variables such as FDI, abundance of natural resources, public health expenditures, renewable energy adoption and urbanization have been reported to be insignificant. Similarly, for the short run, the associations of environmental performance, FDI, abundance of natural resources, public health expenditures, renewable energy adoption, urbanization and economic growth has been resulted to be insignificant. This research provides beneficial guidelines to the authoritative bodies of Vietnam to consider the education, renewable energy adoption, public health expenditure, environmental performance and natural resource abundance as effective predictors to gain sustainable economic growth
Education, Renewable Energy, Public Health Expenditures, Environmental Performance, Natural Resources.