tailieunhanh - A stochastic analysis of Vietnam bilateral trade efficiency

This paper used a stochastic frontier gravity model to evaluate the bilateral trade efficiency of Vietnam using the bilateral trade data of Vietnam’s main trade counterparts in the period 2000- 2015. Trade efficiency means the actual trade in comparison with the trade potential. | Journal of Economics and Development August 2018 pp. 50-64 ISSN 1859 0020 A Stochastic Analysis of Vietnam Bilateral Trade Efficiency Ho Dinh Bao National Economics University Vietnam Email hodinhbao@ Pham Van Minh National Economics University Vietnam Email minhpv@ Pham Vinh Thai National Economics University Vietnam Email thai71qn@ Truong Nhu Hieu National Economics University Vietnam Email truongnhuhieu89@ Received 30 January 2018 Revised 26 June 2018 Accepted 02 July 2018 Abstract This paper used a stochastic frontier gravity model to evaluate the bilateral trade efficiency of Vietnam using the bilateral trade data of Vietnam s main trade counterparts in the period 20002015. Trade efficiency means the actual trade in comparison with the trade potential. Empirical results show that Vietnam s trade performance was significantly lower than the potential level. Joining the WTO did not improve trade efficiency. The impact of FTAs on exploiting bilateral trade potential is heterogeneous across counterparts. Keywords Stochastic frontier gravity model trade potential free trade agreement. JEL code F13 F14 F53 F60. Journal of Economics and Development 50 Vol. 20 August 2018 1. Introduction From the initial ideas of Tinbergen 1962 the gravity model was widely used in studies of international economics. It was built on the idea of Newton s Law of Universal Gravitation which implied that business between two countries was under the effect of the scale and gap between them. It was a function of the properties of the exporting country the importing country and the obstacles between these two countries. This model in international trade has proven surprisingly stable over time and across different samples of countries and methodologies Chaney 2011 . In the conventional gravity equation the distance between two countries has a negative effect on trade and the size of the two economies which is often determined by GDP has a

• Kinh tế học
• Stochastic frontier gravity model
• Trade potential
• Free trade agreement
• Actual trade
• Heterogeneous across counterparts
• Shirmp export
• Export growth decomposition
• GDP growth