ELIMINATING HUMAN POVERTY: MACROECONOMIC AND SOCIAL POLICIES FOR EQUITABLE GROWTH IN VIETNAM

Abstract

The concept of equitable growth is gaining traction in developing nations. It is recognised that simply increasing economic growth does not always lead to equitable improvements for society as a whole. Therefore, effective government policies are necessary to ensure equitable outcomes. This study examines the impact of various social and macroeconomic policies on equitable growth in Vietnam from 1998 to 2022. Preliminary unit root testing reveals a varied degree of integration among the data series. The ARDL Bound Testing approach is used for analysis. The study's short-term results indicate that government expenditures, interest rates, and health expenditures all have a significant and positive influence on equitable growth. Similar results are also evident over an extended period of time. The short and long run estimations reveal that trade openness has a positive impact on equitable growth, while labour force participation and inflation have a negative impact. These findings are contingent upon controlling for other variables. The study recommends the promotion of targeted and inclusive social and macroeconomic policies based on the results.