THE RELATIONSHIP BETWEEN TRADE OPENNESS AND ECONOMIC GROWTH IN VIETNAM
This article studies the relationship between trade openness (TO) and economic growth in Vietnam from 1991 to 2023. The authors examine the concept, role, and negative impacts of trade openness and the concept and cost-benefits of economic growth, providing an overview of the relationship between TO and economic growth. Data on the total import-export turnover and GDP (representing economic growth) from 1991-2023 were collected from GSO, International Financial Statistics, and WB to calculate the TO index. A regression model was constructed to illustrate the relationship between TO and GDP, showing that when the previous year's GDP fluctuated by 1%, the GDP in the considered year fluctuated by 0.327711%. Similarly, when the previous year's TO fluctuated by 1%, the GDP in the considered year fluctuated by 0.058527%. The results support the view that trade openness (TO) plays an important role in promoting economic growth (g) in Vietnam. Based on the findings, the authors offer several recommendations to boost exports, increase trade openness, and support economic growth.
Trade Openness; Economic Growth; Vietnamese Economic; Export Value; Import Value.