Workshop 2013

The sixth Vietnam Economist Annual Meeting

VEAM 2013

The Vietnam Economist Annual Meeting (VEAM) is annual meeting organized for domestically- and internationally-based economists and other social researchers to present their studies and works.

VEAM brought together social scientists and PhD students from Vietnam and all over the world to exchange their ideas on management and economics. The meeting provided an opportunity to initiate a worldwide network of Vietnamese economists and other social scientists, expand and consolidate cooperation in scientific researches. It was an opportunity for Vietnamese universities, economics and management schools, governmental agencies and companies to experience, first hand, economic and management researches of Vietnamese scholar community all over the world. The meeting included a variety of other activities, including informal discussions, presentations by leading international economists.

VEAM 2013 took place on 18th June – 19th June 2013 in Hue City, Vietnam.

The Sixth Vietnam Economist Annual Meeting (VEAM 2013) was hosted by the Development and Policies Research Center (DEPOCEN), the Hue College of Economics (HCE), Hue University, the French National Center for Scientific Research (CNRS), and the Foreign Trade University (FTU) .

The four keynote speakers for VEAM 2013 were:

  • 1. Stefano BOSI (Professor, University of Evry, France).
  • 2. Patrice FONTAINE (Professor, French National Centre for Scientific Research, France).
  • 3. PHAM Hoang Van (Professor, Baylor University, United States).
  • 4. John STACHURSKI (Professor, Australia National University, Australia).


The Hue University Learning Resource Center

Address: 20 Lê Lợi, Hue City.

The Hue College of Economics was founded under the Decision No. 126/2002/QD-TTg dated 27/09/2002 by the Government’s Prime Minister in recognition for its impressive achievement and developments through a number of predecessors. These predecessors include: Faculty of Agricultural Economics – Ha Bac II University of Agriculture from 1969 – 1983; Faculty of Economics – Hue College of Agriculture and Forestry from 1984 – 2002, and Faculty of Economics – Hue University from 1995 – 2002. To date, it is a member college of Hue University with the official full name: Hue College of Economics – Hue University (HCE – HU).

HCE is pioneering research and development in agriculture economics for Central of Vietnam. There are approximately 70 research projects conducted annually that aids the socio-economic development of Vietnam as well enables the College to constantly adapt and improve its teaching methods and information. With its positive contribution to the cause of national education and training, the College of Economics has received the State’s awards of honour: Third-class Labour Order (1997) and Second-class Labour Order (2009). Many faculties, functional offices and lecturers have been awarded the State’s Labour Order, and Certificates of Merits by the Prime Minister and the Minister of Education and Training.


Plenary Session 1

Chairperson: Duc Khuong Nguyen
Patrice Fontaine: Impacts of Introducing Short Maturity Options\

Parallel Sessions I

Room 1: Performance

Chairperson: Tran Thi Hien

  • Tran Thi Hien, Testing the Signal of Executive Remuneration and Corporate Social Performance
  • Bui Duc Tinh and Tran Huu Tuan, Mangrove Restoration or Aquaculture Development: Cost and Benefit of Mangrove Res toration Project in Thi Nai Lagoon, Binh Dinh Province

Room 2: Gender, Ethnical Societies

Chairperson: Sachiko Miyata

  • Hanne Roggemann, Myriam Hadnes, and Andreas Landmann, Risk Sharing in Ethnical Diverse Societies: Experimental Research in the Central Highlands of Vietnam
  • Sachiko Miyata, Hiroshi Murata, and Hiroyuki Yamada, Generational Evolution of Gender Role Attitudes and Young Female Labor Market Participation in Egypt

Room 3: Light Manufacturing Sectors, Services Sector

Chairperson: Hinh Truong DINH

  • Hung Trong Hoang, Factors Affecting a Favourable Service Climate: a Study of Service Firms in Vietnam
  • Hinh Truong DINH, Challenges for the Light Manufacturing Sector in Vietnam

Parallel Sessions II

Room1: Climate Change

Chairperson: Toan Phan

  • Hoang Duc Binh and Do Ba Khang, Business Responses to Climate Change in Developing Countries: A Conceptual Framework
  • Toan Phan and Hung Nguyen, Endogenous Perceptions of Climate Change

Room2: Portfolio allocation, Asset prices prediction

Chairperson: Nhat Le

  • Mohamed El Hedi Arouri, Duc Khuong Nguyen and Kuntara Pukthuanthong, Diversification Benefits and Strategic Portfolio Allocation Across Asset Classes: the Case of the US Market
  • Nhat Le, Are Asset Prices Predictable?

Room3: Finance, Credit Access

Chairperson: Le Thai Ha

  • Le Thai Ha and Youngho Chang, Dynamics between Strategic Commodities and Financial Variables
  • Dinh Thi Thanh Binh and Nguyen Huu Thinh, Determinants to the Credit Accessibility of SMEs in Vietnam

Plenary Session 2

Chairperson: Cuong Le Van
John Stachurski: New Insights from Coase’s Theory of the Firm

Parallel Sessions III

Room1: Trade Policy, FDI

Chairperson: Dao Ngoc Tien

  • Dao Ngoc Tien, Nguyen Quynh Huong, Nguyen Thu Hang, and Ngo Chi Le, Participation of Non-state Actors in Formulation of Trade Policy in Vietnam.
  • Tran Thi Anh Dao and Dinh Thi Thanh Binh, FDI Inflows and Trade Imbalances: Evidence from the Developing Asia

Room 2: Post Reforms, International Trade

Chairperson: Xiaocun Qiu

  • Xiaocun Qiu, Jianfei Xing, and Yixiang Zhao, Post-reform ¼ Century: Vietnam-China Comparison and Policy Implications for Vietnam
  • Binh Tran-Nam, A Critical Review of the Normative Theory of International Trade

Room 3: GARCH Modeling

Chairperson: Le Trung Thanh

  • Le Trung Thanh, University of Economics and Law, TDCC GARCH Modeling of Volatilities and Correlations of Emerging Stock Markets.
  • Tran Van Quang and Jan Kodera, Non-parametric Estimation of a GARCH-M Model with Differential Evolution.

Parallel Sessions IV

Room 1: Informal Sector

Chairperson: Axel Demenet

  • Nguyen Thi Minh Hieu, Nguyen Thi Huong Giang, Vu Thi Minh Ngoc, and Nguyen Viet Duc, Is Informal Economy Reduces Poverty in Vietnam? An Investigation from Quantile Regression
  • Axel Demenet, Mireille Razafindrakoto and François Roubaud, Do Informal Businesses Gain From Registration? Benefits of Household Businesses Formalization in Vietnam

Room 2: PPP, Balance of payments

Chairperson: Tran Thi Anh Dao

  • Bui Duy Hung, Does the Purchasing Power Parity Hold in Vietnam?
  • Bagnai, A. Rieber, and T.A.D. Tran, Economic Growth and Balance of Payments Constraint in Vietnam

Room 2: Credit Rating Agencies, Hedge Funds

Chairperson: Nguyen Thanh Liem

  • Nguyen Thanh Liem, The Interdependence Among Credit Rating Agencies: the Case of European Sovereign Debt Issuers
  • Franck Martin, Jean-Sébastien Pentecôte, Guillaume Queffelec, and Tran Thi Bich Ngoc, Stock Market and Global Macro Hedge Funds: Dynamic Linkages or Neutrality

Plenary Session 3

Chairperson: Manh-Hung Nguyen
Stefano Bosi: Preferences, pollution and growth

Parallel Sessions V

Room 1: Health, Education

Chairperson: Hoang Xuan Trung

  • Tran Nam Quoc, Returns to Education: a Case Study in the Mekong Delta – Vietnam
  • Hoang Xuan Trung, Long-term Health and Economic Consequences of the 1944-1945 Famine in Vietnam

Room 2: Labor Market

Chairperson: Laure Pasquier-Doumer

  • Pham Dinh Long, Pham Thi Bich Ngoc and Holger Görg, Trade Liberalization and Labor Market Adjustments in Vietnamese Manufacturing
  • Laure Pasquier-Doumer, Xavier Oudin, Pham Minh Thai, Francois Roubaud, and Vu Hoang Dat, Adjustment of the Labour Market in Time of Economic Fluctuations and Structural Changes

Room 3: Human Capital

Chairperson: Lien Pham

  • Diep Phan, Princelings and Paupers? State Employment and the Distribution of Human Capital Investments among Vietnamese Households.
  • Lien Pham, Reimagining the Ideology of International Education and Development: from Human Capital Theory to Perspectives of Freedom and Capability – a Case Study of Vietnamese Students in Australia.

Parallel Sessions VI:

Room 1: Natural Catastrophes

Chairperson: Phong Tran

  • Trung Dang Le, Estimating the Impact of Natural Catastrophes: The case of Typhoon Damrey
  • Bui Duc Tinh, Tran Huu Tuan, and Phong Tran, Impacts of Severe Flood Events in Central Vietnam: Toward Integrated Flood Risk Management

Room 2: Governance

Chairperson: Jairo Acuña/ Do Thanh Huyen

  • Jairo Acuña – Alfaro, Dang Ngoc Dinh, Dang Hoang Giang, Edmund J. Malesky, and Do Thanh Huyen, UNDP Viet Nam, The Viet Nam Provincial Governance and Public Administration Performance Index (PAPI) 2012: Measuring Citizens’ Experiences
  • Bui Quang Tuan, Phi Vinh Tuong, Pham Sy An, Vu Hoang Duong, Tran Thanh Phuong, and Tran Van Hoang, Land Management Quality and Public Governance Democratization: Impact Analysis of Democratization of Public Governance and Efficiency of Public Administration on Land Management Quality at the Local Level

Room 3: Risk, Performance

Chairperson: Nguyen Cuong

  • Nguyen Cuong, Does Idiosyncratic Risk Matter in the Vietnamese Stock Market?
  • Do Quang Hung and Jeng-Fung Chen, Integrating Managerial Preferences into the Assessment by the Fuzzy AHP/ DEA Approach: a Case Application in the Assessment of University Performance.

Plenary Session 4

Chair: Tran Van Hoa
Van Pham: Language Distance and Services Trade

Parallel Sessions VII

Room 1: Trade, FDI

Chairperson: Huu Thanh Tam Nguyen

  • Nguyen Viet Duong, Hoang Manh Cuong, and Dinh Thi Thanh Binh, Applying Gravity Model to Analyze Trade Activities of Vietnam.
  • Huu Thanh Tam Nguyen, Med Kechidi, and Alexandre Minda, Location Factors of Export-platform Foreign Direct Investment: Evidence from Vietnam

Room 2: Contested Development, Alienation

Chairperson: Ha Tran Thu

  • Duong Duc Dai, Human Development and Alienation in the Context of Economic Crisis in Vietnam
  • Ha Tran Thu, Contested Development: Should Development Be Freedom or Happiness

Room 3: General Equilibrium on Asset Markets

Chairperson: Pham Ngoc Sang

  • Le Van Cuong and Pham Ngoc Sang, Intertemporal Equilibrium with Financial Asset and Physical Capital
  • Pham Ngoc Sang, Collateral Monetary Equilibrium with Liquidity Constraints in an Infinite Horizon Economy
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