서강대학교

목차

Essay 1: "Trade Liberalization and Poverty Reduction in Vietnam". This essay investigates the impacts of trade liberalization on poverty reduction in Vietnam during the period of economic reform. Using a comprehensive approach dealing with four transmitting channels from trade to poverty, it arrived at the following major findings. First, trade liberalization has fostered economic growth, which has helped to raise per capita GDP and reduce poverty. Second, trade liberalization has directly benefited the poor through creating pro-poor employment and raising wage. Third, another poverty impact of trade liberalization is income and substitution effects associated with increased domestic prices of the exportable (labor-intensive products) and reduced domestic prices of the importable. Finally, trade liberalization has indirectly benefited the poor because it raises government revenue, which enhances the government’s ability to subsidize the poor. Continued liberalization of trade, locking-in of domestic reforms and improvement of social protection system are suggested as solution for accelerated reduction of poverty in the time of Vietnam’s intensified regional and multilateral integration.

Essay 2: "Impacts of WTO Accession on the Vietnamese Economy". This essay provides a quantitative analysis of the economic effects of tariff reduction following Vietnam’s WTO accession. The analysis in this essay differs from previous studies in several aspects. First, the model is updated with the most recent database. Second, it incorporates non-standard features of the Vietnamese economy. Third, the model divides the Vietnamese households into 10 household groups, allowing for the assessment of household welfare and income distribution. The major findings of this essay are summarized as follows. First, Vietnam as a whole would benefit liberalization. Second, both exports and imports are expected to increase. Third, the overall gain would be accompanied by a redistribution of income and a moderate increase in inequality between the rich and the poor. Fourth, on the sectoral output, export-oriented sectors, sectors with large share of inputs in total imports, and sectors with increased domestic demands are likely to benefit, whereas domestic-oriented sectors are hurt from liberalization. Measures to increase labor mobility, target disadvantaged groups and areas, and further liberalize the service sectors are recommended as the recipe for the effective exploitation of Vietnam’s international integration and for a more equitable pattern of growth.

Essay 3: "ASEAN Free Trade Area: Discriminatory or Not? A case study for Vietnam and Singapore". This essay analyses and compares the economic effects of ASEAN Free Trade Area on the trade flows of Vietnam and Singapore. Using the gravity model, the essay shows a number of robust empirical findings. First, on the multilateral trade flows of Vietnam and Singapore, the model reveals no trade diversion following integration. Second, trade flows are not significantly affected immediately following the signing of the AFTA agreement. Third, trade distance still remains a hindrance to trade, indicating that globalization and integration have not mitigated the relevance of physical distance even though technological innovations continue to reduce transportation costs. Fourth, cultural familiarity, as a proxy for linguistic affinity and colonial relationship, continues to be an important determinant of bilateral trade flows. Finally, differences in per capita income among trading partners continue to have negative impacts on bilateral trade. Efforts to narrow the GDP gaps among members, improving social infrastructure, and continued domestic reforms are suggested as remedies for the obstacles to freer flows of trade in the region.