Turning Vietnam’s COVID-19 Success into Economic Recovery: A new GLO Discussion Paper

A new GLO Discussion Paper for the Vietnam finds that having a job is strongly and positively associated with better finance and more income and savings, as well as more optimism about the resilience of the economy in the COVID-19 crisis.

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GLO Discussion Paper No. 566, 2020

Turning Vietnam’s COVID-19 Success into Economic Recovery: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy – Download PDF
by
Dang, Hai-Anh H. & Giang, Long T.

GLO Fellow Hai-Anh Dang

Author Abstract: The COVID-19 pandemic has resulted in income and employment loss in many countries around the world. Yet, hardly any formal study exists on household finance and future economic expectations in poorer countries. To fill in this gap, we implemented and analyzed a web-based rapid assessment survey immediately after the removal of lockdown measures in Vietnam, a lower-middle-income country that has received widespread recognition for its successful fight against the pandemic. We find that having a job is strongly and positively associated with better finance and more income and savings, as well as more optimism about the resilience of the economy. Further disaggregating employment into different types of jobs such as self-employment and jobs with permanent and short-term contracts, we find those with permanent job contracts to be more strongly associated with better assessments and fewer job worries. Individuals with good health and higher educational levels also have more positive evaluations for their current and future finance. These findings are relevant for post-outbreak economic policies, especially regarding the labor market in a developing country context.

More from the GLO Coronavirus Cluster

GLO Discussion Papers are research and policy papers of the GLO Network which are widely circulated to encourage discussion. Provided in cooperation with EconStor, a service of the ZBW – Leibniz Information Centre for Economics, GLO Discussion Papers are among others listed in RePEc (see IDEAS,  EconPapers)Complete list of all GLO DPs – downloadable for free.

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