Globalization, FDI and employment in Vietnam

Abstract

The article considers the impact of foreign direct investment on employment in Viet Nam, a country that received considerable inflows of foreign capital in the 1990s as part of its increased integration with the global economy. Despite the significant share of foreign firms in industrial output and exports, the direct employment generated has been very limited because of the high labour productivity and low ratio of value added to output of much of this investment. The article also shows that the indirect employment effects have been minimal and possibly even negative because of the limited linkages which foreign investors create and the possibility of “crowding out ” of domestic investment. Key words: foreign direct investment; employment; Viet Nam; manufacturing; capital-intensity

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