LV dohuyhoang16100314
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LV dohuyhoang16100314
UNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRA LV dohuyhoang16100314AMME FOR M.A IN DEVELOPMENT ECONOMICSDETERMINANTS AFFECT THE ACCESS TO FORMAL- INFORMAL FINANCE AND ITS IMPACT ON SALES GROWTHA thesis submitted in partial fulfilment of the requirements for the degree of MASTER OF ARTS IN DEVELOPMENT ECONOMICSHOANG QUYNH TRANGAcademic Supervisor:DR. TRUONG DANG THU LV dohuyhoang16100314YHO CHI MINH CITY, Nov. 2016DECLARATIONI declare that this thesis is entitled “Determinants affect the probability of access to formal- informal finanLV dohuyhoang16100314
ce and its impact on sales growth” is submitted by me in fulfillment of the requirements for the degree of Master of Arts in Development Economics to UNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRA LV dohuyhoang16100314de in the text to all materials used.Hoang Quynh TrangACKNOWLEDGMENTSFirst of all. from the bottom of my heart. 1 would like to say thanks to my supervisor, Dr. Truong Dang Ihuy, who always listens to my ideas, discusses and gives me helpful advices for my diesis, lie is also the first teacher who t LV dohuyhoang16100314aught me how to process and analyze the data with econometric tools. Although Ills time is quite limited, he always reminds and encourages me to do thLV dohuyhoang16100314
is diesis harder. Again. 1 deeply say dianks to Dr. Iruong Dang lliuy, without you it will take very long lime Io complete my dissertation.I would likUNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRA LV dohuyhoang16100314amme where 1 received useful knowledge throughout two years, which will positively support for my future work.Finally. 1 must express my profound attitude to my patents as well as to my better haft for non-stop encouraging me through the process of doing this research.This accomplishment could have LV dohuyhoang16100314not been possible if I did not receive extraordinary support from these people. Thank you.ABBREVIATIONSCIEMCentral Institute Economic ManagementGDPGroLV dohuyhoang16100314
ss Domestic ProductGSOGeneral Statistic officeMPIMinistry of Planning and InvestmentIVInstrumental variableOLSOrdinary Least SquareSMEsSmall and MediuUNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRA LV dohuyhoang16100314terprises (SMEs) in Vietnam in 2013 to explore the determinants affect the probability of access to formal and informal finance and its impact on growth rate. By employing bivariate probit model and instrumental variable method to solve endogeneity problem, this study finds that while formal finance LV dohuyhoang16100314 plays significantly positive role in improving firm performance, informal finance goes on opposite direction on growth rate. Besides, in term of acceLV dohuyhoang16100314
ssibility to official finance, firm size, receiving government assistance and good connection with banks have more advantageous than other factors. SoUNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRA LV dohuyhoang16100314 More interestingly, this study also points out that young entrepreneurs are more likely to select informal sector to finance their business operation than the old ones.Keywords: formal, informal, access to financing, sales growth, Vietnam.TABLE OF CONTENTSCHAPTER ONE; INTRODUCTION.................. LV dohuyhoang16100314...................11.1PROBLEM STATEMENT.......................................1UNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRAUNIVERSITY OF ECONOMICS HO CHI MINH CITY VIETNAMERASMUS UNVERSITY ROTTERDAM INSTITUTE OF SOCIAL STUDIES THE NETHERLANDSVIETNAM - THE NETHERLANDSPROGRAGọi ngay
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