Số 231 | Tháng 6/2025
Tác động của việc áp dụng ESG đến đầu tư trực tiếp nước ngoài và tăng trưởng kinh tế tại Việt Nam
Đỗ Đoan Trang, Phan Khánh Duy
Tóm tắt:
Nghiên cứu này phân tích tác động của việc áp dụng tiêu chí môi trường, xã hội và quản trị (ESG) ở cấp độ doanh nghiệp tại Việt Nam đến dòng vốn đầu tư trực tiếp nước ngoài (FDI) và tăng trưởng kinh tế giai đoạn 2018-2023. Mẫu nghiên cứu gồm 378 quan sát từ dữ liệu bảng không cân bằng của 63 tỉnh, được thu thập từ Tổng cục Thống kê, VCCI, World Bank và bộ chỉ số ESG nội bộ. Bài viết sử dụng phương pháp tổng quát hệ thống về các mô men (System Generalized Method of Moments – SGMM) để kiểm soát tính nội sinh cũng như động học, kết quả cho thấy ESG có tác động cùng chiều lẫn đạt ý nghĩa thống kê đến cả FDI (hệ số = 0,185; p < 0,01) và tăng trưởng kinh tế (hệ số = 0,151; p < 0,05). Ngoài ra, FDI cũng góp phần thúc đẩy tăng trưởng (hệ số = 0,273; p < 0,05), đặc biệt trong điều kiện ổn định chính trị (hệ số = 0,275; p < 0,01). Các phát hiện khẳng định vai trò then chốt của ESG trong thu hút đầu tư chất lượng và nâng cao hiệu quả phát triển kinh tế bền vững.
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The Impact of ESG Application on Foreign Direct Investment and Economic Growth in Vietnam
Abstract:
This study analyzes the impact of applying Environmental, Social and Governance (ESG) criteria on foreign direct investment (FDI) inflows and economic growth in Vietnam during 2018–2023. The research sample consists of 378 observations from unbalanced panel data of 63 provinces, collected from the General Statistics Office, VCCI, World Bank and internal ESG index set. Using the System Generalized Method of Moments (SGMM) to control for endogeneity and dynamics, the results show that ESG has a positive and statistically significant impact on both FDI (coefficient = 0,185; p < 0,01) and economic growth (coefficient = 0,151; p < 0,05). In addition, FDI also contributes to promoting growth (coefficient = 0,273; p < 0,05), especially in conditions of political stability (coefficient = 0,275; p < 0,01). The findings confirm the key role of ESG in attracting quality investment and improving the efficiency of sustainable economic development.