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This research tests the Arrow-Romer endogenous growth model on the Vietnamese economy, which has undergone significant market-oriented reforms over the past 30 years. Using a constant elasticity of substitution (CES) function and Bayesian nonlinear regression, the study finds that the elasticity of factor substitution is less than one, indicating that Vietnam has not yet achieved endogenous growth despite impressive growth rates. The author concludes that without simultaneous investments in physical and hum

Author

meta

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EN