Overview of Socio-Economic Factors Affecting Labour Productivity and Policy Implications for Vietnam
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DOI:
https://doi.org/10.63640/3030-4091/jpd.apd.151Từ khóa:
Financial Development, Foreign Direct Investment, Government Effectiveness, Human Development Index, Labor Force Participation Rate, Labor ProductivityTóm tắt
The study of labour productivity plays a key role in the economic development of countries around the world. Exploring the varied impacts of socio-economic factors on labour productivity among nations at different stages of development is important for all countries, and especially crucial for Vietnam in its recent efforts to improve labour productivity. Based on a literature review, this research aims to provide an overview of the impacts of socio-economic factors, such as the Human Development Index (HDI) plays an indirect role in promoting labor productivity growth, Financial Development (FD) has a positive effect on labor productivity, but FD also has negative effects on labor productivity; and the Labor Force Participation (LFP) Rate has both positive and negative effects on labor productivity, along with policy implications for Vietnam.
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