Bac T uong Cong
A icle
The impac o me opolises' cha ac e is ics on p o incial
economic s uc u e ans o ma ion: E idence om
Vie nam
Cogen Economics & Finance
P o ided in Coope a ion wi h:
Taylo & F ancis G oup
Sugges ed Ci a ion: Bac T uong Cong (2021) : The impac o me opolises' cha ac e is ics on
p o incial economic s uc u e ans o ma ion: E idence om Vie nam, Cogen Economics &
Finance, ISSN 2332-2039, Taylo & F ancis, Abingdon, Vol. 9, Iss. 1, pp. 1-16,
h ps://doi.o g/10.1080/23322039.2021.1937849
This Ve sion is a ailable a :
h ps://hdl.handle.ne /10419/270110
S anda d-Nu zungsbedingungen:
Die Dokumen e au EconS o dü en zu eigenen wissenscha lichen
Zwecken und zum P i a geb auch gespeiche und kopie we den.
Sie dü en die Dokumen e nich ü ö en liche ode komme zielle
Zwecke e iel äl igen, ö en lich auss ellen, ö en lich zugänglich
machen, e eiben ode ande wei ig nu zen.
So e n die Ve asse die Dokumen e un e Open-Con en -Lizenzen
(insbesonde e CC-Lizenzen) zu Ve ügung ges ell haben soll en,
gel en abweichend on diesen Nu zungsbedingungen die in de do
genann en Lizenz gewäh en Nu zungs ech e.
Te ms o use:
Documen s in EconS o may be sa ed and copied o you pe sonal
and schola ly pu poses.
You a e no o copy documen s o public o comme cial pu poses, o
exhibi he documen s publicly, o make hem publicly a ailable on he
in e ne , o o dis ibu e o o he wise use he documen s in public.
I he documen s ha e been made a ailable unde an Open Con en
Licence (especially C ea i e Commons Licences), you may exe cise
u he usage igh s as speci ied in he indica ed licence.
h ps://c ea i ecommons.o g/licenses/by/4.0/
Full Te ms & Condi ions o access and use can be ound a
h ps://www. and online.com/ac ion/jou nalIn o ma ion?jou nalCode=oae 20
Cogen Economics & Finance
ISSN: (P in ) (Online) Jou nal homepage: h ps://www. and online.com/loi/oae 20
The impac o me opolises’ cha ac e is ics on
p o incial economic s uc u e ans o ma ion:
e idence om Vie nam
Bac T uong Cong |
To ci e his a icle: Bac T uong Cong | (2021) The impac o me opolises’ cha ac e is ics on
p o incial economic s uc u e ans o ma ion: e idence om Vie nam, Cogen Economics &
Finance, 9:1, 1937849, DOI: 10.1080/23322039.2021.1937849
To link o his a icle: h ps://doi.o g/10.1080/23322039.2021.1937849
© 2021 The Au ho (s). This open access
a icle is dis ibu ed unde a C ea i e
Commons A ibu ion (CC-BY) 4.0 license.
Published online: 21 Jun 2021.
Submi you a icle o his jou nal
A icle iews: 1418
View ela ed a icles
View C ossma k da a
Ci ing a icles: 2 View ci ing a icles
FINANCIAL ECONOMICS | RESEARCH ARTICLE
The impac o me opolises’ cha ac e is ics on
p o incial economic s uc u e ans o ma ion:
e idence om Vie nam
Bac T uong Cong
1
*
Abs ac : Economic s uc u e ans o ma ion is widely ecognized as a c ucial ole in
sus ainable de elopmen . Howe e , he exis ing li e a u e almos ocused on he
change inside ce ain economic a eas and igno ed he ex e nal ela ionship. This
aises he ques ion abou he ole o ac o s ou side in economic s uc u e ans o -
ma ion a he p e ec u e-le el. This pape akes Vie nam as he s udy a ea o ill his
gap and examines he impac o me opolis’s cha ac e is ics on he p o inces’ eco-
nomic s uc u al ans o ma ion. Using da a o p o incial economic s uc u e om
2015 o 2018 collec ed om he Gene al S a is ics O ice o Vie nam, he econome ic
analysis wi h ins umen a iables o panel da a is pe o med. The esul s show ha
me opolises play an impo an ole in he economic s uc u e change o p o inces
h ough ce ain oles: des ina ion o mig a ion and s a -poin o emi ances, he
ma ke o goods and se ices, hubs o in o ma ion and knowledge.
Subjec s: De elopmen S udies; Regional De elopmen ; Economics and De elopmen ;
Economics; De elopmen Economics
Keywo ds: Economic s uc u e ans o ma ion; p e ec u e-le el; egional linkages;
ins umen a iables; me opolis; Vie nam
1. In oduc ion
Economic s uc u al ans o ma ion o s uc u al ans o ma ion o s uc u al change is usually
de ined as he ealloca ion o economic ac i i y ac oss he b oad sec o s o ag icul u e, man-
u ac u ing, and se ices (Diao, McMillan e al., 2019; He endo e al., 2014; Kuzne s, 1973)
plays an impo an ole in de elopmen . In his o y, along wi h each coun y’s economic de el-
opmen is he economic s uc u al change (Rod ik, 2016). The change in s uc u es accompanies
mode n economic g ow h, enabling a sus ained inc ease in p oduc i i y and li ing s anda ds
Bac T uong Cong
ABOUT THE AUTHOR
T uong Cong Bac I am Ph.D. Candida e in
Economics a Uni e si y o Economics and Law,
Vie nam Na ional Uni e si y Ho Chi Minh Ci y/
VNU-HCM. I hold a Mas e o Economics om
Toulouse School o Economics, F ance. My
esea ch in e es s a e in he a eas o economics,
de elopmen economics, egional linkages, eco-
nomic policy.
PUBLIC INTEREST STATEMENT
Economic s uc u e ans o ma ion plays
a c ucial ole in sus ainable de elopmen ; he e-
o e, i has a ac ed he massi e a en ion o
esea che s. Taking Vie nam as he case s udy,
his pape indica es ha he economic s uc u e
ans o ma ion in p o inces is a ec ed by
me opolises’ cha ac e is ics. Mo e speci ically, o
p omo e he p o incial ans o ma ion, inc eas-
ing sala y o imp o ing he sys em o heal hca e
and educa ion in me opolises a e sugges ed. In
addi ion, policies o enhancing he in o ma ion
linkages and de eloping he ma ke a e also
b illian solu ions.
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 1 o 16
Recei ed: 30 Ma ch 2021
Accep ed: 30 May 2021
*Co esponding au ho : T uong Cong
Bac, Uni e si y o Economics and
Law, Vie nam Na ional Uni e si y, Ho
Chi Minh Ci y, Vie nam
E-mail: [email p o ec ed]:
[email p o ec ed]
Re iewing edi o :
Wai Ching Poon, Economics, Monash
Uni e si y - Malaysia Campus,
MALAYSIA
Addi ional in o ma ion is a ailable a
he end o he a icle
© 2021 The Au ho (s). This open access a icle is dis ibu ed unde a C ea i e Commons
A ibu ion (CC-BY) 4.0 license.
(Loayza & Radda z, 2010; McMillan & Headey, 2014), e en os e ing u baniza ion, c ea ing new
social ca ego y habi s (Rod ik, 2016). The economic s uc u e is also conside ed o p o ide
oppo uni ies o make new combina ions ha e ol e in o new g ow h pa hs (Boschma, 2015).
Besides ha , he economic s uc u e also has a closed ela ionship o esilience and he abili y
o deal wi h unique challenges (Da ies, 2011; G oo e al., 2011). F om he policy’s iewpoin , i
can be seen as a policy ins umen owa ds esilience o e u n o he p e ious equilib ium a e
a shock o dis u bance ac oss a ious disciplines (Van Aswegen & Re ie , 2020). Fo hese
easons, he la ge su ge o in e es in economic s uc u al change has indeed ed a la ge
discussion and in es iga ion (McMillan & Headey, 2014). Howe e , hese s udies almos men ion
s uc u al ans o ma ion a he coun y-le el while he p e ec u e-le el s udies a e minimal.
The exis ing li e a u e also ocuses on he o ces o ans o ma ion, which a e changes inside
ce ain economic a eas and igno ed he ex e nal ela ionship. Clea ly, any a eas a e co e ed by
he egional linkages and di ided in o unequal de elopmen known as ei he u ban/co e o
u al/pe iphe y. As E ans (1990) has a gued, any discussions on de elopmen need o conside
u al-u ban linkages wi h ega d o bo h economic de elopmen and s uc u al ans o ma ion.
This aises he ques ion abou he impac o egional linkages in p o inces’ economic s uc u al
ans o ma ion in heo e ical and empi ical esea ch.
To ill his gap, his s udy’s main objec i e is o connec he exis ing li e a u e and p o ide an
ex ended pic u e o p o incial economic s uc u al ans o ma ion om egional linkages. E idence is
sough om expe imen s wi h all p o inces in Vie nam, a de eloping coun y, which has unde gone
a d as ic change in he economic s uc u e. A e 30 yea s o economic and poli ical e o m in 1986,
Vie nam expe ienced ans o ming om one o he wo ld’s poo es na ions in o a lowe middle-
income coun y and became one o he as es -g owing coun ies in he wo ld. The impo an pa o
his accele a ed economic pace is labo shi ing om ag icul u e o manu ac u ing and se ices. In
2019, Vie Nam’s GDP g ow h go 7.02%, nea ly o 7.08% in 2018, which was one o he as es
g ow h a es in he egion. F om 1989 o 2019, GDP pe capi a inc eased by 4.9 imes, eaching o e
US$ 2700 in 2019
1
and his p ocess also con inues a he p e ec u e-le el. Vie Nam’s con empo a y
simila i ies o a la ge numbe o de eloping coun ies make i s expe iences highly ele an o many
egional and ex a- egional s akeholde s; he e o e, he in es iga ion o hese p o inces can be seen
as he well- ep esen ed case s udy in he in es iga ion o p o incial economic s uc u al ans o ma-
ion. Conside ing he p o inces as he pe iphe ies and me opolises as he co e, he s udy employs
egional linkages’ heo ies o se up he hypo heses abou me opolises’ cha ac e is ics ha impac
p o incial s uc u e change. The econome ic analyses a e hen pe o med be o e in e p e ing key
esul s and making a ew concluding ema ks ha also poin owa d u u e esea ch. The indings
help cla i y wha ole me opolises can play in he p o incial s uc u e change and wha kind o
incen i es should be de eloped o p omo e his ans o ma ion.
The es o his s udy is o ganized as ollows: The second sec ion e isi s p e ious ela ed s udies’
esul s and de elops he hypo heses. In he hi d sec ion, he me hodology and da a a e in o-
duced. The ou h sec ion con ains he main indings. The discussion is p o ided in he i h sec ion.
The six h sec ion concludes he s udy and p o ides he di ec ion o u u e esea ch.
2. Theo e ical backg ounds and hypo hesis de elopmen s
2.1. S uc u al ans o ma ion
The economic s uc u al ans o ma ion has been in es iga ed o a long ime, and he wo main
mechanisms h ough which he p ocess o s uc u al change can occu ha e been p oposed:
Demand and Supply-side explana ions. F om he iewpoin o demand-side explana ion, he ole
o non-homo he ici ies whe eby goods di e in income elas ici y is he main issue (Foellmi &
Zweimülle , 2008; Kongsamu e al., 2001). F om he iewpoin o supply-side explana ion,
sec o al p oduc i i y di e ence is ocused (Bus os e al., 2019; Dua e & Res uccia, 2010; Gollin
e al., 2002; Ngai & Pissa ides, 2007). These gi e he message om hei analysis ha imp o e-
men s in ag icul u al p oduc i i y can has en indus ializa ion. Combining bo h mechanisms,
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 2 o 16
some models o explain he s uc u al ans o ma ion a e cons uc ed by schola s like Caselli
and Coleman (2001), Bue a and Kaboski (2009), Boppa (2014), He endo e al. (2014), and
Comin e al. (2015). These s udies a emp o in es iga e he de e minan s o economy-wide
s uc u al ans o ma ion by using c oss-coun y da a. As o he egional le el, he s uc u al
change in a eas also bases on he imp o emen in ag icul u al p oduc i i y (Balisacan e al.,
2011; Gollin, 2018; Hazell e al., 2007) o inc ease in income (Ba e e al., 2001; Haggblade
e al., 2010; Hossain, 2004). Howe e , he e a e exis ences o unequal de elopmen in di e en
a eas wi h any coun y, which a e known as ei he u ban/co e o u al/pe iphe y. I combines
popula ion size and popula ion densi y h esholds o cap u e he ull se lemen hie a chy.
The e o e, he de e minan s o s uc u al change o each a ea could ha e di e en o igins o
cha ac e is ics.
2.2. Regional linkages
F om he egional linkage pe spec i es, in his amous esea ch, he F ench economis F ancois
Pe oux in oduced he g ow h pole heo y o heo y o pola ized de elopmen (Pe oux, 1955). He
a gues ha de elopmen is unbalanced; i does no appea e e ywhe e all a once bu appea s in
poin s o de elopmen poles wi h a iable in ensi ies and sp eads along di e se channels and wi h
a ying e minal e ec s o he whole o he economy. Also, in he same way, F iedman (1966) c ea es
so-called heo ies o une en de elopmen in he co e-pe iphe y ela ionship in which he co e
domina es, whils he pe iphe y is dependen . He ies o ep esen he egional space economy
ha expe iences ou s ages, om disc e e equilib ium, agg ega ed non-equilib ium, o a di used
s age, and ne wo k equilib ium, which co esponds o p e-indus ial, ansi ional, indus ial, and pos -
indus ial s ages, espec i ely. Along wi h egional de elopmen desc ip ion, he nea ly simul aneous
publica ions o wo schola s: Hi schman (1958) and My dal (1957), a gued ha he cen e a ec s he
su ounding a eas nega i ely and posi i ely. Hi schman’s “ ickling down” e ec s (concep ually
analogous o My dal’s sp ead e ec s) a e posi i e e ec s, which a e he inc ease o cen e ’s pu -
chases and in es men s in he nea by a eas and he abso p ion o he unde employed in some o he
nea by a eas by he cen e , he eby inc easing pe capi a incomes in he su ounding a eas. In
con as , Hi schman’s pola iza ion e ec s (o backwash e ec s espec i ely in My dal’s e ms) a e
he nega i e e ec s ha include mig a ion om he neighbo ing a eas o he cen e , especially o he
mo e skilled and ained wo ke s, and weak p oduc ion in he ou lying a ea, caused by supe io cen e
compe i ion. In de eloped coun ies, i is well es ablished ha u ban cen e s a e engines o egional
g ow h (Be degué e al., 2015; Pa idge e al., 2007; Wu & Gopina h, 2008). Speci ically, Douglass
(1998) and Tacoli (2003) sugges ed ha u al de elopmen is linked o u ban unc ions and oles
h ough a se o lows: people, p oduc ion, commodi ies, money, and in o ma ion be ween u al and
u ban a eas. Also, a la ge numbe o s udies indica e ha s onge u al–u ban linkages could also
play a c ucial ole in po e y educ ion in de eloping coun ies (Akkoyunlu, 2015; Cali & Menon, 2013;
Ch is iaensen & Todo, 2014). Acco ding o hese au ho s, he egional linkages play a c ucial ole in
he de elopmen bo h in he u ban co e and in he u al su oundings. Especially, he u ban is
conside ed as he o igins o change mo i a ion, and i a ec s u al a eas in some di e en ways.
2.3. Hypo hesis de elopmen s
As men ioned, he in es iga ion o economy-wide s uc u al change can igno e he ela ionship
be ween dicho omy a eas because di e en a eas also belong o he coun y’s e i o y. Howe e ,
as o sepa a ed a eas, i he analyses igno e he egional linkages, hey may lead o misunde -
s anding abou o igins and he ole o de e minan s. Wi h dicho omy a eas wi hin he coun y,
me opolises can be conside ed as co es, and p o inces a e pe iphe ies. In his sec ion, some
hypo heses o p o incial s uc u al change based on egional linkages a e de eloped. Following
p e ious s udies, he main mechanisms o s uc u al change a e inc easing p oduc i i y o income;
he e o e, any sou ce a ec ing p oduc i i y o income will lead o s uc u al ans o ma ion. The
hypo hesis de elopmen s below will be p oposed based on he egional linkages which conside
he ole o u ban a eas in he u al s uc u al ans o ma ion.
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 3 o 16

2.3.1. Des ina ion o mig a ion and s a -poin o emi ances
The low o labo and money exis s hand in hand, and hey a e usually known as mig a ion and
emi ances. The di ec ions o hem a e opposi e; he ou -mig a ion om u al o u ban will lead he
emi ances o mo e om u ban o u al in whe e mig an s’ household li e (G ay, 2009; Y. Lu, 2013;
McCa hy e al., 2006; Mob and, 2012). Labo mig a ion be ween u al and u ban a eas has become
he co e impe us o u al change especially, ag icul u al ans o ma ion in adi ional a ming a eas
(Caul ield e al., 2019; Food and Ag icul u e O ganiza ion o he Uni ed Na ions, 2017; Ge e al., 2020;
Milbou ne & Ki chen, 2014). Di ec ly, mig a ion a ec s u al s uc u al change in he o m o losing
labo in ag icul u al ac i i ies, leading o ag icul u al p oduc i i y declines (Hussain e al., 2016, 2018;
Shi, 2018; Taylo & Cas elhano, 2016). Indi ec ly, mig a ion con ibu es signi ican ly o u al s uc u al
change h ough emi ances, which is he main e ec (Ajae o & Onokala, 2013; G ay & Bilsbo ow,
2014). Remi ances o mig an s inc ease he u al household’s income (D. L. Nguyen e al., 2017;
Sama a unge e al., 2020), complemen he de iciency o money in he u al household, which is used
o in es in inc easing he ag icul u al p oduc i i y by using mo e o pes icides, chemical e ilize s,
applying new echnologies (Caul ield e al., 2019); ha educes he alue o labo , hus emo ing labo
om ag icul u e (Bhanda i & Ghimi e, 2016) o inc ease he consump ion. Almos emi ance’s
expendi u e is used o ood, clo hing, heal h ca e, educa ion bu he hie a chy o expendi u e depend
on he household’s cha ac e is ics (Sama a unge e al., 2020; D. L. Nguyen e al., 2017; Thapa &
Acha ya, 2017; Ga ip, 2014; Sikde & Ballis, 2013; Adams & Cuecuecha, 2013). The inc ease o non-
ag icul u al p oduc demand b ings a good oppo uni y o u al indus ies and se ices (D. L. Nguyen
e al., 2017). While lows o labo and money ha e bo h posi i e and nega i e e ec s on u al a eas
and u al households, he p e ious s udies show ha loss in labo in ag icul u e is compensa ed by
inc eased access o money (McCa hy e al., 2006; Taylo & Cas elhano, 2016) hus any ac o s which
p omo e he mig a ion is p oposed as posi i e e ec o u al ans o ma ion. As o he cause o u al-
u ban mig a ion, he mo i a ion o u al-u ban mig an s has o en been analyzed unde he push-
pull heo y (Cho e al., 2019; L. D. Nguyen e al., 2015; Ge e al., 2020; Ho mann e al., 2019). He e, pull
ac o s a e social, economic, poli ical, o en i onmen al incen i es in he u ban a ea, while push
ac o s a e incen i es in he u al a ea ha o ce people o ou -mig a e. Howe e , in his pape ’s
scope, which analyses he ole o u ban a ea in u al s uc u al change, he pull ac o s a e ocused.
F om he pull ac o s iewpoin , social and economic oppo uni ies a e he p incipal. Job oppo uni ies
wi h high income, be e educa ion, and li ing condi ions (Cho e al., 2019; L. D. Nguyen e al., 2015;
Ho mann e al., 2019; Mamgain & Reddy, 2017). Some p e ious esea ches y o sepa a e he
impac s om mig a ion and emi ances; howe e , in eal li e, he ac o s shaping mig a ion also
shape emi ances’ dis ibu ion and po en ial impac s. This is also wha makes s udying sepa a ed
emi ance o mig a ion impac s so complica ed (Taylo & Cas elhano, 2016). To a oid he endo-
genei y phenomena in models and es ima e he o e all e ec s o mig a ion and emi ance, his
pape does no sepa a e each e ec and uses he hypo heses based on mig a ion easons because
he e can be no mig an emi ances wi hou mig a ion. Syn hesizing he abo e a gumen s, I p opose
he ollowing hypo hesizes:
H1: Mon hly a e age income pe capi a in me opolises ha e a posi i e and signi ican in luence on
he p o incial ans o ma ion
H2: The a io o a quali ied eache and high deg ee o o al eache s o gene al educa ion in
me opolises has a posi i e and signi ican in luence on p o incial ans o ma ion.
H3: The a io o pos g adua e heal h s a o o al heal h s a s in hospi als in me opolises has
a posi i e and signi ican in luence on he p o incial ans o ma ion.
2.3.2. Expansion o land usage
A la ge popula ion cha ac e izes u ban a eas, and apid u ban popula ion g ow h has led o inc eas-
ing demand o u ban land, pa icula ly o housing and o o he a ious u ban uses (Aguila e al.,
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 4 o 16
2003). U ban expansion enc oaches on ex ensi e a mland a eas and nega i ely impac s ag icul u al
landscape pa e ns, a decline in ag icul u al land-use in ensi y (Jiang e al., 2013; Su e al., 2014; Yu
e al., 2019). Combining wi h emi ance e ec s, u al-u ban mig a ion p omo es hei c opland
abandonmen (C. Lu, 2020; Lo enzen e al., 2020). The con e sion o ag icul u al land o u ban uses
leads o apid ans o ma ions in u al a eas’ ag icul u al p oduc ion (Thuo, 2013). As an u ban
expansion, hei demand o su ounding u al land g ows, gi ing ise o specula ion and pu ing
upwa d p essu e on land p ices (Diao, Magalhaes e al., 2019). This could inc ease he oppo uni y
cos s o engaging in ag icul u e in hese a eas ela i e o non- a m ac i i ies (Cali & Menon, 2013) and
lead households o en e he u al non- a m sec o (Cobbinah e al., 2015).
Howe e , he p ima y o which is popula ion inc ease h ough na u al g ow h and immig a ion
(Thuo, 2013), and some s udies ha e shown sh eds o e idence o u al-u ban mig a ion on
a mland usage in u al (Caul ield e al., 2019; Ge e al., 2020; Qin & Liao, 2016). The e o e, o
es ima e he ole o u ban in u al ans o ma ion h ough expansion and emo e he endogenei y
o mig a ion, he ins umen a iable is u ban special land.
Hence, he ou h hypo hesis is p oposed as he ollowing:
H4: The a io o land used in manu ac u ed pu pose o o al a eas o land in me opolises has
a posi i e and signi ican in luence on he p o incial ans o ma ion.
2.3.3. Ma ke o goods and se ices
U ban a eas ha e h ee ca ego ies o unc ions: ma ke ing, p oduc ion, and se ice unc ions (O suka,
2007). Th ough inc easing u ban demand along wi h ag icul u al g ow h ha aises incomes o u al
households, ag icul u al consump ion linkages lead o he de elopmen o he u al non- a m econ-
omy, pa icula ly h ough inc eases in in o mal ade and local ood p ocessing (Ch is iaensen, 2007;
Haggblade e al., 1989; O suka, 2007). Also, u ban consume s ela e he demand change o di e si ied
die , including ui s, ege ables, dai y, and mea , which c ea es oppo uni ies along wi h he p o-
cessed oods (Rod ik, 2016). To analyze he independen e ec s o me opolises’ cha ac e is ics,
which a e ma ke oles o p o inces, his s udy emo es he e ec s o mig a ion by using he da a
o he me opolises’ popula ion wi hou mig a ion as he explana o y a iable.
Thus, he i h hypo hesis is p oposed as he ollowing:
H5: The popula ion wi hou mig a ion in me opolises has a posi i e and signi ican in luence on he
p o incial ans o ma ion.
2.3.4. Hubs o in o ma ion and knowledge
Flows o in o ma ion be ween u al and u ban a eas include in o ma ion on ma ke s, om p ice
luc ua ions o consume p e e ences, in o ma ion on employmen oppo uni ies o po en ial
mig an s in bo h u ban and u al a eas (Habi a , 2017; Ha che , 2017; Sie chiping e al., 2014), and
he sha ing o knowledge and echnology be ween he wo a eas (S i as a a & Shaw, 2016). These
lows p o ide da a ha a e ied o helping a me s imp o e hei p oduc i i y, yields, and p o i abili y
du ing he cou se o hei no mal business o g owing ag icul u al p oduce, such as wea he upda es,
c isis and isk managemen in o ma ion (Ajani & Agwu, 2012; Mille e al., 2013) ha a e acqui ed
h ough adio and ele ision b oadcas s and in o ma ion cen e s a e u ban a eas (Wa enbach e al.,
2005). Wi h lows o in o ma ion abou he demand in u ban a eas, households in u al a eas can
access imely and necessa y in o ma ion ha es ic s selling hei ha es s below ai alue and
p edic s he ime o sell p oduc s a a high p ice (Mille e al., 2013). Any ele an ag icul u al
in o ma ion ha a me s can apply o hei a ms o help hem make in o med decisions abou hei
a ming en e p ises could inc ease ag icul u al p oduc i i y and income (Ajani, 2014; Chapman &
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 5 o 16
Slaymake , 2002). Besides, u ban a eas as “ he engines o g ow h and hubs o c ea i i y and inno a-
ion” (Li e al., 2019), and hey p o ide a a o able en i onmen o knowledge di usion (Glaese e al.,
1992). When echnology change in ag icul u e is s ongly labo -sa ing, like he case, gene ically
enginee ed plan s c ea e mo e c op yields, i can os e indus ializa ion (Bus os e al., 2016).
In o ma ion and communica ion echnologies (ICT) a e powe ul ools, especially he In e ne ,
which people use o sha e, dis ibu e, ga he in o ma ion, and communica e h ough compu e s and
compu e ne wo ks (Biggs, 2003). The e o e, he le el o using he in e ne in me opolises is chosen as
he explana o y a iable ha indica es he ole o me opolises as hubs o in o ma ion and knowledge.
And, he six h hypo hesis is p oposed as he ollowing:
H6: The a io o in e ne subsc ibe s o e he o al popula ion in me opolises has a posi i e and
signi ican in luence on p o incial ans o ma ion.
Building on exis ing li e a u e and empi ical e idence, my esea ch amewo k assumes ha he
economic s uc u al ans o ma ion is de e mined by a a ie y o ac o s ela ed o me opolises
(Figu e 1).
3. Me hodologies and da a
3.1. Me hodology
This pape applies desc ip i e s a is ics o da a o me opolises and p o inces o p o ide insigh
in o me opolises’ cha ac e is ics and changes in p o incial s uc u e. Fu he mo e, panel da a ha
p o ide in o ma ion on indi idual beha io , bo h ac oss indi iduals and o e ime, a e used o
analyze he ela ionship be ween he me opolises’ cha ac e is ics and p o incial ans o ma ion.
The panel da a include he in o ma ion o all 63 p o inces in Vie nam in he pe iod om 2015 o
2018. Because me opolises a ec p o incial ans o ma ion h ough many ac o s ha ha e
complex ela ionships, his pape uses some ins umen a iables ha emo e he models’ endo-
genei y phenomena. The simples ype o panel da a models is a pooled OLS model, which has
been gi en he o m in Equa ion (1):
NAsi ¼β0þXi βþμi ð1Þ
Whe e: NAsi is he non-ag icul u al sha e o p o ince i 2(1, 2,.,63) in yea 2(2015,.,2018). β0 is
he in e cep . X is a ma ix o p edic o a iables which a e desc ibed in Table 1.β is a ec o o
eg ession coe icien s o be es ima ed.μ is a andom dis u bance e m wi h a mean o 0. In his
model, he coe icien s a e es ima ed by OLS wi h a sample o 252 (i* ) obse a ions, no ecognizing
he panel s uc u e o da a. This model assumes homoskedas ici y and no co ela ion be ween
p o ince i’s obse a ions in di e en pe iods (o be ween di e en p o inces in he same pe iod).
Howe e , his is he mos es ic i e panel da a model and is no used much in he li e a u e because
each p o ince has speci ic cha ac e is ics ha may o may no in luence he p edic o a iables.
The e o e, wo o he ypes o panel da a models wi h a ea men o he indi idual e ec a e also
employed: Fixed e ec s model and Random e ec s model (C oissan & Millo, 2008; Hausman, 1978).
These models will help o cap u e p o ince-speci ic he e ogenei y i he e is e idence o signi ican
di e ences ac oss p o inces. Equa ion (2) desc ibes he Fixed e ec s model:
NAsi ¼αiþXi βþμi ð2Þ
whe e: αi(i = 1,2, . . ., 63) is he unknown in e cep o each p o ince (63 p o ince-speci ic in e cep s).
Fixed e ec model con ols he impac o he p o incial cha ac e is ics on p edic o a iables by
cap u ing hese cha ac e is ics in in e cep . On he o he hand, unlike he ixed e ec s model, he
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 6 o 16
a ia ion ac oss p o inces in andom e ec s model is assumed o be andom and unco ela ed wi h
he p edic o a iables included in he model. Equa ion (3) indica es he andom e ec s model.
NAsi ¼αþXi βþωiþμi ð3Þ
Whe e α is cons an e m, ωi is andom e o e m wi h mean 0 and a iance (σ2
ω). To choose he
sui able model, his pape also implemen s he es s. The F es and B eusch-Pagan Lag ange mul iplie
es a e used o es ing panel e ec based on he pooling model’s esul (B eusch & Pagan, 1980), while
Table 1. Desc ip ion o key a iables
Va iable Desc ip ion
Dependen a iable
NAs Value added sha e in Non-Ag icul u e o P o ince (%)
Independen a iable
Income Mon hly a e age income pe capi a in me opolis
(Million VND)
QuaTeache The a io o quali ied eache and high deg ee o o al
eache s o gene al educa ion in me opolis (%)
QuaHeal h The a io o pos g adua e heal h s a s o o al heal h
s a s in hospi al in me opolis (%)
LandRa e The a io o land used in manu ac u ed pu pose o
o al a eas o land in me opolis (%)
Popula ion The popula ion wi hou mig a ion in me opolis (Million
pe sons)
In e ne The a io o in e ne subsc ibe s o e o al popula ion
in me opolis (%)
Figu e 1. Resea ch amewo k
and hypo heses.
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 7 o 16
Ghana. Habi a In e na ional, 50, 120–129. h ps://
doi.o g/10.1016/j.habi a in .2015.08.002
Comin, D. A., Lashka i, D., & Mes ie i, M. (2015). S uc u al
change wi h long- un income and p ice e ec s (No.
w21595). Na ional Bu eau o Economic Resea ch.
C oissan , Y., & Millo, G. (2008). Panel da a econome ics in
R : The PLM package. Jou nal o S a is ical So wa e, 27
(2), 2. h ps://doi.o g/10.18637/jss. 027.i02
Da ies, S. (2011). Regional esilience in he 2008–2010
down u n: Compa a i e e idence om Eu opean coun-
ies. Camb idge Jou nal o Regions, Economy and
Socie y, 4(3), 369–382. h ps://doi.o g/10.1093/cj es/
s 019
Diao, X., Magalhaes, E., & Sil e , J. (2019). Ci ies and u al
ans o ma ion: A spa ial analysis o u al li elihoods
in Ghana. Wo ld De elopmen , 121, 141–157. h ps://
doi.o g/10.1016/j.wo ldde .2019.05.001
Diao, X., McMillan, M., & Rod ik, D. (2019). The ecen
g ow h boom inde eloping economies:
A s uc u al-change pe spec i e. In Nissanke, M.
and Ocampo, J. A. (Eds.), The Palg a e handbook o
de elopmen economics (pp. 281–334). Palg a e
Macmillan.
Douglass, M. (1998). A egional ne wo k s a egy o
ecip ocal u al-u ban linkages: An agenda o policy
esea ch wi h e e ence o Indonesia. Thi d Wo ld
Planning Re iew, 20(1), 1–33. h ps://doi.o g/10.3828/
wp .20.1. 2827602h503k5j6
Dua e, M., & Res uccia, D. (2010). The ole o he s uc-
u al ans o ma ion in agg ega e p oduc i i y. The
Qua e ly Jou nal o Economics, 125(1), 129–173.
h ps://doi.o g/10.1162/qjec.2010.125.1.129
E ans, H. E. (1990). Ru al–u ban linkages and s uc u al
ans o ma ion. Discussion pape (Vol. 71).
In as uc u e and U ban De elopmen Depa men ,
Wo ld Bank.
Foellmi, R., & Zweimülle , J. (2008). S uc u al change,
Engel’s consump ion cycles and Kaldo ’s ac s o
economic g ow h. Jou nal o Mone a y Economics, 55
(7), 1317–1328. h ps://doi.o g/10.1016/j.jmoneco.
2008.09.001
Food and Ag icul u e O ganiza ion o he Uni ed Na ions.
(2017) . The s a e o ood and ag icul u e: Le e aging
ood sys ems o inclusi e u al ans o ma ion.
F iedman, J. (1966). Regional de elopmen policy: A case
s udy o Venezuela. The MIT P ess.
Ga ip, F. (2014). The impac o mig a ion and emi ances
on weal h accumula ion and dis ibu ion in u al
Thailand. Demog aphy, 51(2), 673–698. h ps://doi.
o g/10.1007/s13524-013-0260-y
Ge, D., Long, H., Qiao, W., Wang, Z., Sun, D., & Yang, R.
(2020). E ec s o u al–u ban mig a ion on ag icul-
u al ans o ma ion: A case o Yucheng ci y, China.
Jou nal o Ru al S udies, 76, 85–95. h ps://doi.o g/10.
1016/j.j u s ud.2020.04.010
Glaese , E. L., Kallal, H. D., Scheinkman, J. A., & Shlei e , A.
(1992). G ow h in ci ies. Jou nal o Poli ical Economy,
100(6), 1126–1152. h ps://doi.o g/10.1086/261856
Gollin, D. (2018). Ru al-U ban linkages and ic ions.
Ox o d Uni e si y. Wo ld Bank U baniza ion
Con e ence.
Gollin, D., Pa en e, S., & Roge son, R. (2002). The ole o
ag icul u e in de elopmen . Ame ican Economic
Re iew, 92(2), 160–164. h ps://doi.o g/10.1257/
000282802320189177
G ay, C. L. (2009). Ru al ou -mig a ion and smallholde
ag icul u e in he sou he n Ecuado ian Andes.
Popula ion and En i onmen , 30(4), 193–217. h ps://
doi.o g/10.1007/s11111-009-0081-5
G ay, C. L., & Bilsbo ow, R. E. (2014). Consequences o
ou -mig a ion o land use in u al Ecuado . Land Use
Policy, 36, 182–191. h ps://doi.o g/10.1016/j.landuse
pol.2013.07.006
G oo , S., Mohlmann, J. L., Ga e sen, J. H., & De
G oo , H. L. (2011). The c isis sensi i i y o Eu opean
coun ies and egions: S ylised ac s and spa ial
he e ogenei y. Camb idge Jou nal o Regions,
Economy and Socie y, 4(3), 437–456. h ps://doi.o g/
10.1093/cj es/ s 024
Habi a , U. N. (2017). Implemen ing he new u ban
agenda by s eng hening u ban- u al linkages. In
Lea e no one and no space behind; un habi a .
Nai obi, kenya
Haggblade, S., Hazell, P., & B own, J. (1989). Fa m–non-
a m linkages in u al subSaha an A ica. Wo ld
De elopmen , 17(8), 1173–1201. h ps://doi.o g/10.
1016/0305-750X(89)90232-5
Haggblade, S., Hazell, P., & Rea don, T. (2010). The u al
non- a m economy: P ospec s o g ow h and po e y
educ ion. Wo ld De elopmen , 38(10), 1429–1441.
h ps://doi.o g/10.1016/j.wo ldde .2009.06.008
Ha che , C. (2017). Ru al-u ban linkages in he con ex o
sus ainable de elopmen and en i onmen al
p o ec ion. UNCCD Global Land Ou look, Wo king
Pape , 1-25.
Hausman, J. A. (1978). Speci ica ion es s in
econome ics. Econome ica: Jou nal o he
Econome ic Socie y, 46(6), 1251–1271. h ps://doi.
o g/10.2307/1913827
Hazell, P., Haggblade, S., & Rea don, T. (2007). S uc u al
ans o ma ion o he u al non a m economy. In
S. Haggblade, P. Hazell, & T. Rea don (Eds.),
T ans o ming he u al non a m economy – oppo u-
ni ies and h ea s in he de eloping wo ld (pp. 83-98).
John Hopkins Uni e si y P ess.
He endo , B., Roge son, R., & Valen inyi, A. (2014).
G ow h and s uc u al ans o ma ion. In Aghion, P.
and Du lau , S. N. (Eds.), Handbook o economic
g ow h (Vol. 2, pp. 855–941). Else ie .
Hi schman, A. O. (1958). The s a egy o de elopmen .
Yale Uni e si y P ess.
Ho mann, E. M., Kone ding, V., Nau iyal, S., Bue ke , A., &
Wal e , W. D. (2019). Is he push-pull pa adigm use-
ul o explain u al-u ban mig a ion? A case s udy in
U a akhand, India. PloS One, 14(4), e0214511.
h ps://doi.o g/10.1371/jou nal.pone.0214511
Hossain, M. (2004). Ru al non- a m economy in
Bangladesh: A iew om household su eys (No. 40).
Cen e o Policy Dialogue (CPD).
Huang, K., Liu, Y., Yong, Z., & Liu, S. (2019). Rela ionships
be ween labo mig a ion and c opland abandonmen
in u al China om he pe spec i e o illage ypes. In
Land use policy., 88, 104–164
Hussain, A., Rasul, G., Mahapa a, B., & Tuladha , S. (2016).
Household ood secu i y in he ace o clima e change in
he Hindu-Kush Himalayan egion. Food Secu i y, 8(5),
921–937. h ps://doi.o g/10.1007/s12571-016-0607-5
Hussain, A., Rasul, G., Mahapa a, B., Wahid, S., &
Tuladha , S. (2018). Clima e change-induced haza ds
and local adap a ions in ag icul u e: A s udy om Koshi
i e basin, Nepal. Na u al Haza ds, 91(3), 1365–1383.
h ps://doi.o g/10.1007/s11069-018-3187-1
Jiang, L., Deng, X., & Se o, K. C. (2013). The impac o
u ban expansion on ag icul u al land use in ensi y in
China. Land Use Policy, 35, 33–39. h ps://doi.o g/10.
1016/j.landusepol.2013.04.011
Kongsamu , P., Rebelo, S., & Xie, D. (2001). Beyond balanced
g ow h. The Re iew o Economic S udies, 68(4),
869–882. h ps://doi.o g/10.1111/1467-937X.00193
Kuzne s, S. (1973). Mode n economic g ow h: Findings
and e lec ions. The Ame ican Economic Re iew, 63
(3), 247–258.
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 14 o 16

Li, C., Rausell, P., & Tosoni, I. (2019). Ci ies as enable s o
inno a ion. In Concilio, G. and Tosoni, I. (Eds.),
Inno a ion capaci y and he ci y (pp. 43–60). Sp inge .
Loayza, N., & Radda z, C. (2010). The composi ion o
g ow h ma e s o po e y alle ia ion. Jou nal o
De elopmen Economics, 93(1), 137–151. h ps://doi.
o g/10.1016/j.jde eco.2009.03.008
Lo enzen, M., O ozco-Ramí ez, Q., Ramí ez-San iago, R., &
Ga za, G. G. (2020). Mig a ion, socioeconomic ans-
o ma ion, and land-use change in Mexico’s Mix eca
Al a: Lessons o o es ansi ion heo y. Land Use
Policy, 95, 104580. h ps://doi.o g/10.1016/j.landuse
pol.2020.104580
Lu, C. (2020). Does household labo e mig a ion p omo e
a mland abandonmen in China? G ow h and
Change, 51(4), 1804–1836. h ps://doi.o g/10.1111/
g ow.12431
Lu, Y. (2013). Household mig a ion, emi ances and hei
impac on heal h in Indonesia. In e na ional
Mig a ion, 51(s1), e202–e215. h ps://doi.o g/10.
1111/j.1468-2435.2012.00761.x
Mamgain, R. P., & Reddy, D. N. (2017). Ou -mig a ion om
he hill egion o U a akhand: Magni ude, chal-
lenges, and policy op ions. In Reddy, D. N. and Sa ap,
K. (Eds.), Ru al labou mobili y in imes o s uc u al
ans o ma ion (pp. 209–235). Singapo e: Palg a e
Macmillan.
McCa hy, N., Ca le o, C., Da is, B., & Mal soglou, I.
(2006). Assessing he impac o massi e
ou -mig a ion on ag icul u e. Wo king Pape No. 06-
14. Food and Ag icul u e O ganiza ion o he Uni ed
Na ions.
McMillan, M., & Headey, D. (2014). In oduc ion –
Unde s anding s uc u al ans o ma ion in A ica.
Wo ld De elopmen , 63, 1–10. h ps://doi.o g/10.
1016/j.wo ldde .2014.02.007
Milbou ne, P., & Ki chen, L. (2014). Ru al mobili ies:
Connec ing mo emen and ixi y in u al places.
Jou nal o Ru al S udies, 34, 326–336. h ps://doi.o g/
10.1016/j.j u s ud.2014.01.004
Mille , C., Sa oja, V. N., & Linde , C. (2013). ICT uses o
inclusi e ag icul u al alue chains. In Food and ag i-
cul u e o ganiza ion o he uni ed na ions. Rome.
Mob and, E. (2012). Re e se emi ances: In e nal mig a-
ion and u al- o-u ban emi ances in indus ialising
Sou h Ko ea. Jou nal o E hnic and Mig a ion S udies,
38(3), 389–411. h ps://doi.o g/10.1080/1369183X.
2012.658544
My dal, G. (1957). Economic heo y and unde de eloped
egions. Duckwo h.
Ngai, L. R., & Pissa ides, C. A. (2007). S uc u al change in
a mul isec o model o g ow h. Ame ican Economic
Re iew, 97(1), 429–443. h ps://doi.o g/10.1257/ae .97.
1.429
Nguyen, D. L., G o e, U., & Nguyen, T. T. (2017). Mig a ion
and u al household expendi u es: A case s udy om
Vie nam. Economic Analysis and Policy, 56, 163–175.
h ps://doi.o g/10.1016/j.eap.2017.09.001
Nguyen, L. D., Raabe, K., & G o e, U. (2015). Ru al–u ban
mig a ion, household ulne abili y, and wel a e in
Vie nam. Wo ld De elopmen , 71, 79–93. h ps://doi.
o g/10.1016/j.wo ldde .2013.11.002
O suka, K. (2007). The u al indus ial ansi ion in Eas
Asia: In luences and implica ions. In S. Haggblade,
P. Hazell, & T. Rea don (Eds.), T ans o ming he u al
non a m economy – oppo uni ies and h ea s in he
de eloping wo ld (pp. 216-233). John Hopkins
Uni e si y P ess.
Pa idge, M., Ol e , M. R., & Alasia, A. (2007). Canadian
ci ies as egional engines o g ow h: Agglome a ion
and ameni ies. Canadian Jou nal o Economics/Re ue
Canadienne D’économique, 40(1), 39–68. h ps://doi.
o g/10.1111/j.1365-2966.2007.00399.x
Pe oux, F. (1955). A no e on he no ion o g ow h pole.
Applied Economy, 1(2), 307–320.
Qin, H., & Liao, T. F. (2016). Labo ou -mig a ion and ag i-
cul u al change in u al China: A sys ema ic e iew and
me a-analysis. Jou nal o Ru al S udies, 47, 533–541.
h ps://doi.o g/10.1016/j.j u s ud.2016.06.020
Rod ik, D. (2016). P ema u e deindus ializa ion. Jou nal
o Economic G ow h, 21(1), 1–33. h ps://doi.o g/10.
1007/s10887-015-9122-3
Sama a unge, R., Kuma a, A. S., & Abeyseke a, L. (2020).
Whe e do emi ances go in household consump ion?
Empi ical e idence om S i Lanka-Wide Mic o-da a.
In e na ional Mig a ion, 58(5), 194–219. h ps://doi.
o g/10.1111/imig.12697
Shi, X. (2018). He e ogeneous e ec s o u al-u ban
mig a ion on ag icul u al p oduc i i y. China
Ag icul u al Economic Re iew, 10(3), 482–497. h ps://
doi.o g/10.1108/CAER-10-2017-0193
Sie chiping, R., Kago, J., Zhang, X. Q., Augus inus, C., &
Tu s, R. (2014). Role o u ban– u al linkages in p o-
mo ing sus ainable u baniza ion. En i onmen and
U baniza ion Asia, 5(2), 219–234. h ps://doi.o g/10.
1177/0975425315577170
Sikde , M. J. U., & Ballis, P. H. (2013). Remi ances and li e
chances: A s udy o mig an households in u al
Bangladesh. Mig a ion and De elopmen , 2(2),
261–285. h ps://doi.o g/10.1080/21632324.2013.
814322
S i as a a, N., & Shaw, R. (2016). Enhancing ci y esilience
h ough u ban- u al linkages. In Shaw, R., A a-u -
Rahman, Su jan, A., and Pa in, G. A., (Eds.), U ban
disas e s and esilience in Asia (pp. 113–122).
Bu e wo h-Heinemann.
Su, S., Ma, X., & Xiao, R. (2014). Ag icul u al landscape
pa e n changes in esponse o u baniza ion a
eco egional scale. Ecological Indica o s, 40, 10–18.
h ps://doi.o g/10.1016/j.ecolind.2013.12.013
Tacoli, C. (2003). The links be ween u ban and u al
de elopmen . En i onmen and U baniza ion, 15(1),
3–12. h ps://doi.o g/10.1177/095624780301500111
Taylo , J. E., & Cas elhano, M. (2016). Economic impac s o
mig an emi ances. In In e na ional handbook o
mig a ion and popula ion dis ibu ion (pp. 525–541).
Thapa, S., & Acha ya, S. (2017). Remi ances and house-
hold expendi u e in Nepal: E idence om
c oss-sec ion da a. Economies, 5(2), 1–16. h ps://doi.
o g/10.3390/economies5020016
Thuo, A. D. M. (2013). Explo ing land de elopmen
dynamics in u al-u ban inges: A e lec ion on why
ag icul u e is being squeezed ou by u ban land uses
in he Nai obi Ru al–U ban inge? In e na ional
Jou nal o Ru al Managemen , 9(2), 105–134. h ps://
doi.o g/10.1177/0973005213499088
To es-Reyna, O. (2010). Ge ing s a ed in ixed/ andom
e ec s models using R. Re ie ed om: h p://www.
p ince on.edu/~o o es/Panel101R.pd .
Van Aswegen, M., & Re ie , F. P. (2020). The ole o eco-
nomic sec o al s uc u e as a policy mechanism
owa ds mo e esilien pe iphe al egions: The case
o Sou h A ica. GeoJou nal, (2020), 1-21. h ps://doi.
o g/10.1007/s10708-020-10233-0
Wa enbach, H., Bishop-Samb ook, C., & Dixon, J. (2005).
Imp o ing in o ma ion lows o he u al communi y.
Ag icul u al Managemen , Ma ke ing and Finance
Occasional Pape (FAO)
Woold idge, J. M. (2010). Econome ic analysis o c oss
sec ion and panel da a. MIT p ess.
Wu, J., & Gopina h, M. (2008). Wha causes spa ial a ia ions in
economic de elopmen in he Uni ed S a es? Ame ican
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 15 o 16
Jou nal o Ag icul u al Economics, 90(2), 392–408. h ps://
doi.o g/10.1111/j.1467-8276.2007.01126.x
Yu, M., Yang, Y., Chen, F., Zhu, F., Qu, J., & Zhang, S. (2019).
Response o ag icul u al mul i unc ionali y o
a mland loss unde apidly u banizing p ocesses in
Yang ze i e del a, China. Science o he To al
En i onmen , 666, 1–11. h ps://doi.o g/10.1016/j.sci
o en .2019.02.226
© 2021 The Au ho (s). This open access a icle is dis ibu ed unde a C ea i e Commons A ibu ion (CC-BY) 4.0 license.
You a e ee o:
Sha e — copy and edis ibu e he ma e ial in any medium o o ma .
Adap — emix, ans o m, and build upon he ma e ial o any pu pose, e en comme cially.
The licenso canno e oke hese eedoms as long as you ollow he license e ms.
Unde he ollowing e ms:
A ibu ion — You mus gi e app op ia e c edi , p o ide a link o he license, and indica e i changes we e made.
You may do so in any easonable manne , bu no in any way ha sugges s he licenso endo ses you o you use.
No addi ional es ic ions
You may no apply legal e ms o echnological measu es ha legally es ic o he s om doing any hing he license pe mi s.
Cogen Economics & Finance (ISSN: 2332-2039) is published by Cogen OA, pa o Taylo & F ancis G oup.
Publishing wi h Cogen OA ensu es:
• Immedia e, uni e sal access o you a icle on publica ion
• High isibili y and disco e abili y ia he Cogen OA websi e as well as Taylo & F ancis Online
• Download and ci a ion s a is ics o you a icle
• Rapid online publica ion
• Inpu om, and dialog wi h, expe edi o s and edi o ial boa ds
• Re en ion o ull copy igh o you a icle
• Gua an eed legacy p ese a ion o you a icle
• Discoun s and wai e s o au ho s in de eloping egions
Submi you manusc ip o a Cogen OA jou nal a www.Cogen OA.com
T uong Cong, Cogen Economics & Finance (2021), 9: 1937849
h ps://doi.o g/10.1080/23322039.2021.1937849
Page 16 o 16