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An evaluation of provincial macroeconomic performance in Vietnam

An evaluation of provincial macroeconomic performance in Vietnam. The study was targeted at developing a methodology for constructing a macroeconomic performance index at a provincial level for the first time in Vietnam based on 4 groups of measurements: Economic indicators; oriented economic indicators; socio-economic indicators; and economic - social – institutional indicators. | Journal of Economics and Development, Vol.19, No.2, August 2017, pp. 34-47 ISSN 1859 0020 An Evaluation of Provincial Macroeconomic Performance in Vietnam Le Quoc Hoi National Economics University, Vietnam Email: lequochoi.ktqd@gmail.com Pham Xuan Nam National Economics University, Vietnam Email: famxuannam@gmail.com Nguyen Anh Tuan The University of Economics and Business - Vietnam National University, Hanoi, Vietnam Email: natuanftu@gmail.com Abstract The study was targeted at developing a methodology for constructing a macroeconomic performance index at a provincial level for the first time in Vietnam based on 4 groups of measurements: (i) Economic indicators; (ii) oriented economic indicators; (iii) socio-economic indicators; and (iv) economic - social – institutional indicators. Applying the methodology to the 2011 - 2015 empirical data of all provinces in Vietnam, the research shows that the socio-economic development strategy implemented by those provinces did not provide balanced outcomes between growth and social objectives, sustainability and inclusiveness. Many provinces focused on economic growth at the cost of structural change, equality and institutional transformation. In contrast, many provinces were successful in improving equality but not growth. Those facts threaten the long-term development objectives of the provinces. Keywords: Macroeconomic performance; ISEPI model; Slack Based Model (SBM); input/ output Slack. Journal of Economics and Development 34 Vol. 19, No.2, August 2017 1. Introduction At the same time, to evaluate and compare the macroeconomic performance at the provincial level, some of the indicators will no longer be meaningful, most notably the trade balance. Therefore, the most important issue in constructing the composite index is to select the appropriate dimensions that accurately reflect the objectives that the provincial governments were pursuing. Based on the theoretical framework of Lovell (1995), Sahoo and Acharya