Building on Vietnam’s Recent COVID-19 Success: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy
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Data Production and Methods Unit, Development Data Group, World Bank, 1818 H St NW, Washington, DC 20433, USA
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Faculty of Economics, National Economics University (NEU), Hanoi 11616, Vietnam
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Finance and Banking Department, University of Economics and Business-Vietnam National University, 144 Xuan Thuy Str, Cau Giay Dist, Hanoi 10000, Vietnam
*
Author to whom correspondence should be addressed.
Academic Editor: Antonella Petrillo
Sustainability 2021, 13(19), 10664; https://doi.org/10.3390/su131910664
Received: 17 June 2021
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Revised: 27 August 2021
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Accepted: 13 September 2021
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Published: 25 September 2021
(This article belongs to the Special Issue Social Resilience and Household Economics: Perspectives for Sustainability)
Despite the harmful effects of the COVID-19 pandemic on income and employment loss around the globe, hardly any formal study exists on household finance and future economic expectations in poorer countries. We offer an early study that aims to fill this gap from the labor market angle. We implemented and analyzed a new web-based rapid assessment survey immediately after the removal of lockdown measures in Vietnam, a low-middle income country that has received widespread recognition for its successful fight against the pandemic. We find that having a job is strongly and positively associated with better finance and more income and savings, as well as more optimism about the resilience of the economy. Further disaggregating employment along the security dimension into different types of jobs such as self-employment and jobs with permanent and short-term contracts, we find those with permanent job contracts to have fewer job worries and better assessments for the economy. Individuals with good health tend to have more positive evaluations for their current and future finance, but there is mixed evidence for those with higher educational levels. These findings are relevant for the ongoing fight against the pandemic and post-outbreak labor policies, especially in a developing country context.
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Keywords:
COVID-19; recession; labor market; wage work; household finance; Vietnam
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MDPI and ACS Style
Dang, H.-A.H.; Giang, L.T.; Do, M.N.N. Building on Vietnam’s Recent COVID-19 Success: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy. Sustainability 2021, 13, 10664. https://doi.org/10.3390/su131910664
AMA Style
Dang H-AH, Giang LT, Do MNN. Building on Vietnam’s Recent COVID-19 Success: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy. Sustainability. 2021; 13(19):10664. https://doi.org/10.3390/su131910664
Chicago/Turabian StyleDang, Hai-Anh H., Long T. Giang, and Minh N. N. Do. 2021. "Building on Vietnam’s Recent COVID-19 Success: A Job-Focused Analysis of Individual Assessments on Their Finance and the Economy" Sustainability 13, no. 19: 10664. https://doi.org/10.3390/su131910664
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