（別紙様式６）(Attached Form 6)

学位論文の要旨（論文の内容の要旨）
Summary of the Dissertation (Summary of Dissertation Contents)
論 文 題 目Dissertation title
Essays on Financial Activities and Industrial Change: The Study Case in Vietnam
広島大学大学院国際協力研究科
Graduate School for International Development and Cooperation,
Hiroshima University
博士課程後期開発科学専攻Doctoral Program
Division of Development Science
学生番号D170255
Student ID No.
氏
名NGUYEN THI BICH NGOC
Name
Seal
As mentioned in the agenda 21 at the World Summit on Sustainable Development (WSSD), the world istargeting to promoting sustainable agriculture and rural development. In developing countries, ruraldevelopment has been considered as a key tool to alleviate the poverty.

Studies over the past decades haveprovided important information on the related issues in the rural development and poverty alleviation process.
The main purpose of this research is to study on the sustainable economic development that has been recognized
as one of the important elements in the rural development.

The specific objectives of this research were toinvestigate the economic structural change of Vietnam’s economy and examine the financial activities of small
and medium size enterprise and rural households in Vietnam.

In recent year, Vietnam’s economy has gained significant achievements in the development process.
Being one of the poor countries before the renovation, Vietnam has successfully made a transition to a middleincome country. A large and growing body of literature has emphasized that introducing or identifying someleading industries is essential for their poverty reduction and economic development. In addition, structuralchange analysis is important tool to study the economic development and growth of any countries. However,much of the literature concerns macroeconomic approach rather than industrial approach. Therefore, the firstobjective of this study is to apply the industrial approach to identify the key sectors and investigate the economic

structural change of Vietnam’s economy by using input-output analysis of Vietnam input-output tables in the
period of 2000-2015. The backward-forward linkages and decomposition approach are applied to analyze theIO tables. The major findings are used to explain the role of some subsectors as well as reveal the trend of theeconomic structural change of Vietnam’s economy.
The role of small and medium sized enterprises (SMEs) in Vietnam’s economy has been supported byvarious literatures. According to the general statistics provided by Vietnam (GSO, 2014), the contribution of415,656 Vietnamese SMEs to the state’s budget is approximately 217.5 trillion VND, accounting for 41% GDP.
In addition, SMEs in Vietnam provide jobs to 5.6 million people, accounting for 48.3% of total enterprise
employment (GSO, 2014). The importance of SMEs to the Vietnamese economy is undeniable. Nevertheless,SMEs encounter many difficulties, such as the lack of capital, skilled labor, and financing sources. Therefore,
this study conducts an empirical analysis to investigate the relationship between the capital structure as financial
leverage and investment decisions by using the latest Vietnamese SME data of 2011, 2013 and 2015.
Rural households (HHs) is one important stakeholder in the rural development process. However, rural
households often face challenges due to production constraints that hinder the improvement of their livelihood.
Previous studies suggest that rural HHs can overcome these constraints if they are organized into groups.
Acknowledging that sustainable rural development requires collaboration with local government, localorganizations and the people, this paper contributes to the literature by examining the impacts of farmers’
union membership on the production and credit volume of HHs using HH-level data from rural areas in
Vietnam. Propensity score matching was employed.
The main results of this research are summarized as follow: by using four Vietnam input-output tables
and the decomposition method, we found that agricultural sector and food sector have still remained their mainrole over 15 years. These two sectors have had bigger total output which basically came from final demandchange by consumption. In addition, textile sector has also kept higher position in total output in Vietnam
because it has been affected by final demand increase of export. On the other hand, machinery sector has rapidly
grown in the last 5 years, which was derived from not only final demand change by investment and export but

also technological change by intermediate inputs. Instead wholesale and retail sector has experienced drastic
decline in its final demand change by consumption, investment and export over the last 5 years.
By using three Vietnam SMEs data (2011, 2013 and 2015), we found a contrary result with financial
theories and previous studies that show a positive relationship between financial leverage and investment
decision, suggesting that SMEs with higher financial leverage tend to seek more investment opportunities thanSMEs with lower financial leverage. We also find that firms with higher financial leverage are more likely tochoose external financing sources than internal ones. Our results confirm that financial theories have varying
levels of applicability in the context of an emerging market, such as Vietnam.
By using the household level data from rural areas in Vietnam, we found that farmer union membershiphas significant impact on the production and credit volume of rural HHs. In particular, farmers’ union
membership HHs can obtain higher credit volume and attain more livestock production but less crop production
than nonmember HHs. Our findings suggest that the farmer’s union should enhance its activities to provide
more resource accessibility, especially with regard to financial services.
The results of this study add to the literature on rural development in Vietnam. This may help policy
makers gain better insight into the role of different stakeholders in rural development and poverty reduction
progress.

備考

論文の要旨はＡ４判用紙を使用し，4,000字以内とする。ただし，英文の場合は1,500語以内とする。
Remark: The summary of the dissertation should be written on A4-size pages and should not exceed 4,000
Japanese characters. When written in English, it should not exceed 1,500 words.