The Impact of Risk Management and Economic Development on Agri-Business in the Context of Vietnam
- Mai Thi Huyen , Bac Giang Agriculture and Forestry University (BAFU), Bac Giang Province, Viet Nam
- Ho Thi Hien , Nghe An University of Economics (NAUE), Vinh city, Nghe An, Viet Nam
- Tran Duc Thuan , Faculty of Economics-Management, Dong Nai Technology University (DNTU), Dong Nai province, Viet Nam
- Dao Thu Tra , Hong Duc University (HDU), Thanh Hoa Province, Viet Nam
- Nguyen Thi Luong , School of Economics, Can Tho University (CTU), Can Tho, Viet Nam
- Tran Ba Uan , Dien Bien College of Economics and Technologies (DCET), Dien Bien, Viet
- Thai Van Ha , Ha Noi University of Business and Technology (HUBT), Ha Noi, Viet Nam
- Le Thi Phuong Dung , Fisheries and Technical Economics College (FTEC), Bac Ninh, Viet Nam
Keywords:
Risk Management, Production Risk, Market Risk, Financial Risk, Economic Development, Agri-Business Growth.
Abstract
In recent times, there has been a growing demand for the development of Agribusiness worldwide, necessitating the attention of current literature and seasoned policymakers. This article investigates the influence of risk management and economic development on the expansion of Agribusiness in Vietnam. Risk management includes the management of production, market, and financial risks. The study collected data from secondary sources, such as World Development Indicators (WDI), spanning from 1996 to 2022. The article employed the non-linear autoregressive distributed lag (NARDL) approach to examine the relationships between the variables. The outcomes of the study suggest that there is a positive correlation between risk management (production, market, and financial risk management), population growth, and economic development with the growth of Agribusiness in Vietnam. The results informed policymakers in establishing policies to promote Agribusiness through risk management and economic development.