In this issue

We are pleased to introduce Volume 24, Issue 3 of the Journal of Economic Development. Over
the past years, untiring efforts have been made to enhance the Journal’s quality to satisfy
international standards, and one typical example has been recent inclusion in the Asean Citation
Index (ACI) database. This event marked a primary stage of success in the Journals’ efforts to
significantly improve its content, recorded first within the Asian region.
Specially selected for this issue are six papers concerning finance and banking, business
administration, and consumer economics, authored by prestigious researchers nationwide. These
papers, in fact, are not only covered within the Journal’s scope, but they are also believed to raise
the impact factor of the Journal.
First, using Granger causality and Persyn and Westerlund’s (2008) co-integration tests, the paper,
“Tax revenue, expenditure, and economic growth: An analysis of long-run relationships,” seeks
to examine the “long-term” relationship between tax revenue, expenditure, and economic
growth. The authors hold that the linkage between tax revenue and spending is a bi-directional
causal correlation. The application of two-step system generalized method of moments (SGMM),
additionally, helps verify that the impact of tax revenue and spending, applying to different
groups of economies, is substantial and ambiguous.
Another paper entitled “The impact of non-performing loans on bank profitability and lending
behavior: Evidence from Vietnam,” by formulating a framework as well as utilizing the
Generalized Method of Moment technique, indicates that non-performing loans have significant
and negative impacts on Vietnamese banks’ profitability and lending behavior. Other internal and
macro factors are also argued to have effects on bank profitability and lending behavior as have
been expected.
Furthermore, to understand what and how influential factors are productive of Vietnam firms’
innovation in various sectors the authors of the paper “Which are determinants of firm
innovation in Vietnam? A micro analysis” employ a dataset retrieved from the World Bank’s
survey of Vietnamese firms, and along with other quantitative methods, they conclude that direct
exporters, firm size, state ownership, email use, and competition give rise to the likelihood of
technology advancement. Foreign ownership, in addition, is negatively correlated with
innovation in various facets.
The fourth article, “Factors affecting innovation capacity in Vietnamese Southern high
technology industries,” analyzes the determinants of innovation capacity of enterprises operating
in high tech industry. By adopting both quantitative and qualitative techniques, evidence has
been accumulated of a handful of elements, such as total quality management, internal human
resources, absorptive capacity, government support, and collaboration networks with their
significant and positive effects on firms’ innovation capacity.
Significantly intended as an in-depth empirical investigation, the fourth paper, “The relationships
between big-five personality traits and the choice of luxury product attributes by Vietnamese
consumers,” sets out to shed some light on the linkages between several personality traits and
consumer luxury attributes. The author finds that extraversion, openness, and agreeableness exert
positive effects, whereas the other factors, such as conscientiousness and neuroticism, are
negatively associated with consumers’ choice of luxury attributes. Another novel contribution of
the paper is its clarification of how and why there exist connections between each of the
proposed traits and the luxury attribute preference.
Finally, the empirical study “Travel demand for metro in Ho Chi Minh City: A discrete choice
experiment analysis” discusses how citizens favor the urban metro network transportation and

and cost reduction of the trip are found to serve as the driving forces behind the stated preference.which factors affect their potential utilization of the service. time. Seat availability. Dr. which then allows us to well maintain the scope of the Journal. contribution must be made to the science of economics and business administration. Editor-in-Chief Prof. All these papers have gone through comprehensive double-blind peer review to ensure their readability in accordance with accepted standards. Su Dinh Thanh . As our top priority.