The impact of energy consumption, foreign direct investment and education on human well-being: Evidence from the Vietnamese economy

Hai Bac Dang

doi:10.46223/HCMCOUJS.econ.en.15.3.3440.2025

Abstract

This paper examines the impact of energy consumption, Foreign Direct Investment (FDI) and education on human well-being for Vietnam. To realize the aim of this research, a human well-being model was established using the Autoregressive Distributed Lag (ARDL) method to evaluate and study focused on the period 1990 - 2020. The results reveal that there is evidence on the long-run positive relationships between human well-being, foreign direct investment, education and urbanization. In addition, urbanization increases human well-being in the short run. Conversely, foreign direct investment and education reduce human well-being in the short run. Although, energy consumption is expected to impact human well-being, the study found no evidence to suggest that energy consumption impacts significantly on human well-being in the short run and long run. Besides, the results of this study may be of great importance for policy and decision-makers in order to develop policies that attract foreign direct investment capital, education and urbanization and contribute to the improvement of human well-being in Vietnam.

JEL codes

O1; O33; I31

Keywords

education; energy consumption; foreign direct investment; human well-being; urbanization

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DOI: https://doi.org/10.46223/HCMCOUJS.econ.en.15.3.3440.2025

15(5)2025 (IN PRESS)