This paper analyzes the relationship between government expenditure, tax on returns to assets, public debt, and growth in an endogenous growth model. Public debt is composed of two components, domestic debt and external debt. We show conditions for existence, uniqueness, and multiplicity of the steady states. More precisely, existence of steady state requires a sufficiently high productivity and a sufficiently low tax on returns to assets. We also provide the effects of an increase in the tax rate on returns to assets on the steady state.

This paper empirically examines the intergenerational mobility of earnings and income in Vietnam using the two‐sample two‐stage least squares estimation. The baseline intergenerational elasticity estimates show that Vietnam occupies the intermediate degrees of intergenerational mobility of earnings and income for both sons and daughters. In particular, a rise of 10 per cent in fathers’ earnings is on average associated with an increase of 3.61 per cent and 3.94 per cent for sons’ earnings and income, respectively.

Vietnam’s economy is one of the most energy-intensive economies in the world, facilitated by long-standing government policies indirectly subsidizing energy prices through various state-owned enterprises in the energy sector. A consequence of this is that firms are using too much energy in production. This raises a crucial issue as to whether Vietnam can continue its development trajectory in the new era with rising energy prices and increased awareness of the use of fossil fuels and environmental pollution.

Coral reef ecosystems provide many important services to society. Their importance is not only proved by their beauty but also because they provide food and livelihood for millions of people in communities around the world, especially in developing countries. This paper estimates the economic value of coral ecosystems and potential impacts of climate change and fishing activities on the loss of coral reefs in Nha Trang Bay, Vietnam.

Resource rent in aquaculture (RRA) is any payment to a farm and site owner, on land or sea, in excess of the costs needed to bring that farm into production. For analytic and policy purposes it may be useful to distinguish among different types of RRA. Three types will be discussed: rent associated with the classical economists Ricardo (1821) and Faustmann (1849), as well as oligopoly rent from access regulation (licensing) and hampered output. The latter can arise in the case of downward sloping demand for a particular type of seafood from an aquaculture country.

The impact of economic activity on the environment is considered an external effect when it is not taken into account in the decision‐making process of economic agents. This chapter introduces the general functioning of traditional forms of environmental regulation with examples of application.