Randwick International of Social Science Journal
Vol. 5 No. 1 (2024): RISS Journal, January

Labor Productivity Growth and Its Contribution to the GRDP of Thai Nguyen Province, Vietnam

Nguyen Dac Dung (Thai Nguyen University of Economics and Business Administration, Thai Nguyen City, Viet Nam)
Tran Quang Huy (Thai Nguyen University of Economics and Business Administration, Thai Nguyen City, Viet Nam)



Article Info

Publish Date
31 Jan 2024

Abstract

This research focuses on analyzing the trajectory of labor productivity growth and its consequential impact on Thai Nguyen Province's Gross Regional Domestic Product (GRDP) between 2017 and 2022. By employing statistical methodologies and descriptive statistics sourced from the Statistical Office of Thai Nguyen Province, this study illuminates the dynamic nature of labor productivity within the province. Over this period, there was a consistent fluctuation in productivity levels, reflecting an overall upward trend. Notably, the average productivity growth rate stood at a substantial 12.61%, showcasing the province's evolving economic landscape. Remarkably, 2021 emerged as the year with the most significant productivity surge, juxtaposed against the comparatively sluggish growth witnessed in 2020. Additionally, this investigation firmly establishes labor productivity as a predominant driver of GRDP growth in Thai Nguyen Province, surpassing the influence exerted by capital and labor inputs. These findings underscore the paramount importance of labor productivity as the linchpin of economic progress within the province, signifying its pivotal role in shaping the region's economic trajectory compared to other contributing factors.

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Journal Info

Abbrev

rissj

Publisher

Subject

Humanities Social Sciences

Description

The RISS Journal publishes research and analysis papers in the fields of social science include humanities such as anthropology, business studies, communication studies, corporate governance, criminology, history, culture, cross-cultural studies, ethics, education, economy, geography, philosophy, ...