Basic research and applied research in economics and business in Vietnamese universities

Abstract

    Economics and business is a social science field and often implicitly understood to be only suitable for applied research. However, the Nobel Prize for economics awarded to the American economist Vernon L Smith in 2002 is a testament to the application of basic research in economic science. Currently scholars around the world have applied flexibly, combined both basic research and applied research in economics and business to improve the interpretation and practice of research fIndings. There have been many studies conducted in universities in Vietnam. However, these studies are mainly applied research. This study identifies barriers to the development of the basic research in economics and business field and proposes solutions to promote basic research and combination between basic and applied research in this field.