Applying the ardl model to determine the relationship between fdi, industrialization process and economic growth of Quang Ninh province

Abstract

Quangninh province is changing every day in a positive direction. Transport infrastructure and urban beautification are identified as factors to attract FDI capital, promoting the industrialization process to ensure stable and sustainable economic growth. The research purpose is to apply the ARDL model to determine the relationship between FDI, industrialization process anh economic growth of Quangninh province. Using statistical data in the period 2000-2020 of Quangninh province, research results on FDI factors and industrialization process have explained 99.99% of the variation in economic growth factors and ensure statistical significance. Both FDI factors and the industrialization process have a positive relationship with economic growth, specifically when the industrial process changes immediately affecting economic growth, while the FDI factor changes at a rapid rate. A delay of three years will affect economic growth. Through this research, businesses and managers can apply it to both determine the relationship and know the lag that influencing factors have on research results.