Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.2013268
Effects of bribery on natural resource efficiency in Vietnam: moderating effects of market competition and credit constraints
Le Thanh Ha
Doan Ngoc Thang
To Trung Thanh
Sažetak
This article uses small and medium-sized enterprises’ (SMEs) survey data in Vietnam from 2007 to 2015 to examine the effects of
bribery on the natural resource efficiency of firms facing credit
constraints and market competition. We also employ the disaggregated resource intensity by water, fuel, and electricity. Creditconstrained firms are broken down into those who have had formal loan applications denied (credit rationed) and those who do
not apply for formal loans due to either the process being too
difficult or the interest rate being too high (discouraged borrowers). Applying instrumental variable method to take into
account the endogeneity problem, the empirical results provide
evidence to support the ‘sanding-the-wheels of resource efficiency’ hypothesis. Among the three natural resources, inefficiency is most evident in water consumption. Furthermore, the
effects become more sizable for micro-sized and informally registered firms since they have a lower bargaining power vis-a-vis
public officials. Credit constraints and market competition pressure can reduce a firm’s ability to use natural resources efficiently
Ključne riječi
Bribery; resource efficiency; SMEs; Vietnam
Hrčak ID:
302699
URI
Datum izdavanja:
31.3.2023.
Posjeta: 175 *