Application in International Market Selection for the Export of Goods: A Case Study in Vietnam
2018
Wang, Chia Nan | Le, Anh Phuong
International market selection for conducting exports is based on various trade and economic factors. It is very important to understand how to efficiently trade with another country and to maintain consistency. However, such a consistency is not possible in the case of economics. Therefore, using an efficiency measure helps us to explore and benchmark a country’s exportation businesses. The main goal of this study is to develop an integrated data envelopment analysis (DEA) model to explore the most productive manner through which Vietnam exports goods to other countries. Exploring the most productive export business will help us achieve another goal of this study, which is the selection of international market efficiencies. The variables used for this analysis include the exports, total exports, import tariff, dollar exchange, and the ease of doing business. Based on the data collected from an international organization, on the 15 leading export markets in Vietnam, this study applied integrated DEA, which combines the super slack-based measure (Super SBM) and Malmquist Productivity Index (MPI) analysis to evaluate the export market efficiency. The findings show that for the selection of the export market, the three countries that were the most consistently efficient during 2014–2017 were Malaysia, Singapore, and the United States. This study indicates that the selection of international markets for developing countries should comply with low tariff rates, low exchange rates, and a higher ease of doing business in order to improve the gross domestic product (GDP) and economy of the country.
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