tiểu luận kinh tế lượng THE FACTORS AFFECTING THE QUANTITY OF VIETNAM’S TIMBER AND WOODEN PRODUCTS EXPORTED TO FOREIGN NATIONS

FOREIGN TRADE UNIVERSITY FACULTY OF INTERNATIONAL ECONOMICS ******** FINANCIAL ECONOMETRICS REPORT THE FACTORS AFFECTING THE QUANTITY OF VIETNAM’S TIMBER AND WOODEN PRODUCTS EXPORTED TO FOREIGN NATIONS Class: Financial Econometrics KTEE310.1 Lecturer: MSc Nguyen Thuy Quynh Members: Vu Phuong Anh – 1813340009 Pham Bui Hanh Duyen – 1813340020 Nguyen Phan My Duyen - 1816340018 Dong Nguyen Thanh Hai – 1810340001 Nguyen Quynh Nga – 1813340042 Ha Noi, 12/2019 ABSTRACT .1 INTRODUCTION .2 SECTION I: OVERVIEW OF THE TOPIC SECTION II: MODEL SPECIFICATION 14 Methodology 14 Theoretical model specification 14 Describe the data .16 SECTION 3: ESTIMATED MODEL AND STATISTICAL INFERENCES 37 Estimated Model .37 Diagnosis Testing .39 Hypothesis Testing 45 Recommendation .50 CONCLUSION 52 REFERENCES 54 APPENDIX 55 APPENDIX 2: DO-FILE 59 ABSTRACT The scope of our research regards factors that might have momentous impacts on the quantity of Viet Nam’s timber and wooden products being exported to foreign nations The panel analysis within our project was carried out using data from different countries (Germany, Netherlands, USA, Japan, England, France, …) in the period from 2001 to 2016 There are elements being researched in our data, including the quantity of Viet Nam’s timber being imported by other countries, the population, timberland, GDP of import countries and the geographical distance from Viet Nam to these countries We genuinely conducted a wide variety of tests so as to evaluate the importance of the examined elements to Viet Nam’s wood exports The tests we used are hypothesis testing, diagnosis testing, … Ultimately, the results have shown that there is seemingly a close correspondence between the aforementioned independent variables and the explained variable Thanks to the adequate and comprehensive tests as well as sufficient data collecting, our group were capable of acquiring a more extensive knowledge about the economy in general and Viet Nam’s timber exports in specific We can also develop a further understanding over the disturbances that contribute to the fluctuation of Viet Nam’s timber exports Consequently, Viet Nam’s government is now able to impose radical and plausible policies to our timber industry based on the collected data as well as conducted tests INTRODUCTION Nowadays, in our contemporary society, wooden products have become truly intimate and crucial to our lives It is indisputable that everyone loves wooden floors, wooden furniture and so on Unlike some developed nations, Viet Nam has the merits of the vast area of forest, and an ancient timber industry In fact, our craftsman are capable of making really sophisticated and brilliant products, albeit not as ingenious and luxurious as some countries Nonetheless, our products still yield a surprisingly well finish and quality with a decent price Hence, Viet Nam’s economy in recent years witnessed a proliferation in the timber industry, with the prosperity of numerous wood companies Nonetheless, our timber exports have some significant fluctuations sometimes Subjectively speaking, there must be some addressable reasons for this phenomenon Inevitably, in order to ensure our timber industry’s development and our wood exports, it is of importance to figure out this phenomenon’s dominant justifications Having researched about Viet Nam’s wood industry, we assume that there are elements attributing to those unstable exports We examined this assumption with the tools provided from econometrics and the software STATA Our model includes five variables, one is the dependent variable (Viet Nam’s timber exports) and the rest are independent variables (the quantity of Viet Nam’s timber being imported by other countries, the population, timberland, GDP of import countries and the geographical distance from Viet Nam to these countries) We hope that these variables will be sufficient for our research and facilitate the analysing and testing processes Governments, firms, organisations and everyone can use our project as a reference material for their researching purposes or as a step to develop our economy substantially In spite of our objective knowledge and efforts, there might still be some inexorable mistakes our study We look forward to receiving your feedback on our work so that we can refine our project and enhance our perceptions SECTION I: OVERVIEW OF THE TOPIC Historically, many researches have been carried out about the quantity of Vietnam’s timber and wooden products being exported to foreign nations and the factors that have impact on it According to a study from General Statistics Office of Vietnam, Vietnam is a leading wood exporter in ASEAN, ranks 2nd in Asia and 5th in the world in terms of export revenue from forestry products Vietnam also accounts for 6% of the global timber and wooden furniture market which is estimated at 130 billion USD Besides, many trade agreements and documents that have been signed so far will set up legal corridors and mechanisms to encourage market expansion for the forestry sector Taking everything into consideration, we can see a lot of development potential in wood exporting in the future However, there is no research which include all the factors that affect forestry sector in Vietnam, especially trading market of timber and wooden furniture Therefore, we decided to study and research about “The factors affecting the quantity of Vietnam’s timber and wooden products exported to foreign nations” to find out how these elements have impact on the exporting quantity of timber and wooden products Definition of each variable: 1.1 Gross Domestic Product (GDP) Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period 1.2 Population A population is the number of organisms of the same species that live in a particular geographic area at the same time, with the capability of interbreeding; here is human 1.3 Annual timber harvested area of imported countries Timber harvesting involves planning harvest and reforestation; cutting trees and moving them to a landing; processing, sorting and loading; and transporting materials Annual timber harvested area of imported countries is acreage of forest areas which have been exploited for wood every year in countries that import timber from Vietnam 1.4 International economic relation International economic relation is an information system in the information society It is also a social and market-based control system rather vividly reflects its current state It affects global alliances, globalization, and the economic health of nations 1.5 Economic distance Economic distance has two distinct yet interrelated definitions One is a relative measure of household well-being based on a percentage of median income, another is an absolute difference in per capita income between social groups Economic theories The export of goods in general and the export of timber in particular are a part of international trade For most countries in the world, international trade is equivalent to a large proportion of GDP Many economists have come up with different models to predict the structure of international trade and analyze the effects of factors on exports International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications International trade policy has been highly controversial since the 18th century up to our days International trade theory and economics itself have developed as means to evaluate the effects of trade policies 2.1 Adam Smith's model Adam Smith was an 18th-century philosopher renowned as the father of modern economics and a major proponent of laissez-faire economic policies The core of Smith's thesis was that humans' natural tendency toward self-interest (or in modern terms, looking out for yourself) results in prosperity Smith argued that by giving everyone freedom to produce and exchange goods as they pleased (free trade) and opening the markets up to domestic and foreign competition, people's natural selfinterest would promote greater prosperity than with stringent government regulations This free-market force became known as the invisible hand, but it needed support to bring about its magic Adam Smith describes trade taking place as a result of countries having absolute advantage in production of particular goods, relative to each other Within Adam Smith’s framework, absolute advantage refers to the instance where one country can produce a unit of a good with less labor than another country 2.2 The Ricardian Model The Ricardian Model of Trade is developed by English political economist David Ricardo in his magnum opus On the Principles of Political Economy and Taxation (1817) It is the first formal model of international trade Ricardo strengthens the case for free trade by giving it a theoretical framework based on the logic of comparative advantage This concept is of such historical importance in the field of economics that when Nobel laureate Paul Samuelson was once questioned by a self-important mathematician to "name one proposition in all of the social sciences which is both true and non-trivial, he responded confidently, "comparative advantage." Like all other economic theories, the Ricardian Model makes a number of basic assumptions to construct an imaginary world: There are only countries They produce goods Production requires only input, labor, which is limited in amount in both countries and is perfectly immobile (i.e strict border control) Opportunity cost between the goods is constant in each country (Graphically, the production possibility frontier is a straight line) There is neither transaction cost nor transportation cost By definition, a country has absolute advantage over the other if it is more efficient at producing both goods than the other country A country has comparative advantage in producing a certain good if the opportunity cost of producing that good is lower than in the other country Ricardo observes that an absolute advantage does not necessarily imply a comparative advantage As long as the relative cost of production is different in the countries, comparative advantage exists Under autarky condition (no trade), each of the two countries produces some combination of the goods Once trade becomes possible, they are motivated to specialize fully in the production of the good in which they have a comparative advantage, thus allocating their scarce resources (labor) to its most productive uses In the aggregate, people in both countries end up consuming more of both goods than they did in the absence of trade Since more consumption means greater satisfaction (using economic jargon, equilibrium shifts to a higher indifference curve), trade allow both countries to improve their welfare The Ricardian Model concludes therefore that international trade benefits all participants 2.3 Heckscher–Ohlin model The Heckscher-Ohlin model is an economic theory that proposes that countries export what they can most efficiently and plentifully produce Also referred to as the H-O model or 2x2x2 model, it's used to evaluate trade and, more specifically, the equilibrium of trade between two countries that have varying specialties and natural resources The model emphasizes the export of goods requiring factors of production that a country has in abundance It also emphasizes the import of goods that a nation cannot produce as efficiently It takes the position that countries should ideally export materials and resources of which they have an excess, while proportionately importing those resources they need The Heckscher-Ohlin model evaluates the equilibrium of trade between two countries that have varying specialties and natural resources The model explains how a nation should operate and trade when resources are imbalanced throughout the world The model isn't limited to commodities, but also incorporates other production factors such as labor The Heckscher-Ohlin model explains mathematically how a country should operate and trade when resources are imbalanced throughout the world It pinpoints a preferred balance between two countries, each with its resources 2.4 Stolper-Samuelson theorem According to the Stolper-Samuelson theorem, the export of a product which is relatively cheap, abundant resource makes this resource scarcer in the domestic market Thus, the increased demand for the abundant resource leads to an increase in its price and an increase in its income Simultaneously, the income of the resource used intensively in the import-competing product decreases as its demand falls Simply put, this theorem indicates that an increase in the price of a product rises the income earned by resources that are used intensively in its production Conversely, a decrease in the price of a product reduces the income of the resources that it uses intensively The abundant resource that have comparative advantage realizes an increase in income, and the scare resource realizes a decrease in its income regardless of industry This trade theory concludes that some people will suffer losses from free trade even in the long-term 2.5 New trade theory New Trade Theory (NTT) is an economic theory that was developed in the 1970s as a way to predict international trade patterns NTT came about to help us understand why countries are trade partners when they are trading similar goods and services This is especially true in key economic sectors like electronics, food, and automotive We have cars made in the United States, yet we purchase many cars made in other countries These are usually products that come from large, global industries that directly impact international economies Those tablets we talked about earlier are a perfect example The United States both produces them and also imports them NTT argues that, because of substantial economies of scale and network effects, it pays to export tablets to sell in another country Those countries with the advantages will dominate the market, and the market takes the form of monopolistic competition Monopolistic competition tells us that the firms are producing a similar product that isn't exactly the same, but awfully close According to NTT, two key concepts 10 - As for “GDP”: p – value ; reject null hypothesis, accept The GDP of importing wood countries have a statistically significant impact on total Vietnam wood exported, higher number of GDP, higher the income and the demand for wood product In particular, with the sample we have, the estimated result show that with one more trillion USD increasing will lead to - 25.42716 USD thousand more quantity export from Vietnam As for “POP”: p – value = 0.026 ; reject null hypothesis, accept The total population of wood importing country has a statistically significant impact on total Vietnam wood export, higher number of population, higher the demand for wood and wood product In particular, with the sample we have, the estimated result show that with one more one million people of importing - country will lead to 0.0017758 thousand USD of exported quantity As for “Dis”: p – value = 0.103 < α = 0.05; reject null hypothesis, accept The distance between importing wood countries and Vietnam has a statistically significant impact on total Vietnam wood exported, the further the distance is, the more difficult to transport, therefore there will the a decrease for wood importing In particular, with the sample we have, the estimated result show that with one more kilometer further will lead to a decrease of - 2754124 USD thousand quantity export from Vietnam As for “Si”: p – value = 0.103 > α = 0.05; accept null hypothesis Therefore, with the data given, the size of timberland area of wood importing countries does not have much impact on total Vietnam wood exporting 49 Therefore we can consider to eliminate the “Si” from our model Test C, T – value test Establish the hypothesis: t – critical: If = 1.982 then reject and accept Which means that that variable has a statistically significant impact on total campus crimes Table T-value summarize table: As described by the table, only GDP and POP pass the hypothesis test for t –value, which mean : = and : = are rejected The conclusion for t – value test is coincided with p – value test: total GDP and total population of wood importing countries does not have much impact on total Vietnam wood exporting with significant level of 5% An increase in “GDP” (or “POP”) variable leads to an increase in “Q” 3.3 Testing the fitness of the model 50 We know that one of the measures of goodness of fit of a regression model is R2 (coefficient of determination), which, as we know, is defined as: R2, thus defined, of necessity lies between and The closer it is to 1, the better is the fit Hypothesis : with significance level We follow the Fisher equation: Fqs = Taking the result obtained from command reg and robust in STATA: R2= 0.5257 Prob > F= 0.0000 < Therefore, we reject H0, accept H1  The chosen model fits the collected data set Recommendation As we mention on Fix the problem of heteroscedasticity, we will eliminate one variables to fit the model Our new model will be: Q = 94431.22 + 25.6 x GDPi + 0.00177613 x POPi + (-27576.15) x Dis + Using command reg we have: 51 As R-squared index only reduced by more than 1%, we can conclude that the new regression model is not much different in term of percentage of total campus crime that can be explained by the model However, the change in the values of coefficients and standard errors are significant, this newly established model will only be deemed as suggestion by the authors Many economists believe that by exporting more, more foreign exchange can be earned That is why governments encourage exports Only challenge for the exporters is that they should be able to get products at lesser cost so that more exports will be possible One more suggestion from the author is that exports subsidy Export subsidy is a government policy to encourage export of goods and discourage sale of goods on the domestic market through direct payments, low-cost loans, tax relief for exporters, or government-financed international advertising An export subsidy reduces the price paid by foreign importers, which means domestic consumers pay more than foreign consumers By taking care more and more about wood industry, the opportunity to enhance wood exporting is possible 52 CONCLUSION Through testing and researching, our study has fully demonstrated the econometrics model over factors affecting the quantity of Vietnam’s timber and wooden products exported to foreign nations Observations have been quantified in order to optimize assessments over factors which are GDP, population, annual timber harvested area of imported countries, international economic relation and economic distance The research has successfully demonstrated the connections and the interactive reflections between the mentioned elements with the dependent variable We believe that the relationship between GDP and the exporting quantity of Vietnam’s timber and wooden products is positive Our team can explain this by a number of theories, that is in Vietnam and other countries, when gross domestic product increase, that means people want to consume more That leads to a rise in consumption of goods, specifically here is timber As people want to spend more money, the quantity of exporting timber and wooden products also increase We also think that population and the total amount of wood exported to importing countries are positive impact relationship It is the fact that the countries that import wood from Vietnam are mostly countries which have largest population in the world It is also same positive relationship between international economic relation and exporting quantity of wood and wooden products, as the better their relationship, the more exporting quantity of goods from one country to another On the other hand, the relationship between annual timber harvested area of imported countries and quantity of timber and wooden products that being exported to foreign countries is negative The countries with less area to harvested wood will tend to import more from other countries, here is Vietnam We also believe that economic distance and the quantity of timber and wooden products exported to foreign nations is negative relationship As the gap between countries’ economy and others’ grow, the quantity of imported and exported goods will decrease 53 Besides the problems that have been solved, research still exists some shortcomings such as difficulties in collecting research data (There are many theories on this project but we can not fully understand We were trying our best to find the most accurate data to provide a complete study for the reader); the number of observations is considered low compared to a real model; the difficulty of running the model to produce results is not really consistent with the theory We hope these limitations will be solved completely in next researches 54 REFERENCES EFI VIETNAM: Overview of Forest Governance and Trade [Online] 2011 Available from: http://www.euflegt.efi.int/documents/10180/23308/Baseline+Study+3,%20Vietna m/73bea271-0a2e-4ecb-ac4e-f4727f5d8ad9 World Trade Institute The panorama for Vietnam’s Timber Industry with VietnamEU Free Trade Agreement (EVFTA): Opportunities and challenges [Online] 2016 Available from: https://www.wti.org/media/filer_public/83/d2/83d25a5c-b4ec4a2a-bcdb-ee214a6c8c4d/working_paper_no_5_2016_bao.pdf LÊ THÀNH DUY, “Các nhân tố ảnh hưởng đến thị trường xuất gỗ Việt Nam sang thị trường Hoa Kỳ”, [Online] 2019 Available from: https://xemtailieu.com/tai-lieu/dc-nghien-cuu-cac-nhan-to-anh-huong-den-xuatkhau-san-pham-go-cua-viet-nam-sang-thi-truong-hoa-ky-v1-1912193.html FAO VIETNAM FORESTRY OUTLOOK STUDY [Online] 2009 Available from: http://www.fao.org/3/am254e/am254e00.pdf Adam Smith, “The Wealth of Nations”, 1776 Joseph M Grieco and G John Ikenberry, “The Economics of International Trade and Finance”, Chapter 2, [Online] Available from: http://people.duke.edu/~grieco/chapter2fulldoc.pdf Beth V Yarbrough and Robert M Yarbrough, “The World Economy: Trade and Finance” (Fort Worth: the Dryden Press), 1994 Douglas Irwin, “Against the Tide: An Intellectual History of Free Trade” (Princeton: Princeton University Press), 1996 Reem Heakal, “What is International Trade?”, [Online] 2018 Available from: https://www.investopedia.com/insights/what-is-international-trade 10 Saylor Academy, “International Trade: Theory and Policy”, [Online] 2012 Available from: https://saylordotorg.github.io/text_international-trade-theory-andpolicy/index.html 11.Tejvan Pettinger, “New Trade Theory”, [Online] 2017 Available from: https://www.economicshelp.org/blog/6957/trade/new-trade-theory 12 Steven M.Suranovic, “The Heckscher-Ohlin Theorem”, [Online] 2006 Available from: 55 http://internationalecon.com/Trade/Tch60/T60-8.php APPENDIX Q Country ID Year (US$ GDPi Thousand (US$ ) Trillion) POPi Dis Si (sq (Million) (km) km) 3670 24956 Japan 2016 770750 4927 126994511 3670 24958 Japan 2015 809389 4389 127141000 3670 24959 Japan 2014 706813 4850 127276000 3670 24961 Japan 2013 624736 5156 127445000 3670 24962 Japan 2012 510541 6203 127629000 3670 24964 Japan 2011 465324 6157 127833000 3670 24966 Japan 2010 327754 5700 128070000 3670 24959 Japan 2009 249458 5231 128047000 3670 24953 Japan 2008 272657 5038 128063000 3670 24947 Japan 2007 207035 4515 128001000 3670 24941 Japan 2006 152563 4530 127854000 3670 24935 Japan 2005 131007 4755 127773000 3670 24923 Japan 2004 114028 4815 127761000 3670 24911 Japan 2003 97187 4446 127718000 3670 24899 Japan 2002 78396 4115 127445000 56 3670 24887 Japan 2001 75194 4304 127149000 Korea 2016 454363 1415 51245707 3109 61764 Korea 2015 368372 1383 51014917 3109 61840 Korea 2014 367448 1411 50746659 3109 61916 Korea 2013 250750 1306 50428893 3109 61992 Korea 2012 191806 1223 50199853 3109 62068 Korea 2011 161014 1202 49936638 3109 62144 Korea 2010 107795 1094 49554112 3109 62220 Korea 2009 54176 901.94 49307835 3109 62286 Korea 2008 61836 1002 49054708 3109 62352 Korea 2007 37447 1123 48683638 3109 62418 Korea 2006 25757 1012 48438292 3109 62484 Korea 2005 16866 898.14 48184561 3109 62550 Korea 2004 10633 764.88 48082519 3109 62616 Korea 2003 9509.2 680.52 47892330 3109 62682 Korea 2002 9830.7 609.02 47644736 3109 62748 Korea 2001 10077 533.05 47370164 3109 62814 UK 2016 21073 2750 65595565 10027 31610 UK 2015 23007 2986.4 65128861 10027 31440 UK 2014 21143 3426.5 64613160 10027 31270 UK 2013 19256 4006.8 64128226 10027 31100 UK 2012 18632 4180.4 63700300 10027 30930 UK 2011 17831 4432.6 63258918 10027 30760 UK 2010 14167 5029.3 62766365 10027 30590 UK 2009 14367 4698.6 62276270 10027 30514 UK 2008 17229 3845.4 61806995 10027 30438 UK 2007 19586 3908 61322463 10027 30362 UK 2006 18565 4165.3 60846820 10027 30286 UK 2005 17154 4201.9 60401206 10027 30210 UK 2004 15875 4293.8 59987905 10027 30076 UK 2003 10406 4696.8 59647577 10027 29942 UK 2002 12611 4447.2 59370479 10027 29808 UK 2001 13188 4054 59199673 10027 29674 Canada 2016 19174 2373.8 36109487 11565 3E+06 57 Canada 2015 15828 2416.9 35702908 11565 3E+06 Canada 2014 14232 2820.1 35437435 11565 3E+06 Canada 2013 13131 3203.4 35082954 11565 3E+06 Canada 2012 9456.1 3626.6 34714222 11565 3E+06 Canada 2011 6358.5 4038.6 34339328 11565 3E+06 Canada 2010 4034.9 4454.3 34004889 11565 3E+06 Canada 2009 3509.1 4659.4 33628895 11565 3E+06 Canada 2008 5738.7 4077.3 33247118 11565 3E+06 Canada 2007 7844.4 4745 32889025 11565 3E+06 Canada 2006 4777.9 5210.2 32571174 11565 3E+06 Canada 2005 4203.7 5254.2 32243753 11565 3E+06 Canada 2004 5512.7 5250.5 31940655 11565 3E+06 Canada 2003 3001.6 5083.6 31644028 11565 3E+06 Canada 2002 5981.3 4447.2 31360079 11565 3E+06 Canada 2001 3059.1 4228 31020902 11565 3E+06 Australia 2016 69277 1210 24190907 5173 1E+06 Australia 2015 66950 1351.5 23815995 5173 1E+06 Australia 2014 63137 1467.5 23475686 5173 1E+06 Australia 2013 53652 1576.2 23128129 5173 1E+06 Australia 2012 46677 1546.2 22733465 5173 1E+06 Australia 2011 38444 1396.6 22340024 5173 1E+06 Australia 2010 39976 1146.1 22031750 5173 1E+06 Australia 2009 22633 927.81 21691700 5173 1E+06 Australia 2008 22671 1054 21249200 5173 1E+06 Australia 2007 16702 853.1 20827600 5173 1E+06 Australia 2006 11127 746.05 20697900 5173 1E+06 Australia 2005 11495 693.41 20394800 5173 1E+06 Australia 2004 13684 612.49 20127400 5173 1E+06 Australia 2003 6776.2 466.49 19895400 5173 1E+06 Australia 2002 5107.9 394.65 19651400 5173 1E+06 Australia 2001 2752.8 378.38 19413000 5173 1E+06 17102 France 2016 36173 2471.3 66859768 10072 16989 France 2015 27870 2438.2 66593366 10072 58 16876 France 2014 30436 2852.2 66316100 10072 16763 France 2013 29634 2811.1 65998687 10072 16650 France 2012 27851 2683.8 65659809 10072 16537 France 2011 25367 2861.4 65342780 10072 16424 France 2010 27429 2642.6 65027507 10072 16311 France 2009 26373 2690.2 64707040 10072 16198 France 2008 34740 2918.4 64374984 10072 16086 France 2007 28075 2657.2 64016225 10072 15973 France 2006 22915 2318.6 63621381 10072 15861 France 2005 19436 2196.1 63179351 10072 15746 France 2004 22449 2115.7 62704895 10072 15632 France 2003 18578 1840.5 62244886 10072 15517 France 2002 16836 1494.3 61805267 10072 15403 France 2001 15533 1376.5 61357430 10072 11671 Germany 2016 61707 3478 80682351 9327 11686 Germany 2015 60555 3376 80688545 9327 11682 Germany 2014 58037 3891 80646262 9327 11681 Germany 2013 52909 3753 80565860 9327 59 11690 Germany 2012 64749 3544 80477952 9327 11688 Germany 2011 59038 3758 80424665 9327 11685 Germany 2010 57702 3417 80435307 9327 11679 Germany 2009 63100 3418 80519684 9327 11673 Germany 2008 66425 3752 80665905 9327 11666 Germany 2007 70776 3440 80854515 9327 11659 Germany 2006 52401 3002 81055903 9327 11653 Germany 2005 37930 2861 81246801 9327 11647 Germany 2004 30302 2819 81417791 9327 11639 Germany 2003 22435 2506 81569480 9327 11631 Germany 2002 12319 2079 81699828 9327 11624 Germany 2001 10556 1951 81809438 9327 60 APPENDIX 2: DO-FILE Statistical description sum Q GDPi POPi Dis Si Correlation matrix corr Q GDPi POPi Dis Si Regression model reg Q GDPi POPi Dis Si Test for misspecification ovtest Test for multicollinearity vif Test for Heterokadasticity imtest, white Robust test reg Q USDi GDPi Dis Si, robust Test for normal distribution of the disturbance predict res, residual 61 INDIVIDUAL ASSESSMENT Members’ names Vu Phuong Evaluator Anh Vu Phuong Anh 10 Pham Bui Hanh Duyen 10 Nguyen Phan My Duyen 10 Dong Nguyen Thanh Hai 10 Nguyen Quynh Nga Pham Bui Hanh Duyen 10 10 10 10 10 Nguyen Phan My Duyen 10 10 10 10 10 Dong Nguyen Thanh Hai 10 10 10 10 10 Nguyen Quynh Nga 10 10 10 10 10 Average Score 10 10 10 10 10 10 62 ... timber and wooden furniture Therefore, we decided to study and research about The factors affecting the quantity of Vietnam’s timber and wooden products exported to foreign nations to find... about the quantity of Vietnam’s timber and wooden products being exported to foreign nations and the factors that have impact on it According to a study from General Statistics Office of Vietnam,... scope of our research regards factors that might have momentous impacts on the quantity of Viet Nam’s timber and wooden products being exported to foreign nations The panel analysis within our