Digital economy and emerging markets

Digital economy and emerging markets

The Digital economy and emerging markets theme is committed to advancing research that addresses the growth, resilience, and sustainability of developing and emerging economies.

The implications and applications of technologies in the economy is a major area of research of the research theme. Combining theoretical and empirical approaches, the cluster explores the economic and financial dynamics shaping these regions, emphasising inclusive and sustainable growth and development. The theme is home to a team of 37 researchers.

Key expertise areas

Impactful research projects, funded by industry and government​.

Key accomplishments

From 2023 to 2025

Impact

More than 200 publications with about 60% A*/A/Q1 papers

Grants

20 external and internal grants with 11 external grants

Completions

5 PhD completions

Research theme highlights

Theme lead

Dr Dao Le Trang Anh profile image

Dr Dao Le Trang Anh​

Dr Dao Le Trang Anh is a lecturer in Finance at RMIT Vietnam, Hanoi Campus. Dr Anh’s research expertise spans across climate change mitigation, financial development and Asian studies. She has published research articles in well-ranked journals (A*/A/Q1 journal). She was awarded “Research Impact Award – Early Career Academic” by The Business School at RMIT Vietnam in 2024 and “Literati Award Winners 2022” for Outstanding Paper from Journal of Economic Studies. Dr Anh currently serves as Associate Editor for International Journal of Social Economics.​

Profile details

Members

  • Professor Tra Pham – HoD, Economics and Finance
  • Professor Thai Nguyen - Deputy Dean, Learning and Teaching, TBS
  • Associate Professor Binh Nguyen - Associate HoD, Economics and Finance
  • Associate Professor Burkhard Schrage – Associate HoD, T&L, Management
  • Associate Professor Greeni Maheshwari, Management
  • Associate Professor Huy Pham - Finance
  • Dr Linh Nguyen Thi My - Senior Program Manager, Finance
  • Dr Van Ha Thi Cam - Senior Program Manager, Economics
  • Dr Huy Doan Bao - Senior Lecturer, Finance
  • Dr Nhung Vu Thi Hong – Lecturer, Economics
  • Dr Tam Le – Lecturer, Digital Economy
  • Dr Richard Ramsawak - Senior Lecturer, Economics
  • Dr Anh Nguyen - Lecturer, Finance
  • Dr Tung Bui Duy – Senior Lecturer, Economics
  • Dr Phong Nguyen - Lecturer, Digital Economy
  • Dr Hanh Le Hong - Lecturer, Finance
  • Dr Chung Phan - Lecturer, International Business
  • Dr Ronald Kumar - Senior Lecturer, Economics
  • Dr Samuel Buertey - Associate Senior Program Manager, Accounting
  • Dr Trinh Nguyen - Interim Senior Program Manager, Digital Economy
  • Dr Diem Vo – Lecturer, Digital Economy
  • Dr Son Nguyen - Interim Associate HoD, Senior Program Manager, Accounting and Law
  • Dr Son Ha – Lecturer, Digital Economy
  • Dr Seng Kiong Kok – HoD, Undergraduate Business Programs (UGBP)
  • Dr Stanley Teck Lee Yap - Associate Program Manager, UGBP
  • Dr Tuan Chu - Associate Program Manager, UGBP
  • Dr Irfan Shakri – Lecturer, Finance
  • Dr Adeel Ahmed – Lecturer, Economics
  • Dr Deepak Behera – Lecturer, Economics
  • Dr Haji Suleman Ali – Lecturer, Digital Economy
  • Dr Kashif Iqbal – Lecturer, Economics
  • Dr Fiza Qureshi - Senior Lecturer, Finance
  • Dr Duong Vu - Research Fellow
  • Dr Nguyen Hoang Binh - Lecturer, Accounting
  • Nhan Nguyen – Interim Associate Program Manager, UGBP

The Digital Economy Pathway: Potential Contributions of Digital Technologies for Vietnam to Overcome the Middle-Income Trap

The study encompass a comprehensive assessment of the current digital economy landscape in Vietnam, evaluate the economic impact of these technologies on growth, identify necessary regulatory frameworks and funding strategies, and develop initiatives for workforce development to attract and retain top talent. Ultimately, this research aims to provide valuable insights for policymakers and industry leaders on leveraging digital opportunities to stimulate economic advancement in Vietnam.

Project lead: Binh Nguyen

  • Fang, H., & Iqbal, K. (2025). Information and communication technology, upgrading of industrial structure and spatial spillover effect. Scientific Reports, 15(1). https://doi.org/10.1038/s41598-025-02957-1
  • Geng, H., Hau, H., Michaely, R., & Nguyen, B. H. (2025). Common institutional investors and board representation in rival firms. Journal of Corporate Finance, 94, 102836. https://doi.org/10.1016/j.jcorpfin.2025.102836
  • Gonzalez-Tamayo, L. A., Maheshwari, G., Krauss-Delorme, C., & Bonomo-Odizzio, A. (2025). Startup decision-making: Integrating trial-and-error with the entrepreneur-as-scientist approach. Journal of Small Business and Enterprise Development, 32(8), 169–196. https://doi.org/10.1108/jsbed-03-2025-0165
  • Hameed, I., Zainab, B., Akram, U., Ying, W. J., Chan Xing, C., & Khan, K. (2025a). Decoding willingness to buy in live-streaming retail: The application of Stimulus organism response model using PLS-SEM and Sem-Ann. Journal of Retailing and Consumer Services, 84, 104236. https://doi.org/10.1016/j.jretconser.2025.104236
  • Jin, S., Gan, C., & Anh, D. L. (2025). Climate opportunity exposure and the cost of capital: Evidence from emerging market firms. China Finance Review International, 15(3), 526–551. https://doi.org/10.1108/cfri-01-2025-0026
  • Jin, S., Hoang, K., Gan, C., Nguyen, Q. T., & Anh, D. L. (2025). Russo-ukrainian geopolitical tensions: An empirical analysis of corporate investment in Europe. Pacific-Basin Finance Journal, 90, 102690. https://doi.org/10.1016/j.pacfin.2025.102690
  • Kowshik, S. T., Chew, E. Y., & Lee, S. W. (2025). Knowledge transfer as a dynamic capability: A meta-analysis of its impact on organizational outcomes in international contexts. Knowledge Management Research & Practice, 1–16. https://doi.org/10.1080/14778238.2025.2519291
  • Kumar, Ronald Ravinesh, Stauvermann, P. J., & Dau, L. T. (2025). Does military spending really support economic growth in small island countries? A comparative study of Five Small Island countries. Defence and Peace Economics, 37(3), 422–451. https://doi.org/10.1080/10242694.2025.2503563
  • Lee, J., Chung, C. Y., & Pham, H. (2025). Antitrust deregulation and long-term performance of acquiring firms. International Review of Economics & Finance, 104, 104737. https://doi.org/10.1016/j.iref.2025.104737
  • Maqsood, U. S., Li, Q., & Zahid, R. M. (2025). Adoption of digital transformation from a firm’s creation to decline: The role of China’s mass entrepreneur and Innovation Campaign. Financial Innovation, 11(1). https://doi.org/10.1186/s40854-024-00740-1
  • Maqsood, U. S., Li, Q., Hussain, H., Hussain, M., & Zahid, R. M. A. (2025). Regulating CEO compensation: A remedy for corporate misconducts in China’s state-owned enterprises. Borsa Istanbul Review, 25(3), 617–632. https://doi.org/10.1016/j.bir.2025.03.001
  • Maqsood, U. S., Li, Q., Wang, S., & Zahid, R. M. (2025). Government CEO pay regulation and corporate innovation performance: The role of CEO’s Career Horizon and shareholding. BRQ Business Research Quarterly, 28(2), 543–568. https://doi.org/10.1177/23409444251314891
  • Nguyen, T. C., Nguyen, T. V., Schinckus, C., & Chu, T. T. (2025). Excess liquidity and risk: How economic policy uncertainty shapes corporate decisions post-crisis? Finance Research Letters, 83, 107739. https://doi.org/10.1016/j.frl.2025.107739
  • Pham, T. H., Woyo, E., Truong, D. T., Dao, T. C., & Luu, T. T. (2025). Beyond personality: The role of social commerce interactivity and co-production in strengthening consumer−firm bonds. Young Consumers, 26(7), 274–297. https://doi.org/10.1108/yc-01-2025-2401
  • Pham, T. T., Bui Duy, T., Chu, T., & Nguyen, T. (2025). Financial Inclusion, entrepreneurial activity and the moderating role of Human Capital: New cross-country evidence. Journal of Entrepreneurship in Emerging Economies, 17(7), 187–204. https://doi.org/10.1108/jeee-09-2024-0415
  • Phan, C. T., Perera, D., Ramsawak, R., & Pham, T. (2025). The impacts of social network on non-farm self-employment: Evidence from Vietnam. Journal of Rural Studies, 114, 103530. https://doi.org/10.1016/j.jrurstud.2024.103530
  • Roedder, F., & Schmid, S. (2025). The impact of foreign ownership on firms: A systematic literature review. Management Review Quarterly. https://doi.org/10.1007/s11301-025-00504-w
  • Saha, R., Jangbahadur, U., Israney, R. S., Sinha, M., Ahlawat, S., Akram, U., & Su, X. (2025). The psychological and emotional factors of gamification and customer experience. A systematic literature review and future research agenda. Acta Psychologica, 260, 105659. https://doi.org/10.1016/j.actpsy.2025.105659
  • Saleem, A., Zahid, R. M. A., & Sági, J. (2025). Differential impact of adopting Islamic Banking: A quasi-experimental approach. Research in International Business and Finance, 76, 102793. https://doi.org/10.1016/j.ribaf.2025.102793
  • Shakri, I. H., Yong, J., & Xiang, E. (2025). Does capital structure mediate the relationship between corporate governance compliance and Firm Performance? empirical evidence from Pakistan. Journal of Asia Business Studies, 19(2), 408–428. https://doi.org/10.1108/jabs-08-2023-0315
  • Taran-Bozbay, A., Zahid, R. M. A., & Shakri, I. H. (2025). Does geopolitical risk drive earnings management? evidence from low- and middle-income countries. Finance Research Letters, 86, 108762. https://doi.org/10.1016/j.frl.2025.108762
  • Tiwari, A. K., Trinh, H. H., Vo, D. T., & Sharma, G. D. (2025). How do economies decarbonize growth under finance-energy inequality? global evidence. Energy Economics, 142, 108172. https://doi.org/10.1016/j.eneco.2024.108172
  • Trinh, N. C., Tra, P. T., Van, H. T., & Anh, D. L. (2026). FDI dominance and the scope for a modern domestic industry. Research Policy, 55(1), 105368. https://doi.org/10.1016/j.respol.2025.105368
  • Chen, Z., Little, V. J., & Thuan, N. H. (2024). The evolving role of technology transfer offices in the Entrepreneurial University: Go-Betweens or playmakers? The Journal of Technology Transfer, 50(3), 1060–1079. https://doi.org/10.1007/s10961-024-10123-4
  • Anh, D. L., Quang, N. T., & Anh, N. T. (2024). Investment decision and efficiency: Global insights on manufacturing firms amidst energy uncertainties. Energy Economics, 137, 107793. https://doi.org/10.1016/j.eneco.2024.107793
  • Baulch, B., Kok, S. K., & Jolex, A. (2024). A new approach to monitoring farmer prices: Method and an application to Malawi. The Journal of Development Studies, 60(6), 874–894. https://doi.org/10.1080/00220388.2023.2291320
  • Behera, D. K., & Viswanathan, P. K. (2024). The interface between economic growth, carbon emissions, and health in the Asia‐Pacific region: Analysis of unobserved distributional heterogeneity. Natural Resources Forum. https://doi.org/10.1111/1477-8947.12584
  • Behera, D. K., Rahut, D. B., Haridas, H. T., & Shaik Husna Tasneem. (2024). Public versus private health financing transition in low- and middle-income countries: Exploring the crowding-out effects. The European Journal of Development Research. https://doi.org/10.1057/s41287-023-00618-5
  • Behera, D. K., Rahut, D. B., Haridas, H. T., & Tasneem, S. H. (2024). Public versus private health financing transition in low- and middle-income countries: Exploring the crowding-out effects. The European Journal of Development Research, 36(4), 957–986. https://doi.org/10.1057/s41287-023-00618-5
  • Behera, D. K., Rahut, D. B., Padmaja, M., & Dash, A. K. (2024). Socioeconomic determinants of happiness: Empirical evidence from developed and developing countries. Journal of Behavioral and Experimental Economics, 109, 102187. https://doi.org/10.1016/j.socec.2024.102187
  • Buertey, S., Nguyen, H. T., & Thompson, E. K. (2024). The audit committee and dividend policy: An empirical study of the post-SOX era. Corporate Governance: The International Journal of Business in Society, 24(2), 346–364. https://doi.org/10.1108/CG-10-2022-0408
  • Hong, M. N., Thanh, B. N., Pham, H., & Thu, T. P. T. (2024). The determinants of funding liquidity risk in decentralized lending. Global Finance Journal, 101055. https://doi.org/10.1016/j.gfj.2024.101055
  • Hussain, M., Yang, S., Maqsood, U. S., & Zahid, R. M. (2024). Tapping into the green potential: The Power of Artificial Intelligence Adoption in corporate green innovation drive. Business Strategy and the Environment, 33(5), 4375–4396. https://doi.org/10.1002/bse.3710
  • Jin, S., Gan, C., & Anh, D. L. (2024). Financial Inclusion Toward Economic Inclusion: Empirical Evidence from China’s rural household. Agricultural Finance Review, 84(1), 67–89. https://doi.org/10.1108/afr-09-2023-0121
  • Jin, S., Gan, C., & Anh, D. L. T. (2024). Financial inclusion toward economic inclusion: Empirical evidence from China’s rural household. Agricultural Finance Review, 84(1), 67–89. https://doi.org/10.1108/afr-09-2023-0121
  • Kan, Q., Hou, D., Zahid, R. M. A., & Maqsood, U. S. (2024). Financial resilience and sustainability: Examining green innovation trends post-stock price crashes in China. Journal of Environmental Planning and Management, 1–29. https://doi.org/10.1080/09640568.2024.2360574
  • Kan, Q., Hou, D., Zahid, R. M. A., & Maqsood, U. S. (2024). Financial Resilience and Sustainability: Examining Green Innovation Trends post-stock price crashes in China. Journal of Environmental Planning and Management, 69(1), 74–102. https://doi.org/10.1080/09640568.2024.2360574
  • Khan, M. K., Huo, C., Ammar, M., & Maqsood, U. S. (2024). The automated sustainability auditor: Does artificial intelligence curtail greenwashing behavior in Chinese firms? Business Strategy and the Environment. https://doi.org/10.1002/bse.3961
  • Kumar, D., Rahut, D. B., Padmaja, D. M., & Kumar, A. (2024). Socioeconomic determinants of happiness: Empirical evidence from developed and developing countries. Journal of Behavioral and Experimental Economics, 102187. https://doi.org/10.1016/j.socec.2024.10218
  • Kumar, R. R., & Stauvermann, P. J. (2024). Environmental injustice: The effects of environmental taxes on income distribution in an oligopolistic general equilibrium model. Sustainability, 16(10), 4142. https://doi.org/10.3390/su16104142
  • Kumar, R. R., & Stauvermann, P. J. (2024). Environmental injustice: The effects of environmental taxes on Income Distribution in an oligopolistic general equilibrium model. Sustainability, 16(10), 4142. https://doi.org/10.3390/su16104142
  • Kumkit, T., Anh, D. L., Gan, C., & Hu, B. (2023). Members’ perspectives of good governance practice of Thailand’s Credit Union Cooperatives. Journal of Asian Business and Economic Studies, 31(1), 55–73. https://doi.org/10.1108/jabes-06-2022-0154
  • Mishra, A., Hailemariam, A., Srivastava, P., & Maheshwari, G. (2024). Non-linear impact of income inequality on mental health: Evidence from low and middle-income countries. Studies in Nonlinear Dynamics & Econometrics. https://doi.org/10.1515/snde-2023-0113
  • Mishra, A., Hailemariam, A., Srivastava, P., & Maheshwari, G. (2024). Non-linear impact of income inequality on Mental Health: Evidence from low and middle-income countries. Studies in Nonlinear Dynamics & Econometrics, 29(5), 651–667. https://doi.org/10.1515/snde-2023-0113
  • Nguyen Chau, T., Vu Thi Hong, N., Pham Thi Thu, T., Ramsawak, R., & Nguyen Thien, N. (2024). Re-examining the effects of information and communication technology on Economic Growth. Technology in Society, 78, 102646. https://doi.org/10.1016/j.techsoc.2024.102646
  • Nguyen, Chau, T., Vu Thi Hong, N., Pham Thi Thu, T., Ramsawak, R., & Nguyen Thien, N. (2024). Re-examining the effects of information and communication technology on economic growth. Technology in Society, 78, 102646. https://doi.org/10.1016/j.techsoc.2024.102646
  • Pham, H., Priyantha Mudalige, Le, H., Bui, M., Nguyen, V., Vikash Ramiah, Chu, T., & Tuan Hung Vu. (2024). The effects of free trade agreements on the stock market: Evidence from Vietnam. PLOS ONE, 19(2), e0294456. https://doi.org/10.1371/journal.pone.0294456
  • Ramsawak, R., & Nguyen Chau, T. (2024). Evaluating the responsiveness of Caribbean stock markets – the case of covid-19. Heliyon, 10(14). https://doi.org/10.1016/j.heliyon.2024.e34259
  • Ramsawak, R., & Trinh Nguyen Chau. (2024). Evaluating the responsiveness of Caribbean stock markets – The case of COVID-19. Heliyon, 10(14), e34259. https://doi.org/10.1016/j.heliyon.2024.e34259
  • Safiullah, M., & Nguyen, L. T. (2024). Does firm-level Carbon Assurance Matter for trade credit? Finance Research Letters, 68, 106001. https://doi.org/10.1016/j.frl.2024.106001
  • Safiullah, M., & Nguyen, L. T. M. (2024). Does firm-level carbon assurance matter for trade credit? Finance Research Letters, 68, 106001. https://doi.org/10.1016/j.frl.2024.106001
  • Shah, S. S., Qureshi, F., Memon, F. A., & Uddin, M. H. (2024). Financial Literacy and investment behavior of individuals in Pakistan: Evidence from an environment prone to religious sentiment. Journal of Behavioral and Experimental Finance, 44, 100974. https://doi.org/10.1016/j.jbef.2024.100974
  • Sobia Shafaq Shah, Qureshi, F., Farzana Akmal Memon, & Md Hamid Uddin. (2024). Financial literacy and investment behavior of individuals in Pakistan: Evidence from an environment prone to religious sentiment. Journal of Behavioral and Experimental Finance, 44, 100974. https://doi.org/10.1016/j.jbef.2024.100974
  • Tanveer, U., Thinh Gia Hoang, Huy Quang Truong, Ishaq, S., & Yu (Jack) Gong. (2024). The critical role of procurement in the emergence of circular business models: Insights from multiple cases of Vietnamese manufacturers. Business Strategy and the Environment. https://doi.org/10.1002/bse.3888
  • Trang, L., Thieu, T., & Nguyen, Tuan Anh. (2024). Investment decision and efficiency: Global insights on manufacturing firms amidst energy uncertainties. Energy Economics, 137, 107793. https://doi.org/10.1016/j.eneco.2024.107793
  • Vu, K., & Nguyen, T. (2024). Exploring the contributors to the Digital Economy: Insights from Vietnam with comparisons to Thailand. Telecommunications Policy, 48(1), 102664. https://doi.org/10.1016/j.telpol.2023.102664

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