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This study sets out to investigate the factors influencing Vietnam firms’ innovation in various sectors by using World Bank (2015) enterprise survey of 996 firms across the country. We employ ordinary least squares (OLS), probit model, and marginal effect to estimate the impact of firm characteristics, industry characteristics, and business climate on different facets of innovation, including technology and non- technology. | Le Thi Ngoc Bich et. al. / Journal of Economic Development, 24(3), 45-65 45 Which are determinants of firm innovation in Vietnam? A micro analysis LE THI NGOC BICH Post and Telecommunication Institute of Technology – bichltn@ptit.edu.vn VU TRONG PHONG Post and Telecommunication Institute of Technology LE THI NGOC DIEP Post and Telecommunication Institute of Technology ARTICLE INFO ABSTRACT Article history: This study sets out to investigate the factors influencing Vietnam firms’ innovation in various sectors by using World Bank (2015) enterprise survey of 996 firms across the country. We employ ordinary least squares (OLS), probit model, and marginal effect to estimate the impact of firm characteristics, industry characteristics, and business climate on different facets of innovation, including technology and non- technology. Quantitatively, we find that direct exporters, firm size, state ownership, email using, and competition increase the probability of technology innovation. Meanwhile, foreign ownership impacts negatively on innovation in all aspects, technology and nontechnology innovation. Firm age and bribery are not influential factors to innovation in all cases. From the findings of analysis, a few policy implications regarding the studied factors are drawn for better environment for firm innovation. Received: Nov., 14, 2016 Received in revised form: June, 26, 2017 Accepted: June, 30, 2017 Keywords: Determinants of innovation Direct export Foreign ownership Technology innovation Non-technology innovation 46 Le Thi Ngoc Bich et. al. / Journal of Economic Development 24(3), 45-65 1. Introduction Vietnam, according to World Bank, is assessed as a development success story. After the reforms launched in 1986, Vietnam has made remarkable progress and transformed from one of the poorest countries to a lower middle income country with per capita income of $1960 by the end of 2013. Vietnam’s growth rate has been around 6.4% per year on average .
