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Purpose ─ This study investigates the nonlinear relationship between export diversification and economic growth in 44 emerging markets and developing countries.Methods ─ The threshold regression methodology is employed to analyze data for the period between 1995 and 2015. Export diversifications in terms of both geography and product are measured by the Herfindahl-Hirschman market concentration index and overall Theil index, respectively.Findings ─ The results demonstrate a nonlinear relationship between export diversification and economic growth. Above the threshold, diversified export markets and products boost economic growth. Below the threshold, the positive relationship between diversification in both markets and products and growth is insignificant.Implications ─ The research implies that export diversification strategy in emerging markets and developing countries should be considered carefully when the level of export diversification is higher than the threshold, which usually occurs in the later stage of diversification.Originality ─ The study investigates nonlinearity in terms of degrees of diversification instead of degrees of development. With this approach, the threshold is identified to show how economic growth is affected under different regimes.

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This study examines the impact of world oil price shocks on macroeconomic variables in Vietnam with a focus on the transmission channel of domestic oil prices. The Structural Vector Autoregression model with two blocks of real economy variables and monetary variables is employed. The world oil price follows an autoregressive process to reflect the exogenous nature of world oil price shocks to the domestic economy. The retail domestic oil price is determined simultaneously by only the world oil price due to the government's control of the domestic oil market. Using monthly data in the period between 2009 and 2021, the study indicates that a positive shock to world oil prices will increase the domestic oil prices significantly, industrial production (slightly and only statistically significant in the third month after), and inflation (significantly in 8 months). Besides, the domestic oil price is not the only transmission channel of world oil price shocks to the economy. This result implies forecasting, assessing, and controlling the impact of the world oil price shock on the economy should focus on both domestic oil prices and other indirect channels.

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