Does gender and education of the households' heads matter for wealth accumulation in Vietnam? Evidence from a recent decade.

Asians believe that education plays a crucial role in earning higher income for individuals and accumulating larger wealth for households. Educational achievements have been generally considered an indicator of success. However, gender bias in favour of males as the household heads still exists in Asian societies due to the significant influence of Confucian belief. This study investigates the independent effect of education and gender of the households' heads and their joint effect on household wealth in the Vietnamese context in the most recent decade using data from the Vietnam Household Living Standards Surveys (VHLSSs) between 2010 and 2020. Our study uses quantile regression and propensity score matching methods to ensure the robustness of the empirical results. We find that the education of the household heads contributed to increased household wealth in Vietnam in 2010 and 2020. However, household wealth decreases across different wealth quantiles when the households' heads are females. These findings confirm the currently deep-rooted gender stereotypes and a 'gendered structure' economy in Vietnam and require attention from the Vietnamese government. In addition, our empirical results reveal that being a female as the household head with a degree/certificate from a general education will increase household wealth. Our empirical results have largely been consistent across different wealth distributions.