Liwan, Audrey and Lau, Evan (2007): Managing Growth: The Role of Export, Inflation and Investment in three ASEAN Neighboring Countries.
Download (178kB) | Preview
This study investigates the relationship between export, inflation, investment and economic growth for three ASEAN countries namely Indonesia, Malaysia, and Thailand. In general, the results revealed that export has a positive impact on growth. As for, Malaysia and Thailand, inflation has a negative impact on growth; while for Indonesia it has a positive impact. The inflation rate for Indonesia is almost consistent for a several years, which have lead to a positive relationship between inflation and growth. However, there is also a modest increase in the rate of inflation for certain years. The results also shows that investment have a positive impact on growth for Indonesia, Malaysia and Thailand.
|Item Type:||MPRA Paper|
|Institution:||Universiti Malaysia Sarawak|
|Original Title:||Managing Growth: The Role of Export, Inflation and Investment in three ASEAN Neighboring Countries|
|Keywords:||Economic growth; export; inflation; investment; ASEAN|
|Subjects:||F - International Economics > F0 - General|
|Depositing User:||Evan Lau|
|Date Deposited:||10. Jul 2007|
|Last Modified:||11. Feb 2013 18:26|
Ahmad J. and Harnhirun S. (1995) Unit-Root and Cointegration in Estimating Causality between Exports and Economic Growth: Empirical Evidence from the ASEAN Countries, Economics Letters, 49, 329-334. Bahami-Oskooee, M and Alse, J. (1993) Export Growth and Economic Growth: An Application of Cointegrating and Error-Correction Modelling, The Journal of Developing Areas, 27,35-42. Baharumshah A.Z. and Rashid S. (1999) Exports, Imports and Economic Growth in Malaysia: Empirical Evidence Based on Multivariate Time Series, Asian Economic Journal, 13, 389-406 Biswal B. and Dhawan U. (1998) Export-led Growth Hypothesis: Cointegration and Causality Analysis for Taiwan, Applied Economic Letters, 5, pp.699-701. Elliott, G, Rothenberg, T.J. and Stock, J.H. (1996) Efficient Tests for an Autoregrssive Unit Root, Econometrica, 64, 813-836. Ghatak S., Milner C. and Utkulu U. (1997) Exports, Export Composition and Growth: Cointegration and Causality Evidence for Malaysia, Applied Economics, 29, 213-223. Giles, J. A. and Williams, C. L. (2000a) Export-led growth: a survey of the empirical literature and some non-causality results. Part 1, Journal of International Trade and Economic Development, 9, 261-337. Giles, J. A. and Williams, C. L. (2000b) Export-led growth: a survey of the empirical literature and some non-causality results. Part 2, Journal of International Trade and Economic Development, 9, 445-470. Gonzalo, J. (1994) Five Alternative Methods of Estimating Long Run Equilibrium Relationships, Journal of Econometrics, 60, 203-233. Gonzalo, J. and Pitarakis, J.Y. (2002) Lag Length Estimation in Large Dimensional Systems’, Journal of Time Series Analysis 23, 401-423. Granger, C.W.J. (1988) Some Recent Development in a Concept of Causality, Journal of Econometrics, 38, 199-211. Hodge, D. (2006) Inflation and Growth in South Africa, Cambridge Journal of Economics. 30,163-180. Hossain, M.A. and Karunaratne, N. D. (2004) Export and Economic Growth in Bangladesh: Has Manufacturing Exports become a New Engine of Export-Led Growth?, International Trade Journal, XVIII, 303-334. Johansen, S. and Juselius, K. (1990) Maximum Likelihood Estimated and Inference on Cointegration with Application to the Demand for Money, Oxford Bulletin of Economics and Statistics, 52, 169-210. Kwiatkowski, D., Phillips, P. C.B., Schmidt, P. and Shin, Y. (1992) Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root. How Sure Are We that Economic Time Series Have a Unit Root?, Journal of Econometrics, 54, 159-178. Lim, V.C.S. (2004). Dynamics of the Inflation Process in the SEACEN Countries, South East Asian Central Banks (SEACEN) Staff Paper No. 69. Mallik, G., and Chowdhury, A. (2001) Inflation and Economic Growth: Evidence From South East Asian Countries, Asian Pacific Development Journal, 8, 123-133. Mamun K.A. and Nath H.K. (2005). Export-led Growth in Bangladesh: A Time Series Analysis, Applied Economic Letters, 12, 361-364. Osterwald-Lenum, M. (1992) A Note with Quantiles of the Asymptotic Distribution of Maximum Likelihood Cointegration Rank Test Statistic, Oxford Bulletin of Economics and Statistics 54, 461-472. Phillips, P. C.B. (1991) Optimal Inference in Cointegrated Systems, Econometrica, 59, 283-306. Said, E. S. and Dickey, D., A. (1984) Testing for Unit Roots in Autoregressive-Moving Average Models of Unknown Order, Biometrika, 71, 599-607. Silivertovs, B. and Herzer, D. (2007) Manufacturing Exports, Mining Exports and Growth: Cointegration and Causality Analysis for Chile, Applied Economics, 39, 153-167. Tang, T.C. (2006) Export Led Growth in Hong Kong: Empirical Evidence from the Components of Exports, International Journal of Business and Society, 7, 30-52. Gylfason, T. (1999) Exports, Inflation and Growth, World Development, 27,1031-1057. Urbain, J. (1993) Exogeneity in Error Correction Models, Springer-Verlag, Berlin.