2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries
| Format: | General Document |
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| _version_ | 1860798032271900672 |
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| building | INTELEK Repository |
| collection | Online Access |
| collectionurl | https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 |
| copyright | Copyright©PWB2025 |
| country | Malaysia |
| date | 2018-07-03 |
| format | General Document |
| id | 15565 |
| institution | UniSZA |
| internalnotes | Sila masukkan subject wajib Dissertations, Academic. Terima kasih... |
| originalfilename | DETERMINE THE EFFECTS OF FTNANCIAL INSTABILITY, ENERGY PRICES AND TRADE OPENNESS ON ECONOMIC GROWTH OF EMERGING AFRICAN AND ASEAN COUNTRIES (PHD_2018).pdf |
| person | Ali Umar Ahmad |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=15565 |
| sourcemedia | Server storage Scanned document |
| spelling | 15565 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=15565 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Business and Management English application/pdf 1.5 Server storage Scanned document UniSZA Private Access Universiti Sultan Zainal Abidin SAMBox 3.0.10; modified using iTextSharp™ 5.5.10 ©2000-2016 iText Group NV (AGPL-version) Copyright©PWB2025 2018-07-03 335 DETERMINE THE EFFECTS OF FTNANCIAL INSTABILITY, ENERGY PRICES AND TRADE OPENNESS ON ECONOMIC GROWTH OF EMERGING AFRICAN AND ASEAN COUNTRIES (PHD_2018).pdf Effects Of Financial Instability Energy Prices Trade Openness On Economic Growth Emerging African And ASEAN Countries Financial instability—Southeast Asia Economic growth—Southeast Asia Energy prices—Southeast Asia Trade openness—Southeast Asia Emerging economies—Southeast Asia 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries Over the years, African and ASEAN economies experienced a great increase in their real growth domestic product (RGDP). Consequently, very few counlries reached a high level of income and wealttr, as well as the majority of them, were below the world average. The objectives of the study are: 1) to determine the effects of financial instability, energy prices, trade openness on economic groMh in emerging Afiican and ASEAN countries 2) to investigate the dynamic causality between financial instability, energy prices, trade openness and economic growth in emerging African and ASEAN countries 3) to examine the effect of World Financial crisis and Asian Financial crisis on economic growth in the emerging African and ASEAN countries respectively. This study uses a dataset of emerging African and ASEAN countries spanning the years from 1970-2014 by using recently developed heterogeneous panel techniques. Moreover, it adopts a cross-section dependence test, unit root test; Levin- Lin-Chu, Im-Pesaran, Madalla and Wu. Similarly, it employs Westerlund and Edgerton, 2008 cointegration test; Larsson, et al. 2001 cointegration test, and Wald test and Dumitrescu and Hurlin heterogeneous panel Granger causality test. The results of panel cointegration test reveal that cointe$ation relationship between the financial instability, energy prices, trade openness and economic growth exists. The Wald test causality test shows a bi-directional causality between financial instability and economic $owth in Nigeria, South Africa, Eg)?t, Kenya, Indonesia, and the Philippines. Moreover, the result also shows unidirectional causality from economic growth to financial instability in Morocco, Thailand, Malaysia and Singapore. It is also observed that bidirectional causality exists between trade openness and economic growth in Indonesia, Thailand, and Philippines. It is also found unidirectional causality from trade op€nness to economic growth in Nigeria, South Africa, Egypt, Malaysia and Singapore. Its also reveals unidirectional causality from economic growth to trade openness in Morocco and Kenya. The result also shows the unidirectional causal relationship from energy prices to economic gowth in Morocco and Kenya, and from economic $owth to energy prices in Thailand. The panel causality test reveals unidirectional causality from finarcial instability to economic groMh, trade openness to economic growth, and economic $owth to energy prices in the emerging African countries. Also, the emerging ASEAN result shows unidirectional causal relationship from financial instabitity to economic growth, trade openness to economic gowth. But, there is no causal relationship between energy prices and economic gowth in the emerging ASEAN countries. The results likewise, indicates that the 2008 financial crisis and 1997 Asian crisis have negative effects on emerging African and ASEAN countries respectively. The results shows that the intervention by emerging African and ASEAN countries policyrnakers could make rigidity or financial repression policies rather than realise a better steady financial system. This could succeed by financial policies and principles being drawn to broaden the space for the growth and stability oforiented macroeconomic approaches. Therefore, the govemment should provide adequate institutions that can create linkages between macro stability and economic $owth. lt would reduce uncertainty reinforces credibility and enhances the macroeconomic environment. Ali Umar Ahmad Dissertations, Academic Sila masukkan subject wajib Dissertations, Academic. Terima kasih... Thesis |
| spellingShingle | 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries |
| state | Terengganu |
| subject | Financial instability—Southeast Asia Economic growth—Southeast Asia Energy prices—Southeast Asia Trade openness—Southeast Asia Emerging economies—Southeast Asia Dissertations, Academic |
| summary | Over the years, African and ASEAN economies experienced a great increase in their real growth domestic product (RGDP). Consequently, very few counlries reached a high level of income and wealttr, as well as the majority of them, were below the world average. The objectives of the study are: 1) to determine the effects of financial instability, energy prices, trade openness on economic groMh in emerging Afiican and ASEAN countries 2) to investigate the dynamic causality between financial instability, energy prices, trade openness and economic growth in emerging African and ASEAN countries 3) to examine the effect of World Financial crisis and Asian Financial crisis on economic growth in the emerging African and ASEAN countries respectively. This study uses a dataset of emerging African and ASEAN countries spanning the years from 1970-2014 by using recently developed heterogeneous panel techniques. Moreover, it adopts a cross-section dependence test, unit root test; Levin- Lin-Chu, Im-Pesaran, Madalla and Wu. Similarly, it employs Westerlund and Edgerton, 2008 cointegration test; Larsson, et al. 2001 cointegration test, and Wald test and Dumitrescu and Hurlin heterogeneous panel Granger causality test. The results of panel cointegration test reveal that cointe$ation relationship between the financial instability, energy prices, trade openness and economic growth exists. The Wald test causality test shows a bi-directional causality between financial instability and economic $owth in Nigeria, South Africa, Eg)?t, Kenya, Indonesia, and the Philippines. Moreover, the result also shows unidirectional causality from economic growth to financial instability in Morocco, Thailand, Malaysia and Singapore. It is also observed that bidirectional causality exists between trade openness and economic growth in Indonesia, Thailand, and Philippines. It is also found unidirectional causality from trade op€nness to economic growth in Nigeria, South Africa, Egypt, Malaysia and Singapore. Its also reveals unidirectional causality from economic growth to trade openness in Morocco and Kenya. The result also shows the unidirectional causal relationship from energy prices to economic gowth in Morocco and Kenya, and from economic $owth to energy prices in Thailand. The panel causality test reveals unidirectional causality from finarcial instability to economic groMh, trade openness to economic growth, and economic $owth to energy prices in the emerging African countries. Also, the emerging ASEAN result shows unidirectional causal relationship from financial instabitity to economic growth, trade openness to economic gowth. But, there is no causal relationship between energy prices and economic gowth in the emerging ASEAN countries. The results likewise, indicates that the 2008 financial crisis and 1997 Asian crisis have negative effects on emerging African and ASEAN countries respectively. The results shows that the intervention by emerging African and ASEAN countries policyrnakers could make rigidity or financial repression policies rather than realise a better steady financial system. This could succeed by financial policies and principles being drawn to broaden the space for the growth and stability oforiented macroeconomic approaches. Therefore, the govemment should provide adequate institutions that can create linkages between macro stability and economic $owth. lt would reduce uncertainty reinforces credibility and enhances the macroeconomic environment. |
| title | 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries |
| title_full | 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries |
| title_fullStr | 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries |
| title_full_unstemmed | 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries |
| title_short | 2018_Determine The Effects of Financial Instability, Energy Prices and Trade Openness on Economic Growth Of Emerging African and ASEAN Countries |
| title_sort | 2018_determine the effects of financial instability, energy prices and trade openness on economic growth of emerging african and asean countries |