External Debt And Economic Growth Nexus: Evidence From Malaysia, Thailand And Philippines
This study aims to examine the contribution of external debt to economic growth in three countries namely; Malaysia, Thailand and the Philippines. To discern the causal chain linkages among the I(1) macroeconomic variables typically utilized to test the connection between external debt and econom...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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IISES
2015
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/17975/ http://ir.unimas.my/id/eprint/17975/1/EVAN%20LAU.pdf |
| _version_ | 1848838408377466880 |
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| author | Lau, Evan Lee, Alvina Syn-Yee Ahmad Zubaidi, Baharumshah |
| author_facet | Lau, Evan Lee, Alvina Syn-Yee Ahmad Zubaidi, Baharumshah |
| author_sort | Lau, Evan |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | This study aims to examine the contribution of external debt to economic growth in three countries
namely; Malaysia, Thailand and the Philippines. To discern the causal chain linkages among the I(1)
macroeconomic variables typically utilized to test the connection between external debt and
economic growth, several econometric procedures are employed in this study. By employing the
cointegration test, the results reveal the existence of one unique long-run relationship among the
variables for Malaysia while two cointegrating vectors are identified for both Thailand and the
Philippines. From the results, it is evident that both the growth-driven exports and export-led growth
hypothesis exist in Malaysia and Thailand respectively. The dynamic econometric analysis finds that
exports of goods and services appear to be the most leading variable beyond the sample for the
next 50 years. The findings from the study recommend the policy makers should formulate effective
debt management policies to monitor the amount of external borrowings so that the accumulation
of external debt will not hinder the economic growth. |
| first_indexed | 2025-11-15T06:55:05Z |
| format | Article |
| id | unimas-17975 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:55:05Z |
| publishDate | 2015 |
| publisher | IISES |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-179752022-01-26T08:45:35Z http://ir.unimas.my/id/eprint/17975/ External Debt And Economic Growth Nexus: Evidence From Malaysia, Thailand And Philippines Lau, Evan Lee, Alvina Syn-Yee Ahmad Zubaidi, Baharumshah H Social Sciences (General) This study aims to examine the contribution of external debt to economic growth in three countries namely; Malaysia, Thailand and the Philippines. To discern the causal chain linkages among the I(1) macroeconomic variables typically utilized to test the connection between external debt and economic growth, several econometric procedures are employed in this study. By employing the cointegration test, the results reveal the existence of one unique long-run relationship among the variables for Malaysia while two cointegrating vectors are identified for both Thailand and the Philippines. From the results, it is evident that both the growth-driven exports and export-led growth hypothesis exist in Malaysia and Thailand respectively. The dynamic econometric analysis finds that exports of goods and services appear to be the most leading variable beyond the sample for the next 50 years. The findings from the study recommend the policy makers should formulate effective debt management policies to monitor the amount of external borrowings so that the accumulation of external debt will not hinder the economic growth. IISES 2015 Article PeerReviewed text en http://ir.unimas.my/id/eprint/17975/1/EVAN%20LAU.pdf Lau, Evan and Lee, Alvina Syn-Yee and Ahmad Zubaidi, Baharumshah (2015) External Debt And Economic Growth Nexus: Evidence From Malaysia, Thailand And Philippines. Proceedings of the Proceedings of the 16th International Academic Conference, Amsterdam, Jun 2015. ISSN ISBN 978-80-87927-09-0 http://iises.net/ DOI: 10.20472/IAC.2015.016.042 |
| spellingShingle | H Social Sciences (General) Lau, Evan Lee, Alvina Syn-Yee Ahmad Zubaidi, Baharumshah External Debt And Economic Growth Nexus: Evidence From Malaysia, Thailand And Philippines |
| title | External Debt And Economic Growth Nexus: Evidence
From Malaysia, Thailand And Philippines |
| title_full | External Debt And Economic Growth Nexus: Evidence
From Malaysia, Thailand And Philippines |
| title_fullStr | External Debt And Economic Growth Nexus: Evidence
From Malaysia, Thailand And Philippines |
| title_full_unstemmed | External Debt And Economic Growth Nexus: Evidence
From Malaysia, Thailand And Philippines |
| title_short | External Debt And Economic Growth Nexus: Evidence
From Malaysia, Thailand And Philippines |
| title_sort | external debt and economic growth nexus: evidence
from malaysia, thailand and philippines |
| topic | H Social Sciences (General) |
| url | http://ir.unimas.my/id/eprint/17975/ http://ir.unimas.my/id/eprint/17975/ http://ir.unimas.my/id/eprint/17975/ http://ir.unimas.my/id/eprint/17975/1/EVAN%20LAU.pdf |