Interdependence of ASEAN Business Cycles
This paper examines the interdependence relationship of five ASEAN business cycles, namely, Indonesia, Malaysia, Philippines, Singapore and Thailand. We conducted an augmented VAR of Granger non-causality test and discovered that there is strong interdependence among the ASEAN countries under study....
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
FFE-ISAFE
2006
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/18674/ http://ir.unimas.my/id/eprint/18674/7/Interdependence%20of%20ASEAN%20Business%20Cycles%20%28abstract%29.pdf |
| Summary: | This paper examines the interdependence relationship of five ASEAN business cycles, namely, Indonesia, Malaysia, Philippines, Singapore and Thailand. We conducted an augmented VAR of Granger non-causality test and discovered that there is strong interdependence among the ASEAN countries under study. Our empirical findings revealed the existence of bi-directional causality among ASEAN countries, especially Malaysia and Singapore. That is to say, economic shocks or policy implementation by any neighbouring countries may be easily transmitted to another. |
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