Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5
This study examines the international evidence on long-run neutrality (LRN) of money based on low frequency data from five emerging ASEAN economies, namely, Indonesia, Malaysia, the Philippines, Singapore, and Thailand, using a nonstructural reduced-form bivariate ARIMA model proposed by Fisher and...
| Main Authors: | , , |
|---|---|
| Format: | Working Paper |
| Language: | English |
| Published: |
Universiti Malaysia Sarawak, (UNIMAS)
2008
|
| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/3237/ http://ir.unimas.my/id/eprint/3237/1/Some%2BEmpirical%2BEvidence%2Bon%2Bthe%2BQuantity%2BTheoretic%2BProposition%2Bof%2BMoney%2Bin%2BASEAN-5.pdf |
| _version_ | 1848835168333201408 |
|---|---|
| author | Puah, Chin-Hong Muzafar Shah, Habibullah Shazali, Abu Mansor |
| author_facet | Puah, Chin-Hong Muzafar Shah, Habibullah Shazali, Abu Mansor |
| author_sort | Puah, Chin-Hong |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | This study examines the international evidence on long-run neutrality (LRN) of money based on low frequency data from five emerging ASEAN economies, namely, Indonesia, Malaysia, the Philippines, Singapore, and Thailand, using a nonstructural reduced-form bivariate ARIMA model proposed by Fisher and Seater (1993). Empirical evidence shows that the This study examines the international evidence on long-run neutrality (LRN) of money based on low frequency data from five emerging ASEAN economies, namely, Indonesia, Malaysia, the Philippines, Singapore, and Thailand, using a nonstructural reduced-form bivariate ARIMA model proposed by Fisher and Seater (1993). Empirical evidence shows that the classical proposition cannot be rejected with respect to real export except for Thailand. However, the LRN test results are not robust to changes in money supply in countries under study with respect to real output. The narrow monetary aggregate seems to have greater impact on Indonesia, Malaysia, and Thailand economic activities as compared to the other two countries.classical proposition cannot be rejected with respect to real export except for Thailand. However, the LRN test results are not robust to changes in money supply in countries under study with respect to real output. The narrow monetary aggregate seems to have greater impact on Indonesia, Malaysia, and Thailand economic activities as compared to the other two countries. |
| first_indexed | 2025-11-15T06:03:35Z |
| format | Working Paper |
| id | unimas-3237 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:03:35Z |
| publishDate | 2008 |
| publisher | Universiti Malaysia Sarawak, (UNIMAS) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-32372020-08-25T08:18:50Z http://ir.unimas.my/id/eprint/3237/ Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 Puah, Chin-Hong Muzafar Shah, Habibullah Shazali, Abu Mansor HF Commerce HG Finance This study examines the international evidence on long-run neutrality (LRN) of money based on low frequency data from five emerging ASEAN economies, namely, Indonesia, Malaysia, the Philippines, Singapore, and Thailand, using a nonstructural reduced-form bivariate ARIMA model proposed by Fisher and Seater (1993). Empirical evidence shows that the This study examines the international evidence on long-run neutrality (LRN) of money based on low frequency data from five emerging ASEAN economies, namely, Indonesia, Malaysia, the Philippines, Singapore, and Thailand, using a nonstructural reduced-form bivariate ARIMA model proposed by Fisher and Seater (1993). Empirical evidence shows that the classical proposition cannot be rejected with respect to real export except for Thailand. However, the LRN test results are not robust to changes in money supply in countries under study with respect to real output. The narrow monetary aggregate seems to have greater impact on Indonesia, Malaysia, and Thailand economic activities as compared to the other two countries.classical proposition cannot be rejected with respect to real export except for Thailand. However, the LRN test results are not robust to changes in money supply in countries under study with respect to real output. The narrow monetary aggregate seems to have greater impact on Indonesia, Malaysia, and Thailand economic activities as compared to the other two countries. Universiti Malaysia Sarawak, (UNIMAS) 2008 Working Paper NonPeerReviewed text en http://ir.unimas.my/id/eprint/3237/1/Some%2BEmpirical%2BEvidence%2Bon%2Bthe%2BQuantity%2BTheoretic%2BProposition%2Bof%2BMoney%2Bin%2BASEAN-5.pdf Puah, Chin-Hong and Muzafar Shah, Habibullah and Shazali, Abu Mansor (2008) Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5. [Working Paper] |
| spellingShingle | HF Commerce HG Finance Puah, Chin-Hong Muzafar Shah, Habibullah Shazali, Abu Mansor Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 |
| title | Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 |
| title_full | Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 |
| title_fullStr | Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 |
| title_full_unstemmed | Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 |
| title_short | Some Empirical Evidence on the Quantity Theoretic Proposition of Money in ASEAN-5 |
| title_sort | some empirical evidence on the quantity theoretic proposition of money in asean-5 |
| topic | HF Commerce HG Finance |
| url | http://ir.unimas.my/id/eprint/3237/ http://ir.unimas.my/id/eprint/3237/1/Some%2BEmpirical%2BEvidence%2Bon%2Bthe%2BQuantity%2BTheoretic%2BProposition%2Bof%2BMoney%2Bin%2BASEAN-5.pdf |