Business Cycle in the US and five ASEAN countries: are they related?

Ong, Hway-Boon and Puah, Chin Hong and Muzafar Shah, Habibullah (2004) Business Cycle in the US and five ASEAN countries: are they related? The Philippine Review of Economics, XLI (1). pp. 57-66. ISSN 1655-1516

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Given the inter-country linkages arising from technological advances in communication and transportation, this paper examines the interdependent relationships between the output of the world's largest economy, the U.S, and those of five other ASEAN countries, namely Indonesia, Malaysia, Philippines, Singapore and Thailand. Based on result of the augmented VAR of the Granger non-causality test, the paper finds a weak interdependence between the U.S and the five ASEAN countries, but a strong interdependence among the ASEAN countries. The empirical findings also revealed bi-directional causality among ASEAN countries especially Malaysia and Singapore. As such, every ASEAN country has to consider the economic developments and policies of other ASEAN countries as their decisions could affect one another.

Item Type: Article
Uncontrolled Keywords: Granger non-causality, augmented-VAR, MWald test, business cycles, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, research, Universiti Malaysia Sarawak
Subjects: H Social Sciences > HB Economic Theory
Divisions: Academic Faculties, Institutes and Centres > Faculty of Economics and Business
Depositing User: Ab Rahim
Date Deposited: 20 Nov 2017 02:35
Last Modified: 20 Nov 2017 02:35

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