The impact of uncertainty on economic growth: The case of ASEAN-5

Yong, Sook Lu (2023) The impact of uncertainty on economic growth: The case of ASEAN-5. In: 6th ASNet International Multidisciplinary Academic Conference (AIMAC2023), 11 February 2023, Kuala Lumpur, Malaysia. (Submitted)

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Abstract

The correlation between uncertainty and economic growth is an interesting research topic that has attracted different views from many scholars. The present study aimed to empirically analyse the linkages among numerous uncertainties, such as; the uncertainty index (UI), the consumer price index (CPI), foreign direct investment inflows (FDI), trade openness (TO), innovation (INNO) on economic growth (GDP) in the ASEAN-5 countries: Indonesia, Malaysia, The Philippines, Singapore, and Thailand between 1960 and 2020. The relationship between economic growth and its determinants over the long- and short-term was estimated using the pooled mean group (PMG) estimator. The findings showed that all computed coefficients had predicted signs and were statistically significant in the long run. In addition, economic growth was significantly impacted by FDI and the uncertainty index, both in the short and long term. The uncertainty index, CPI, FDI, innovation, and economic growth, thus, had a unidirectional relationship. On the other hand, no reciprocal relationship existed between trade openness and economic growth for the ASEAN-5 nations.

Item Type: Conference or Workshop Item (Paper)
Funders: None
Additional Information: Conference paper
Uncontrolled Keywords: ASEAN 5; Economic Growth; Panel ARDL; Uncertainty
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Business and Economics > Department of Economics and Applied Statistics
Depositing User: Mr. Mohd Safri
Date Deposited: 29 Sep 2023 02:02
Last Modified: 27 Nov 2024 03:02
URI: http://eprints.um.edu.my/id/eprint/35216

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